Morgan Stanley Achieves Profit Goal
Morgan Stanley has reached its profit goal, with a pretax margin of 30.3% in the third quarter, exceeding its long-standing goal of 30%.
The company also reported a record quarter for wealth management revenues, driven by strong asset inflows. This progress brings Morgan Stanley closer to its ambition of managing $10 trillion in wealth and investment assets.
Morgan Stanley's pretax margin is the proportion of revenue the firm has left over following the subtraction of nontax expenses.
- Pretax margin for wealth management business: 30.3%
- Previous quarter's pretax margin: 28%
- Goal: managing $10 trillion in wealth and investment assets
Author's summary: Morgan Stanley hits profit goal with 30.3% pretax margin.