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Morgan Stanley’s broad new pipeline for clients
Recent acquisitions have created a "funnel" for new clients, said Jonathan Pruzan, the firm's chief operating officer. The company now has more than 14 million net relationships.
Adviser managing $300 million at Morgan Stanley joins LPL
Francis Ciocari is affiliating with the firm through super OSJ Gladstone Wealth Partners and will be opening an office in Blue Bell, Pennsylvania.
Morgan Stanley snags elite Merrill Lynch team in Utah
While Morgan Stanley had backed away from recruiting advisers from direct competitors in recent years, the company has recently returned to the market for top-flight advisers.
Inside Vestwell’s $70M funding and retirement deal with Morgan Stanley
The latest cash influx adds to more than $42 million in prior funding rounds and seed capital. Vestwell will also be a retirement plan record keeper available through Morgan Stanley’s workplace business.
Morgan Stanley to require vaccinations to enter New York offices
The firm said the goal is to help create a normal office environment, without a need for face masks and physical distancing.
Former Morgan Stanley traders turn crypto startup into unicorn
Amber Group raised $100 million from investors in a Series B fundraising, boosting its valuation to $1 billion. Investors included DCM Ventures and Tiger Global Management.
Merrill Lynch, Morgan Stanley top execs say recruiting changes worked
Driving the recruiting overhaul at wirehouses over the past few years has been the tremendous expense of recruiting experienced financial advisers.
Morgan Stanley brings in ETrade executives
The investment bank is putting the finishing touches onto its $13 billion purchase of ETrade Financial, and has benefitted from ETrade’s direct, online access to a younger group of clients.
Duo managing $1.1 billion at Morgan Stanley moves to J.P. Morgan
Mark Donohue will be based in Palm Beach Gardens, Florida; Gordon Sommer in New York
Rockefeller zeroes in on Merrill Lynch, Morgan Stanley advisers
According to InvestmentNews data, since Rockefeller Capital's launch in early 2018 to the end of March, the clear bulk of its hired advisers have come from CEO Greg Fleming's two former firms.
Morgan Stanley sells ETrade’s custody business in $55 million deal
CEO James Gorman never could muster much enthusiasm for ETrade Advisor Services, which would have been a direct competitor to the bank's 16,000 financial advisers.
Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. 'My target is $10 trillion of money under management,' said CEO James Gorman. 'I've told the team internally, they hate that.'
GameStop lawsuits allege ‘conspiracy’ bigger than Robinhood
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
2020: The year Wall Street lost the wealth management race
COVID-19 slowed down but did not halt the flow of advisers fleeing wirehouse firms for the independent channel
Inside Morgan Stanley’s $7 billion deal for Eaton Vance
The deal adds to the $13 billion acquisition of the discount brokerage E-Trade as the wirehouse looks to evolve beyond its investment banking roots
Fed approves Morgan Stanley acquisition of ETrade
At the same time, Toronto-Dominion Bank’s acquisition of an ownership stake in the Charles Schwab Corp. was also approved
What will Morgan Stanley’s James Gorman do with ETrade’s custody business?
The brokerage's Advisor Services won’t be an open doorway for Morgan Stanley’s 16,000 advisers to become independent RIAs — at least not yet
Morgan Stanley names new head of wealth management tech
Sal Cucchiara replaces Christopher Randazzo, who moves to Rockefeller Capital.
Morgan Stanley fined more than $10 million for violating customer protection rule
That rule is intended to safeguard clients' cash and securities so they can be promptly returned should the broker-dealer fail.
Morgan Stanley adjust pay grid
With an eye on reducing costs, Morgan Stanley is increasing the revenue thresholds its advisers have to reach…
