Morgan Stanleyreason 01 of 4it gets paid again without selling againderived 2026-09-08accession 0000895421-26-000212
Wealth Management delivered net revenues of $8.9 billion in Q2 2026, increasing 14% compared with the prior year quarter
The business added net new assets of $148 billion and fee-based assets of $39 billion in Q2 2026
Asset management revenues of $5,261 million in Q2 2026 increased 19% compared with the prior year quarter, primarily reflecting higher fee-based assets due to higher market levels and the cumulative impact of positive fee-based flows
Wealth Management pre-tax margin was 30.5% in Q2 2026
Client assets represents the sum of Wealth Management client assets and Investment Management AUM totaling $382 billion and $350 billion as of June 30, 2026 and December 31, 2025, respectively, invested in Investment Management products
two findings, in the order they were read
Net revenues increased from $8,519 million to $8,856 million quarter-over-quarter, consistent with the stated Wealth Management revenue growth.
before · MD&A · 2026-03-31 → 2026-06-30
“Wealth Management net revenues of $8,519 million in the current quarter increased 16% from the prior year quarter”
→ after
“Wealth Management net revenues of $8,856 million in the current quarter and $17,375 million in the current year period increased 14% and 15%, respectively”
Asset management revenues rose from $5,079 million to $5,261 million with year-over-year growth accelerating from 16% to 19%, bearing on the stated fee-based asset growth reason.
before · MD&A · 2026-03-31 → 2026-06-30
“Asset management revenues of $5,079 million in the current quarter increased 16% compared with the prior year quarter”
→ after
“Asset management revenues of $5,261 million in the current quarter and $10,340 million in the current year period increased 19% and 17%, respectively”
the evidence · every sentence checkedseven sentences · whole, uncut
the claims it rests on
“Wealth Management delivered net revenues of $8.9 billion in Q2 2026, increasing 14% compared with the prior year quarter”
“The business added net new assets of $148 billion and fee-based assets of $39 billion in Q2 2026”
“Asset management revenues of $5,261 million in Q2 2026 increased 19% compared with the prior year quarter, primarily reflecting higher fee-based assets due to higher market levels and the cumulative impact of positive fee-based flows”
“Wealth Management pre-tax margin was 30.5% in Q2 2026”
“Client assets represents the sum of Wealth Management client assets and Investment Management AUM totaling $382 billion and $350 billion as of June 30, 2026 and December 31, 2025, respectively, invested in Investment Management products”
what it was checked against
Q2 2026 Wealth Management performance metrics
“Wealth Management delivered net revenues of $8.9 billion, reflecting strong Asset management revenues, increased Net interest income and higher client activity, generating a pre-tax margin of 30.5%. The business added net new assets of $148 billion and fee-based assets of $39 billion.”
Wealth Management revenue growth drivers
“Wealth Management net revenues of $8,856 million in the current quarter and $17,375 million in the current year period increased 14% and 15%, respectively, compared with the prior year periods, primarily reflecting higher Asset management revenues on higher market levels and the cumulative impact of positive fee-based flows, increased Net interest income and higher client activity.”