“I think there are a large collection of advisers upset and who feel they have been gamed.” Sharron Ash @HamburgerLaw talks with @JohnAidanByrne @nypost.

Morgan Stanley has locked the gates to keep its high-priced wealth management brokers from fleeing.

“I think there are a large collection of advisers upset and who feel they have been gamed,” said Sharron Ash, chief litigation counsel for the Hamburger Law Firm. “They joined Morgan [Stanley] under the protocol and now the rug has been pulled out from underneath them. I do expect there is going to be litigation as a result of the Morgan [Stanley] decision,” said Ash. “I don’t think Morgan Stanley is dropping out of the protocol without the intention of enforcing its restrictive covenants.” Ash further stated, “Clients could have their relationships with an adviser of their choice interrupted for a period of time. They may not even be able to find their adviser once they leave a firm.”

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