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Recruiting Roundup: Morgan Stanley Grabs $1B Pair From Citi

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This week’s new recruiting includes Morgan Stanley’s (MS) addition of three new advisors, one from Barclays and two from Citi Private Bank (C).

Also, wealth advisor Matt Riesenweber launched a new firm on LPL Financial’s (LPLA) broker-dealer platform, and Wescott Financial Advisory Group brought in a new chief operating officer.

William Goettert and John Entenberg recently left Citi Private Bank behind in favor of Morgan Stanley’s Boca Raton, Florida, office, where they report to Bert White, Boca West complex manager. Their combined yearly fees and commissions are about $5 million, and their prior assets under management total roughly $1 billion.

In New York, Louis Greif moved to Morgan Stanley from Barclays, which is currently being acquired by Stifel Financial (SF). He reports to Justin Ferdula, branch manager of the wirehouse’s 1290 Avenue of the Americas office, and his production is $1.25 million.

Wealth advisor Matt Riesenweber has launched a new advisory firm, Cornerstone Wealth Strategies. Cornerstone is based in Kennewick, Washington, and has both Riesenweber and Matt Wiser as advisors.

It will provide fee-based advisory services through Financial Advocates Investment Management, an independent RIA on LPL’s hybrid platform. The firm reported that, based on prior business, Cornerstone had served roughly $300 million of client assets as of June 30.

Philadelphia-based wealth management firm Westcott Financial Advisory Group has announced that Matthew Regan joined it as chief operating officer.

For the past four years, Regan worked as a consultant for a variety of financial-services firms, including Vanguard. From 1998 to 2012, he was a senior managing partner with WR Hambrecht & Co.


Read the Aug. 26 New Hire Roundup on ThinkAdvisor.


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