Morgan Stanley rolled out a new dashboard for its 15,000-plus advisors, the latest in a series of technology investments that the brokerage has made.
The dashboard, dubbed WealthDesk, is intended to make it easier for advisors to manage client relationships. It will also better integrate the digital tools that Morgan Stanley has introduced in recent years, including
The firm is billing it as a “huge step” for its advisors, who gained access to it this week.
WealthDesk brings together more than 10 applications, such as the firm’s goals planning system and Next Best Action, a client communication tool that uses predictive analytics. The dashboard was developed in-house and replaces several other platforms that advisors previously relied on.
Morgan Stanley has typically chosen to work with a third party on digital products that executives view as unique or easily commoditized. But when it comes to core client experiences, the wirehouse says it prefers to build technology in-house.
At the T3 Conference, leaders discussed how showcasing the value of the new tools can help advisors connect with clients.
With so many changes in how people communicate, the lead generation and conversion process seems daunting. But experts say RIAs have the opportunity to achieve big growth through sustained and focused investing.
Questions this season reflect confusion about 1099 income, new OBBBA deductions and retirement considerations, according to data from online expert platform JustAnswer.
Morgan Stanley’s fintech investments are intended to produce greater efficiency, attract new assets and bolster the bottom line, executives say. It’s also a theme that firm leaders have emphasized during earnings calls with analysts.
Indeed, Morgan Stanley’s efforts often go beyond writing new software. The company is revamping
Of course, Morgan Stanley isn’t alone in pushing the digital frontier. A number of firms are doubling down on fintech in order to bolster and expand their businesses. For example,
--With additional reporting from Sean Allocca.
