Morgan Stanley - Is this Morgan Stanley's "read my lips" moment?

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Oct 21, 2010 12:55 pm

My hunch is we'll see an increase in FAs fleeing MSSB come January 2011 and into Q1 as the first year retention drops off.  All I hear from FAs, especially those from the Legacy SB side, is misery and frustration.

Oct 21, 2010 6:41 pm

The SB brokers i speak to are miserable because they feel that MS modus operandi is to be product pushers. SB brokers come from a Planning culture.

Also their clients are beeing feed to death. If i client has $800,000 with them, they pay a fee of something like $75 if its in an IRA, because they didnt hit the million dollar threshold. With no exceptions.

I know a number of SB FA's from 400k producers to $2MM producers who have one foot out the door, some waiting for their deals to end, others just doing their due dilli

Oct 21, 2010 9:39 pm

Eh. It's human nature.  If your firm merges it USED to be heaven on Earth and now it's a bucket shop.