Morgan Stanley
UBS Broker Sued By Morgan Stanley Agrees to Customer Solicitation Ban
Michael Crotty, who joined Morgan Stanley’s Smith Barney predecessor in 2007 and moved to rival UBS earlier this month, agreed to Morgan Stanley’s bid to block him from reaching out to customers governed by teaming agreements.
Texas Broker Suspended As Finra Sharpens Focus on Outside Activities
The industry’s self regulator issued a three-month suspension and $5,000 fine against a former Morgan Stanley broker who allegedly did not receive approval for a fund-raising endeavour.
Ex-Morgan Stanley Broker Fired Over Account Coding Issue Joined at LPL by Former Colleagues
The three-broker Los Angeles-based team, which had managed $700 million in client assets, has reassembled at LPL Financial’s fledgling channel for wirehouse breakaways.
Morgan Stanley Broker Wins Expungement of Claim Filed by ‘Demanding’ HNW Client
The complaining client had $20 million in investable assets and had been given “no less than nine different investment proposals,” an arbitrator wrote in the award letter.
Retained Advisors Account for Bulk of Morgan Stanley’s Net New Asset Growth, Execs Say
Advisor-led client assets increased 6% from the prior quarter and 38% from the year-ago quarter to $3.5 trillion, according to the bank.
Hybrid Happening: Merrill FAs’ Clients Up Their Use of BofA’s Self-Directed Platform, Exec Says
Also BofA reported on Wednesday that FA headcount fell 2.1% from the prior quarter and 5.9% year over year to 19,385.
Morgan Stanley Looks to Restrain $2.75-Mln Producer in CO and NJ Who Left for UBS
Mike Crotty, who had joined Morgan Stanley’s Smith Barney predecessor in 2007, moved to rival UBS last week, but not before giving some clients a heads-up he was leaving, the wirehouse claims in a suit.
Return-To-Office and Vaccine Mandates Stir Dissension, Debates, and Job Hunting Among Advisors
“I like this—working from home in shorts and a t-shirt,” a veteran Merrill broker said.
Morgan Stanley, Sanctuary Lasso Merrill Lifers in Texas
Father-daughter duo moving to Morgan Stanley in Dallas had been overseeing around $200 million, while Sanctuary team managed $1.2 billion in assets.
Wells Fargo’s Next Play: The Self-Directed Channel
Wells Fargo bank executives are looking to buy a self-directed retail brokerage or rebrand its own WellsTrade offering as part of a bid to capture next-generation investors.
Morgan Stanley Nabs $4.5-Mln Merrill Lifer with Stock Plan Focus
The Washington D.C.-based broker had been with Merrill for all of his 27-year career and had co-led a 12-person team said to manage around $950 million.
