Morgan Stanley Smith Barney to expanded focus on the 'ultra wealthy'

Following the successful launch of its joint venture, Morgan Stanley Smith Barney plans to expnd its its team of wealth advisors who focus on ultra-high net worth clients through a dedicated effort branded under the Morgan Stanley Private Wealth Management, originally formed in 1977 and augmented in 2009, through Smith Barney's Citi Family Office (CFO) Resources.

In January 2009, Morgan Stanley acquired 51 per cent of Smith Barney from Citigroup, creating Morgan Stanley Smith Barney, which was formerly a division of Citigroup Capital Markets. The combined brokerage house has about 18,500 brokers and manages $1.7 trillion in client assets.

Now a division of Morgan Stanley Smith Barney LLC, Morgan Stanley Private Wealth Management, provides a range of investment and private banking services to ultra-high net worth individuals, families and related institutions in the United States, Latin America, Europe, the Middle East and Asia.

Morgan Stanley Private Wealth Management provides customised wealth management, including investment advice, research and execution, structured solutions, asset management, strategic asset allocation and performance reporting; family office services, including estate planning, family governance, expense management, concierge, art advisory and philanthropic/foundation services; private banking, including tailored lending; investment banking and capital markets services, in partnership with Morgan Stanley's Institutional Securities Group and Citi.

"The combination of Morgan Stanley's well established Private Wealth Management division and Smith Barney's leading Citi Family Office capabilities creates a strong platform for individuals and families of significant means.

These clients have highly specialised wealth management and private banking requirements which we are uniquely positioned to fulfill," said James Gorman, Co-President of Morgan Stanley and Chairman of Morgan Stanley Smith Barney.