Supporting its recognition as the world’s best private bank for family offices services, Morgan Stanley wins the regional award in this category, too.
At the heart of this recognition, and indeed the global award, is the bank’s efforts to create a new and differentiated service model for family-office clients, which combines the high-touch, customized service of a boutique firm with the full institutional capabilities, resources and access of a leading global investment bank and investment manager.
The efforts are paying off, demonstrated by a 100% year-on-year (2021 vs 2022) increase in the number of ultra-high net-worth families that now bank with Morgan Stanley, taking the total net worth under management to over $150 billion at the end of last year. Per client, the average assets under management stood at $1.5 billion.
The success, so far, is global. But attracting and servicing family offices in North America is the primary driver of the bank’s growth in this area.
At the heart of this recognition is the bank’s efforts to create a new and differentiated service model for family-office clients
Fundamental to that is the dedicated team of specialists – typically 10 supporting each financial adviser – and the platform clients have access to.