UBS Wealth Management Americas has hired a three-advisor Morgan Stanley Smith Barney team to its San Diego, Calif. office.
The team members include Ken Abady, Brad Benter and Steve DeMatteo, who operated under the name Pacific Point Group, a UBS spokeswoman confirmed Wednesday. The three advisors have been registered with UBS since April 19, according to FINRA records, after first joining Morgan Stanley in June 2009 from Citigroup Global Markets. Financial details, including the team’s production and assets under management, were not disclosed.
The hires come as UBS has steadily added to its U.S. advisor ranks in recent months, having most recently announced the addition of Henry Wagner to its San Francisco office from Sterne, Agee & Leach this week. Attrition for UBS’s U.S. advisor force has reached a record low since before the financial crisis, the firm said in its first quarter earnings this week, with its U.S. advisor head count currently 6,811 total.