Market volatility in the second quarter took a toll on Morgan Stanley, which reported that profits in wealth management were down 8% year-over-year due in part to stagnant growth in client assets.

Net income dropped to $516 million for the recent quarter from $561 million for the year ago period. Client assets were flat at $2.034 trillion.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access