Morgan Stanley adds $3 million adviser

NEW YORK, July 20 (Reuters) - Morgan Stanley Smith Barney has recruited an adviser who generated more than $3 million of annual fees and commissions for First Allied Securities, the company confirmed on Tuesday.

Laurence Braunstein joined Morgan Stanley Smith Barney's office on East 52nd Street in New York City. He spent almost seven years at First Allied Securities, a subsidiary of Advanced Equities Financial Corp, according to filings from the Financial Industry Regulatory Authority.

Braunstein previously oversaw $200 million of client assets and generated $3.07 million of annual fees and commissions, according to a source familiar with his business.

Morgan Stanley Smith Barney is a joint venture between Morgan Stanley (MS.N) and Citigroup Inc (C.N). (Reporting by Helen Kearney; Editing by Steve Orlofsky)