Morgan Stanley Taps BlackRock to Help Lure $2 Trillion of Assets

Bloomberg Opinion’s Brooke Sutherland reports on Morgan Stanley and Goldman Sachs using new technology.(Source: Bloomberg)

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By Sonali Basak

May 29, 2018 at 4:54 PM UTC

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Morgan Stanley’s $2.4 trillion wealth-management unit has turned to BlackRock Inc. for an edge in technology as it seeks to get its clients to move all their assets to the bank.

The firm has been working for two years to integrate Aladdin, BlackRock’s risk-management system, into its platforms, according to Andy Saperstein, co-head of Morgan Stanley’s wealth-management unit. The technology can identify assets that are outliers based on an owner’s risk appetite and show clients “risks that they didn’t even know where they were taking,” he said.