Gorman Proclaims It’s Over

Over? Did you say ‘over’? Nothing is over until we decide it is! 

You know those lines from John Belushi’s motivational speech in the movie Animal House and to be honest, it was the first thing we thought of when we read this story in AdvisorHub.

James Gorman, the chief executive of Morgan Stanley, recently suggested at a company meeting that recruiting veteran brokers to the wirehouse is essentially a waste of time. Morgan is better off growing assets internally, rather than acquiring them, he said.  

Thus, the wirehouse is effectively taking its well-used ball, i.e. veteran broker recruiting, and going home.

So is the recruiting game over?

“Maybe for Morgan,” said Chris Stacey, the COO of 3xEquity, the industry leader in facilitating career transitions within the wealth management space. “But hearing this, other wirehouses are likely to intensify their efforts. They may see Morgan’s withdrawal as an opportunity to recruit veteran brokers. 

Advisors who are interested in other opportunities should test the waters. They can use the proprietary tools on the 3xEquity web site, which allows them to secure multiple offers, all while remaining 100% anonymous.

				
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It’s one of the most important—and personal—questions a financial advisor can ask. Whether it’s frustrations with admin fees, limited platform flexibility, or just a gut feeling that you’ve outgrown your current firm, the decision to move shouldn’t be rushed. The right time to leave isn’t just about market timing—it’s about life timing.

If you’re weighing your options, we recommend this quick read: The Best Time for a Move—a blog and podcast episode that walks through key signals it may be time to explore a transition.

There’s no one-size-fits-all answer. Going independent offers more control, higher payouts, and brand autonomy—but with added responsibilities. Wirehouses provide built-in infrastructure, brand recognition, and turnkey support—but often come with more restrictions and fees.

The real question is: Which model makes the most sense for your business goals and lifestyle?

To make a confident decision, you need to understand the economics behind both paths. Start by securing transition offers from top firms—independent and wirehouse—so you can compare side-by-side.

Get Your Offers in Hand

Our services are 100% free to financial advisors. We don’t charge you a dime. If you decide to make a move, the new firm pays us a finder’s fee—similar to a recruiter. But unlike recruiters, we’re not tied to any one firm, so we work to find your best fit, not theirs.

Want the full breakdown? Check out our blog post: How We Get Paid

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