Morgan Stanley Smith Barney recruited Laurence Braunstein who will serve as a financial advisor and senior vice president in New York City, according to a company spokesperson.

According to FINRA filings, Braunstein joins from First Allied Securities, which is a division of Advanced Equities Financial Corp. Prior to that, he worked at Home Life Equity Sales Corp.

He managed $200 million in client assets and generated up to $3 million in annual fees and commissions.

“MSSB made a big move by recruiting Braunstein,” said an industry headhunter. “This was definitely a big move.”