Morgan Stanley hires two adviser teams managing $678M

Morgan Stanley Wealth Management has hired two teams of financial advisers who managed $678 million for their clients at Edward Jones and UBS Wealth Management Americas. Ted and Aaron Bowling joined the brokerage's Oklahoma City-area office Friday, according to Morgan Stanley spokeswoman Christine Jockle. They earned $1.77 million in annual revenue on $344 million in assets at Edward Jones, their former employer. In a statement, Edward Jones described Ted Bowling, who is Aaron's father, as a well-respected adviser “who made a significant contribution to his clients and his branch.” The firm will continue to serve clients at a branch in Duncan, Okla., according to Edward Jones. Mr. Bowling started at Edward Jones in 1982, according to regulatory filings. His team is the largest, by assets, to ever shift firms in Oklahoma, according to self-reported data collected in the InvestmentNews Advisers on the Move database. Also on Friday, Robert P. Schneider joined Morgan Stanley in Louisville, Ky., according to Ms. Jockle. Mr. Schneider's eponymous firm, which includes financial adviser Paige Abner-Peden, managed $334 million for clients and earned more than $3 million in annual revenue at UBS, according to Morgan Stanley. Mr. Schneider, who has been with UBS since 1989 according to regulatory filings, was ranked sixth among advisers in Kentucky by Barron's this year. His team is the largest of three to move firms in Kentucky this year, according to Advisers on the Move. A spokesman for UBS Wealth Management, Gregg Rosenberg, declined to comment.