Morgan Stanley advisers hit revenue record in fourth quarter

Morgan Stanley advisers hit revenue record in fourth quarter
Advisers produced average annualized revenue of $1 million in the period.
JAN 13, 2017
Morgan Stanley's 15,763 advisers hit an all-time best in productivity during the fourth quarter of 2016, generating average annualized revenue — fees and commissions — per adviser of more than $1 million. The firm's wealth management unit over the three months ended in December produced net revenue of almost $4 billion and pre-tax income of $891 million, according to a release by the company. For the year, wealth management at Morgan Stanley reported pre-tax income from continuing operations of $3.4 billion compared with $3.3 billion a year earlier. Meanwhile, Morgan Stanley's CEO James Gorman said on a conference call with analysts Tuesday morning that the firm's wealth management unit had signed new alliances with 10 digital businesses last year as the firm further enhances digital offerings for advisers and clients. Last week, Morgan Stanley announced one of those new relationships, saying that software from data-aggregation company Addepar Inc. is now used by the bank's largest private-wealth teams. (More: Bank of America's Merrill Lynch reports a 1% increase in number of financial advisers)

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound