UBS, Ameriprise Brokers Poached by Morgan Stanley

By brett philbin

Brokerage joint venture Morgan Stanley Smith Barney recently recruited four financial advisors from UBS Wealth Management Americas, a unit of UBS AG, and Ameriprise Financial Inc.

On May 5, Shawn Liebel and Kevin Forney joined Morgan Stanley Smith Barney's Pepper Pike, Ohio office from UBS. The team, which reports to branch manager Robert Hartmann, generated $1.5 million in fees and commissions and managed $211 million in clients assets.

Before joining Morgan Stanley Smith Barney, Liebel worked at UBS for more than 11 years, while Forney spent over 10 years at UBS and predecessor firm McDonald Investments Inc., according to Financial Industry Regulatory Authority records. In 2007, UBS bought McDonald Investments from KeyCorp for $280 million.

Other new hires at Morgan Stanley Smith Barney include Robert Coloret and Mark Delmar, who joined the firm's Tampa, Fla. office from Ameriprise. The two advisors together had $1.2 million in annual production and $107 million in client assets. They report to Jacob Heron, branch manager.

Coloret was a 14-year Ameriprise veteran, while Delmar spent 24 years there, regulatory records show.

UBS and Ameriprise didn't immediately respond to requests for comment.

Brett Philbin is a reporter for Dow Jones Newswires, where this story originally appeared. Write to him here.




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