Reuters first with news of extension of Morgan Stanley’s recruiting deal

Reuters was first to report on Oct 14 that Morgan Stanley Smith Barney had extended a recruiting bonus for new advisers that was set to expire on Sept 30. The wealth management unit is trying to stem an outflow of client assets by recruiting advisers and giving them a 20 percent bonus if they can transfer their assets to the firm quickly. Asset flows and adviser headcount are two of the most closely watched metrics in determining the success of a wealth business. Dow Jones matched the story and credited Reuters for reporting it first.