Morgan Stanley continues to stoke the recruiting fires and has scooped up a Long Island, New York-based Merrill Lynch team that had generated $4 million in annual revenue.

Three members of the Leiman Inserra Paduano Group, which oversaw $1.5 billion in assets at Merrill, joined Morgan Stanley late last month, according to sources familiar with the move. Peter N. Inserra, his son, Matthew, and Robert A. Paduano Jr., who moved on February 24, according to BrokerCheck, are calling their practice The Inserra and Paduano Group at Morgan Stanley.

The team had been ranked 32nd best-in-state wealth management teams by “Forbes” in 2021.

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