The new unit will support financial advisors who cater to Morgan Stanley's uber-rich clientele.

Morgan Stanley is reportedly forming a 66-strong team to assist financial advisors who work with some of the bank’s wealthiest clients. 

Morgan Stanley Family Office Resources will be led by David Bokman and Daniel DiBiasio, Bloomberg reports, citing a memo from Shelley O’Connor and Andy Saperstein, co-heads of wealth management. 

Family Wealth Report has reached out to the bank for comment and will update coverage accordingly. 

The new unit will reportedly help clients address estate planning issues, family governance, asset allocation and portfolio strategy. Lifestyle and concierge services will also be available for clients with more than $20 million of investible assets.

Last year, the broker-dealer side of Morgan Stanley decided, along with some other firms, to walk away from an industry-wide pact, or "protocol", under which firms had agreed not to sue one another in the event of staff defections to rivals. The US-listed group said the protocol was, in its view, increasingly misused.