At this point we shouldn’t have to continue to bring it up, but we will anyway: be certain you have your own personal, securities legal counsel at all times as an advisor. No matter your standing, loyalty to the firm,

Morgan Stanley can’t seem to stay out of their own way. Recently it was revealed that the global investment bank (yes, global) filed suit against an 800k broker in Allentown, PA. Yes, you read that correctly. 800k. Allentown, PA. Morgan

This is more than a theme or a drumbeat at this point. It’s a certified route. Merrill Lynch advisors have cashed their last retention bonus checks, huddled with transition legal experts, and then sprinted away from the BofA owned entity.

Do they even care? And if not, why don’t they care about the billions in client assets abandoning a once-venerable brand on a monthly basis? These questions deserve to be unpacked given the massive exodus away from Merrill Lynch, and

If you are a Morgan Stanley Advisor you shouldn’t be cheering this announcement. Moving client asset management fees to a monthly pay schedule looks like a small net positive for both advisors and clients, but we are not sure it

Firms continue to dangle multi-million dollar bonuses in front of rival wirehouse teams no matter what it may do to ones balance sheet. As predicted, no matter the legal bluster, wirehouse (and even regional) recruiting continues unabated. Deals for million