Morgan Stanley Smith Barney has hired a four-person team from UBS managing over $1 billion of client assets.

Daniel Livingstone, Kevin Bednar, Lee Osman and Stephanie Hoffman joined Morgan Stanley Smith Barney's Madison Avenue, New York City office, according to filings with the Financial Industry Regulatory Authority.

Livingstone, a 21-year UBS veteran, was ranked number 73 on Barron's list of New York's top 100 financial advisers this year.

At UBS, the New York City-based team oversaw $1.1 billion of client assets, according to a source familiar with their business.

(Reporting by Helen Kearney)