* 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 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
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
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
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