Morgan Stanley Smith Barney (MS) said Tuesday that it had recruited seven financial advisors from Merrill Lynch (BAC), UBS (UBS) and RBC with more than $1 billion in assets under management and total annual fees and commissions of roughly $11 million. The seven advisors, which include three teams, join Morgan Stanley in New York, New Jersey and Ohio.
Mark Donohue, formerly with RBC Dain Rauscher, is now part of Morgan Stanley’s News York City office on the Avenue of the Americas, where he reports to Henry Kaplan, complex manager. Donohue has managed more than $700 million in assets and posted yearly production of $6 million.
The Jones/Woods Group of Bryan Jones and James Woods joined MSSB’s Akron, Ohio, office from Merrill Lynch. The team reports to Northern Ohio Complex Manager Thomas Russ. The group’s recent asset level was $210 million, while its combined yearly fees and commissions were close to $2 million.
In Hudson, Ohio, the Naples Team–T. Gregory Naples and Chris Naples–joined MSSB from UBS and now reports to Paul Sheeks, branch manager. The team’s combined production is close to $1.3 million and it’s recent AUM was $100 million. The Hudson office is part of MSSB’s Northern Ohio Complex, which is managed by Thomas Russ.
The Bernstein Rosen Group–Nancy Bernstein and Greg Rosen–are now part of MSSB’s Bedminster, N.J., office after coming over from Merrill Lynch. The team reports to branch manager Robert Milligan Jr., and has combined production of roughly $1.4 million and assets of $157 million.