RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

What the deletion of no-drama Greg Fleming bodes for Morgan Stanley, wirehouses and CEO James Gorman

Moves leading up to the 52-year-old Yalie's departure, made under duress, removed the CEO's chief rival and chief heat shield

Admin:
no description available
All eyes shouldn’t be on Kellehner to see if he succeeds -- they should be on James Gorman [pictured] to see if he survives.

Related Moves

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

Oleg Tishkevich builds instant McKinsey-killer in RIA consulting by offering gigs and equity to six solo stars, but good luck managing egos and economics, says someone who's been there

The restless Invent.us founder names (thus far) Tim Welsh, Suzanne Siracuse, Gavin Spitzner, Mark Hollingsworth and Brian Bleasdell as owners in exchange for being on call to tackle big gigs as a superteam

September 10, 2019 at 10:52 PM


Mentioned in this article:

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

Leitner Sarch Consultants
Recruiter
Top Executive: Danny Sarch




Stephen Winks

Stephen Winks

January 15, 2016 — 5:06 PM

Flemings’s emphasis on ethics was perfectly aligned with the industry’s evolution toward advisory services and fiduciary duty being embraced by FINRA, the SEC and The DOL. We are at an inflection point which requires principled leadership more so than ever. Clearly the trading desk and the conventional brokerage business model must adapt, a move less likely with Kelleher’s promotion over Fleming. At this critical juncture can MS adapt to a new business environment which requires Flemings skill set. Doesn’t Flemings departure expose the brokerage cultural challenge issues (where culture and conflicts of interest counter to the best interest of the investing public impede innovation), exactly when FINRA focuses on (a) leadership, (b) streamlining cost, (c) eliminating conflicts, (d) instilling trust and confidence of the investing public and (e) establishing the broker’s professional standing in advisory services. The industry is in conflict between two entirely different business models, the low cost, high value added advisory services business model based on fiduciary duty in the client’s best interest and the high cost, low value added brokerage business model based on a suitability standard in the b/ds best interest. It is professional standing and the best interest of the investing public vs. sales and the best interest of the b/d. The choice is clear for the investing public.

SCW
Stephen Winks

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo