Morgan Stanley Smith Barney
is changing up its mutual fund, wrap-program starting in April. The Wall Street Journal reported
Monday morning that the wirehouse will make a shift to institutional share classes in most of its programs at that date.
The paper did not detail which programs would make the shift, though it noted that not all of the MSSB programs will offer institutional shares. It quotes spokesperson James Wiggins as confirming the shift.
The move comes as the recently merged brokerage continues to sift through the legacy Morgan Stanley and Smith Barney platforms.
The shift to institutional shares is part of a reported strategy to offer a simplified fee structure for fee-based accounts.
Sean Hanna, Editor in Chief
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