The firm said recent regulatory changes stemming from the financial crisis led it and Morgan to re-evaluate their relationship and to allow Warrington to expand its business outside of the Morgan Stanley Wealth Management network.

Dallas, TX-based Warrington is headed by principal trader Scott Kimple, who launched the fund in 1997. Kimple and his assistant portfolio manager Mark Adams have been assembling a team of industry experts including the addition of chief operating officer Greg Fomin, formerly of Blue River Partners and Hunt Financial Ventures.

Warrington also has an advisory board so far consisting of Ken Webster, former president and COO of John Henry & Co, and Peter Borish, a long-time CTA and hedge fund manager.

Going forward, Warrington will be targeting high net worth individuals, family offices and institutional firms.