Wells Fargo's FiNet snags two Morgan Stanley advisers with $243 million in client assets

Wells Fargo Advisors Financial Network, or FiNet, snagged two former Morgan Stanley advisers who opened an independent practice. Tom Fautrel and Paul Carlson joined FiNet this month to open an independent practice, Seventy2 Capital, according to a statement from FiNet. Both had been with Morgan Stanley since 2011, according to their BrokerCheck reports. Seventy2 Capital is based in Bethesda, Md. FiNet is the independent contractor brokerage under the Wells Fargo brand. The team brings $243 million in client assets, according to FiNet. Mr. Fautrel and Mr. Carlson could not be reached for comment on Wednesday morning. Mr. Fautrel started his career in 2002 with A.G. Edwards, according to BrokerCheck, while Mr. Carlson began his in 1993 at Lehman Brothers. A spokeswoman for Morgan Stanley, Christine Jockle, did not return a call to comment. (See: Elizabeth Warren investigating sales of Prudential insurance policies by Wells Fargo )