Investment advisory firm Concert Wealth Management has added one more wirehouse financial advisor from Morgan Stanley Smith Barney to its roster.

Rene Nourse has established a new company, Urban Wealth Management, in El Segundo, Calif., that will use Concert Wealth Management for advisory services and Concert Advisor Services for back office support.

Concert, which is based in San Jose, Calif., made news earlier this year with the hiring of several advisors from Bank of America Merrill Lynch.

(Concert is one of five ideal options for breakaway brokers, but what are the other four? Check out Mindy Diamond's comprehensive list.)

Nourse makes the transition following more than 30 years in the financial services industry. She had been registered with Morgan Stanley since 2009, according to her public registration records with the Financial Industry Regulatory Authority, following a nine-year stint at Citigroup Global Markets. She also previously served at Prudential Securities and Dean Witter.

“Having previously worked at large Wall Street firms for the past 25 years, I now have the opportunity to provide clients the best of my experience and skill sets – Private Wealth Management combined with the principles of financial planning,” Nourse said in a statement. “In my view, this combination helps to promote a greater level of transparency and a culture that is more client-centric.”

Concert Wealth Management is a subsidiary of Concert Global Group Ltd. that works with independent financial advisors. The firm is looking to hire about 40 financial advisors this year, Concert Global Group CEO Felipe Luna told On Wall Street in February.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access