Morgan Stanley

In an opinion sought by Morgan Stanley, the Department of Labor finds the firm's deferred compensation "appears to be a bonus program" used to reward loyalty and good behavior and not a retirement benefit.

Joe Toledano, head of insured solutions for Morgan Stanley's wealth division and E-Trade, tells how insurance has gone from almost an afterthought for many financial planners to something that's central to what they do.

The up-and-coming IBD Arkadios recruits an entire Morgan Stanley team and a significant share of Merrill's headcount in Dothan, Alabama.

The tide is in the wirehouse's direction in its fights with advisors who've left for rival firms.

Recruiters say firms routinely cover advisors' lost deferred compensation in offer packages. Those deals are complicating efforts by advisors who contend they're still owed backpay.

The win for Morgan Stanley comes after a recent string of victories against brokers who left for rival firms. But as the outcome in the JPMorgan case shows, firms don't always prevail.

The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.

Morgan Stanley had gone to the Second Circuit Court of Appeals to fight a lower court's finding that its deferred compensation policies fall under federal retirement law.

Roughly 200 advisors at the firm are being named "founder specialists" for their track record helping entrepreneurs do everything from set up employee-benefit plans to take their firms public.

Ted Pick and Paul Shoukry both see advantages in their firms' ability to invest in technology, offer banking services and provide access to alternative investments.