Morgan Stanley Wealth Management has lured another high-asset advisor team from wirehouse rival UBS, according to registration records and Morgan Stanley's online directory.
The Brown Wealth Management Group, based in Paducah, Kentucky, has joined Morgan Stanley from UBS, where they oversaw about $1.2 billion in client assets as of June 2023, according to Forbes. Morgan Stanley Market Executive Frank Roccisano announced the move on LinkedIn on Tuesday.
The team's advisors, Jamey Brown, Daniel Brown, Lydia May and Jason Straub, bring a combined 66 years of experience, nearly all at UBS. The Brown Group was launched at UBS in 2001, by Jamey Brown and his father, according to the team's webpage.
Jamey Brown and Daniel Brown have been in the industry 22 years and 16 years, respectively, all at UBS, according to their BrokerCheck records.
May is the most experienced of the group, with 26 years in the business, per BrokerCheck. She joined UBS in 1998, after four years at Invest Financial Corp.
Straub had been at UBS since entering the industry nearly three years ago.
The team also includes Chief of Staff Kristy Taliaferro, who had been at UBS since 2001; Wealth Management Associate Adrienne Yeager; Client Service Associates Margaret Morris and Debra Sommer; and Registered Client Service Associate Melissa Breeden.
Morgan Stanley has endured a rocky few weeks of advisor attrition, losing teams overseeing more than a billion dollars in assets each to Merrill Lynch, Wells Fargo and Rockefeller Capital Management since the start of September. But the firm has now taken at least two such teams from UBS this month, the first being a nine-person New York-based team overseeing about $2.7 billion.