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.” The intent, of course, being to dissuade top brokers from [...]
Caution for Financial Advisor Breakaways
January 21, 2009 By 1 Comment

There’s so much talk out there about financial advisors breaking away, leaving the big wire houses, and going independent. But in actuality, according to the Cerulli Quantitative Update Advisor Metrics 2008, those that talk (about 65%) and those that walk (only about 27%) point to the probability that we will see a huge increase [...]
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