Big broker Wilson brings team to Morgan Stanley from UBS

Insider Louisville has learned that prominent financial advisor Dick Wilson has brought over his entire team from UBS to Morgan Stanley. The team had been called the Trident Group at UBS, and includes: Robert “Bob” Phelps, Beth Williamson, and Mary Jacqueline “Jackie” Winter.

Dick Wilson

Dick Wilson

In an interview with IL, Wilson was ecstatic, noting the team has the potential to manage close to $250 million, which is around what its book of business was worth at UBS.

Wilson, long one of Louisville’s best-known and top-rated financial advisors, came over to Morgan Stanley in September, after 14 years at UBS.

“I came over first, and it’s guilt by association,” he said. “I cleared the brush, and they came over in concert (on Friday).”

Wilson is 65 years old and sees this being his last career move: “I’m so damn happy to be here.”

When advisors leave a firm, it’s not a given their clients will follow. Wilson says that since he and his team are in the money management/advice business, and not simply making trades for clients, this makes the task much easier. Their business is based on relationships between people.

He said one big reason he left UBS was because his manager there, Frank Roccisano, had left years earlier for Morgan Stanley. Roccisano is now complex manager at Morgan Stanley Wealth Management.

One industry source who requested anonymity said Roccisano is able to lure talent like Wilson thanks to lucrative compensation offered at Morgan Stanley. “Nobody’s got his checkbook,” said the source.

Wilson declined to comment on the issue of pay; IL emailed Roccisano but has yet to hear back.

In a previous post, IL reported Wilson’s departure from UBS was less than amicable. Wilson said he left because he didn’t feel a connection with the firm’s management, and that clients weren’t best served in that environment. He emphasized there were no other issues.

Regardless, this is another big win for Morgan Stanley.

Considering the firm has nabbed Wilson, his team, Roccisano, and branch manager Chris Hudson — all from UBS — they look like they’re cruising right now.