Morgan Stanley Taps ‘Specialists’ in Bid for Founders’ Wealth

Morgan Stanley is doubling down on its efforts to manage the wealth of founders, investors and employees of closely held companies, adding a new designation for advisers focused on the space.

The firm is going to label a couple hundred of its 15,000 financial advisers with a “founders specialist designation,” according to Jed Finn, head of Morgan Stanley’s $6 trillion wealth-management business. The advisers will be able offer products and services tailored to the specific needs of clients whose wealth is concentrated in a private company, particularly around liquidity and asset location.

The move reflects a dramatic shift in ...