Wells Fargo Recruits Morgan Stanley Advisers Managing $1 Billion

By Michael Wursthorn 

Wells Fargo Advisors recruited two teams of financial advisers from Morgan Stanley who managed a total of about $1 billion in client assets.

Advisers Jonathan Schlackman, Alan Weintraub and Joshua Zamat joined Wells Fargo at the end of August, a Wells Fargo spokeswoman said. Altogether, they oversaw about $700 million in assets at Morgan Stanley.

The advisers work out of separate offices, with Mr. Schlackman in New Orleans, Mr. Weintraub in Birmingham, Ala., and Mr. Zamat in Boca Raton, Fla. Previously, all three advisers had worked at UBS Group AG before joining Morgan Stanley in 2008.

The other team recruited from Morgan Stanley consists of advisers Ronald Perry, John Perry and Robin Johnson. They joined Wells Fargo on Sept. 11 and managed more than $300 million in client assets at Morgan Stanley.

Ronald Perry and his son, John Perry, work out of Boca Raton. Mr. Johnson is based in Short Hills, N.J.

Ronald and John Perry joined Morgan Stanley through its 2009 acquisition of Smith Barney from Citigroup Inc. They had worked at Smith Barney since 2006 and were both at Raymond James Financial Inc. before that.

Mr. Johnson, meanwhile, briefly worked at Smith Barney before joining Morgan Stanley.

A Morgan Stanley spokeswoman confirmed the departures but declined to comment further.

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(END) Dow Jones Newswires

September 21, 2015 16:44 ET (20:44 GMT)

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