Get ready for the next phase of the broker war.
Morgan Stanley expects to lure away 150 brokers from rival firms in the third quarter. To get them to hop over, MS is offering sweetened recruiting deals, like an extra 20% of comp in cash if newbies tote half of their client assets before the end of this month (they'd better hurry).
If MS is able to recruit 150 brokers by the end of the quarter, it would be the best recruiting quarter in a year.
Sweetened recruiting deals and retention plans are helping advisers stay put at the company after 2008's exodus, according to Reuters.