The bank's move is an example of how key documents are being managed in the digital age, and of concerns about cyber-security threats.

Morgan Stanley has launched a kind of digital “vault” for documents that can be shared with advisors at the wealth management side of its business.

The US firm’s offering is powered by cloud content management firm Box.

The vault enables clients to store documents such as wills, deeds, estate plans, financial statements and tax filings with their financial advisors. This unified solution offers an additional layer of encryption not offered through email, and also supports two-way sharing.

Features of the platform include encrypted cloud-based document storage and sharing between the client and financial advisor in a central location; client document upload and access through Morgan Stanley online and the Morgan Stanley mobile app; notifications when content is uploaded for both clients and advisors, and interactive commentary to enhance client and advisor collaboration on documents.

The wealth management firm stressed that its 3.2 million clients benefit from enhanced security – a strong concern at a time of worries about cyber-security attacks on banks and similar institutions.

“Box empowers our clients to collaborate with their financial advisors seamlessly while adhering to the highest standards of data privacy, protection and security,” Sal Cucchiara, chief information officer for wealth management at Morgan Stanley, said. “Protecting our clients’ assets and personal information is our top concern, and this is our latest investment in safety and security at scale.”

The firm said that uploading a document to Morgan Stanley’s document sharing platform does not obligate Morgan Stanley or its employees to review or take any action with respect to the document.