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August 21, 2013 at 02:55 PM
Wirehouse and other advisors continue to get enticed by rival broker-dealers and switch firms, even in the dog days of summer.
UBS (UBS) said early Wednesday that it recruited Rasweiler Group, which has $4.8 billion in client assets and yearly fees & commissions of $10 million.
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.
