A four-person team, managing $1.1 billion at Morgan Stanley has left the firm to join registered investment advisory firm United Capital Financial Advisors. 

Beverly Hills, CA-based The Paul Group, provides investment management services, retirement planning, estate and tax planning and philanthropy to ultra-high-net-worth clients and has practices in the Los Angeles and New York markets. 

The Paul Group is led by CEO and managing director Geoffrey Paul and senior wealth advisor Daniel Gabler. The team also includes senior portfolio manager Jimmy Rehfeld and wealth advisor Michael Ufkes, according to the firm’s page on Morgan Stanley’s website. 

“This partnership with United Capital is the natural next step in our mission to provide extraordinary care for our clients,” Paul said. “We’re excited to combine our deep client relationships and personalized approach with the entrepreneurial spirit of United Capital and the breadth of resources provided by the partnership.” 

The transaction between the two firms closed on August 22. Financial terms of the deal were not disclosed. Echelon Partners served as The Paul Group’s financial advisor for the transaction. 

The deal marks United Capital’s first acquisition since its sale to Goldman Sachs in 2019 and spinout in 2023 to Creative Planning. 

Irving, TX-based United Capital Financial Advisors manages $17.2 billion across 41,738 accounts, according to its latest Form ADV updated on June 10. 

Pictured: Jimmy Rehfeld, Michael Ufkes, Daniel Gabler, Geoffrey Paul (Left) and United Capital’s president, Jim Rivers (Right)