ON THE MOVE: Morgan Stanley Smith Barney hires nine advisers

Tue Nov 22, 2011 3:51pm EST

* New MSSB advisers have combined $10 mln in 2011 revenue

* Recruiter sees big push for new hires before holidays

* Wells Fargo Advisors recruits MSSB adviser

By Ashley Lau

Nov 22 (Reuters) - Morgan Stanley Smith Barney, the largest U.S. brokerage by assets, has hired nine advisers who managed more than $1 billion at their previous firms, the company said on Tuesday.

The new hires, from Merrill Lynch, RBC Dain Rauscher and LPL Financial, are the latest additions to the firm, which said last Tuesday it hired seven new advisers.

Recruiter Danny Sarch, who works with financial advisers, said he expects there will be a big push for new hires into the first week of December before the Financial Industry Regulatory Authority, or FINRA, shuts down for the holidays.

The nine advisers joining Morgan Stanley Smith Barney together generated more than $10 million in revenue last year.

In Florida, advisers Marc Walters, Todd Austin and Sean Weber joined Morgan Stanley Smith Barney's Tampa office from Bank of America's Merrill Lynch, where they managed a combined $450 million in client assets. Walters had been with Merrill for more than 15 years.

The three advisers collectively generated $5.3 million in revenue last year and now report to branch manager Jacob Heron.

In Texas, advisers Joseph Neuhaus and Karen Jankowski joined the firm's Houston office from RBC Dain Rauscher, where they managed $284 million in client assets.

The advisers, who had both been in the industry for more than two decades each, produced roughly $1.9 million in revenue last year. They report to complex manager Lisa Cregan.

In Ohio, adviser Philip Noble joined Morgan Stanley Smith Barney's Toledo office from LPL Financial, where he oversaw $116 million in client assets. Noble last year generated about $1.3 million in revenue.

He now reports to branch manager Scott Brown.

In New Jersey, Morgan Stanley Smith Barney hired a team of three advisers, John Alex, Jose Pietri and Thomas Laughlin, to join its Redbank office. The team had previously worked at Merrill Lynch, where they managed a combined $200 million in client assets.

The three advisers generated about $1.7 million in revenue last year and now report to complex manager Chris Shaw.

In a separate move, Wells Fargo Advisors said on Tuesday it hired former Morgan Stanley Smith Barney adviser Gilbert Bickel in Frontenac, Missouri. He managed $129 million in client assets at the firm and last year generated $930,000 in revenue.

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