[ by Melanie Gretchen ] Morgan Stanley Smith Barney hired 11 new advisers who collectively manage $1.7 billion in client assets - 2 are headed for MS's Private Wealth Group.  The advisors were recruited from UBS, Wells Fargo, Oppenheimer, and Bank of America - Merrill Lynch. The first week tends to be busier from deals arranged before year's end.  Trends for 2012 recruiting begin to emerge by the third and fourth weeks of January. MSSB's biggest catches, by far, were 2 advisers from Merrill Lynch who joined the private wealth group and will report to a regional manager.  On a combined basis, Scott Fortney and Grant Fortney managed $885 million in client assets - more than half the group's total - and generated $8.4 million in revenue.

[C-I Note: Each presumably took down a whopping signing bonus.  Giving special mention to the former BA-ML advisers is, in no way, intended to disparage the other nine who, on average, each managed about $100 million - excellent books of business.]

[Reuters, 1/10/12]