Morgan Stanley's wealth management division provided good news with its second quarter numbers. Morgan Stanley reported a 6% growth in net revenue for its wealth management division compared to the second quarter of 2019.  The $4.68 billion in net revenue was also a 16% increase from the first quarter of 2020.  Morgan Stanley attributed the positive numbers to its investment in technology and its credit quality.  As previously discussed in the Financial Advisor Transitions blog, investment in technology plays a large role in advisor satisfaction. 

In addition to an increase in net revenue, Morgan Stanley also reported an increase of $11.1 billion in new assets in its fee-based accounts. This marked a 13% increase from the second quarter of 2019. 

Morgan Stanley reported positive numbers despite the fact that the number of advisors at the firm has actually decreased slightly compared to 2019. By the end of the second quarter this year, Morgan Stanley had 15,399 advisors, a decrease of 234 advisors from the end of the second quarter in 2019.  Morgan Stanley attributed this decline to fewer candidates in training classes and an increase in veteran advisors retiring. 

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