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Beacon Pointe Lures Osaic Exec for CFO Role


Beacon Pointe Lures Osaic Exec for CFO Role

Advisors Jeffrey Gembis, Henry Gembis and Joseph Carter have joined Morgan Stanley in Bloomfield, Michigan, according to their registration records and an announcement by Bloomfield branch manager Mark Feiler.

The team, which will operate as the Gembis, Cheslin, Carter Group at Morgan Stanley, oversaw about $1.3 billion in client assets at Merrill, according to a source familiar with their practice. They serve retirees, pre-retirees, business owners, ultra-high-net-worth families and corporate executives, per their Morgan Stanley webpage.

The Gembis, Cheslin, Carter Group also includes Wealth Management Associate Michelle Bisio, Wealth Management Associate Christina Gaitley and Group Director Leslie Robison, each of whom also joined from Merrill. The team's registration at Morgan Stanley became effective Nov. 14, according to BrokerCheck.

At Merrill, the team also included advisor Adam Cheslin, who retired last year after a 28-year career -- all at Merrill.

The remaining advisors possess a combined 63 years of experience, nearly all at Merrill.

Jeffrey Gembis and Henry Gembis, a father-son duo, have 40 and seven years of experience, respectively, and had spent their entire careers at Merrill, according to BrokerCheck. Carter, a 16-year veteran of the industry, had been at Merrill since 2009 after beginning his career with a stint of about seven months at Wells Fargo, per BrokerCheck.

Morgan Stanley and Merrill have been dipping into each other's ranks for high-asset teams in recent weeks. Last month, Morgan Stanley snatched a Merrill team overseeing $1.5 billion in assets.

Meanwhile, Merrill since September has added at least four Morgan Stanley teams overseeing a combined $4.01 billion in assets, including a Chicago-based team with $2.2 billion in assets.

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