A group of six financial advisors has left a wirehouse to go independent with another wirehouse.
Matt Petersen, Dwayne Michael, Michael Budd, Brian R. Gibson, Randy Gibson and Andy Carrigan left Morgan Stanley recently to join Wells Fargo Advisors Financial Network, the firm’s channel for independent reps.
The group plans to do business as Encore Wealth Management in Fresno, California, the largest city in the Central Valley. In total, the veteran advisors have more than 160 years in the business and close to $600 million in client assets.
Michael, for instance, joined Dean Witter Reynolds in 1979; that broker-dealer merged with Morgan Stanley in 1997. Budd had been with Morgan Stanley since 2008, but cut his teeth at Drexel Burnham beginning in 1981.
Peterson started his career at Morgan Stanley Dean Whitter in 2000.