Wells Fargo has lured a New York-based team of four financial advisors from Morgan Stanley-Alpert Group that managed more than US$1 billion in client assets.

The Alpert Group joined the Woodbury, New York, branch of Wells Fargo Advisors last week.

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The team includes Robert Alpert, Charles Ladenheim, Robert Fusaro and Michael Montuori and five client associates.

Wells Fargo said that the team has previously managed more than US$1 billion in client assets and their annual production in fees and commission was roughly US$5.8 million.

Alpert and Ladenheim joined Citigroup two decades ago while Fusaro and Montuori joined Citigroup in 1996 and 2000, respectively, according to FINRA records.

All four remained when its Smith Barney brokerage merged with Morgan Stanley in 2009. Alpert joined Morgan Stanley in 1983.

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