Morgan Stanley to Launch Wealth Management in Canada as Part of Its Leading Workplace Offering

NEW YORK & TORONTO--(BUSINESS WIRE)--Morgan Stanley today announced its plan to launch Morgan Stanley Wealth Management Canada, a full-service wealth management offering to complement the existing Shareworks by Morgan Stanley stock plan administrative services it provides to executives and employees who reside in Canada (subject to regulatory approval). Morgan Stanley has selected Canaccord Genuity as its local platform provider to support the deployment of this new business.

Morgan Stanley acquired Calgary-based Solium Capital Inc. (rebranded Shareworks by Morgan Stanley) in May 2019 and formed the Morgan Stanley at Work suite of financial solutions. Shareworks by Morgan Stanley has been operating in Canada since 1999 and services more than 350 Canadian Companies, comprising over 70% of the companies listed on the TSX60. Its client base includes more than 275,000 Canadian stock plan participants who hold more than US$17.5 billion in assets.

“The creation of Morgan Stanley Wealth Management Canada will add wealth management services to our comprehensive suite of workplace financial solutions,” said Brian McDonald, Head of Morgan Stanley at Work. “Taken together, these solutions will help to maintain and strengthen the competitiveness of Canadian companies by meeting the breadth of their employees’ needs.”

Morgan Stanley has had a longstanding and uninterrupted presence in Canada since the 1960s. It has offices in Toronto, Calgary, Vancouver and Montreal and employs over 1,500 Canadians across a diverse group of businesses, including Institutional Securities Sales & Trading, Investment Banking, Capital Markets, Commodity Trading and a Technology Center. “Morgan Stanley’s leading U.S. wealth management platform has over US$2.4 trillion in assets under management and is supported by more than 15,000 financial advisors. We’re excited to expand our wealth management footprint into Canada with a solution that’s tailored to the Canadian market,“ said Laura Adams, Head of Institutional Distribution in Canada and Morgan Stanley Wealth Management Canada.

Morgan Stanley’s wealth management offering in Canada will include full-service Financial Advisors, virtual Financial Advisors, a discount self-directed investing solution and online investment management. Greg Gatesman, Co-Head of International Wealth Management at Morgan Stanley noted, “We are pleased to have Canaccord Genuity as our platform partner, delivering a suite of clearing, custody and wealth management solutions.” Stuart Raftus, President of Wealth Management at Canaccord Genuity in Canada added, “We are pleased to provide Morgan Stanley with a number of customized solutions in support of this new venture. It’s a testament to the breadth and depth of Canaccord Genuity’s capabilities.”

Morgan Stanley (NYSE:MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

Canaccord Genuity Group Inc. (TSX:CF) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. It achieves this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. Canaccord Genuity, the international capital markets division, operates in North America, UK & Europe, Asia, Australia and the Middle East.