Morgan Stanley launching wealth management service in Canada


The New York-based brokerage is muscling into the highly competitive sphere currently dominated by Canadian banks. (The Globe and Mail)

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Talking point: Morgan Stanley’s wealth management move into Canada comes a year after its $1.1-billion purchase of Calgary-based stock compensation administrator Solium Capital, from which it has harvested some 275,000 potential customers. Morgan Stanley Wealth Management Canada will primarily target executives who own stakes in their companies.