A veteran wirehouse team that oversaw $225 million in client assets left Morgan Stanley to join Wells Fargo Advisors Financial Network, a spokeswoman confirmed.
The team made the move to Wells Fargo's independent broker-dealer last week, according to FINRA BrokerCheck records.
Advisors Salvatore Pitti and his son Matthew were previously based in Morgan Stanley's Rochester, N.Y., office. They now operate as the Pitti Group Wealth Management in Victor, N.Y.
The elder Pitti had been with the wirehouse since joining the industry in 1994, according to BrokerCheck records. Prior to his career as a financial adviser, he served in the U.S. Air Force, according to his team's profile on Morgan Stanley's website. The younger Pitti joined him at the firm in 2006.
The team works with corporations, retirees, non-profits and HNW clients.
A spokeswoman for Morgan Stanley confirmed their departure but declined to comment further.
Wells Fargo's IBD has recently netted several other teams from Morgan. The firm said it enticed away advisers James Ritchie and Neil Thobani in Irvine, Calif. They managed $99 million in client assets, according to a spokeswoman.
And in Boulder, Colo., Wells Fargo recruited a husband and wife team, John and Claudia Barkmeier. While at Morgan, they oversaw more than $155 million in client assets.
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