Morgan Stanley (NYSE:MS) CEO Ted Pick floated a $10 trillion wealth management target at the firm’s U.S. Financials Conference, building on record first-quarter 2026 revenue and a combined $9 trillion in client assets.

Wealth Division Goes It Alone On Bold Target

Pick told the conference that the wealth division alone can reach the milestone, revising predecessor James Gorman‘s earlier combined goal, AdvisorHub reported earlier this week. “We are now at a stage where we can talk about $10 trillion in wealth alone,” Pick said. The advisor-led channel held $5.8 trillion, while workplace accounts and E*TRADE accounts managed $475 billion and $1.56 trillion, respectively.

Record Earnings Fuel Confidence

Morgan Stanley posted record first-quarter 2026 revenue of $20.58 billion and earnings per share of $3.43. Wealth management generated ...