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." 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.
“It’s just different than traditional wealth management,” Finn said in an interview. “We know there are lots of clients who are single-position hundred-millionaires who want $3 million to buy their family a house and no one will give them a mortgage. We can model it out.”
