Supported by a strong showing from the banks wealth management unit, Morgan Stanleys earnings grew 30% to $1.5 billion in the first quarter of 2014.
Profits for Morgan Stanley Wealth Management increased 12.5% during the quarter, rising to $423 million from $376 million for the same period a year earlier. The strong performance was attributed to increased advisor productivity, growth in fee-based assets and continued improvements in the firms private banking business.
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