Morgan Stanley Chief Executive James Gorman joined other finance industry leaders in warning that operations won’t be fully back to normal this year.
“We are working on a series of programs to provide a safe environment for our employees to come back,” Gorman said at the firm’s virtual shareholder meeting. “Under no circumstance will the employees be forced to come back in 2020 to their desk when they have any concern or fear over their health and safety.”
He said that he expects closer to 50% of employees back in offices by the end of the year. That figure has varied significantly across the firm’s global locations.
While Morgan Stanley still has more than 90% of employees working from home, almost half the workers in Hong Kong are back. It’s a “very, very, very small number” in New York City, Gorman said.
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
