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Morgan Stanley has again prevailed in a dispute over deferred compensation that former advisors say they’re still owed after leaving for rivals firms.
Bạn đang xem: Morgan Stanley wins deferred comp dispute
Seven brokers now at Wells Fargo, Ameriprise and other competitors initially brought a claim for an unspecified amount that they said they earned
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A Financial Industry Regulatory Authority arbitration panel dismissed all their claims and assigned Overton and Rosenberg $6,900 in session fees. Morgan Stanley was ordered to pay $7,475 in session fees, and the seven original claimants were together assigned $575 in fees.
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A spokesperson for Morgan Stanley said, “We are gratified that after fully evaluating all the evidence, the panel reached the correct conclusion based on the facts and the law: Morgan Stanley awards deferred compensation to financial advisors during their employment to reward them for retention and good guardianship. That is not a pension plan.”
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The claimants’ lawyer,
Legal mixed messages on deferred comp?
Morgan Stanley has had mixed luck going before FINRA arbitration panels to defend its policies on deferred compensation. It scored a
Morgan Stanley has expressed worries in legal briefings that its battles over deferred compensation are being hampered by a
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