Morgan Stanley Leaning on Wealth Managers
We read a nice article about the boom in Morgan Stanley’s wealth management group today. Seems the wealth management business helped increase net earnings by some 13%. Why is that important?
A couple of reasons of course. It’s allowed the company to increase its share buyback program to over $1 billion.
But with over $700 billion in assets under management and nearly 16,000 wealth managers, Morgan views the assets as a source to borrow against for clients.
And of course this is where we come in – we often value assets that are part of those family portfolios.
And since we don’t know all 16,000 folk’s at Morgan, we’d like to introduce ourselves…