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.
The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.
Exchange funds could help address some wealthy clients' concentration risks and tax quandaries at the same time.
Valerie Song is currently a senior director at Klaros Advisors. She has nearly 17 years of experience as an attorney at the Office of the Comptroller of the Currency, including serving as acting associate chief counsel. She has also advised financial institutions and fintech companies as a senior associate in WilmerHale's Financial Institutions Group.
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.
