Despite volatile markets, this week US investment bank Morgan Stanley Wealth Management released positive financial results for the second quarter of 2025, beating expectations.

Morgan Stanley Wealth Management reported net revenue of $7.8 billion in the second quarter of 2025, up 14 per cent from a year earlier, by adding new assets and collecting more fees.

Net interest income totaled $1.9 billion, flat from the first quarter of 2025 and up 6 per cent from the second quarter of 2024, the firm said in a statement.

Profit before taxes reached $2.2 billion, up 13 per cent from the previous quarter, and an increase of 21 per cent from the second quarter of 2024. There was a pretax margin of 28 per cent, compared with 27 per cent in the first quarter of 2025.

Total client assets of $8.2 trillion across Wealth and Investment Management approached the goal of $10 trillion in assets set by former CEO James Gorman, supported by net new assets of $59 billion. Wealth Management attracted fee-based assets through the firm’s client acquisition funnel. Fee-based flows were $43 billion, the firm continued.

There were also record client assets of $6.5 trillion, up 8 per cent from the first quarter of 2025 and a rise of 14 per cent from a year earlier.

Fee-based assets of $2.5 trillion were up 5 per cent from the first quarter of 2025 and were 13 per cent above levels the same time last year. There were also net new assets of $59.2 billion and fee-based asset flows of $42.8 billion, up 44 per cent from the first quarter of 2025 and up 65 per cent from the previous year.

“Morgan Stanley delivered another strong quarter,” Ted Pick, chairman and chief executive officer, said. “Institutional securities saw strength and balance across businesses and geographies. Wealth continued to deliver, adding $59 billion of net new assets and $43 billion of fee-based flows.”

“Total client assets across Wealth and Investment Management reached $8.2 trillion. We announced an increase of our quarterly common stock dividend to $1.00 per share with flexibility to deploy incremental capital,” Pick continued. “The management team is executing across the integrated firm, acting as a trusted advisor to clients and driving durable growth and long-term returns for our shareholders.”