Two former employees of Wells Fargo Advisors have crossed over to join Morgan Stanley Smith Barney's financial advisory team, filings from the Financial Industry Regulatory Authority show.

Ben Dembin and Francis Shiavetti step in from Wells Fargo's Boca Raton office and record a combined $1.2 billion in annual fees and commissions and manage $107 million in client assets. Dembin previously worked at both Wells Fargo and predecessor firm Wachovia Securities for almost five years, while Schiavetti had served both for almost four years.

Morgan Stanley Smith Barney, a joint venture between Morgan Stanley and Citigroup, has 18,087 financial advisors as of the second quarter of 2010.