Morgan Stanley Wealth Management

The regional firm ups its recruiting momentum with two wirehouse advisers.

The new recruits come from Stifel and IBD ValMark.

Key questions to ask when firms choose to rely on the best interest contract exemption. Some policies may drive advisers away.

With the fiduciary rule coming, advisers who have a great offer on the table better act fast, says one headhunter.

The decision is effective immediately and was made within hours of the Department of Labor issuing new regulatory guidance on the fiduciary rule's implications.

Morgan Stanley and RBC lose two recruits to the regional firm.

"We fully expect to offer a range of options to help our clients," CEO Paul Reilly said.

Unlike its rival, Morgan will keep commission-based retirement accounts under the new regulation's best interest contract exemption.

Wirehouse system and supervisory failures are just the start.

The new recruits come from Morgan Stanley and Wells Fargo Advisors.