Another big advisor with a decade at Smith Barney or its predecessors and over $1 billion in AUM has left, this time becoming an independent RIA.
Larry King had been at Citigroup and Citi Smith Barney since 2000, but Morgan Stanley apparently wasn't enough for the Sarasota Springs, NY advisor.
He's now the head of the King Wealth Management Group, an RIA chartered under the Dynasty Financial Planners rubric.
Dynasty, in turn, is run by some very high-powered ex-Citi Smith Barney people, so there's a family bond there.
James Gorman over at Morgan Stanley is bemoaning the fact that "the market" doesn't understand the synergies that his firm's 2009 merger with Citi Smith Barney opened up.
With so many advisors fleeing from that side of the company, he might do well to look into why his own talent pool doesn't appreciate it, either.