Who wins in Smith Barney-Morgan Stanley deal?

If the deal is consummated, who will win and who will lose as a result of the new venture? Smith Barney advisors win in one big way: They no longer will have to spend an inordinate amount of time assuring their customers about Citigroup, notes MarketWatch.

Customers may also be able to rest easier. Customers of both firms may end up with a wider choice of financial products. The losers may be small account holders, who just might find themselves pushed to call centers, but that was likely to happen in any case. A lot is riding on the shoulders of Ellyn McColgan, who was hired in December 2007 to run Morgan Stanley's wealth management unit. A  17-year veteran of Fidelity, she made customer satisfaction a big focus. 

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