Morgan Stanley loses three Michigan reps to Ameriprise

Three veteran advisers — Kenneth Demps, Robert Dennis and Jay MacKenzie — who managed $270 million in assets at the Troy, Mich., offices of Morgan Stanley, have moved to Ameriprise as employees. Mr. Demps spent his entire business career at Morgan Stanley, joining the firm in 1984. (More: See all the latest moves in the InvestmentNews Advisers on the Move database) Mr. Dennis began his career in 1995 at H&R Block Financial Advisors, and moved to Merrill Lynch in 2002. He joined Morgan Stanley in 2004. Mr. MacKenzie began his career in 1974 at First of Michigan Corp., moved to several firms over the years including E.F. Hutton, Lehman Brothers, Dean Witter Reynolds, Prudential Securities and UBS, before joining Morgan Stanley in 2014.