Morgan Stanley (MS) said late Thursday that it recently recruited five financial advisors and one branch manager from rivals.
The advisors have about $732 million in client assets and nearly $5 million in yearly fees and commissions, or production.
Robert Finan and Anthony LaFonte joined Morgan Stanley in Red Bank, N.J., last Thursday from Bank of America-Merrill Lynch (BAC). The two advisors, who do business as the Finan Group, have combined annual production of more than $2 million and have managed about $400 million in client assets.
The team now reports to complex manager Chris Shaw.
Stanley Alintoff moved to Morgan Stanley’s office in Westport, Conn., in mid-August from UBS (UBS). The advisor, who has some $1.8 million in yearly fees and commissions and more than $230 million in client assets, will be supervised by branch manager Patrick Tiani.