Morgan Stanley Smith Barney, which has 18,087 financial advisors, tapped managing director James F. Walker to head its consulting services, which provides investment consulting and managed-account services.
Walker, 47, succeeds James J. Tracy, who is now COO of distribution and development for wealth management in the United States.
Morgan Stanley says that its consulting-services group has more than $385 billion in client assets and a market share of more than 20 percent for managed accounts. The company says that, according to Cerulli Associates, it is the top firm in several of managed-account categories, including unified managed accounts (with a 34 percent market share).
Walker previously worked as director of finance, risk and strategy for Citi Global Wealth Management Investments and spent 20-plus years with Merrill Lynch’s global wealth management group.
For its institutional clients, Morgan Stanley recently made available a Morgan Stanley Research App for the iPad and iPhone. It lets these clients view global research on 2,600-plus stocks, fixed-income information, currency news and more from these mobile