Former Morgan Stanley Texas Manager Signs with RIA
Just over a year after exiting Morgan Stanley Wealth Management during a reorganization, veteran regional manager Ronald Thacker has found a new home touting the virtues of independence at a large Texas advisory firm.
Thacker, 57, joined as president at Americana with a focus on recruiting, according to a release from Dynasty Financial Partners, a service provider that also provides financial backing for the RIA.
“I see great opportunity for any advisors who want to be entrepreneurs more than employees,” Thacker said in a prepared statement.
Thacker could not immediately be reached for additional comment. He will be based in Austin and report to Jason Fertitta, who leads Americana’s 26-person team from Houston, according to Dynasty’s announcement.
Thacker, who previously oversaw around 2,000 brokers in Morgan Stanley’s Dallas-based Central region, had been Feritta’s boss and a mentor at Morgan Stanley, according to a Dynasty spokeswoman.
“[W]e are looking forward to having Ron work on expanding Americana Partners in Texas and beyond,” Fertitta said in a prepared statement.
Fertitta and his team broke away from Morgan Stanley in April 2019 and currently oversee around $3.5 billion in assets. At Morgan Stanley, the team had been managing $6 billion and generating $10.8 million a year in revenue. Most of the deficit was due to a single corporate stock plan client with $2 billion in assets that moved to another firm, according to a person familiar with their practice.
Thacker began his brokerage career at Merrill Lynch in 1986, jumped to Lehman Brothers Inc. in 1989 and joined Morgan Stanley Dean Witter in Dallas in 1990, according to his BrokerCheck. He had been a regional manager in Texas since 2001, according to his LinkedIn profile.
Although he lost his role in January 2020, his brokerage registration with Morgan Stanley officially lapsed in January this year, according to BrokerCheck.
Fertitta, who began his brokerage career at Lehman Brothers in 2001, had worked in Morgan Stanley’s Private Wealth Division from 2008 to 2019.
St. Petersburg-based Dynasty has more than 160 network advisors across 46 network firms managing more than $40 billion in total assets under management, according to its website.