Displaying items by tag: Morgan Stanley

Friday, 02 December 2022 16:59

Merrill Lands $430M Advisor from Morgan Stanley

Merrill Lynch has landed a San Franciso-based financial advisor from Morgan Stanley. Nandi Gunning, who managed $430 million at Morgan, joined Merrill Lynch’s private wealth management business, which caters to high-net-worth clients. According to the firm, the former CMW Group is now the CWMG Group with the addition of Gunning. The team includes advisors Anthony Canini, John Myers, and Andrew Wages. The CWMG Group also includes five support staff and is based in San Francisco and Columbus, Ohio. It oversees $2.5 billion in total. Gunning got her start at Morgan in 2014. She was drawn toward Merrill’s capabilities in banking, lending, and trust offerings. She also liked the idea of switching from running her own practice to working on a team. As part of a statement, she wrote, “While everyone has unique gifts, the power of teams is bringing together individual skills and talents, diverse perspectives, and vast experience to serve a common purpose. Diverse teams have a broader, more comprehensive view, and the more perspectives the better.” Merrill had previously landed a $1 billion team from Citi earlier in the month.


Finsum:Morgan Stanley advisor jumps ship to Merrill, drawn by the firm’s banking, lending, and trust offerings and the chance to work as part of a team.

Published in Wealth Management
Monday, 25 April 2022 07:49

Morgan Stanley loses Mega Producer Advisor

Cherly Young, a financial advisor and team based in Los Gatos, CA is planning on leaving Morgan Stanley and joining First Republic. She’ll be taking her $17 million in annual revenue and a giant $2 billion book with her. Her all-star status and revenue generation has put her in the upper echelon of California Advisors and ranked her #84 on Barron’s nationwide list. First Republic has put in a lot of effort on building a high-end advisor base, and they have offered a variety of incentives to get there. Still their sales force is a fraction of Morgan Stanley’s which boasts 16,000 brokers, and is still touting positive recruiting results. 


Finsum: Many financial firms are forcing full time in-office work, and First Republic sees remote pitch as a part of their campaign, while MS is caping remote work at 90-days. 

Published in Markets*1
Friday, 18 March 2022 19:28

Morgan Stanley Launches Tax Model Portfolios

Model portfolios have been a surprisingly quick growing tool for the financial industry in the last year, and Morgan sStanley’s Wealth Management is capitalizing by adding a series of new model portfolios. These strategies will have hefty minimums of $750k to $1.5 million and are targeting tax and direct indexing strategies from the recently acquired Parametric. This was a key reason Morgan Stanley acquired Parametric last year to rapidly develop and deploy direct indexing strategies. Overall the portfolios have acquired $150 million in assets since their inception in January.


Finsum: Financial companies took a page out of tech companies playbook by just acquiring the companies that might align with them and allow the to quickly scale when it came to direct indexing.

Published in Wealth Management
Wednesday, 02 February 2022 19:13

Goldman and Morgan Get Very Bearish

David Kostin, a strategist at Goldman Sachs Group Inc., took a bearish tilt on U.S. stocks worrying about risks that may be on the road ahead. Goldman is far from the only bear on Wallstreet, Michael Wilson of Morgan Stanley says that the fair value of the S&P 500 is closer to 4,000. This would be a 10% downturn in the S&P if fully realized. Goldman isn’t that pessimistic but if real U.S. treasury yields rise 60 basis points then that will be their baseline. The median forecast is still quite positive for the S&P 500 by the end of the year with a target price close to around 5,100. However, Wallstreet says the antidote is to focus on quality and energy stocks.


FINSUM: Wall street is forgetting how bad sustained realized inflation will be for the market; it's without a doubt the biggest risk, because companies are used to operating with systematic sub 2% inflation.

Published in Eq: Total Market
Friday, 19 November 2021 19:45

Morgan Stanley Says Big Drop in S&P 500 Coming

In their latest strategy release Morgan Stanley is pulling no punches about its projections for 2022, warning investors to unload and underweight U.S. Stocks, Bonds and Treasuries. They see tightening monetary policy, high inflation, and higher valuations all scaring them from a more bullish U.S. stance. They see the S&P dropping to almost 6% below its current levels. In order to find the gains they need they suggest investors look to Euro-area and Japanese companies, where they are bullish on equity prices. They also see commodities providing some portfolio relief. However, Morgan Stanley’s economists aren’t predicting a rate rise until 2023, and they see the Fed being more dovish than the broader market expects.


FINSUM: Conflicting messages inside Morgan Stanley. If Monetary Policy doesn’t over tighten then don’t expect a sluggish year in the U.S.

Published in Eq: Total Market
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