Consent of Independent Auditors



We consent to the  reference to our firm under the caption  "Experts" and to the
use of our report dated February 9, 2001, in the  Registration  Statement  (Form
S-2 No.  333-____)  and related  Prospectus  of The Morgan  Group,  Inc. for the
registration  of  1,248,157  shares  of its Class A common  stock and  2,200,000
shares of its Class B common stock and to the incorporation by reference therein
of our report dated February 9, 2001, with respect to the consolidated financial
statements and schedule of The Morgan Group,  Inc. included in its Annual Report
(Form 10-K) for the year ended December 31, 2000,  filed with the Securities and
Exchange Commission.

                                                        Ernst & Young LLP


Greensboro, North Carolina                              /s/ Ernst & Young LLP
June 14, 2001