Top Firm Said To Face Exodus As Staff Claim They Can't Do Their Jobs Properly

Revolving Door

You couldn't make it up.

Reuters reported last month that, according to its sources, Morgan Stanley Smith Barney's new brokerage technology platform has been beset by glitches that have frustrated the firm's financial advisers and made a long and costly merger more expensive.

The news agency reported that the three-year integration of the businesses has largely been completed, but the finished system is disappointing to many brokers.

Reuters has now reported that its sources say that several dozen Morgan Stanley Smith Barney advisers who manage tens of billions of dollars of client money are considering leaving the firm, saying that widespread technology problems have made it very difficult for them to do their jobs.

The group is even said to have hired a lawyer to argue that they should be able to keep lucrative retention payments even if they quit.

Hit the link below to access the complete Reuters article:

Morgan Stanley Smith Barney rainmakers consider exit

Stifel hires Morgan Stanley Smith Barney advisers

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image: © Dan4th Nicholas

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