Morgan Stanley Wealth Management

Morgan Stanley's cuts add to a series of workforce reductions across Wall Street as bosses navigate an uncertain economic outlook.

The bank's wealth management and investment management units have been standouts in recent years.

Saperstein, who oversees both wealth and investment management for Morgan Stanley, plans to continue working throughout his treatment schedule.

In two FINRA enforcement cases and an arbitration award, wealth management firms are resolving allegations that they breached their duties.

The influx during a challenging quarter displays how the wirehouse's three channels are starting to work together in tandem, CEO James Gorman says.

The wealth manager has leveraged massive resources across its three channels, but it’s not altering its approach to the continuing breakaway movement.

CEO James Gorman says the company has created something new by adding Solium and E-Trade to its existing force of financial advisors.

Despite record growth in wealth management, an otherwise rosy earnings report was marred by $911 million loss related to Archegos Capital.

In the first wave of cases under the regulator’s self-reporting initiative, it garnered more than $2.7 million in payments of restitution plus interest.

Like its largest rivals, the wirehouse kept grids at par after a tumultuous 2020.