The battle between Morgan Stanley Smith Barney and Merrill Lynch is heating up as both firms sweeten their recruitment packages, recruiters say.
MSSB has reportedly increased its total recruiting package to 330% of an advisor’s annual production and is now offering a new retirement plan where advisers are allowed to leave in three years or less. Meanwhile, Bank of America’s Merrill Lynch unit has pushed up it package to 150% from 120%. Recruiters add that Merrill Lynch will allow brokers in the top 20 % to “take home 300% of their fees and commissions.”
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access