29 Nov Kaye/Bassman Managing Partner Tim White Featured in the Financial Advisor Magazine
FOR IMMEDIATE RELEASE:
Kaye/Bassman Managing Partner Tim White Featured in the Financial Advisor Magazine, Morgan’s Protocol Exit May Not Slow Broker Defections
Plano, TX | 11/29/2017
By Dan Jamieson
Morgan Stanley’s action this month to pull out of the broker recruiting protocol immediately triggered speculation about other firms possibly pulling out and predictions that advisors would suddenly be subject to more litigation if they strayed.
In reality, there may not be much impact. Protocol or no protocol, many outside observers expect brokers to move around just like they always have—and their clients will follow just as they have in the past.
Morgan’s move is “much ado about nothing,” added Tim White, a managing partner at Kaye/Bassman Intl. Corp., a recruitment firm. “I don’t think it makes any difference. If firms want talent, they’re going to find ways to get it, [and] clients can do business with anyone they want.”