A veteran advisor has left Morgan Stanley for a Chicago-based boutique investment firm where he will oversee $300 million in client assets.

Jim Hofheimer is signing on as a senior institutional and corporate retirement consultant with Rothschild Investment, which is both a broker-dealer and an RIA.

Hofheimer has more than 35 years of experience in the financial services industry, according to a statement announcing the move, and 15 years of experience as a financial advisor, according to FINRA records. He worked at Morgan for the greater part of his career, breaking briefly to work with Citigroup Global Markets for three years. He returned to the wirehouse in 2009.

"I joined Rothschild to have true open architecture with no conflicts, I look forward to being an integral part of their future growth," Hofheimer said in the statement.

Hofheimer is not the first advisor to leave Morgan Stanley this month. Last week the wirehouse lost a team managing $650 million in client assets that went independent with the help of new consulting firm tru Independence, while another advisor with $200 million in assets fled to Merrill Lynch.

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