Morgan hires longtime Merrill broker

Thomas Forma previously managed more than $300 million along with his partner Kevin Nichols.
OCT 20, 2014
Morgan Stanley Wealth Management picked up a 32-year veteran of Bank of America Merrill Lynch as part of a round of October hiring. Thomas Forma had been with Merrill Lynch his entire career, having started in 1982, according to registration records. He and his partner, Kevin Nichols, managed more than $300 million before moving to Morgan Stanley in West Hartford, Conn., according to Morgan Stanley spokeswoman Christine Jockle. Mr. Nichols had been with Merrill Lynch since 2011, according to Financial Industry Regulatory Authority Inc. records. The two joined Morgan Stanley on Friday. (See all of Morgan Stanley's latest hires from the Advisers on the Move database.) Separately, Morgan Stanley also added two advisers from J.P. Morgan Securities last Tuesday. The firm picked up Michael Zalkind and John Williams who previously managed $175 million and brought in $2.1 million in annual revenue. They join an office in Aventura, Fla., and report to complex manager Bill Van Scoyoc. The firm has added 10 veteran financial advisers to its Aventura complex this year, according to Ms. Jockle. Another adviser, Robert Phelps, joined Morgan Stanley from UBS Wealth Management Americas in Louisville, Ky. He previously managed $90 million and produced $1 million in annual revenue, according to Ms. Jockle. Morgan Stanley reported last week that the average adviser brought in around $932,000 in annual revenue. The firm had 16,162 advisers at the end of the third quarter.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.