Morgan Stanley has lost two advisor teams that managed more than $400 million in assets.

Advisors Joe Wong and Rodger Friedman left the wirehouse earlier this month for Steward Partners Global Advisory in Washington. A second team, the Lev Sher Group, was lured away by Wells Fargo Advisors.

Wong, 33, and Friedman, 57, managed more than $170 in assets and generated about $1.5 million in annual revenue for Morgan. 

“We wanted to have more an impact on the firm we were with,” said Friedman. “When you're in an audience in of more than 16,000 advisors, or 50,000 employees, the people who make the biggest difference are in the C suite. I like the idea of having more of a voice and an impact on the direction of the firm.”

Wong and Friedman also had worked under Steward's President Michael Maurer, when he was managing director and complex director for Morgan's Washington office. Steward was founded by several former Morgan managers last year. It has since added offices in Andover, Mass., and Portsmouth, N.H. 

Wells took on the Lev Sher Group, based in Woodbury, N.Y., which includes advisors Norman Lev, Glen Sher and Michael Jeshiva. Client associates Roberta Lev and Helen Cardona are also in the group. Lev had managed $236 million in assets.

“We chose Wells Fargo Advisors for the tools and support it provides as we continue to help our clients succeed financially,” the group said in a statement.

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