According to AdvisorHub, recruiting loan balances soared at Morgan Stanley after its ambitious recruiting revival. According to its 10-K annual report filing, Morgan Stanley owed $3.73 billion to its advisors at the end of 2021. This was an increase of 15 percent, or $486 million, from $3.24 billion at the end of 2020.

The increasing loan balances highlight the importance that significant monetary offers play in convincing advisors to leave their firms. Chief Executive James Gorman attributed the increase of net positive recruiting to improved retention.

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