Wells Fargo FiNet has lured away three advisers from Morgan Stanley and Edward Jones to its independent platform.

"My reason for leaving was just a desire for more freedom," says Cody Callaway, who left Edward Jones to start his own firm, Callaway Capital Management in Broken Arrow, Olka., just outside of Tulsa.

"When you have the privilege of owning your own [firm]," Callaway says, "you are entitled to have your own voice and own identity out in the community. If you have a desire to put something in the paper or some other form of the media, you have that opportunity."

Image: Bloomberg News
Image: Bloomberg News

Callaway and his operations manager, Jill Spurgeon, manage about $132 million in client assets out of their two-person office, he says.

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"When you have the privilege of owning your own [firm], you are entitled to have your own voice and own identity out in the community.”

Bob Mundell also left Edward Jones for Wells Fargo FiNet to open Signature Private Wealth Management in Waterloo, Iowa, with more than $164 million in AUM, according to a statement.

A trio of advisers, John Barkmeier, Claudia Barkmeier and Paul Rohr, left Morgan Stanley's office in Boulder, Colo., to open Barkmeier Financial Consulting Group. The team manages $155 million in AUM, the statement also says.