Morgan Stanley said revenues from wealth management in Q3 2015 were $3.6 billion, compared with $3.8 billion a year ago, and essentially flat on the second quarter of this year.

Morgan Stanley as a group logged net revenues of $7.8 billion for the third quarter ended September 30, 2015, compared with $8.9 billion a year ago. Net income meanwhile was $1.0 billion, or $0.48 per diluted share, compared with net income of $1.7 billion, or $0.83 per diluted share, for the same period a year ago.

Earnings for Q3 2014 included a net discrete tax benefit of $237 million or $0.12 per diluted share, the US-listed bank said.