Jan 29 Morgan Stanley Wealth Management said on
Tuesday it added two veteran adviser teams that managed a
combined $750 million in client assets from rival brokerage UBS
Wealth Management Americas.
In Florida, adviser Kevin Cooper joined Morgan Stanley's
Boca Raton office from UBS, where he managed $400 million in
client assets and had annual revenue production of $1.6 million.
Cooper, who was a senior vice president at UBS, was listed
among Florida's top advisers in a 2011 Barron's ranking. He now
reports to Morgan Stanley complex manager Bert White.
In New Jersey, advisers John Ryan, David Nelson, James
Gallagher and Philip Martinho joined Morgan Stanley's Shrewsbury
office from UBS. The team managed $350 million in client assets
and generated more than $2.8 million in annual revenue at the
Both Ryan and Nelson were senior vice presidents at UBS,
previously based out of the firm's Red Bank, New Jersey office.
The team now reports to Morgan Stanley branch manager Todd
Morgan Stanley Wealth Management, the largest U.S. brokerage
by adviser headcount and client assets, is majority owned by
Morgan Stanley and partially owned by Citigroup.
UBS Wealth Management Americas ranks fourth among top U.S.
brokerages and is owned by the Swiss bank UBS AG
The two wealth management units often vie for the same group
of veteran advisers, along with Bank of America Corp's
Merrill Lynch and Wells Fargo & Co's Wells Fargo
UBS confirmed the departures, but declined to comment