UBS Wealth Management Americas has picked up four advisors from Morgan Stanley Wealth Management with more than $2.37 billion in assets under management.
The moves include financial advisor team Allan Yarkin and Hank Boyce, who joined UBS in Aventura, Fla., on Feb. 27, according to their public registration records with the Financial Industry Regulatory Authority. Yarkin transitioned to Morgan Stanley in 2009, according to his FINRA records, after serving at Citigroup for 16 years. Boyce also came to Morgan Stanley in 2009 following 18 years at Citigroup. Together, they managed about $1.75 billion in client assets, according to Reuters, which first reported the moves.
In addition, financial advisor team Seth Ripple and Leonard Suskind also moved to UBS in Aventura, Fla., on Feb. 27. Both Ripple and Suskind transitioned to Morgan Stanley in 2009 after serving for 16 years at Citigroup. They oversaw about $619 million in client assets.
A UBS spokesperson confirmed the moves, but did not provide further comment.
The moves follow Morgan Stanleys hiring of several UBS advisors that were disclosed earlier this month. They include Scott Sexton, who moved to Morgan Stanleys Venable Cantey Pruitt and Sexton Team in Knoxville, Tenn. Sexton previously managed $173 million in client assets and had $1.035 million in production.
Financial advisor team Roxann Romano and Anthony Catalano also joined Morgan Stanley from UBS in New York. Together, they previously oversaw $123 million in client assets and had $1.74 million in production.