Cultural changes and possibly a decrease in service levels to the adviser are believed to be the causes of the large defections from MSSB, according to a recent article in Investment News.
MSSB offices recently converted to the new “3D” technology. One of the features of this new technology includes a sophisticated price metric system, which analyzes typical fees and commissions charged to clients all over the country. The article suggests that this may be hindering selective, competitive pricing that reps wish to propose or provide to clients.
Meanwhile, MSSB spokesmen recently advised all reps to stay calm and that all is well with the conversions, with the new systems, and with the new culture.
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