Morgan Stanley Nabs 11 Advisors From Competing Firms
Morgan Stanley Smith Barney and Morgan Stanley Private Wealth Management have hauled in a total of 11 new advisors from competing firms including UBS, Oppenheimer, Wells Fargo and Merrill Lynch.
In New York, Jason Haberman, Robert Brevetti and William Collins joined the firm’s midtown Manhattan complex this month from UBS, where they each spent seven years. Together, they previously had $3.4 million in annual fees and commissions. Their assets under management were not disclosed. They report to complex manager Ben Firestein.
Robert Reuben joined the firm’s 55 East 52nd Street branch in New York from Oppenheimer. Reuben previously managed $104 million in client assets and had $1.24 million in annual fees and commissions. He reports to branch manager Dave Turetzky.
In Albuquerque, N.M., Clovis Martin, Edward Jordan and Antonio Almaraz join Morgan Stanley from Wells Fargo. Together, they previously oversaw more than $200 million in client assets and had more than $2.4 million in fees and commissions. They report to complex manager Thomas Kovach.
In Birmingham, Mich., Don Gill and William LaRosa join from Merrill Lynch. Together, they previously had $469.9 million in client assets under management and $2.9 million in annual production. They report to complex manager George M. Manuelian.
For Morgan Stanley Private Wealth Management in Houston, brothers Scott Fortney and Grant Fortney join as private wealth advisors from Merrill Lynch. They previously had $885 million in client assets under management and $8.4 million in annual fees and commissions.
Scott Fortney ranked No. 4 in Texas on Barron’s Top 1000 listing in 2011, and No. 97 on Barron’s Top 100 for 2011. Grant Fortney ranked No. 38 in Texas on Barron’s Top 1000 listing in 2011.
“The Fortneys felt that Morgan Stanley PWM offers the best platform to serve ultra high net worth clients moving forward,” said Toby Richey of Houston-based executive recruiting firm Toby Richey & Associates.
They report to Arthur Kieval, senior vice president and regional manager at Morgan Stanley Private Wealth Management.
Lorie Konish writes for On Wall Street.