Advisers managing $587M join Wells Fargo from Morgan Stanley

A team of financial advisers in California that manages $587 million in client assets has joined Wells Fargo & Co.'s independent brokerage arm from Morgan Stanley. Matt Petersen, Dwayne Michael, Michael Budd, Brian Gibson, Randy Gibson and Andy Carrigan are now providing financial advice at Encore Wealth Management, an independent practice that's part of Wells Fargo Advisors Financial Network. The Fresno, Calif.-based advisers oversee $587 million of client assets, according to Wells Fargo Advisors Financial Network, often referred to as FiNet. The bank's independent brokerage arm has more than 630 wealth management practices and more than 1,300 financial advisers, according to its website. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) Christine Jockle, a spokeswoman for Morgan Stanley, confirmed the departure of the advisers and declined further comment.