CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-72996)  pertaining to The Morgan Group, Inc. Incentive Stock Plan and
in the Registration  Statement (Form S-8 No. 33-72998)  pertaining to The Morgan
Group, Inc. 401(k) Profit Sharing Plan of our report dated March 4, 1997, except
for  Note 4, as to which  the  date is  March  25,  1998,  with  respect  to the
consolidated  financial  statements  of The Morgan Group,  Inc.  included in the
Annual Report (Form 10-K) for the year ended December 31, 1997.


                                                           /s/ Ernst & Young LLP


Greensboro, North Carolina
March 25, 1997