Proving that the competition is still strong for financial advisors from rival wirehouses, Morgan Stanley Smith Barney has snapped up two wealth advisory teams and one team for its Graystone Consulting institutional business.
Financial advisors Frank Bagrier and Wes Coyle join from UBS, where they previously oversaw $135 million in client assets and had $1.14 million in annual fees and commissions. They will be based in Morgan Stanley’s Woodlands, Texas, office and report to branch manager Jason Jones.
Three-member advisory team Jeffrey Hollingsworth, William Simpson and Craig Billingsley join from Wells Fargo, where they had $3.2 million in combined annual production. They will be based in Clayton, Mo., and report to complex manager Richard Lindquist.
Morgan Stanley has also hired John Bello, Brian Mackert and Christopher G. Olszewski as institutional consultants. The team will be based in Westlake, Ohio, and work with the firm’s institutional consulting team in Pittsburgh led by Gregory K. Simakas.
Bello comes to Morgan Stanley from UBS, and also previously served at McDonald Investments. He focuses on working with corporations, endowments, and trusts and estates.
Mackert will serve as a wealth management strategist, including creating asset allocations and planning for retirement. Olszewski will continue to serve as a client service associate for the team, the role that he has served in for more than 13 years.
“I am thrilled to join Graystone Consulting and the Simakas team,” Bello said in a statement. “We share many of the same values, including a focus on providing every client with impartial, customized advice backed by in-depth research. Graystone Consulting enhances our ability to achieve this by offering the strengths of a boutique investment consultant backed by the extensive resources and capital markets expertise of Morgan Stanley Smith Barney.”
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