Last week had been bad for Morgan Stanley Smith Barney as it lost a team of three advisors who collectively managed US$1.7 billion in client assets.

The seven advisors will join Morgan Stanley’s branch in New York, New Jersey and Ohio.

Ex-RBC Dain Rauscher advisor Mark Donohue will join Morgan Stanley’s News York City office and will be reporting to Henry Kaplan, complex manager. Donohue has managed more than US$700 million in assets and commanded annual fee and commission of US$6 million.

Morgan Stanley has also recruited the Naples Team, comprising of Gregory Naples and Chris Naples, who will be joining the Ohio office and will be reporting to Paul Sheeks, branch manager.

The team commanded annual fees and commission of close to US$1.3 million and handled US$100 million in assets under management.

Bryan Jones and James Woods of the Jones/Woods Group from Merrill Lynch will join the Akron, Ohio office. The team will report to Northern Ohio Complex Manager Thomas Russ. The group managed US$210 million, with a combined yearly fees and commissions of nearly US$2 million.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Private Banker International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Another group deserting Merrill Lynch and joining Morgan Stanley is the Bernstein Rosen Group. Nancy Bernstein and Greg Rosen of the group will join the firm’s Bedminster, New Jersey office and will be reporting to branch manager Robert Milligan. The team handled assets of US$157 million and commanded a fees and commission of roughly US$1.4 million.