Morgan Stanley Smith Barney is raising its recruiting deal for top-producing advisers, according to people familiar with the situation.

The retail brokerage joint venture will offer top-tier advisers from its competitors up to 330% of their annual production to join the firm, an increase from a previous offer of 230% to 250%. A Morgan Stanley Smith Barney spokeswoman said: "Our recruiting is competitive with everyone else's on the Street," but declined to comment further.

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