Morgan Stanley Wealth Management has expanded its advisor force in California and Florida with hires from Deutsche Bank and Merrill Lynch.  

In Boca Raton, FL, Eric Behr joins from Deutsche Bank, where he served as a director and advisor. He had annual revenue production of roughly $1.2 million and now reports to Morgan Stanley complex manager Michael Higgins.

Thomas McCann joins Morgan Stanley in La Jolla, CA, from Merrill Lynch. There, he managed over $200 million in client assets and last year generated about $1.1 million in revenue. At Morgan Stanley, McCann reports to complex manager Mark Kremers.

Additionally, David Rascoe - latterly of Wells Fargo Advisors - joins in San Diego, CA. At Wells he managed $80 million in client assets and last year generated $905,000 in revenue.

Meanwhile, Reuters has reported that Bank of America Merrill Lynch has recruited an advisor team in Texas from Morgan Stanley Wealth Management.

Craig Massey and Mike Schmidt are based in Houston and previously managed $1.1 billion in client assets and had annual revenue production of $3.5 million.

Massey and Schmidt were part of Morgan Stanley’s private wealth group, which caters to clients with at least $20 million in investable assets. The advisors serve both ultra high net worth individuals and institutional clients.

Bank of America had not confirmed the hires in time for publication.

The moves highlight how many of the larger wealth management players - like Morgan Stanley, Merrill Lynch, UBS and Wells Fargo - often compete in wooing the same pool of advisors.