In the first quarter of 2014, Morgan Stanley Wealth Management saw asset flows of a record $19 billion.
Moreover, net revenues were $3.6 billion, compared to $3.5 billion in the same period in the previous year, and total client assets exceeded $1.9 trillion. Pre-tax income totalled at $691 million, a 15.7% rise from the $597 million earned in the first quarter of 2013.
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Overall, Morgan Stanley saw net revenues of £8.9 billion, $700 million higher than recorded at the same point last year.
James P. Gorman, chief executive, said: "This quarter we generated higher year-over-year revenues in all three of our business segments, demonstrating the momentum we have built across the Firm. We continue to execute on our multi-year strategy to deliver consistent returns for our shareholders through revenue growth and strong expense discipline."
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