Morgan Stanley Offers High Bonuses to Attract Top Private Client Advisors

Morgan Stanley in the US is offering top financial advisors a bonus of up to 200 per cent of their gross revenue over the last year if they join from competitors, according to a Dow Jones Newswires report. Citing people familiar with the package, the report said Morgan Stanley has offered a combination of upfront cash and additional components over several years based on the potential recruit’s performance.

The report added that the move is indicative of the intense competition to attract high-producing private client advisors with large levels of assets. It said UBS is offering similar bonuses and other brokerages may be compelled to make similar offers. Read the full article published by WealthCareers.