Morgan Stanley has announced plans to set up a wealth management office in Gilbert, Arizona in July 2018.

The new office will be home to the company’s client advisory centre, offering wealth management services to customers remotely.

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For the new office, the firm will hire 250 people in the role of financial advisers, client relationship advisers, risk officers and operations associates over the coming two years.

At the same time, the facility will also house support staff for Morgan Stanley Access Investing clients.

Commenting on the move, Morgan Stanley managing director for wealth management Jaime Sobrepera said: “We are excited about our expansion in the Phoenix area given the diverse and talented market.

“This new office is central to supporting our long-term growth strategy and a testament to the investment we are making in our digital offerings and the expected growth across our Wealth Management business.”