An elite, $1 billion team at Morgan Stanley was unable to hold on to a young adviser who left the firm to join Oppenheimer, according to a person with knowledge of the move.

Andrew Koris, 28, departed Excelsior Wealth Management, a Manhattan-based group run by partners Craig Pastolove and Scott Sklar, the person, asking for anonymity, told On Wall Street. Pastolove is a past On Wall Street Top 40 Under 40 adviser who was ranked no. 5 in 2014.

Koris arrived at the Lazos Group at Oppenheimer, also in New York, a spokeswoman for the firm confirmed. That team is run by Christopher Lazos, who placed in On Wall Street's last Top 25 Regional Advisers Under 40 ranking, coming in at no. 7.

Koris is seen as promising financial planner with connections to Boston's medical community. He had considered a deal that would have expanded his participation at Excelsior, according to the person with knowledge of his departure. "They gave him a nice offer," the person said, adding that Koris stepped down from the team for several weeks to think about the proposal before turning it down.

A Morgan Stanley spokeswoman confirmed he left the wirehouse, but declined to comment further.

Koris began his career with Morgan in 2013, according to FINRA BrokerCheck records. He joined Oppenheimer on Dec. 19, the records show. His move comes as the employment offers are in flux because of the Department of Labor's fiduciary rule. The regulator issued guidelines in October that have impacted back-end compensation offers.

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