October 29, 2021
By AdvisorHub Staff
Morgan Stanley Wealth Management continues to flex its recruiting muscle and has snagged a six-advisor team from UBS Wealth Management USA in Washington, D.C. that had managed $1 billion in client assets, according to a person familiar with the moves.
It also nabbed a solo advisor from Merrill Lynch Wealth Management in Northern California who had managed $250 million in client assets, according to a source familiar with the move and BrokerCheck records.
The team of six advisors, who average over three decades of industry experience, joined Morgan Stanley’s private wealth management group focused on ultra-rich customers. They had been called Liberty Capitol Group at UBS’s private wealth management group and are keeping that moniker at Morgan Stanley, even though some of their former teammates stayed behind and also continue to use the name at UBS, according to their respective websites.