Jessica Mathews

The proposal would lay out formal steps for setting up less-complicated funds.

Six of the top 10 advisor recruits — managing roughly $13.2 billion in client assets — have walked out of the wirehouse so far this year.

These mega brokers managed $18 billion in assets at their previous firms.

Jim Senderling and John Robbie had been with Merrill Lynch for 27 and 25 years, respectively.

The new competition asks innovators to take client experience to the next level.

Total broker head count dropped by 173 from the prior quarter, according to the wirehouse.

Morgan Stanley’s advisors are already helping clients deal with emotional issues. What if AI could help out?

The firm has recruited 71 advisors so this year and opened branches in four states, according to a spokeswoman.

The firm plans to double in size in the next three years.

Since early May, the wirehouse has lost at least 27 advisors managing a combined $15 billion.