Morgan Stanley Wealth Management has partnered with private health advisory firm PinnacleCare in an arrangement that the firm says will enable financial advisors to incorporate the management of health issues into wealth planning discussions.

“Healthcare is a silent concern for many of our clients until it becomes a real issue in their lives and the lives of family members. Financial advisors who can discuss such healthcare concerns with clients and offer access to real solutions offer a truly differentiated advisory service,” said Robert Seaberg, managing director of wealth advisory solutions at Morgan Stanley Wealth Management.

The firm said that benefits offered by PinnacleCare included access to top medical institutions and resources, vetted physician referrals and consultations on private health insurance and Medicare enrollment.

In addition to this, through its alliance with PinnacleCare, Morgan Stanley recently extended to clients a new eldercare option for a geriatric assessment and coordination of associated medical needs and insurance claims.

The announcement follows a recent national poll by Morgan Stanley which showed that even high net worth individuals were worried about affordable healthcare. The survey revealed that 68 per cent of millionaire households cited it as a concern, versus 77 per cent of households with at least $100,000.

In other recent news, earlier this month Morgan Stanley appointed three financial advisors in New York, Arkansas and Florida. For more on this story, click here.

Morgan Stanley's global wealth arm logged pre-tax income from continuing operations of $597 million in the first quarter of 2013, up from $403 million a year ago. The quarter's pre-tax margin was 17 per cent and net revenues for the quarter were $3.5 billion compared with $3.3 billion a year ago.