Thoughts on joining at team at Morgan Stanley vs RIA route? I have an option for a team who is all retiring and looking for succession opportunities ($3mm annual revenue book). Another option is going an RIA route with a bank affiliation.

Currently I’m working for a bank trust dept as a wealth advisor (very few of my accounts are trusts). I’m a CFP and my book is $2mm in annual rev. I’m ready for a change but looking for some feedback, particularly if anyone is familiar with Morgan Stanley.

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Good for you . That sounds like a good situation . I think your clients would probably benefit more from the MS platform given their broad product and service mix , name recognition , etc . I guess I would review what would be best for your clients . I wish k had your problems jajaja. @ 1mm production . Weighing options here /

likefunny

You as well. This is exciting and scary trying to figure out a new home . Best of luck ! You sound like you have a good business . Shop around .

likefunny

What do you think the portability of your current book is? What does your contract look like? Those are big factors in your decision.

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2mm in revenue… at keeping 50% it’s 1mm in revenue… go independent with a bd that specializes in supporting independents.. own your book… get a 90% payout… own your business instead of working for someone else.. you get to decide how to spend on your business… personalized marketing.. what staff to have … what products to use…build a business that your kids can come into ect…

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They’re willing to sell you their entire book?

I work with Financial Advisor everyday, the name recognition is nice with a firm like Morgan Stanley, but the autonomy on how you could run your practice is much lower stress with an RIA

Just curious how were you made aware of the succession opportunity? Did MS reach out to you for it? Always curious how people find these kinds of succession opportunities at other firms. Any information would be appreciated

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