Morgan Stanley Smith Barney has hired a two-member Wells Fargo Advisors team in its Rancho Santa Fe, Calif. office.
Michael Parziale and Daniel Morilak, who operate under the name Pangaea Group, have been registered with Morgan Stanley Smith Barney since August 4, according to their records with the Financial Industry Regulatory Authority.
Together, they previously oversaw $175 million in client assets and generated $2.2 million in annual fees and commissions. They report to Morgan Stanley Smith Barney Branch Manager David L. Allen.
Both Parziale and Morilak joined Wells Fargo in November 2004 from Banc of America Securities, where they had served since August 2003, FINRA records show.