NEW YORK, Aug 5 (Reuters) - Wells Fargo Advisors, Wells Fargo & Company’s registered broker-dealer, said Tuesday it hired two veteran financial advisers away from Morgan Stanley to join its office in Denver, Colorado.
Phillip “Chris” O‘Neil and Joseph Jaensen joined Wells Fargo on Monday with a combined 50 years of industry experience. At Morgan Stanley, they managed $300 million in client assets.
Wells Fargo is one of four large U.S. brokerages traditionally called wirehouses, which also include Morgan Stanley, Bank of America Corp’s Merrill Lynch, and UBS Wealth Management Americas.
The brokerages often compete with each other for top advisers.
Morgan Stanley did not immediately respond to requests for comment. (Reporting by Elizabeth Dilts; Editing by Dan Grebler)