Independent broker-dealer FSC Securities Corporation in Atlanta has landed a $300 million breakaway advisory group from Morgan Stanley, Cherrington Brotsky Conscious Capital.
Cherrington Brotsky, based in Bluffton, S.C., works with the retiree market and frequently conducts financial planning seminars. Coming from a wirehouse, we were very impressed with the cutting-edge technology FSC offers its advisors," Libby Cherrington, the firm's managing director, said in a statement. "Im confident that we will grow our practice, expand our services to our existing clients, and attract new clients to our firm."
FSC, a member of the Advisor Group network, has "invested heavily in our platforms over the past several years to get us to where we can not only compete with any independent broker-dealer, but with the wirehouses as well, firm president and chief executive Jerry Murphy said in a statement.
Advisor Group's new CEO, Erica McGinnis, said last month she is looking at acquisitions to drive further growth.
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