UBS Wealth Management Americas has hired three financial advisors - latterly of Morgan Stanley - in Phoenix, AZ, and Indianapolis, IN, with $467 million in combined assets under management.

In Phoenix, Scott Merrill has a T-12 production of $1.2 million and $113 million in AuM, while Steven Schultz has a T-12 production of $2.6 million and $320 million in AuM.

Meanwhile, Stockton Schultz - Steven Schultz’s son - joins UBS in Indianapolis. He has a T-12 production of $340,000 and $34 million in AuM.

In a similar move last month, UBS Wealth Management Americas scooped up two former Morgan Stanley Wealth Management advisor teams in Aventura, FL, which previously managed a combined $2.37 billion in assets.

One of the advisory teams, Allan Yarkin and Hank Boyce, together manage $1.75 billion in client assets and had joined Morgan Stanley in 2009, having worked at Citigroup for 16 years and 18 years respectively. The other team, made up of Seth Ripple and Leonard Suskind, had also worked at Morgan Stanley since 2009. They previously oversaw about $619 million in client assets (view here).