Morgan Stanley has expanded operations in Louisville, Ky., with a former UBS duo who produced over $3 million in combined revenue.
The firm picked up advisors Robert P. Schneider and Paige Abner-Peden who operate as The Schneider Wealth Management Group. Together, they managed some $334 million in assets at UBS.
Abner-Peden began her career in 1999 with UBS, according to FINRA records.
Schneider has 24 years of experience in the industry and had been with UBS since 1990, registration records show.
At the time of his joining Morgan Stanley, he had a pending customer dispute seeking $2.1 million in compensatory damages for allegedly unsuitable investments tied to an investment in UPS stock from 2008 to 2009, according to a summary submitted by UBS to his FINRA BrokerCheck record.
A Morgan Stanley spokeswoman said that the firm was aware of the disclosure and evaluated it as part of their due diligence during the hiring process.