Morgan Stanley Wealth Management has lured a team of financial advisors from Merrill Lynch that managed more than US$1.3 billion in client assets.
The team, which includes advisors Michael Torpey and Charles Malamut, has joined the firm’s Northfield, N.J., office.
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Torpey and Malamut will report to Chris Shaw, Southern New Jersey complex manager at Morgan Stanley.
The team previously had annual production in fees and commission of more than US$3.5 million.
Torpey had served as a financial advisor at Merrill Lynch since 2008. Prior to this, he worked at Citigroup and UBS. Malamut joined Merrill Lynch in 1986.
At the same time, Jon Garofalo has also joined Morgan Stanley in Westport, Connecticut. Garofalo previously managed $175 million in client assets and generated $1.5 million in revenue over the last 12 months.
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By GlobalDataIn his new role, Garofalo will report to branch manager Patrick Tiani.
Garofalo, who joined JP Morgan Securities in 2012, started his career in 1998 and also served at a number of brokerages.
