Morgan Stanley

Morgan Stanley Q3 2026: Equity trading surge and Wealth Management asset growth drive $20.3B quarter, up 12% YoY

Morgan Stanley's Q3 2026 net revenues of $20.3 billion rose 12% versus the prior year quarter, powered by a 41% surge in Institutional Securities Equity revenues to $5.8 billion and 16% growth in Wealth Management asset management fees to $5.5 billion. The YTD picture is stronger still — $62.3 billion in nine-month revenues, up 18% — with Advisory revenues up 52% YTD and ROTCE of 25.4%, well above the firm's 20% stated goal. Investment Management is the sole drag, posting a $106 million performance-based income loss in Q3 on carried interest reversals in a private fund.

Global financial services firm operating across Institutional Securities, Wealth Management, and Investment Management segments, serving corporations, governments, financial institutions, and individuals.

Primary products

• Investment Banking (M&A Advisory, ECM, DCM)
• Equity and Fixed Income sales and trading
• Prime brokerage and financing
• Wealth management and financial advisory
• Asset management
• Securities-based lending