Speaker 0: Morgan Stanley set a firm record for net new assets in the first quarter of 2023 bringing in $105 billion in Q one, which is a 43% rise from the prior quarter and a 183% increase from the year prior. The firm also recorded record highs for fee based asset flows for the quarter which came out to $37.2 billion an increase of 54% from the prior quarter and up 102% from March 2020

Speaker 0: in its quarterly update, the warehouse reported $4.2 trillion in wealth management assets and $1.4 trillion in its investment management arm Morgan Stanley's CEO James Gorman stated he wants to see the firm grow to have $10 trillion of money under management which is nearly double the $5.6 trillion. It just announced Morgan Stanley's wealth management business started in 2009 with $500 billion when the firm bought Smith Barney's wealth management business.