Just weeks after losing a $1.1 million arbitration award to former advisors in a fight over deferred compensation, Morgan Stanley on Monday defeated a similar lawsuit from eight former brokers who sued the wirehouse in 2022 seeking $855,000 in deferred compensation they had claimed should be handed to them because it was retirement money protected by ERISA – the Employee Retirement Income Security Act of 1974.

A panel of three arbitrators under the aegis of Finra Dispute Resolution Services decided against the eight former Morgan Stanley advisors, who are scattered across Florida and have jumped in the past few years to a variety of Morgan Stanley competitors, including Wells Fargo Advisors, Raymond James & Associates Inc. and Ameriprise Financial Services. READ MORE