A team of financial advisors has left Morgan Stanley to launch their own RIA, the new company says.

Jericho, N.Y.-based Opal Wealth Advisors, founded by Lee Korn, Jesse Giordano and Joseph Filosa, offers financial planning, investment management, performance coaching and estate, business and tax planning, according to a press release from Opal.

The team previously operated as the 360 Group and managed $650 million at Morgan Stanley, Opal says.

Korn has been in the industry for more than two decades and at Morgan Stanley since 2009, according to his BrokerCheck profile. Giordano started his career in the industry at Merrill Lynch and joined Morgan Stanley in 2009 after a stint at Citigroup, according to his profile. Filosa began his industry career in 2004 and also joined Morgan Stanley in 2009, according to his profile.

"Launching Opal Wealth Advisors allows us to build and grow a business where our clients’ interests come first," Korn says. "Having the freedom and flexibility that comes from being truly independent allows us to offer what we believe to be the best products, providers and solutions to our clients. From custodial services to cutting-edge technology to independent research, Opal Wealth Advisors has access to what we believe is the best of Wall Street."

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Morgan Stanley began the year by shedding several large producers and veteran executives. In addition to the recent departures, the company lost an $800 million team to Stifel, Nicolaus & Company this month. In addition, two Morgan Stanley managers left the firm’s private wealth management unit in recent weeks.