Morgan Stanley 2014 Annual Report Download - page 9

income securities, mutual funds, structured products, alternative investments, unit investment trusts, managed
futures, separately managed accounts and mutual fund asset allocation programs. Wealth Management also
engages in fixed income principal trading, which primarily facilitates clients’ trading or investments in such
securities. In addition, Wealth Management offers education savings programs, financial and wealth planning
services, and annuity and other insurance products.
In addition, Wealth Management offers its clients access to several cash management services through various
banks and other third parties, including deposits, debit cards, electronic bill payments and check writing, as well
as lending products through affiliates such as MSBNA and Morgan Stanley Private Bank, National Association
(“MSPBNA” and, together with MSBNA, the “U.S. Subsidiary Banks”), including securities-based lending,
mortgage loans and home equity lines of credit. Wealth Management also offers access to 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.
Wealth Management 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.
The Company’s Operations and Information Technology departments provide the process and technology
platform to support the Wealth Management business segment, including core securities processing, capital
markets operations, product services, and alternative investments, margin, payments and related internal controls
over activity from trade entry through settlement and custody. These activities are undertaken through the
Company’s own facilities, through membership in various clearing and settlement organizations, and through
agreements with affiliates and unaffiliated third parties.
Investment Management.
The Company’s Investment Management business segment, consisting of Traditional Asset Management,
Alternative Investments, Merchant Banking and Real Estate Investing activities, is one of the largest global
investment management organizations of any full-service financial services firm and offers clients a broad array
of equity, fixed income, alternative investments, real estate and merchant banking strategies. Portfolio managers
and other investment professionals located in the U.S., Europe and Asia manage investment products ranging
from money market funds to equity and fixed income strategies, alternative investment and merchant banking
products in developed and emerging markets across geographies and market capitalization ranges.
Institutional Investors.
The Company provides investment management strategies and products to institutional investors worldwide,
including corporations, pension plans, endowments, foundations, sovereign wealth funds, insurance companies
and banks through a broad range of pooled vehicles and separate accounts. Additionally, the Company provides
sub-advisory services to various unaffiliated financial institutions and intermediaries. A Global Sales and Client
Services team is engaged in business development and relationship management for consultants to help serve
institutional clients.
Intermediary Clients and Individual Investors.
The Company offers open-end and alternative investment funds and separately managed accounts to individual
investors through affiliated and unaffiliated broker-dealers, banks, insurance companies, financial planners and
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