Friday, October 23, 2015

Broker Independence: Morgan Stanley Advisors Join FiNet

The move to independence continues. Two Morgan Stanley advisors with $152 million in combined client assets have gone independent with the Wells Fargo Advisors Financial Network.

Wells Fargo Advisors,Ex-Morgan Stanley Advisor Gene Petro has opened an independent practice with FiNet in Mobile, Ala. with roughly $66 million in AUM, according to the firm. Since getting his start in the securities industry with E.F. Hutton in 1980, Petro worked for Shearson Lehman Hutton, Citigroup and the Robinson-Humphrey Company, according to FINRA.

Roberta Hunter, also from Morgan Stanley, brought over $86 million in AUM to her newly opened independent FiNet practice in Santa Cruz, Calif., the firm says. Hunter also has previous experience with Citigroup, BrokerCheck records show.

Morgan Stanley Advisors With $152M in AUM Join FiNet

The attorneys at Sallah Astarita & Cox represent brokers and advisors in transitions between firms, and in the creation of their own RIAs and broker-dealers. Call today for a free consultation - 212-609-6544

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