A Financial Industry Regulatory Authority arbitration panel has shot down requests for compensatory damages from both Morgan Stanley and one of its former brokers following a dispute tied to an alleged breach of promissory note agreements.The case is the latest example of how deals for sign on packages can sour when a new position at a financial services firm does not work out. Morgan Stanley brought the case against the former broker, Barney Greengrass, in December 2010 following his departure from the firm, and requested as much as $1.14 million in compensatory damages. Greengrass responded with his own claims of fraud, negligent representation, promissory estoppel and breach of contract, according to the FINRA arbitration filing. Greengrass also requested $2.14 million in compensatory damages.

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UBS Wealth Management Americas has picked up four advisors from Morgan Stanley Wealth Management with more than $2.37 billion in assets under management.

The moves include financial advisor team Allan Yarkin and Hank Boyce, who joined UBS in Aventura, Fla., on Feb. 27, according to their public registration records with the Financial Industry Regulatory Authority. Yarkin transitioned to Morgan Stanley in 2009, according to his FINRA records, after serving at Citigroup for 16 years. Boyce also came to Morgan Stanley in 2009 following 18 years at Citigroup. Together, they managed about $1.75 billion in client assets, according to Reuters, which first reported the moves.

More : UBS Snaps Up 2 Morgan Stanley Teams In Florida | On Wall Street.

What Is Your Advisory Practice Really Worth?

The perils of the valuation gap.

Feb. 25, 2013John Furey and Matt Cooper

Recently an advisor was interested in selling his practice that he had built over the past several years. He was 69 years of age and wanted to be completely done working in the business within a year of closing the deal with his “ideal” buyer. The practice was a 100 percent fee-only business on about $125 million in assets, an attractive attribute. The practice was generating approximately $1 million in gross revenues and the advisor/owner was taking home about $550,000 each year in income. This certainly seems like a well-run business and a desirable acquisition candidate on the surface. When asked what he thought the practice was worth, the advisor responded, “about $2.2 million.” When asked how he came up with that number, he said, “It was fairly simple—2.2 times revenue and/or four times earnings.”

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RIAs Overwhelmingly Optimistic for 2013 GrowthTDAI finds advisors ready to plan, implement strategic initiatives and technology investments0BY JOHN SULLIVAN, ADVISORONEMarch 11, 2013 • ReprintsForget the Dow. The greatest measure of growth might come from advisors themselves.TD Ameritrade surveyed 502 RIAs on everything from top initiatives to their investment in technology to how theyre attracting new clients.The clearing and custodial giant found that advisory firms are gearing up for growth in 2013. The company’s Institutional Advisor Index survey says that 97% of respondents report their total number of clients increased or remained steady over the past six months. Nearly nine in 10 RIAs expect a faster asset under management AUM growth rate this year.

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In June 2011, financial advisor Jeff Leventhal went to Chicago for a home office visit with HighTower Advisors executives at the firms headquarters. Leventhal was pondering a move from the wirehouse where he worked to a more entrepreneurial practice, but he thought any action was a few years off.Instead, Leventhal brought his team of five to HighTower in Bethesda, Md., within three months. “The home-office visit was the number one thing that solidified my decision,” he says. Leventhal started his career in Merrill Lynchs training program in 1995 and stayed at the firm until 2003, when he moved to UBS. As he learned more about the industry beyond the wirehouses, Leventhal started to wonder whether he was in the best place to serve his clients. The meltdown of 2008 brought this idea into stark relief. Leventhal no longer wanted to be at a firm attached to an investment bank, and he found the fiduciary standard attractive.Leventhals advisor team was one of eight that HighTower brought on in 2011, and in 2012 there were nine more teams. This year, HighTower expects to add even more advisors.

More : HighTower Aims to Lure Top Names with Home Office Visit | On Wall Street.