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Morgan Stanley news
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Morgan Stanley hired a Merrill Lynch team managing $750 million in Washington. The move highlights intense competition for top advisors amid a wave of team switches.
Background
Morgan Stanley has been actively recruiting wealth management teams from rivals like Merrill Lynch and UBS, as part of a broader trend of advisor movement between major firms. The firm recently hired another Merrill team managing $460 million in assets and a team producing $8 million in annual revenue from UBS.
How it unfolded
- Aug 6, 2026A billion-dollar Morgan Stanley team moved to RBC in Virginia.
- Aug 13, 2026UBS recruited a Morgan Stanley team managing $300 million in assets in Ohio.
- Aug 17, 2026Morgan Stanley recruited Craig Foreman and John Rial, a Merrill Lynch team managing $750 million in assets, in Kirkland, Washington.
Who’s saying what
- Analysts
- The hiring spree reflects a competitive market for experienced advisors, with firms offering incentives to attract top talent.
Still unverified
The exact terms of the deal and the reasons for the team's move were not disclosed; neither Foreman nor Rial responded to requests for comment.