Morgan Stanley to launch full-service wealth management in Canada
Morgan Stanley, a global financial services firm based in New York, announced on May 20 its plan to launch Morgan Stanley Wealth Management Canada, a full-service wealth management offering.
This new offering will complement the existing Shareworks by Morgan Stanley stock plan administrative services it provides to executives and employees who reside in Canada. Morgan Stanley has selected Canaccord Genuity as its local platform provider to support the deployment of its new wealth management business.
“The creation of Morgan Stanley Wealth Management Canada will add wealth management services to our comprehensive suite of workplace financial solutions,” said Brian McDonald, Head of Morgan Stanley at Work. “Taken together, these solutions will help to maintain and strengthen the competitiveness of Canadian companies by meeting the breadth of their employees’ needs.”
Morgan Stanley’s wealth management offering in Canada will include full-service financial advisors, virtual financial advisors, a discount self-directed investing solution and online investment management.
As Morgan Stanley’s platform partner, Canaccord Genuity will deliver a suite of clearing, custody and wealth management solutions. “We are pleased to provide Morgan Stanley with a number of customized solutions in support of this new venture. It’s a testament to the breadth and depth of Canaccord Genuity’s capabilities,” stated Stuart Raftus, President of Wealth Management at Canaccord Genuity in Canada.