Morgan Stanley

The new recruits joined the wirehouse from Merrill Lynch and UBS.

Yet that wasn't Merrill's only recruiting success, as the wirehouse also picked up a team overseeing more than $500 million in client assets.

The case centered on the supervision of a now-barred broker, whose misconduct included encouraging athletes to invest in a Miami Beach nightclub and sending baskets of tequila to pro sports teams, according to FINRA.

The recruits made the move between wirehouses with two client associates.

The head of the advisory group also was returning to where his career started.

The new recruits are industry veterans who oversaw more than $330 million in client assets.

The firm's newest recruits generated $3.5 million in annual revenue.

The firm's newest hire was an ex-Morgan Stanley complex manager.

The wirehouse terminated the broker two days after losing a $34 million arbitration case brought by the client's widow, who alleged elder abuse and other misconduct.

The recruit made more than $1 million in production before making the move, according to the regional broker-dealer.