Morgan Stanley Loses $657M in Assets as Wealth Managers Ramp Up Advisor Recruiting

Key Facts

1Kristin McCarthy, managing $300 million in assets, joined Rockefeller Global Family Office in North Carolina.

2Stifel Financial hired the Primary Wealth Management Group, which managed $357 million at Morgan Stanley.

Amid intensifying competition among top U.S. wealth managers to expand their asset bases, Morgan Stanley has lost two advisor teams to regional competitors. According to reports, advisor Kristin McCarthy, who manages $300 million in assets, joined the Rockefeller Global Family Office in North Carolina. Additionally, Stifel Financial recruited the Primary Wealth Management Group, which previously oversaw $357 million at Morgan Stanley, bringing the total assets shifted in these moves to $657 million.

These departures occur as the industry faces a talent war, with firms like Stifel and Rockefeller seeking to capture market share from major investment banks. Looking at peer performance per market data, Goldman Sachs (GS) is trading at $1035.64 and JPMorgan (JPM) at $320.235, reflecting relative stability in the sector despite ongoing advisor churn. Analysts note that while the loss is minor compared to Morgan Stanley’s multi-trillion dollar wealth unit, it highlights the persistent trend of talent migration across the industry.

Morgan Stanley (MS) shares stood at $212.66 (at close June 11, 2026), as investors monitor the bank's ability to maintain profitability margins within its wealth management division. Economically, traders are watching for future commentary from Federal Reserve officials following the recent speech by Vice Chair Barr to gauge the impact of monetary policy on capital flows. Support for the stock remains near its recent low of $207, while $212.83 serves as an immediate resistance level based on recent price action.