Proving that advisory competition is still strong, Merrill Lynch has hired a Morgan Stanley Smith Barney advisor duo with $377.8 million in client assets, and lost two other teams to other wirehouse firms.

Merrill Lynch Wealth Management hired a two-member veteran Morgan Stanley Smith Barney team with $377.8 million in client assets under management and $5.02 million in annual fees and commissions. That team, including Andrew Cappello and Christie Roberts-named the Cappello Group-join the firm in Tampa, Fla. Cappello served at Morgan Stanley for 30 years, while Roberts was at the firm for 28 years. They have been registered with Merrill Lynch since July 13, according to their public registration records with the Financial Industry Regulatory Authority.

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