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Morgan Stanley PWM Australia slices advisor pay, RM headcount drops by 24

The Australian wealth management industry continues to be the battleground of a flurry of activity, this time with Morgan Stanley announcing it is cutting commissions for its Australia-based advisors as part of a major overhaul of its US$26 billion business. In a move to tackle high cost pressures, “Morgan Stanley will from July 1 cut broker commissions by up to…

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