Wirehouse and other advisors continue to get enticed by rival broker-dealers and switch firms, even in the dog days of summer.
The veteran group, formerly with Morgan Stanley (MS), will be based in Florham Park, N.J. It includes six advisors: John Rasweiler, John Cusate, Jack Riley, Michael Jordao, Jesse Kent and William Burke.
For its part, Morgan Stanley just picked up Kris Breeneman and Chelsie Brenneman, a father-and-daughter team, previously with Merrill Lynch (BAC), and who have prior assets of $130 million and annual production of $1.1 million.
The group is based in Akron, Ohio, and now reports to Jason E. Haines, a Morgan Stanley branch manager.
Morgan Stanley also recruited Michael Scott Cooper and Michele Pike Smith from BB&T Securities.
Michael Scott Cooper has had yearly production of $1.8 million and client assets of $115 million. He will be based in Raleigh, N.C. Michele Pike Smith has annual fees & commissions of $727,000 and client assets of $80 million. She will work in Greensboro, N.C.
Both of the new Morgan Stanley advisors report to area branch manager John Blakley.