Morgan Stanley Snags $3.7 Billion UBS Team Across Three States

Morgan Stanley has recruited a $3.7 billion team from UBS with offices spanning three states, demonstrating that wirehouse-to-wirehouse moves remain common even as the breakaway trend accelerates.

Morgan Stanley has landed one of the larger wirehouse-to-wirehouse recruiting wins of the fall, bringing over a UBS team managing approximately $3.7 billion in client assets with offices in Dallas, Atlanta, and Jacksonville, Florida. The group, known internally as Executive Financial Advisors, represents a significant addition to Morgan Stanley's already substantial advisor force.

The move came together in November amid continued turbulence at UBS, where compensation changes have driven dozens of teams to competitors throughout 2025. Sources familiar with the situation say the team had been in discussions with multiple firms but ultimately chose Morgan Stanley for its technology platform and the ability to maintain their multi-office structure without disruption.

A Different Kind of Move

What makes this departure noteworthy is its complexity. Multi-office teams are notoriously difficult to recruit because each location involves separate logistics, client relationships, and compliance considerations. Morgan Stanley's ability to execute a three-city transition speaks to the firm's recruiting infrastructure—and to how motivated the team was to leave UBS.

Morgan Stanley has been a steady recruiter from UBS throughout 2025, picking up at least seven teams from the Swiss bank. The firm has also lost talent to competitors, including a $705 million team that moved to RBC Wealth Management and a $1.7 billion group that joined Wells Fargo. But on net, Morgan Stanley has been a recruiting winner this year, leveraging its technology investments and wealth management platform to attract large teams.

What It Means

The move reinforces a pattern that has defined 2025's recruiting landscape: UBS as the primary source of talent for every other major firm. With 39 teams and $52 billion in assets departing UBS this year, the Swiss bank has become the industry's de facto farm system—a role that would have been unthinkable just two years ago.

For Morgan Stanley, the addition of $3.7 billion in advised assets adds roughly $25 million to $30 million in estimated annual revenue, though the actual contribution will depend on the team's fee structure and product mix. UBS declined to comment.