Morgan Stanley

Morgan Stanley Smith Barney Account Statement Ranks #1 for Second Consecutive Year

Jan 31, 2012

DALBAR Rates Statement Tops in Clarity, Presentation and Usefulness for Clients

New York —


For the second year in a row, Morgan Stanley Smith Barney’s client account statement has been ranked #1 by DALBAR, a leading market research firm in financial services.

Ranked against 13 competitors, the account statement was rated best overall in an analysis that considered such factors as understandability, primary and secondary content, and design format.

“Morgan Stanley Smith Barney understands that the investment in a top quality client statement can be an important factor in maintaining client trust – particularly in a volatile environment, when a clear and complete presentation of monthly account activity is all the more important,” said Kathleen Whalen, Managing Director at DALBAR.

“We are delighted to be recognized again for our work in creating a superior client account statement.  Client expectations are constantly rising, and we made a number of statement enhancements in 2011 that helped keep us on top,” said Andy Saperstein, Head of Wealth Management, U.S., for Morgan Stanley Smith Barney. 

Among the 2011 statement enhancements

  • A new cash flow summary presentation aligned with client preferences for viewing their flows of funds.  
  • Moved to a “trade date” presentation of activity, so all security transactions appear on the statement in the month they were executed.  This also synchronizes statements with performance and gain/loss reporting.
  • Made substantive changes to better support products, including:
  •     Expanded detail and enhanced presentation for annuities.
  •     A new section for Alternative Investments, with sub-sections for hedge funds, managed futures, private equity and real estate.

The Morgan Stanley Smith Barney statement scored 90.95 out of a possible 100 – the first time any firm broke into the 90s.  Other firms ranked were Charles Schwab, Edward Jones, Fidelity, Janney Montgomery Scott, LPL, Merrill Lynch, National Financial, Pershing,  Raymond James, RW Baird, UBS, and Wells Fargo.

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service.  Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.

Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services. For further information about Morgan Stanley Smith Barney, please visit

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries.  For further information about Morgan Stanley, please visit

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