Rockefeller Hires $5-Mln Morgan Stanley Team in Dallas
Rockefeller Capital Management on Friday lassoed a mother-son team of Morgan Stanley brokers in Dallas who oversaw $500 million in client assets.
Marie and Shawn Moore, who sources said generated $5 million in revenue in the prior 12 months at the wirehouse, joined Rockefeller’s private wealth arm with three client associates, one of whom Rockefeller recruited from Merrill Lynch.
Their arrival follows Rockefeller’s recruitment last week of three teams managing a total of $1.8 billion, including a $300 million-asset team who joined in Houston from UBS. (Rockefeller also hired a $900 million team from Merrill Lynch in northern California and a $600 million team from UBS in Scottsdale, Arizona.)
Rockefeller Capital Management CEO Greg Fleming, who formerly ran Morgan Stanley’s wealth management unit, has been extending deals to private wealth brokers that can reach up to 175% of their trailing-12 month production, according to recruiters and managers at competing firms who spoke on condition of anonymity.
“With this addition we continue our focus on recruiting and retaining the premiere financial advisors in the industry,” said Chris Randazzo, president of Rockefeller’s private wealth group, in a prepared statement.
Rockefeller has added 39 teams and 84 brokers since Fleming arrived at the New York firm in early 2018 to manage its expansion from a small multi-family office to a national wealth franchise—with the help of a recapitalization from hedge fund Viking Capital. Twenty-four teams joined this year, Rockefeller said on Friday.
Many have come from wirehouses, as have most of the managers and executives Fleming recruited. The Moores were hired by Rockefeller Central Division head Michael Armondo, a former Merrill Lynch complex director in Dallas who joined Rockefeller last year.
The Moores, who also operated from a Morgan Stanley office in Colorado where Shawn was based, did not immediately return a request for comment on the motivation for their move.
Moore had spent her entire 32-year brokerage career with Morgan Stanley and predecessor firms Smith Barney and Lehman Brothers, according to her BrokerCheck history. Before becoming a broker, she worked for almost a decade at Texas Instruments as an accounting and M&A manager, according to her Rockefeller web biography, and ranked as a Morgan Stanley Chairman’s Club member from 2010 to 2020.
Her son first registered as a broker in November 2005, joining his mother’s team at Smith Barney after working as an information technology consultant, according to his web biography.