CEO Ted Pick targets $10 trillion in wealth assets alone, shifting focus from prior combined $10 trillion wealth and investment goal.
Morgan Stanley CEO Ted Pick has outlined a new target for the firm’s wealth management division to reach $10 trillion in client assets independently. The revised ambition shifts from a prior goal set by former CEO James Gorman, which included both wealth and investment management divisions sharing the load to hit $10 trillion together.
The firm currently oversees approximately $9 trillion in combined client assets across wealth and investment management. Pick cited a client acquisition framework, including self-directed, workplace, and advisor-led channels, as a key driver for growth. The strategy also includes expanding into private securities within advisory models.
Pick’s comments followed the firm’s Q1 2026 earnings call, where he highlighted progress toward the standalone wealth target. The goal reflects confidence in scaling the division’s existing $7 trillion asset base.