Wirehouse broker-dealers Morgan Stanley (MS) and Bank of America-Merrill Lynch (BAC) said Monday that they had picked up groups of advisors from rivals on Monday, and each firm said the incoming reps had a total of over $500 million in client assets.

Morgan Stanley said the team of Michael Zalkind and John Williams moved to its Aventura, Florida, office from JPMorgan Chase (JPM) last week. The advisors had yearly fees and commissions of $2.1 million and prior assets of $175 million.

Zalkind and Williams now report to complex manager Bill Van Scoyoc. According to Morgan Stanley, its Aventura complex (located near Miami) has recruited 10 advisors in recent months.

In Louisville, Kentucky, Robert Phelps joined Morgan Stanley’s downtown office on Friday from UBS (UBS). The advisor has more than $1 milllion in production and prior assets of $90 million; he reports to branch manager Chris Hudson.

Thomas Forma and Kevin Nichols moved to Morgan Stanley’s West Hartford, Connecticut, office on Friday from Merrill Lynch.

The team will be supervised by complex manager Catherine Galgano.  It had prior assets of more than $300 million. Forma joins as a senior institutional consultant, while Nichols comes on board as a senior investment management consultant.

Meanwhile, Merrill Lynch says a team previously working for UBS has moved to its Private Banking and Investment Group in Chicago.

Kanwar Singh, Rajeev Rathi and Steve Coleman started at Merrill Lynch last Tuesday. Together, they have assets under management of over $500 million and yearly production of close to $5 million.

Last week, Morgan Stanley said it had 16,162 registered reps as of Sept. 30, with an average asset level of $124 million. Their average yearly production level stands at $932,000 vs. $908,000 as of June 30 and $848,000 a year earlier.

BofA has some 15,868 advisors. Excluding advisors in the consumer and business-banking segments, the Merrill Lynch group includes 14,000 registered reps, who had average yearly fees and commissions of $1.08 million each. 

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