Morgan Stanley and Smith Barney brokers appeared hopeful last month when James Gorman, co-president of Morgan Stanley and chairman of the new joint venture, confirmed that there would be retention deals for both sides, with the “packages structured attractively in line with industry practice.”
UBS Wealth Management has joined other major firms including Merrill Lynch, Smith Barney and Morgan Stanley by setting up an Investment Center where financial advisors provide services over the phone for clients who have $1,000 to $250,000 in assets, reports Evelyn Juan, reporter for Dow Jones Newswires, on June 19, 2008.