$285M Morgan Advisor Goes Independent

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A Morgan Stanley advisor who managed more than $285 million in assets left the wirehouse to join Wells Fargo's independent brokerage network, a spokeswoman said.

Last week, Mark Bailey joined the firm in Buffalo, N.Y. It isn't Bailey's first time going independent. He previously worked at LPL from 1996 to 2008, according to FINRA records.

Bailey, who has nearly 30 years of experience in the industry, had been with Morgan Stanley since 2010, according to FINRA records. Prior to Morgan, he worked at UBS for two years.

Earlier this month Wells Fargo said it lured away four Morgan advisors who collectively managed more than $220 million in assets.

Advisors Munther Abdallah and Rick Sofiak joined the firm's office in Orland Park, Ill., a suburb of Chicago, where they report to Kevin Ortmeyer, Wells Fargo's market manager.

Advisors Lee Turmail and Jesse Miles joined Wells Fargo in Boca Raton, Fla., where they report to Michael Origlia, senior vice president and branch manager.


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