Morgan Stanley Beefs Up Portfolio Offering

Morgan Stanley’s Consulting Services Group has added to its Custom Portfolio offering to more than 1,400 open-end mutual funds.
Financial advisers may now use stocks, bonds, exchange-traded funds and mutual funds to construct diversified, comprehensive portfolios, a Morgan Stanley news release asserted.

Custom Portfolio is designed for clients who want a financial adviser to act as portfolio manager. Clients pay a single asset-based fee instead of commissions.

Morgan Stanley said it plans to increase the number of mutual funds in the six-year-old Custom Portfolio program and will continue to train more advisers throughout 2007. Advisers must qualify to be part of the program, the firm said.

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