Best deal in town? Morgan Stanley offers $160,000 bonuses for financial advisers

Reuters scooped news on June 4 that Morgan Stanley Smith Barney is offering more than $160,000 in upfront cash bonuses to court lower-producing financial advisers. The story points to the new reality in the industry - that a lot of best talent has already been snapped up and locked down with retention plans. Morgan Stanley adviser ranks have contracted sharply in the last year, and now it needs to rebuild. Advisers producing as little as $215,000 in annual fees and commissions can get more than $160,000 in an upfront cash bonus to join Morgan Stanley, according to an internal document obtained by Reuters that details recruiting compensation plans. The adviser can earn an additional $312,000 over five years if he meets certain targets. Recruiters say these are attractive offers by a top-tier firm for advisers who are typically not courted.