April 5, 2012 / 2:27 PM / 5 years ago

ON THE MOVE: Morgan Stanley Smith adds advisers from UBS

April 5 (Reuters) - Morgan Stanley Smith Barney, the largest U.S. brokerage by client assets, has added two veteran advisers from UBS AG's Americas wealth management group in Michigan, the company said on Thursday.

Advisers Mark Sherwood and Saralyn Coupe joined Morgan Stanley Smith Barney in February from UBS, where they had been advisers for roughly a decade each.

The two advisers, along with senior registered associate Lori Hess, joined Morgan Stanley Smith Barney's Grand Rapids, Michigan, branch, where Patrick O'Donovan is complex manager.

Both Sherwood and Coupe have worked in the industry for more than two decades each. They formed a husband and wife advisory team, through which they now serve clients together.

Both had also previously worked at Merrill Lynch, the brokerage now owned by Bank of America Corp.

The team managed more than $200 million in client assets in 2009 at UBS, based on a 2010 ranking by the Grand Rapids Business Journal.

Morgan Stanley Smith Barney declined to comment on the advisers' production and prior assets.

The firm, which formed from the merger of Morgan Stanley's wealth management unit and Citigroup's Smith Barney, had more than 17,500 advisers managing about $1.65 trillion in client assets at the end of 2011.

Morgan Stanley Smith Barney also recently added a team of four veteran UBS advisers in Mt. Laurel, New Jersey, that managed $800 million in client assets and generated $6 million in revenue last year.

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