Morgan Stanley Wealth Management hauled in nine new advisor hires on Friday with more than $765 million in assets and $9.2 million in fees and commissions.
The hiring sweep included advisors from rival firms including Merrill Lynch, J.P. Morgan and Wells Fargo.
Of the hires, the largest team by assets, including advisors Paul D. Emrick, Troy Hottenstein and Scott Holland, joined the firm from J.P. Morgan in Philadelphia. That teamthe Emrick, Hottenstein, Holland teampreviously oversaw $400 million in client assets and had $3.7 million in production. They report to complex manager Rick Frick.
Joining from Merrill Lynch in Blue Bell, Pa., are financial advisors Robert Iocco and Francis Ciocari. Together, they previously had more than $200 million in client assets under management and $1.6 million in fees and commissions. They report to branch manager Steve Brettler.
Also joining from Merrill Lynch in Aventura, Fla., are financial advisors Gaston Abello and Felix Jaimovich. They previously oversaw $165 million in client assets and had $2.1 million in production. They report to complex manager Bill Van Scoyoc.
And finally, joining from Wells Fargo are financial advisors William Seabrook and Kathleen Chiappone in Orlando, Fla. Together, they previously had $1.8 million in fees and commissions. They report to branch manager Derek Tangeman.
Morgan Stanley has also recently tapped rival wirehouse UBS for talent, having picked up 10 financial advisors with a total of $660 million in client assets and $7.8 million in production since March 1, according to the firm.