investment advice needed- top firms?

rfuerst911sc · 03-23-2008, 04:48 AM

A few years ago my mom passed away

and I inherited a good size chunk of money. The money was invested with Morgan Stanley and I continued with them and still with them. But one of the main partners in the office I am useing has left and gone to Moors & Cabot, a firm that was established in 1890 in Boston. So if you guys had a choice would you stay with Morgan Stanley or transfer over to Moors? Supposedly all transfer fees associated with the transfer will be picked up by Moors per an email I received. I will say I'm not a hands on investor. I do look at the statements but I just let it ride assuming they know what they are doing. So far it's been O.K. but I know there are some smart folks on this board.................so what do you think?

Mo_Gearhead · 03-23-2008, 05:51 AM

Usually (at least my experience) an account is handled/assigned to one broker in a firm.

If the 'partner' that is leaving is the individual that was overseeing your investments and you have been pleased with his/her decisions, I would let my money follow him/her to the new office.

I would not be concerned as much by the name on the building as I would be about how close you can work with your personal broker and how that person has performed for you in the past.

I place one-on-one relationships ahead of 'nameplates'.

on2wheels52 · on2wheels52's Garage

Agreed. When the agent I used at AG Edwards retired I couldn't get comfortable with the one assigned to me. My wife had issues with the other (small town). I transferred it all to a Piper Jaffre (now UBS) office two states away that had my father's account. A much friendlier atmosphere.
Jim