Morgan Stanley Smith Barney said Monday that it added two teams from UBS and Ameriprise Financial with a total of more than $315 million of client assets.
Shawn Liebel and Kevin Forney joined MSSB's Pepper Pike, Ohio, office from UBS.The team, which now reports to branch manager Robert Hartmann in Pepper Pike (near Cleveland), had about $210 million in combined assets and yearly production (or fees and commissions of about $1.5 million.
Joining from Ameriprise in Tampa, Fla., are Robert Coloret and Mark Delmar. The team now reports to branch manager Jacob Heron. It previously had more than $105 million in combined assets and combined annual production of $1.2 million.
Recently, Morgan Stanley — led by James Gorman (left) has seen a number of teams and executives leave for rival broker-dealers. Last week, Baird hired Steven Stroker, a former regional director for Morgan Stanley in the Midwest. In the previous week, Raymond James’ employee channel picked up a team in Los Angeles, while Baird grabbed one in Portland, Ore.