By Corrie Driebusch
Morgan Stanley Smith Barney has hired away several advisers in
recent days from competitors including Bank of America Corp.'s
(BAC) Merrill Lynch Wealth Management; UBS AG's (UBS, UBSN.VX) UBS
Wealth Management Americas unit; Wells Fargo Advisors, the
brokerage unit of Wells Fargo & Co. (WFC); and LPL Financial
Holdings Inc. (LPLA).
Altogether, the new additions managed about $1.2 billion in
client assets at their prior firms.
Matthew Zaft and Connor McKinney joined Morgan Stanley Smith
Barney's Washington, D.C., office where they will report to complex
manager Michael Maurer. The Zaft McKinney Group had generated about
$1.8 million in annual fees and commissions at Merrill and had $219
million in assets under management.
Mr. Zaft had worked at Merrill for seven years and before that
at Wachovia Securities for two years, according to regulatory
records. Mr. McKinney had been employed at Merrill for a little
less than two years, the records showed.
Christopher Agnew, Gary Hewitt and Darrell Henricksen joined
Morgan Stanley Smith Barney's Davenport, Iowa, office from Merrill.
The team, which managed more than $300 million, will report to
branch manager Nathan Stoffregen.
Mr. Agnew had been with Merrill since 1981, according to
regulatory records, while Mr. Hewitt had worked at Merrill for more
than six years and Mr. Henricksen for 16 years.
Other new hires at Morgan Stanley Smith Barney include Keith
Munera and John Wildemore, who joined the brokerage's Berwyn, Pa.,
office from UBS. The team had a combined production of more than $3
million on client assets of about $315 million. They will report to
branch manager Anthony Favoroso.
Mr. Munera was at UBS for eight years, according to regulatory
records, while Mr. Wildemore was registered at the firm more than
30 years.
The brokerage also picked up Angel Colina from Wells Fargo
Advisors. He will work out of Morgan Stanley Smith Barney's Miami
office and report to complex manager Kevin McCarty. While at Wells
Fargo he generated more than $2 million in fees and commissions on
$240 million in client assets.
He worked for Wells Fargo and predecessor firm Wachovia
Securities for about 12 years, regulatory records show.
Mark Ralston of LPL Financial joined the brokerage's Wichita,
Kan., office, where he will report to branch manager John Dunlop.
His production was $1.5 million on $143 million in client
assets.
Mr. Ralston was at LPL Financial for the past four years,
according to regulatory records.
Representatives for Merrill Lynch and Wells Fargo confirmed the
departures but declined to comment further. Representatives for LPL
Financial and UBS were not immediately available for comment.
(Street Moves chronicles the migration of executives on Wall
Street, with a particular emphasis on financial advisers with more
than $1 million in annual production and who manage more than $100
million in client assets.)
Write to Corrie Driebusch at corrie.driebusch@dowjones.com
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