Morgan Stanley team with $427M in assets jumps to Wells Fargo

Morgan Stanley team with $427M in assets jumps to Wells Fargo
Brian Latz, John Cicillini and Kenneth Cariota joined their new firm Sept. 1.
SEP 27, 2016
A team of financial advisers that manages $427 million of client assets has left Morgan Stanley for Wells Fargo & Co.'s brokerage business. Brian Latz, John Cicillini and Kenneth Cariota last week joined Wells Fargo Advisors' branch in Paramus, N.J., according to a Wells Fargo spokeswoman. They report to branch manager William George and Tim Sheridan, who oversees the New Jersey Highlands market. (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. Mr. Latz, Mr. Cicillini and Mr. Cariota each had worked for Morgan Stanley since June 2009, according to Financial Industry Regulatory Authority Inc.'s BrokerCheck. Before that, they were employed by Citigroup Inc. Wells Fargo's retail brokerage business had 15,042 advisers at the end of June and $1.5 trillion in client assets, according to a supplement to the bank's second-quarter earnings report. Wells Fargo Advisors recently recruited another broker from Morgan Stanley, Kenneth Ibbetson, who managed about $107 million of assets when joining the firm in Brea, Calif. on Aug. 19.

Latest News

Securitize becomes RIA as tokenized assets near $37B record
Securitize becomes RIA as tokenized assets near $37B record

Tokenization goes mainstream with regulators watching prompting some firms to take a proactive approach.

Global tax reforms may offer US expats rare window of relief
Global tax reforms may offer US expats rare window of relief

A new Deloitte survey of 1,010 tax leaders finds OECD reforms and Safe Harbour rules could ease cross-border tax burdens for Americans abroad.

More data isn’t the same as more clarity
More data isn’t the same as more clarity

Flyer on wealth management data aggregation, AI agents, and closing the insight-to-action gap.

Ex-JPMorgan banker refiles harassment claims in federal court
Ex-JPMorgan banker refiles harassment claims in federal court

Chirayu Rana has added two executives as defendants after dropping his state case against JPMorgan Chase last week.

Betterment lawsuit just scratches the surface on cash sweep conflicts, says Max CEO
Betterment lawsuit just scratches the surface on cash sweep conflicts, says Max CEO

A class action over the digital brokerage's cash sweep program only hints at an industry-wide reckoning over how client cash is handled, says Gary Zimmerman.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income