Morgan Stanley/Smith Barney reeled in some very impressive FA’s in the month of May.  For the last month leading into the JV RJ & Makay placed 20 FAs wanting to be apart of this new powerhouse.

Some of the notable groups recruited include the team of Mark Loftus from Wachovia in Oakbrook, IL which does around 4MM in production as well as the Kelly Kelp Group from UBS in Cincinnati that does over 4MM.  RJ & Makay recruited many more million-dollar producers in May as well.

There have been strong reasons cited to RJ & Makay by big producers for moving to the new MSSB. The FA centric culture that will be found in a pure brokerage firm as opposed to a banking culture is mentioned perhaps most frequently along with the power of the newly combined platform.

The world-class research they will have access to is another reason cited. Then of course there is always the transition package.

RJ & Makay has never had such a plump pipeline of big producers interested in moving. This is a time that seems to bode well with FA recruiting firms and especially for wealth management firms like MSSB.

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