Morgan Stanley Smith Barney is looking to strengthen its ties with the business-owning community by striking an alliance with a large CFO services provider in the US.

Morgan Stanley Smith Barney is looking to strengthen its ties with the business-owning community by striking an alliance with a large CFO services provider in the US.

Under the agreement, B2B CFO, which works with entrepreneurial, growth and mid-market companies, will refer its clients to MSSB advisors for their personal wealth management needs.

“This agreement provides an innovative blueprint for a coordinated effort to meet both the corporate and personal wealth management needs of privately-held businesses and their owners,” Morgan Stanley said in a statement.

“Instead of the traditional ‘siloed’ approach that involves multiple advisors, business owners now have the ability to apply a comprehensive strategy to help reach their financial goals for both their family and business,” said Michael Brunner, senior vice president and financial advisor in Morgan Stanley Smith Barney’s downtown Houston office.

The agreement will be delivered through Morgan Stanley’s professional alliance group.

Arizona-based B2B operates in 45 states and has 216 partners. Its partners are senior-level executives who work with external firms to implement a six-step process for growth it has trademarked called “The Gameplan”. It has around 800 businesses as clients.

The CFO firm cited increased access to capital as one of the main benefits of the alliance to its clients, as this is a priority for business owners. When the credit markets dried up in 2008 it had a significant impact on small businesses, and both the number and overall value of loans under $1 million to small businesses were lower in 2011 than 2008 (source: FDIC).

However, the business-owning community still provides a critical area of growth for wealth management firms - both for those that specialize in working with business owners and for those who manage liquid wealth after a business has been sold.

In related news, it emerged yesterday the brokerage giant is having problems with its technology platform. "Management is meeting with advisors and actively addressing their concerns regarding the technology and operations platform. We have seen no spike in advisor attrition," Morgan Stanley told Family Wealth Report in an emailed statement.