Morgan Stanley Expands Crypto Access To All Clients, Including Retirement Accounts: Report
Synopsis
According to a CNBC report, crypto investments were thus far restricted to clients with aggressive risk tolerance and at least $1.5 million in assets who opted for taxable brokerage accounts.
Morgan Stanley (MS) is reportedly expanding access to cryptocurrency investments for all clients, allowing such allocations in any account type, including retirement accounts.
According to a CNBC report, citing people familiar with the matter, financial advisors were briefed on the policy change on Friday, with the new rules taking effect on October 15.
Previously, crypto investments were restricted to clients with aggressive risk tolerance and at least $1.5 million in assets who opted for taxable brokerage accounts, the report said. Earlier this month, Morgan Stanley advised capping cryptocurrency allocations at up to 4% in its most aggressive client portfolios.
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