Wells Fargo continues to bolster its recruiting efforts with the addition of four Morgan Stanley advisors generating close to $5.6 million in annual revenue. The largest of the hires is Steven Esposito from Lake Forest, Illinois, who moved to Wells Fargo Advisors’ independent Financial Network channel. He managed $435 million in client assets and generated $2.8 million in annual production at Morgan. Esposito, a 39-year industry veteran, has worked at six firms, including Morgan Stanley for the past 14 years. Roni Murshad, a 20-year-industry veteran from Gaithersburg, Maryland, also made the move from Morgan to Wells FiNet. The advisor managed $79 million and generated $860,000 in annual production. Murshad, who began his career at Morgan Stanley in 2001, left after five years, and spent six years at Bank of America and Merrill Lynch, before returning to Morgan in 2012. In addition, two advisors from Westlake Village, California moved their team from Morgan to Wells Fargo. Howard Lee and Terri Lane managed $400 million and generated $2.1 million in annual production at Morgan. Lee started his career at Lehman Brothers in 1964, while Lane worked at six firms with stints at UBS and Bear Stearns, before joining Morgan Stanley.

Finsum:Wells Fargo bolsters its ranks with four Morgan Stanley advisors generating close to $5.6 million in annual production.