In 2024, Morgan Stanley's 15,000 financial advisors must generate more revenue and work harder to maintain their current take-home pay. 

This change is due to the firm's decision to increase the incentive compensation grid by 10%, making it more challenging for advisors to retain the same percentage of revenue they typically pocket. Morgan Stanley has maintained its pay grid levels and thresholds since 2020. 

AdvisorHub.com initially reported the upcoming pay changes at the firm, noting that large firms typically unveil compensation plans in the fall. Historically, Morgan Stanley has adjusted its compensation plan to decrease payouts for underperforming brokers and financial advisors. To offset those changes, the firm is raising business plan development allowances by 10%, thereby providing advisors with more resources to invest in their practices.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.