NEW YORK, NY, October 15, 2018 – The Money Management Institute (MMI) has selected Jim Tracy, Managing Director, Head of Consulting Group and Practice Management at Morgan Stanley, as its 2018 Advisory Solutions Pioneer. Mr. Tracy will receive the award during the 2018 MMI/Barron’s Industry Awards Dinner on October 16, 2018 at the MMI Annual Conference in Dallas.
The prestigious Pioneer Award, the highest honor in the investment advisory solutions industry, was first bestowed in 1998. It recognizes individuals who embody MMI’s mission to serve as advocates and catalysts for the advancement of the advisory solutions and wealth management industry.
“This award is given annually to an industry leader who exemplifies the pioneer spirit,” said MMI Chair Patty Loepker, Managing Director, Head of Research Directed Advisory Programs at Wells Fargo Advisors, “and Jim does just that. Over the course of his distinguished 35-year career, he has gained a deep appreciation of the issues facing investors and financial advisors and has spearheaded the development of groundbreaking solutions to meet their needs. Under Jim’s leadership, the Morgan Stanley Consulting Group has grown to over $1 trillion in assets and remains a pioneering and innovative force in the advisory solutions space.”
“Jim is one of the most widely-known and accomplished leaders in our industry,” said MMI President and CEO Craig Pfeiffer. “Our organization has been extremely fortunate to benefit from his involvement and perspective over the years. Jim served as Chair of the MMI Board of Governors in 2010-2011 and was recently appointed to a second term on the Board. This speaks to his enduring leadership, the deep respect of his industry colleagues, and – most importantly – to his singular focus on delivering better outcomes for financial advisors and their clients.”
Mr. Tracy, who joins a prestigious roster of previous Pioneer Award winners, said, “Having been involved with MMI in numerous capacities over the course of my career, I’m deeply honored to be recognized with the Pioneer Award. I am keenly aware of its significance and am privileged to join the distinguished group of past honorees – all of whom share my commitment to the advisory industry and its vital role in helping investors achieve their financial goals and life dreams. It has been a privilege to work closely with MMI over the years and to have been part of its development into an industry-leading organization. I also accept this award on behalf of my incredible team. There are many people who have been a part of our Consulting Group for many years, and I see this honor as a testament to what we have collectively achieved.”
In addition to his current role as head of Morgan Stanley’s Consulting Group, Practice Management, and Graystone Consulting, Mr. Tracy was previously the Director of National Sales and Business Development. Earlier in his career, he served as a financial advisor, branch manager, and regional director, gaining broad experience working with clients, advisors, and asset managers. Under Mr. Tracy’s guidance, Morgan Stanley was the first wirehouse to launch a Unified Managed Account (UMA) program and to offer firm discretion and financial advisor discretion under the UMA structure. He has also overseen the growth of the industry’s largest Separately Managed Account (SMA) business. Mr. Tracy led Morgan Stanley’s efforts to integrate Smith Barney’s advisory programs, ultimately leading to the development of industry-leading advisory technologies and solutions. Most recently, under his guidance, Morgan Stanley introduced Elevate, an on-demand, digital Practice Management University offering training and education for all financial advisors at Morgan Stanley, recognized in 2017 by MMI as the Advisor Development platform of the year.
Outside of his work at Morgan Stanley, Mr. Tracy is a trustee of the Marietta College Board and has contributed numerous articles, presentations, and keynote speeches on trends and innovations in the financial services industry.
About the Money Management Institute (MMI): Since 1997 MMI has been the leading voice for the global financial services organizations that provide financial advice and professionally-managed investment advisory solutions to individual and institutional investors. Through programs focused on member interaction, education and professional development, data analytics and insight, next-generation initiatives, and thought leadership and advocacy, MMI supports and advances the growth of a diverse spectrum of investment advisory solutions that serve an evolving worldwide financial landscape. MMI member organizations are committed to the highest standards of fiduciary responsibility and ethical conduct and to creating the most successful outcomes for investors at every level of assets. For more information, visit www.MMInst.org.