Morgan Stanley 2010 Annual Report Download - page 11

income securities, including both primary and secondary trading, as well as listed, OTC and structured
derivatives in markets around the world. This activity is undertaken through the Company’s own facilities,
through membership in various clearing and settlement organizations, and through agreements with unaffiliated
third parties.
Global Wealth Management Group.
The Company’s Global Wealth Management Group, which includes the Company’s 51% interest in MSSB,
provides comprehensive financial services to clients through a network of more than 18,000 global
representatives in approximately 850 locations at year-end. As of December 31, 2010, the Company’s Global
Wealth Management Group had $1,669 billion in client assets.
Clients.
Global Wealth Management Group professionals serve individual investors and small-to-medium sized
businesses and institutions with an emphasis on ultra high net worth, high net worth and affluent investors.
Global representatives are located in branches across the U.S. and provide solutions designed to accommodate
individual investment objectives, risk tolerance and liquidity needs. Call centers are available to meet the needs
of emerging affluent clients. Outside the U.S., Global Wealth Management Group offers financial services to
clients in Europe, the Middle East, Asia, Australia and Latin America.
Products and Services.
The Company’s Global Wealth Management Group provides clients with a comprehensive array of financial
solutions, including products and services from the Company, Citigroup Inc. (“Citi”) and third-party providers,
such as insurance companies and mutual fund families. Global Wealth Management Group provides brokerage
and investment advisory services covering various types of investments, including equities, options, futures,
foreign currencies, precious metals, fixed income securities, mutual funds, structured products, alternative
investments, unit investment trusts, managed futures, separately managed accounts and mutual fund asset
allocation programs. Global Wealth Management Group also engages in fixed income principal trading, which
primarily facilitates clients’ trading or investments in such securities. In addition, Global Wealth Management
Group offers education savings programs, financial and wealth planning services, and annuity and other
insurance products.
In addition, Global Wealth Management Group offers its clients access to several cash management services
through various affiliates, including deposits, debit cards, electronic bill payments and check writing, as well as
lending products, including securities based lending, mortgage loans and home equity lines of credit. Global
Wealth Management Group also provides trust and fiduciary services, offers access to cash management and
commercial credit solutions to qualified small- and medium-sized businesses in the U.S., and provides individual
and corporate retirement solutions, including individual retirement accounts and 401(k) plans and U.S. and
global stock plan services to corporate executives and businesses.
Global Wealth Management Group provides clients a variety of ways to establish a relationship and conduct
business, including brokerage accounts with transaction-based pricing and investment advisory accounts with
asset-based fee pricing.
Operations and Information Technology.
As a result of MSSB, most of the operations and technology supporting the Global Wealth Management Group
are provided either by the Company’s Operations and Information Technology departments or by Citi. Pursuant
to contractual agreements, the Company and Citi perform various broker-dealer related functions, such as
execution and clearing of brokerage transactions, margin lending and custody of client assets. For the Company,
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