It helps to have a plan, particularly one that works.
When Morgan Stanley beat earnings expectations for the fourth quarter, it wasn’t hard to spot why.
Wealth management has become the driving force behind the Wall Street bank. In the last three months of 2022, the division generated revenues of $6.62 billion, up 5.9% year on year.
For the full year, wealth management produced pre-tax profit of $6.6 billion, on revenues of $24.4 billion – both record numbers.
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