Morgan Stanley Smith Barney has recruited a four-person team of financial advisors managing over $1 billion of client assets from UBS, reports Reuters.

Daniel Livingstone, Kevin Bednar, Lee Osman and Stephanie Hoffman have joined MSSB’s Madison Avenue, New York City offices based on filings with the Financial Industry Regulatory Authority, said the report.

Notably Livingstone, who is a 21-year veteran, was ranked number 73 on Barron's list of New York's top 100 financial advisors this year.

This publication was unable to reach MSSB at the time of going to press.

At UBS, the NYC-based team oversaw $1.1 billion of client assets, according to a source familiar with their business, said the report.

The firm has seen a lot of movement in personnel in the last few months. Most recently UBS Wealth Management Americas hired a duo of financial advisors from MSSB in Houston, FWR reported last week. Blake Pratz and Jo Simmons manage $223 million in client assets.

Meanwhile in November William Van Scoyoc returned to Morgan Stanley Smith Barney as a branch manager two months after he left the firm to head a new office at UBS Wealth Management Americas.