Morgan Stanley Builds Out In Tampa, Suburban Cleveland

Monday, May 16, 2011 23:55
Morgan Stanley Builds Out In Tampa, Suburban Cleveland

We can see a trend forming as Morgan Stanley absorbs another big advisory team from UBS -- and this time, for variety, one from Ameriprise.

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While Morgan has been shedding plenty of top-tier advisors to other wirehouses as well as the independent channel, it has been pulling a fair number of teams away from UBS.


Just a week ago, the news was that Morgan had grabbed a truly massive New York City team -- estimated AUM could be above $8 billion.


This time, the UBS defectors are smaller and a little less senior, having worked for the Swiss bank for about a decade. Shawn Liebel and Kevin Forney jointly managed about $211 million from their office in Pepper Pike, Ohio and produced $1.5 million for a fairly typical UBS ROA of 0.7%.


Morgan also picked up Robert Coloret and Mark Delmar from Ameriprise's Tampa operation. They managed $107 million and generated a much more substantial 1.1% ROA on those assets, for overall production of $1.2 million.


Interesting that the Ameriprise team managed to do fairly comparable production off roughly half the AUM as their UBS peers. On the other hand, they've been in the industry almost twice as long, so should've picked up plenty of ways to maximize their return on assets.



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