Rockefeller has continued to consistently win recruiting battles with larger rivals over the past two years. One could make the claim that their strategy has been the most productive across the street by a wide margin. Specific to their success versus long entrenched wirehouses offering massive deals (Rockefeller’s deal is substantial as well)
That success continued this past Friday as a rising Morgan Stanley star migrated to Rockefeller in Atlanta. Brian Lusink snatched up his $1.55M in annual production and more than $300M in assets under management and trotted them over to Rockefeller’s new offices in Atlanta. We spoke to sources at Rockefeller about the move and they were pumped about the momentum that is building in places like Atlanta.
“The strategy continues to be national in scope and this is just another win that highlights that reality. The competition for advisors that are well established and have books that are continuing to grow is fierce. This particular win has much to do with our platform and the tech that we provide – specifically its depth and the ease of use versus our competition. We really like the advantages we have in the tech space and continue to invest in ways that we believe will keep us out front. And while we are talking, keep your eyes on movement in Texas.” – a source at Rockefeller on the condition of anonymity.
Mr. Lusink has been with Morgan Stanley nearly his entire career (better than 25 years) and the larger share of his practice focused on corportate retirement programs. His book grew out of his service to those retirement programs and should transfer to Rockefeller quickly because of those long-standing relationships.
Doing a little math – because that’s what we do here – the total cash register number on Mr. Lusink’s deal could top $4.5 million. A number that could be even a bit higher if Rockefeller popped for the deferred comp balances that Mr. Lusink is leaving behind at Morgan Stanley.
Finally, we continue to hear rumors of upcoming trades ‘of scale’ for Rockefeller in Texas and California. The minute they print we will be here to give you the details.