Morgan Stanley reported strong revenue growth for the fourth quarter led by record earnings for the firms wealth management division -- a sign of how far the firm has come since acquiring Smith Barney.
Revenue for Morgan Stanleys wealth management unit rose to $3.7 billion for the fourth quarter from $3.3 billion for the same period a year ago. Net income for the unit rose to $476 million for the fourth quarter from $370 for the year-ago period.
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