Morgan Stanley Wealth Management is the name consumers will hear going forward for Morgan Stanley Smith Barney.
Morgan Stanley announced today that it had renamed its U.S. wealth management unit to reflect the integration of its businesses. The name Morgan Stanley Smith Barney LLC will still be in fine print, however, since the official broker-dealer designation for MSWM remains Morgan Stanley Smith Barney.
Morgan Stanley on September 11 announced an agreement with Citigroup to increase its majority ownership of MSWM such that Morgan Stanley will assume full control by June 2015, subject to regulatory approval. The business was formed in 2009 as a joint venture between Morgan Stanley and Citi's Smith Barney.