Morgan Stanley Wealth Management

The breakaways join 72 others who moved their practices to the firm in the second quarter.

The firm’s new additions include three brokers previously affiliated with Wells Fargo Advisors.

This is the 14th new location the regional BD has opened so far this year.

The Anthony Bunnell addition comes amid expansion of the firm’s its retirement plan business this year.

The new recruits bolted from Morgan Stanley after nearly 20 years with the wirehouse and its predecessor firms.

The firm's most recent lawsuit over alleged non-solicitation violations centered on an advisor's thank-you cards to clients.

The new recruits managed over $300 million in client assets.

The wirehouse’s pipeline for incoming brokers is at a two-year high.

On the wealth management side, Morgan Stanley posted $4.41 billion of revenue, which was 2% higher than last year and blew away analysts’ estimates for a 9% decline.

James Gorman dismissed any speculation after the unit posted record revenue and pretax profit in the second quarter.