Business Segments · Non-compensation expenses
Wealth Management1 — Non-compensation expenses
Morgan Stanley Wealth Management1 — Non-compensation expenses decreased by 8.6% to $1.27B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 4.4%, from $1.33B to $1.27B. Over 4 years (FY 2021 to FY 2025), Wealth Management1 — Non-compensation expenses shows an upward trend with a 2.4% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2019
Last reportedQ1 2026
How to read this metric
Lower expenses relative to revenue indicate better operational leverage and efficiency.
Detailed definition
This encompasses all operating costs for the Wealth Management segment excluding personnel, such as technology, occupanc...
Peer comparison
Reported as 'Non-interest Expense' or 'Operating Expenses' excluding compensation by peer banks.
Metric ID:
ms_segment_wm_non_compensation_expensesHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.18B | $1.25B | $1.34B | $1.22B | $1.30B | $1.29B | $1.42B | $1.33B | $1.41B | $1.30B | $1.60B | $1.29B | $1.35B | $1.33B | $1.44B | $1.33B | $1.39B | $1.35B | $1.39B | $1.27B |
| QoQ Change | — | +5.5% | +7.5% | -8.7% | +6.3% | -0.9% | +9.9% | -6.5% | +6.6% | -7.8% | +22.6% | -18.9% | +4.2% | -1.3% | +8.0% | -7.3% | +4.2% | -3.0% | +3.4% | -8.6% |
| YoY Change | — | — | — | — | +10.2% | +3.5% | +5.7% | +8.3% | +8.5% | +1.0% | +12.6% | -2.3% | -4.5% | +2.2% | -9.9% | +3.0% | +3.0% | +1.3% | -3.1% | -4.4% |
Range$1.18B – $1.60B
CAGR+1.6%
Avg YoY Growth+2.2%
Median YoY Growth+2.6%
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Frequently Asked Questions
- What is Morgan Stanley's wealth management1 — non-compensation expenses?
- Morgan Stanley (MS) reported wealth management1 — non-compensation expenses of $1.27B in Q1 2026.
- How has Morgan Stanley's wealth management1 — non-compensation expenses changed year-over-year?
- Morgan Stanley's wealth management1 — non-compensation expenses decreased by 4.4% year-over-year, from $1.33B to $1.27B.
- What is the long-term trend for Morgan Stanley's wealth management1 — non-compensation expenses?
- Over 4 years (2021 to 2025), Morgan Stanley's wealth management1 — non-compensation expenses has grown at a 2.4% compound annual growth rate (CAGR), from $4.96B to $5.46B.
- What does wealth management1 — non-compensation expenses mean?
- Operating costs excluding employee pay, such as technology, rent, and administrative fees.