Morgan Stanley has lost two advisor teams that managed more than $400 million in assets.

Advisors Joe Wong and Rodger Friedman left the wirehouse earlier this month for Steward Partners Global Advisory in Washington. A second team, the Lev Sher Group, was lured away by Wells Fargo Advisors.

Wong, 33, and Friedman, 57, managed more than $170 in assets and generated about $1.5 million in annual revenue for Morgan.

“We wanted to have more an impact on the firm we were with,” said Friedman. “When you’re in an audience in of more than 16,000 advisors, or 50,000 employees, the people who make the biggest difference are in the C suite. I like the idea of having more of a voice and an impact on the direction of the firm.”

via Morgan Stanley Loses Two Advisors Teams With More than $400 Million AUM | On Wall Street.