The Great Divide

Published Monday, March 01, 2004

There aren't a lot of $50 million clients out there, so when one comes around, there's going to be competition to win his business. One such situation arose a couple years ago, after Morgan Stanley and Dean Witter merged but while the two were still distinct entities. A Dean Witter broker in a large branch had managed to get his hands on this lucrative client — but thought that a private wealth advisor (from Morgan Stanley) was encroaching, according to a producer in that branch. That private wealth advisor had been introduced to the client by a mutual ...

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