Norris McLaughlin & Marcus, P.A.

Blogs > Transitions in Employment

non-solicitation covenants

Oct 30, 2017

Morgan Stanley Withdrawing from the Protocol for Broker Recruiting

The breaking news that Morgan Stanley will be withdrawing as a signatory to the Protocol for Broker Recruiting may signal the beginning of the end for the Protocol– at least as it relates to the wire house firms. Will other firms follow suit and start to depart? While there have always been outliers (or those firms who have not signed on), this departure will enhance the significance of non-solicitation covenants in the marketplace because those leaving or joining Morgan Stanley will no longer move under the protective dome of the Protocol.… Read More

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