UBS has snatched two more advisors from Morgan Stanley Smith Barney.
A spokesperson for UBS said that Paul Gilman and Marshall Hagen joined the firm’s Wealth Management Americas office in New York City.
According to FINRA filings, Gilman and Hagen joined UBS on Friday, July 16. Previously, they spent three and a half years at Morgan Stanley Smith Barney, and before that, they were at Merrill Lynch for six years.
Together, the pair previously oversaw $296 million in client assets and generated up to $2.6 million in annual fees and commissions.
This hire, along with a handful of recent others, goes against the longer trend somewhat as UBS has been under pressure in the face of massive defections in recent months. It has said that it will focus on key areas in the major markets and not try to blanket the country with a massive advisor force.