The firm said in a memorandum yesterday (source: Wall Street Journal, July 30, 2018) that it would reward advisors who use recently-launched financial planning tools that demonstrate where clients have money and how it’s spent. The memo was sent to Morgan Stanley’s roster of about 16,000 advisors, the report said.

Family Wealth Report has contacted the Wall Street firm for comment and may update this article in due course.

Along with rivals such as , which has suffered a number of compliance mis-steps, is reportedly considering a shakeup to its wealth management arm although this publication understands that such moves will not affect its Abbot Downing business, which caters to the ultra-high net worth client segment.