Recent Morgan Stanley Recruiting Video Directly Criticizes Merrill Lynch

Posted on March 11th, 2022 at 2:27 PM
Recent Morgan Stanley Recruiting Video Directly Criticizes Merrill Lynch

From the Desk of Jim Eccleston at Eccleston Law:

A recently-produced Morgan Stanley recruiting video that managers can use to convince potential recruits to join the firm directly criticizes its rival, Merrill Lynch.


The video, which is nearly five minutes in length, includes testimonials from four former Merrill Lynch advisors who joined Morgan Stanley. The testimonials primarily discuss shortcomings in Merrill Lynch’s culture and product offerings, while touting features of Morgan Stanley. The testimonials do not mention Merrill Lynch or Bank of America by name; however, the video shows Merrill’s name on a computer screen and illustrates an unusually strong message in an industry that typically is reluctant to criticize its competition, according to Melissa Daly, a former public relations staffer at Goldman Sachs.


In one testimonial, a 25-year Merrill Lynch advisor, Louis Meltzer, discussed his transition to Morgan Stanley in 2020. Meltzer touted the higher degree of support he’s noticed since the wealth management division constitutes nearly half of the corporate earnings for Morgan Stanley in comparison to 13% at his “prior firm”. A Morgan Stanley spokeswoman has commented that the video was intended to address common questions that typically arise during the hiring process. Some current Merrill branch managers have viewed the video and were angry about a purported “below the belt” attack, according to Bill Willis, a Los Angeles recruiter who has helped advisors join Merrill Lynch.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 

Tags: eccleston, eccleston law, morgan stanley

Return to Archive

TESTIMONIALS

Previous
Next

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

February 19, 2026
Wall Street Journal Analysis Questions Investor Gains Following DuPont's Decade-Long Breakup

A Wall Street Journal analysis has raised questions about investor returns following DuPont’s multi-year corporate restructuring, which divided the historic conglomerate into multiple independent companies.

February 18, 2026
American Portfolios Ordered to Pay $4.6 Million in Restitution Over Cash Sweep Program Disclosures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios Financial Services to return $4.6 million to customers and pay monetary sanctions after determining that the firm overcharged investors and failed to properly disclose how it generated revenue through a cash sweep program.

February 17, 2026
FINRA Fines Kingswood Capital Partners $150,000 for Supervisory Failures in GWG L Bond Sales

The Financial Industry Regulatory Authority (FINRA) censured and fined San Diego–based broker-dealer Kingswood Capital Partners $150,000 after finding supervisory failures tied to sales of high-risk GWG L bonds.