Causes of tech snafu with MSSB 3D platform remain uncertain

NOV 11, 2011
Technology outages, be they large or small, are nothing new. Today we have the case of the online 3D brokerage platform at Morgan Stanley Smith Barney. Last month Bank of America went through one lasting intermittently for several days, as did Research in Motion, which saw outages with its Blackberry services then and back in 2009, and then there was LPL Financial's three-day outage back in 2007. I have always believed that coming clean early on and often, along with providing a reasonable amount of detail tends to work out a lot better for the companies involved. When large outages can affect thousands (if not millions) of users it simply seems to make common sense. After all every large organization is a sieve these days, no matter what policies corporate might have in effect people make phone calls, use web-based e-mail or social media to vent their frustrations. My colleague Andrew Osterland and I have already heard from several brokers and other sources that are in touch with them on the topic of the MSSB technology issues. Sure I suppose most big financial services companies are maintaining even more of a bunker mentality these days with management cringing at the minute by minute market fluctuations affecting their stocks prices. Brokers at MSSB that want to share how the 3D issues are affecting their workaday life please feel free to contact me. I feel certain there are good lessons to be learned by tracing the epidemiology of and tracking the symptomology of what is ailing 3D. ([email protected]) Related stories: iPhone 4S selling out while RIM kissing up Mystery Inc.: Bank of America online outages a puzzler LPL had a three-day outage back in 2007 No time like the present for advisers to prepare for disaster

Latest News

SEC and state regulators tighten grip on fraud in fiscal 2026
SEC and state regulators tighten grip on fraud in fiscal 2026

Broker-dealer enforcement actions surged 66% as the SEC and state regulators cracked down on Ponzi schemes and digital asset fraud.

Marsh acquires Wilshire to deepen wealth advisor reach
Marsh acquires Wilshire to deepen wealth advisor reach

The deal adds $221 billion in AUM and bolsters Marsh's alternatives and model portfolio capabilities for advisors.

Gen X retirement savings facing ‘collision of financial pressures’ from family obligations
Gen X retirement savings facing ‘collision of financial pressures’ from family obligations

New Jackson research finds multi-generational financial obligations are leaving pre-retirees dangerously off track.

When the sunset deal dims the value
When the sunset deal dims the value

Sanctuary Wealth’s Vince Fertitta examines what wirehouse advisors may leave behind when a career ends in deferred compensation rather than a sale

Osaic CEO Jamie Price sees W-2 channel growing to a third of assets
Osaic CEO Jamie Price sees W-2 channel growing to a third of assets

Osaic's Empowered Independence reached roughly $20 billion in a year and a half as succession pressure pushes advisors toward becoming W-2 employees

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.