Morgan Stanley WM’s fee-based assets reach new high amidst limp Q2 performance

21 July 2016 | 2 minutes read

Morgan Stanley’s wealth management (WM) division posted an 8% decline in profits for the year’s second quarter, although the bank reached a new high in terms of client assets in fee-based accounts, according to its latest earnings report. Second quarter pre-tax income for WM – which includes the bank’s private wealth management business – dipped 2.9% from the same quarter…

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