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Merrill Lynch recruits a $13 billion team from Morgan Stanley’s Graystone Consulting
The Apex Times

THE APEX TIMES

Business/The Apex Times/Jul 31, 2:29 PM EDT

Merrill Lynch recruits a $13 billion team from Morgan Stanley’s Graystone Consulting

Merrill expands its institutional advisory and wealth management coverage by hiring a senior consulting group formerly aligned with Morgan Stanley’s Graystone unit, according to a report.

By The Apex Times Newsroom2 min readAI-assisted Apex article

Merrill Lynch has hired a consulting and advisory team previously associated with Morgan Stanley’s Graystone Consulting, a move aimed at strengthening Merrill’s institutional consulting and wealth management offering, according to a report published by.

The team is described in the announcement as managing or serving approximately $13 billion in client assets, indicating an incremental build in Merrill’s advisory footprint rather than a broad reorganization.

The report frames the hiring as part of ongoing competition among large wirehouses and wealth platforms for teams with established client relationships, particularly those that can bridge institutional consulting work and ongoing wealth management needs.

Morgan Stanley’s Graystone Consulting, the source points to, has been positioned as a consulting service line within the firm’s wealth ecosystem. The recruitment suggests Merrill wants more of that kind of cross-over expertise, pairing consultation with client execution through its own wealth management platform.

Wirehouse advisory teams often bring more than a headcount, they bring client mandates, referral relationships, and a playbook for complex planning work. In that context, a team associated with a roughly $13 billion book is likely to be valuable for Merrill not only for near-term revenue, but also for long-term client retention and deeper asset growth.

Still, the report does not provide key specifics that typically matter to investors and industry watchers: it does not name the advisors joining Merrill, does not state their exact locations, and does not disclose the terms of the move or whether any existing Morgan Stanley arrangements are being transitioned.

It also does not clarify what portion of the $13 billion figure is tied to particular services, such as institutional consulting retainers versus separately managed account work. Those distinctions can affect the persistence of revenue, timing of asset transfers, and the operational burden of integrating advisory teams into a different platform.

For Merrill and Morgan Stanley, the next question is how quickly Merrill can fully operationalize the team and convert consultative relationships into assets under management on its own systems. Watch for follow-on announcements that identify the advisors and describe how the clients are being transitioned, since those details often determine whether such lateral moves produce sustained growth.

Why It Matters

  • Hiring a large advisory team suggests continued intense competition for relationship-led client work across major wirehouses.
  • Cross-over teams that can blend consulting and ongoing wealth management can be harder to replicate than individual advisors, making moves like this potentially strategic for platform positioning.
  • The absence of disclosed integration details raises questions about timeline and revenue durability until more information becomes available.

Sources

Key Facts

  • Merrill Lynch hired a consulting and advisory team from Morgan Stanley’s Graystone Consulting, according to.
  • The recruited team is described as tied to about $13 billion in client assets.
  • The report characterizes the move as strengthening Merrill’s institutional consulting and wealth management capabilities.
  • The announcement does not disclose the advisors’ names, locations, or the financial terms of the transition.

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Merrill Lynch recruits a $13 billion team from Morgan Stanley’s Graystone Consulting | The Apex Times