A $450 million class-action lawsuit filed in New York against Morgan Stanley on Friday could have major implications for brokerages’ pay practices in the state. Filed by a former Morgan Stanley broker, the...
As expected, Morgan Stanley board members from the Philip Purcell era continue to decamp, with two more directors out. Charles Knight and John Jacob, both of whom were on the board’s compensation committee...
The changing of the guard at Morgan Stanley continues as leadership loyal to departed CEO Philip Purcell heads for the exits. The company announced Tuesday that director Michael Miles had resigned his post, and...
Discrimination lawsuits against Morgan Stanley could start rolling in from brokers laid off in August, say labor lawyers. The firm got rid of 1,000 low producers according to a strict performance-based system, but...
Big full-service brokerage houses like Merrill Lynch, Morgan Stanley, UBS and Smith Barney have long tried to have it both ways: hiring brokers as employees in an effort to own the client relationships, while treating...
Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit. Gorman made sweeping cutbacks and changes as head of retail at Merrill Lynch, and observers expect more of the...
VANGUARD HAS LONG BEEN A RIVAL to advisors and brokers with its no-load, low-cost, direct-to-investors business strategy. Three decades ago, the firm's straight-talking founder, John Bogle reckoned not only that...
Despite the recent onslaught of negative regulatory and media attention to variable annuities, sales of these products have not suffered. In fact, they have continued to grow over the past three years, even as sales...
Now that James Gorman has been selected as the future head of Morgan Stanley’s retail brokerage, what will he do to turn it around, and can he pull it off?
