Morgan Stanley Smith Barney: AUM & Ownership

Clients

Morgan Stanley Smith Barney serves 2,703,720 clients, 2,600,707 of them other individuals. The average client has about $726,000 with the firm, and high-net-worth clients hold 27% of its $1961.9 billion in assets.

Regulatory assets by client type

Individuals2,600,707 clients63%
High-net-worth individuals43,631 clients27%
Pension and profit-sharing plans10,466 clients4%
Charitable organizations39,751 clients4%
OtherBanking or thrift institutions, Investment companies, State or municipal government entities, Insurance companies, Corporations and other businesses, Other2%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	2,600,707	$1,245,388,422,212	63.5%	$479K
High-net-worth individuals	43,631	$527,589,564,614	26.9%	$12.1M
Banking or thrift institutions	4,257	$6,389,373,258	0.3%	$1.50M
Investment companies	4	$263,737,897	0.0%	$65.9M
Pension and profit-sharing plans	10,466	$74,862,543,476	3.8%	$7.15M
Charitable organizations	39,751	$79,476,184,372	4.1%	$2.00M
State or municipal government entities	1,423	$8,108,465,859	0.4%	$5.70M
Insurance companies	1,387	$5,876,245,823	0.3%	$4.24M
Corporations and other businesses	1,982	$13,874,367,326	0.7%	$7.00M
Other	112	$58,408,392	0.0%	$522K
Total	2,703,720	$1,961,887,313,229	100%	$726K

Individuals (other than HNW)

Clients: 2,600,707
Regulatory AUM: $1,245,388,422,212
Share: 63.5%
Avg. per client: $479K

High-net-worth individuals

Clients: 43,631
Regulatory AUM: $527,589,564,614
Share: 26.9%
Avg. per client: $12.1M

Banking or thrift institutions

Clients: 4,257
Regulatory AUM: $6,389,373,258
Share: 0.3%
Avg. per client: $1.50M

Investment companies

Clients: 4
Regulatory AUM: $263,737,897
Share: 0.0%
Avg. per client: $65.9M

Pension and profit-sharing plans

Clients: 10,466
Regulatory AUM: $74,862,543,476
Share: 3.8%
Avg. per client: $7.15M

Charitable organizations

Clients: 39,751
Regulatory AUM: $79,476,184,372
Share: 4.1%
Avg. per client: $2.00M

State or municipal government entities

Clients: 1,423
Regulatory AUM: $8,108,465,859
Share: 0.4%
Avg. per client: $5.70M

Insurance companies

Clients: 1,387
Regulatory AUM: $5,876,245,823
Share: 0.3%
Avg. per client: $4.24M

Corporations and other businesses

Clients: 1,982
Regulatory AUM: $13,874,367,326
Share: 0.7%
Avg. per client: $7.00M

Other

Clients: 112
Regulatory AUM: $58,408,392
Share: 0.0%
Avg. per client: $522K

Total

Clients: 2,703,720
Regulatory AUM: $1,961,887,313,229
Share: 100%
Avg. per client: $726K

What it does

Morgan Stanley Smith Barney provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, pension consulting, selecting other managers, educational seminars and other activities. It is paid through a percentage of assets, fixed fees, commissions, performance-based fees and other arrangements.

Morgan Stanley Smith Barney provided financial planning to 213,500 clients last fiscal year and advises no private funds.

73.1% of assets ($1434.51B across 2,159,438 accounts) are managed with discretion; $527.37B across 544,282 accounts are not. $1961.89B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 416,984 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks58%
Funds29%
- Registered funds25%
- Pooled vehicles4%
Bonds8%
- Investment grade corporate bonds4%
- U.S. government and agency bonds2%
- State and local bonds2%
Cash4%
Other1%
- Structured investments and annuities1%

Custodians

Morgan Stanley Smith Barney’s client accounts are held mainly at Morgan Stanley, with 88% of managed assets. Morgan Stanley Smith Barney has custody of $2010.23B for 2,866,692 clients.

Managed account assets by custodian

Morgan StanleyMorgan Stanley Smith Barney LLC · Purchase, NY · $1734.00B88%
All other custodians$227.89B12%

Ownership and leadership

Morgan Stanley Capital Management, LLC owns 75% or more of Morgan Stanley Smith Barney, and Jed Finn is its CEO.

