September 22, 2022
Jason Diamond Quoted
by Victoria Zhuang

Morgan Stanley plans to tease more wealth management clients out of its retirement and self-directed accounts by piecing together what the firm calls the “financial DNA” of each customer.

Morgan Stanley’s aggressive tech upgrades and investments in user experience are also a strategy that has won points with advisors.

In a year when other wirehouses have so far lost advisors to smaller competitors or independents, Morgan Stanley stands out as a rare big firm with a net gain of 87 advisors, according to industry recruiting consultant Jason Diamond. Diamond, who co-authored a report last week on advisor movements in the field, said the company’s strong technical infrastructure had contributed to its recruiting success.

“They do have an outstanding platform,” Diamond said of Morgan Stanley, in an interview. “Certainly in terms of technology and investments, they’re right at the forefront.”

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