Proving that it is still in the competition for top advisory talent, Morgan Stanley Smith Barney has tapped competing firms to add nine new financial advisors with more than $1.22 billion in client assets under management to its forces.
The largest team joining Morgan Stanley by assets includes financial advisors Keith Munera and John Wildemore. Together, they previously served at UBS, where they had $315 million in client assets under management and more than $3 million in fees and commissions. They are now based in Morgan Stanley's Berwyn, Pa., office and report to branch manager Anthony Favoroso.
The next largest team by assets includes advisors Christopher Agnew, Gary Hewitt and Darrell Henricksen, who previously oversaw more than $300 million in client asset at Merrill Lynch. They are based in Davenport, Iowa, and report to branch manager Nathan Stoffregen.
Also joining Morgan Stanley from Merrill Lynch are advisors Matthew Zaft and Connor McKinney-the Zaft McKinney Group. Together, they previously had $219 million in client assets under management and had $1.81 million in annual fees and commissions. They join Morgan Stanley's Washington, D.C., office and report to complex manager Michael Maurer.
Also joining Morgan Stanley are advisors Angel Colina from Wells Fargo and Mark Ralston from LPL Financial.
Colina comes to the firm's Miami office after previously overseeing $240 million in client assets and generating $2.04 million in annual production. He reports to Morgan Stanley complex manager Kevin McCarty.
Ralston previously had $143 million in client assets under management and $1.5 million in annual fees and commissions. He is based in Wichita, Kansas, and reports to Morgan Stanley branch manager John Dunlop.
The hiring news comes as Morgan Stanley plans to put the finishing touches on its combination with Smith Barney, including a reduction of its total number of complexes and cuts to its non-producing branch manager ranks.