Who owns the firm

Morgan Stanley Smith Barney LLC· the adviser

Morgan Stanley Capital Management, LLC
Control person · since August 2023
Owns 75% or more of Morgan Stanley Smith Barney LLC
- Morgan Stanley
  Control person · since October 2002
  Owns 75% or more of Morgan Stanley Capital Management, LLC

Leadership

Jed Finn
Director, Chairman, President and Chief Executive Officer
John William Crowe
Chief Financial Officer
William Benjamin Givens
Chief Compliance Officer (BD Only)
Timothy Gerard Hansen
Chief Compliance Officer (ia Only )
Patricia Kay Fletcher
Texas Designated Principal
David Anthony Galasso
Principal Operations Officer
Michael S Hennessy
Director
James Troy Janover
Director
Vincent John Lumia
Director
Chad Edward Turner
Director

Staff

29,481 employees
13,000 in advisory functions
23,077 state-registered reps
26,985 broker-dealer reps
13,305 insurance agents
406 soliciting firms

Fees

Morgan Stanley Smith Barney is paid through a percentage of assets under management, fixed fees (other than subscription fees), commissions, performance-based fees and other.

Morgan Stanley Smith Barney’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Morgan Stanley Smith Barney has 627 offices, with 26 listed addresses across 9 states.

Listed office addresses by state

New York · 8 listed addresses

2000 Westchester Avenue, PurchaseHQ
399 Park Avenue, New York
1200 Franklin Avenue, Garden City
2000 Westchester Avenue, Purchase
55 East 52nd Street, New York
1585 Broadway, New York
55 East 52nd ST., New York
55 East 52nd Street, New York

Other business names

Morgan Stanley Smith Barney has reported 7 other business names to the SEC.

Consulting Group
Graystone Consulting
Morgan Stanley
Morgan Stanley Consulting Group
Morgan Stanley Private Wealth Management
Morgan Stanley Smith Barney
Morgan Stanley Wealth Management

Registration details

Legal name: Morgan Stanley Smith Barney LLC
Headquarters: 2000 Westchester Avenue, Purchase, NY 10577-2530
Phone: 914-225-5510
Website: www.morganstanley.com
SEC file: 801-70103
Structure: Delaware LLC
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Morgan Stanley Smith Barney have?

Morgan Stanley Smith Barney has 2,703,720 clients and manages $1961.9 billion for them, as of September 2026. They include 2,600,707 other individuals, 43,631 high-net-worth individuals and 39,751 charitable organizations.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 September 2026

What services does Morgan Stanley Smith Barney offer?

Morgan Stanley Smith Barney provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, pension consulting, selecting other managers, educational seminars and other activities.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Morgan Stanley Smith Barney use?

Morgan Stanley Smith Barney’s separately managed account assets are held at Morgan Stanley Smith Barney LLC (Purchase, NY), with $1,733,996,722,410. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 September 2026

How many financial advisors does Morgan Stanley Smith Barney have?

Morgan Stanley Smith Barney has 23,077 investment adviser representatives registered with state securities authorities, out of 29,481 employees, and 13,000 perform investment advisory functions. 26,985 are registered representatives of a broker-dealer and 13,305 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Morgan Stanley Smith Barney invest in?

At the end of its last fiscal year, Morgan Stanley Smith Barney’s separately managed accounts held 58% exchange-traded equities, 25% registered funds (mutual funds, ETFs, BDCs), 4% investment grade corporate bonds, 4% pooled vehicles (private funds and similar), 4% cash and equivalents, 2% U.S. government and agency bonds, 2% state and local bonds and 1% structured investments and annuities. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Morgan Stanley Smith Barney?

Morgan Stanley Smith Barney is owned through a holding company by Morgan Stanley. Its direct owner is Morgan Stanley Capital Management, LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 28 September 2026

How does Morgan Stanley Smith Barney get paid?

Morgan Stanley Smith Barney is paid through a percentage of assets under management, fixed fees, commissions, performance-based fees and other arrangements.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file