A U.S. probe into how Morgan Stanley client information ended up for sale on the Internet is examining whether a financial adviser was targeted by hackers after he took data from the bank, two people briefed on the inquiry said.

While Galen Marsh was dismissed for obtaining information on as many as 350,000 wealth-management clients, his lawyer said last month that the 30-year-old financial adviser didn't seek to sell or use it for personal gain. Federal investigators are trying to determine whether his computer was breached after he removed data from the firm, the people said. There's no evidence Morgan Stanley's own computers were hacked, said one of the people, who's familiar with the company's review.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.