RJ & Makay - The New Powerhouse in Wealth Management

The New Powerhouse in Wealth Management

Morgan Stanley and Smith Barney completed their joint venture to become Morgan Stanley Smith Barney (MSSB). This creates the largest wealth management firm with 18,500 financial advisors, 6.8 million client households, 1,000 branch offices worldwide and more than a third of Registered Rep’s Top 100 Wirehouse Advisor List.

James Gorman, from Morgan Stanley, will be co-president and chairman of the joint venture and Charlie Johnston, from Smith Barney, will be president of Morgan Stanley Smith Barney.

Although there have been reports of FAs jumping ship to other firms in advance of this JV both firms report that they have been for the most part smaller producers. RJ & Makay has seen strong interest by top FAs wanting to meet with MSSB.

By Dave Wilson

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