Morgan Stanley Wealth Management is an American multinational financial services corporation specializing in retail brokerage. It is a joint venture between Morgan Stanley and Citigroup.
On January 13, 2009, Morgan Stanley and Citigroup announced that Citigroup would sell 51% of Smith Barney to Morgan Stanley, creating Morgan Stanley Smith Barney, which was formerly a division of Citi Global Wealth Management. The combined brokerage house has 17,649 financial advisors and manages $1.65 trillion in client assets. Clients range from individual investors to small- and mid-sized businesses, as well as large corporations, non-profit organizations and family foundations.
On September 25, 2012, Morgan Stanley announced that its U.S. wealth management business was renamed "Morgan Stanley Wealth Management." The broker-dealer designation for Morgan Stanley Wealth Management will remain "Morgan Stanley Smith Barney LLC."
Read more about Morgan Stanley Wealth Management: History, Acclamation, Acquisition History
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