Billion-dollar teams on the move

RBC Wealth Management has picked up two financial advisers who managed roughly $1 billion in client assets at Morgan Stanley Wealth Management, an executive from RBC said Monday. Separately, Morgan Stanley has landed three teams of advisers managing over $1 billion combined. At RBC, Ira H. Mark and Michael Berger will join the Midtown New York office as senior vice presidents, John Moran, RBC's complex director for New York and Long Island, said in a statement. The team includes three registered client associates. The advisers' production last year was $5 million. Christine Jockle, a Morgan Stanley spokeswoman, confirmed the advisers' departure but declined to comment further. RBC also hired its first adviser in San Diego to focus on international high-net-worth clients, branch director Michael Melton said in a separate statement. Nils Clark, who managed more than $100 million for Wells Fargo Advisors LLC clients in Mexico, joined RBC's nearly-one-year-old branch office in San Diego. The firm's International Advisor Group has 25 financial advisers based in cities including Miami, New York and Houston. Their foreign clients have investment interests in the United States. Mr. Clark's trailing 12-month production was approximately $860,000, said RBC spokeswoman Ann Wasik. Erica Van Ross, a Wells Fargo spokeswoman, confirmed Mr. Clark's Aug. 30 departure but declined to comment further. In a statement, Morgan Stanley's Ms. Jockle said Theresa E. Chacopulos, who managed more than $1 billion at Wells Fargo Advisors, joined the Morgan Stanley's wealth management division in Scottsdale, Ariz., on Oct. 4. Morgan declined to provide her production figures. But Ms. Van Ross said Ms. Chacopulos managed only $302 million in assets held at Wells Fargo before leaving, and added that Morgan's figure may include assets held outside of the firm. Morgan Stanley also added the father-and-sons team of Fred Costantino Sr., Fred Costantino Jr. and Michael Costantino at its office in Binghamton, N.Y. on Sept. 27. The Costantino Group produced $1.283 million on assets of $123 million at Wells Fargo. Ms. Van Ross confirmed their departure. Francesca Zavolta joined Morgan Stanley in Manhattan on Oct. 4, Ms. Jockle said. She managed $74 million in client assets at Barclays Wealth and Investment Management and had trailing 12-month revenues of $1.263 million, according to Ms. Jockle. A Barclays spokeswoman did not immediately return a request for comment.