Morgan Stanley Wealth Management is the wealth management division of the investment bank Morgan Stanley. The division serves individuals, families, businesses and institutions.
Morgan Stanley Wealth Management offers a range of services, including wealth planning, investment management, estate planning and IRAs and other retirement solutions.
Morgan Stanley Wealth Management Background
Though Morgan Stanley has served clients for more than 80 years as an investment bank, it moved into wealth management in the 1970s. In 2009, Morgan Stanley Wealth Management merged with Citigroup’s Smith Barney to create Morgan Stanley Smith Barney.
In 2013, Morgan Stanley completed the purchase of the joint venture, becoming the full owner of the massive wealth management franchise. The investment advisory division had changed its name from Morgan Stanley Smith Barney to Morgan Stanley Wealth Management in 2012. The affiliated brokerage portion of the business still operates under the name Morgan Stanley Smith Barney.
Morgan Stanley Wealth Management Client Types and Account Minimums
Morgan Stanley Wealth Management serves both high-net-worth and non-high-net-worth individuals, as well as banking or thrift institutions, pension and profit-sharing plans, charitable organizations, government entities, investment companies, insurance companies, businesses and investment clubs.
The firm offers a variety of account programs, each with different account minimums and for varying levels of investment experience.
For example, to invest in one of the firm's Core Portfolios – model portfolio strategies comprising a mix of exchange-traded funds – the firm requires just $500. Meanwhile, to receive the firm's Portfolio Management service, you'll need to invest at least $10,000.
To illiustrate the range of different services that Morgan Stanley offers, here are two other divisions within Morgan Stanley Wealth Management:
Financial Planning Services
Morgan Stanley Wealth Management offers personalized financial planning services through its advisors and Estate Planning Strategies Group. These services begin with a discovery process that gathers detailed information about a client’s finances, goals, and estate needs. Based on this input, advisors create a customized plan using proprietary planning tools, with optional simulations and return estimates.
Plans may cover education, retirement, tax and insurance strategies, but do not include investment implementation unless separately agreed upon. Fees typically range up to $5,000, or $10,000 for more complex cases. The service is available to individuals and, under certain arrangements, to corporate employees.
Private Wealth Management
Private Wealth Management is a division of Morgan Stanley Wealth Management that exclusively serves ultra-high-net-worth individuals. Morgan Stanley declined to disclose the account minimum required to enroll in Private Wealth Management. However, ultra-high-net-worth individuals are defined as people who have at least $30 million, not including personal assets.
Services Offered by Morgan Stanley Wealth Management
Morgan Stanley Wealth Management claims that it provides services relevant to each stage of life. Its services include:
- Goals-based wealth planning
- Investment advice and management (both discretionary and non-discretionary)
- Long-term care and disability insurance
- Trust and estate planning
- Cash management and lending solutions
- IRAs and other retirement solutions
- Tax planning
- Insurance solutions
- Education funding
- Income protection strategies
Morgan Stanley Wealth Management Investment Philosophy
Morgan Stanley Wealth Management provides both model and custom portfolios, and it claims to offer its clients the choice of 140 different investing products. It says it commonly uses stocks, bonds, money market funds, mutual funds, exchange-traded funds and cash for client portfolios. For qualified investors, Morgan Stanley Wealth Management offers alternative investment opportunities.
The firm offers a range of investment philosophies and strategies tailored to client preferences and financial objectives. Through financial planning services, advisors develop customized plans addressing retirement, education, tax, and estate planning goals. Core Portfolios deliver automated ETF-based portfolios using model-driven asset allocation, with features like tax-loss harvesting and socially responsible overlays. The Portfolio Management program grants advisors discretion over security selection, using defined strategies aligned with client risk profiles.
For clients preferring outside managers, Morgan Stanley offers separately managed account (SMA) programs, where vetted third-party or client-selected managers oversee portfolios. These services span digital platforms to personalized consulting.
Fees Under Morgan Stanley Wealth Management
Just as the account minimums vary by program type, so do the fees. For investment advisory services, Morgan Stanley Wealth Management says its fees are generally based on a percentage of the total value of your assets under management and charged quarterly. These fees are charged in advance each quarter.
Morgan Stanley Wealth Management says it may also receive commissions and markups, as well as other fees and charges including account maintenance fees, account transfer and termination fees, cash management services fees, third-party fees and investment specific fees.
Morgan Stanley says the MSWM fee, the annual fee it charge for its services, is a maximum of 2.00%. Morgan Stanley also charges a platform fee of 0.035% to client assets in select programs.
Morgan Stanley Wealth Management Brokerage Partnerships
Morgan Stanley Wealth Management is also registered as a broker-dealer. The broker-dealer designation for Morgan Stanley Wealth Management is Morgan Stanley Smith Barney.
As a broker-dealer, Morgan Stanley will make securities transactions on your behalf, among other services. Unlike the wealth management side, Morgan Stanley Smith Barney does not have the discretion to buy and sell securities for its clients, nor does it have a fiduciary or advisory duty to its clients. Morgan Stanley financial advisors can provide both brokerage services and investment advisory services.
Morgan Stanley Wealth Management Personnel
Morgan Stanley has an exceptionally large team of 13,000 advisory representatives. However, Morgan Stanley Wealth Management makes it easy to sift through its thousands of advisors to find the right fit for you.
The wealth management landing page on the Morgan Stanley website features a search bar, where you can enter in your zip code. The search results display financial advisors near you, and the results can be further filtered according to your occupation, investment needs, language preferences and whether there are any particular certifications you’d like in an advisor.
Morgan Stanley Wealth Management’s search feature also allows you to search for an advisor by name or to find nearby branches.
Morgan Stanley Wealth Management Awards and Recognition
Morgan Stanley Wealth Management, including the Morgan Stanley Private Wealth Management division, has earned a slew of awards from major financial publications in recent years.
In 2025, Forbes ranked 25 Morgan Stanley financial advisors best-in-state. Twenty-two financial advisors from the firm were also ranked in Forbes' Top Women Wealth Advisors. And 10 Morgan Stanley advisors were ranked #1 in their state by Barron's.
What to Watch Out For
Morgan Stanley Wealth Management has more than 150 disclosures on record with the SEC. This isn’t necessarily unusual for such a large financial institution, but it’s something current and potential clients should be aware of.
Opening an Account with Morgan Stanley Wealth Management
Finding a nearby Morgan Stanley Wealth Management financial advisor, branch or private wealth advisor is as simple as going to the wealth management section of the firm’s website and entering your zip code. You’ll be provided with a list of nearby financial advisors, as well as the advisors’ certifications, areas of focus and websites. You can then contact an advisor to discuss the process or set up an appointment.
To enroll in one of Morgan Stanley Wealth Management’s portfolio management programs, you’ll typically need to complete a client profile and fill out an investment questionnaire. Clients interested in Morgan Stanley’s financial planning services will go through a discovery process with their financial advisors. This process includes a review of any requested financial documents and a discussion about a client’s current financial situation, future needs, liabilities, income sources and expenditures, tax status and retirement, estate and insurance planning needs.
Tips for Finding a Financial Advisor
- Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Consider your alternatives. If you’re just starting out or you don’t have a lot to invest, consider a robo-advisor instead of a traditional financial advisor. Robo-advisors typically require lower account minimums and charge lower fees.
