Morgan Stanley · NYSE:MS
Morgan Stanley — Bernstein Conference 2023
14 slides from Morgan Stanley's conference presentation, May 31, 2023
Slide 1: Driving Growth Through The Cycle
Driving Growth Through The Cycle Andy Saperstein Co-President of Morgan Stanley and Head of Wealth Management May 31, 2023
Slide 2: Notice
Notice The information provided herein may include certain non-GAAP financial measures. The definition of such measures and/or the reconciliation of such measures to the comparable U.S. GAAP figures are included in this presentation, or in Morgan Stanley's (the ‘Company’) Annual Report on Form 10-K,
Slide 3: MSWM Has Transformed the Business Over Four Phases
MSWM Has Transformed the Business Over Four Phases… Paired Advice With Expanded Our Deepening Built Scale Technology Channels Relationships Self-Directed Modern Wealth Workplace Platform Advisor-Led WM Pre-Tax Profit Ongoing $3.3Bn $4.5Bn $6.2Bn Pre-Tax Profit 2015 2018 2021 Growth The End Notes are
Slide 4: Positioning Ourselves At Scale and As a "Category of One"
…Positioning Ourselves At Scale and As a “Category of One” WM Client Assets Fee-Based Assets Client Relationships SCALE (1) $4.6Tn $1.8Tn 18MM Total WM Client Assets Total Fee-Based Assets Client Relationships 2022 C (2) $311Bn $163Bn 3MM MOMENTUM Net New Assets Fee-Based Flows Added Relationships R
Slide 5: We Have Reinvented Our Business Model
We Have Reinvented Our Business Model From… …To INCREASED 2.5MM 18MM SCALE Core Client Relationships (1) Client Relationships ADDED Advisor-Led Only Advisor-Led Self-Directed Workplace CHANNELS EXPANDED Financial Advisor Financial Advisor Virtual Advisor Digital Advice SERVICE MODELS Private Wealth
Slide 6: Delivering $1Tn of Net New Assets Every Three Years
Delivering $1Tn of Net New Assets Every Three Years (1) Rolling Three-Year Net New Assets >$1Tn $1Tn Target $981Bn 5-7% of Beginning Assets $768Bn $419Bn $278Bn $247Bn 2016 - 2018 2017 - 2019 2018 - 2020 2019 - 2021 2020 - 2022 Rolling Last 3 Years (2) The End Notes are an integral part of this pres
Slide 7: Focused on Driving Continued Growth
Focused on Driving Continued Growth (1) Longer-Term Goals 2x+ $10Tn ~$12Bn (2) Growth in Client WM and IM Client Assets , WM Pre-Tax Profit, Relationships Powered by $1Tn of NNA With a 30%+ Margin Every Three Years The End Notes are an integral part of this presentation. See Slides 12-13 at the back
Slide 8: Client Acquisition Funnel Drives Deeper Advice Relationships
Client Acquisition Funnel Drives Deeper Advice Relationships GAIN ACCESS THROUGH WORKPLACE AND SELF-DIRECTED RELATIONSHIPS BUILD TRUST AND CREDIBILITY SUPPORT MIGRATION TO ADVICE The End Notes are an integral part of this presentation. See Slides 12-13 at the back of this presentation for informatio
Slide 9: Path to $10Tn in Client Assets
Path to $10Tn in Client Assets Client Assets Walk (1) WM Client Net New WM IM Client Assets Assets Today (2) Asset Growth Market Growth Client Assets Longer-Term Goal $10Tn $4.6Tn The End Notes are an integral part of this presentation. See Slides 12-13 at the back of this presentation for informati
Slide 10: Path to Doubling WM Pre-Tax Profit
Path to Doubling WM Pre-Tax Profit Full-Year WM Pre-Tax Profit Walk (1) Today Key Drivers of Growth Longer-Term Goal + Cost ‒- Investments $12Bn+ Savings + Market Growth + Lending Growth + Cash Deployment ++ NNA Benefit The End Notes are an integral part of this presentation. See Slides 12-13 at the
Slide 11: Q&A
Morgan Stanley Q&A 11
Slide 12: End Notes
End Notes These notes refer to metrics and/or terms presented on Slide 4: 1. WM Client Assets represent those assets for which Wealth Management (‘WM’) is providing services including financial advisor-led brokerage, custody, administrative and investment advisory services; self-directed brokerage s
Slide 13: End Notes
End Notes These notes refer to metrics and/or terms presented on Slide 5: 1. Core Client Relationships represent Advisor-Led Households as of 4Q 2019. These notes refer to metrics and/or terms presented on Slide 6: 1. Rolling Three-Year Net New Assets represents NNA aggregated across the stated time
Slide 14: Driving Growth Through The Cycle
Driving Growth Through The Cycle Andy Saperstein Co-President of Morgan Stanley and Head of Wealth Management May 31, 2023