Jed Finn, recently appointed as head of Morgan Stanley Wealth Management, articulated the firm's ambitious goals of reaching $10 trillion in assets and achieving 30 percent profit margins.

As reported by AdvisorHub, Morgan Stanley will focus on converting brokerage customers to fee-based advisory accounts, a move that industry executives favor for its stability. Finn underscored the potential to increase the proportion of advisor-managed assets in recurring fee accounts from 50 percent to 70 percent without immediate changes to compensation structures.

Moreover, Finn outlined plans to expand Morgan Stanley's offerings to include banking products, capitalizing on the firm's acquisition of E*Trade in 2020 to offer checking accounts with attractive yields. This integrated approach responds to evolving client preferences for consolidated investment and banking services.

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