Morgan Stanley (MS) said Tuesday that it recruited three advisors from rival wirehouse firms with a total of $3.7 million in yearly fees and commissions, while Janney Montgomery Scott announced early Tuesday that its advisors have been joined by a team formerly with Stephens.
Arthur Levine moved to Morgan Stanley Wealth Management’s office in Ridgewood, N.J., from Wells Fargo Advisors (WFC). Levine, who has had 12-month production of more than $2.4 million, now reports to branch manager Peter Christou.
The senior Coleman now reports to Cynthia Newman, the complex manager in Pasadena, and Coleman Jr. is reporting to Seattle complex manager Alex Burlingame. The father-son team has combined production of more than $1.3 million and prior client assets of $161 million.
Philadelphia-based Janney said 34-year industry veteran W.G. Simms Oliphant Jr., and 17-year industry veteran Christopher Smith are now part of its Columbia, S.C., branch office. The two advisors, who were previously with Little Rock, Ark.-based Stephens, collectively oversee about $155 million in client assets.
They are being joined by assistant Julie Boulware to form the S.C. Asset Advisors.
“Simms and Chris make a great addition to our Columbia office, as their success through the years has been defined by the way they serve their clients and the community,” said Jerry Lombard, president of the firm’s Private Client Group, in a press release.