The firm is continuing its growth plan by creating digital tools to reach out to a new generation of clients.

Morgan Stanley Wealth Management has launched an online investing platform called Morgan Stanley Access Investing, continuing a pattern of such business taking a digital route. 

The offering is part of the firm's plan to develop digital tools delivering insights to more clients and to capture a new generation customers, MSWM said in a statement.

Access Investing is an online investing platform designed to help build, monitor, and automatically rebalance a diversified portfolio. The offering helps investors who have less complex needs to meet financial goals such as retirement saving or buying a home, and doing so to take account of time horizons and risk tolerances. 

Built in-house, Access Investing gives investors access to portfolios backed by Morgan Stanley. Portfolios are based on asset allocation insights from Morgan Stanley’s global investment committee.

The platform is available to investors across all devices. It will have an investment minimum of $5,000 and has an advisory fee of 0.35 per cent of assets under management.

“Morgan Stanley Access Investing leverages the firm’s intellectual capital to reach a broader audience of investors who are looking to achieve their financial goals,” said Naureen Hassan, chief digital officer at Morgan Stanley Wealth Management. “Morgan Stanley Access Investing is an opportunity for financial advisors to grow their book of business by making connections with prospects earlier and eventually establishing full service relationships when clients are ready.”

In November, this publication reported that Morgan Stanley Wealth Management had launched its cash management offering, a person-to-person (P2P) payments service called Morgan Stanley Send Money with Zelle®. Earlier in November, Wells Fargo launched a robo-advisor service pitched at DIY clients.