Less than a week after sharing the news that it had nabbed four advisors from rivals with about $3.7 million in yearly fees and commissions and more than $425 million in client assets under management., Morgan Stanley (MS) said late Monday that it just successfully recruited nine more advisors with about $9.2 million in annual production and over $765 million in client assets from Merrill Lynch (BAC), Wells Fargo (WF) and JPMorgan (JPM).
Plus, the firm – which is led by James Gorman (above) — says it recruited 10 FAs from UBS (UBS) since March 1 with about $7.8 million in production and some $660 million in client assets. The ex-UBS reps include several teams and individuals with over $1 million in trailing-12-month fees and commissions.
One team joining from Bank of America-Merrill includes Gaston Abello and Felix Jaimovich. They are based in Aventura, Fla., and report to complex manager Bill Van Scoyoc. They have total production of $2.1 million and prior assets of $165 million.
Also moving to Morgan Stanley from Merrill are Robert Iocco and Francis Ciocari of Blue Bell, Penn. Their combined fees and commissions are $1.6 million, while their prior assets are over $200 million.