Graystone Consulting is a boutique consulting firm. This means that Graystone Consulting is an elite consulting firm that offers high-value specialized services to high-net-worth businesses.
This business of Morgan Stanley Wealth Management (MSWM) has one straightforward mission: to lead the market in institutional investment advisory services for affluent customers, and its headquarter is located in Potomac, Maryland.
This article explores this highly-rated boutique consulting firm that has generated net revenue of about $24.4 billion for Morgan Stanley.
How they started, how far they have gone, and where they are today. We would also share with you the reviews carefully gathered about the Graystone Consulting firm.
Let’s see whether this big firm is on its way to fulfilling its mission to lead the institutional investment advisory service market.
Table of contents
- What Does Graystone Consulting Do?
- History of the Morgan Stanley Wealth Management (MSWM) Segment
- The Present: How far has Graystone Consulting come?
- The Graystone Consulting Review 2023
- Graystone Consulting Glassdoor Review
- Graystone Consulting Morgan Stanley Handshake Review
- Services Offered by Graystone consulting
- Frequently Asked Questions
- Conclusion
- References
What Does Graystone Consulting Do?
Graystone Consulting traces its origin to the wealth management division of Morgan Stanley. On September 16, 1935, the first Morgan Stanley was established by J.P. Morgan & Co. partners Henry Sturgis Morgan (J.P. Morgan’s grandson), Harold Stanley, and others in response to the Glass-Steagall Act, which mandated the division of American commercial and investment banking businesses.
The company has a 24% market share (about US$1.1 billion) in its first year of operations for public offerings and private placements.
In 1997, the original Morgan Stanley and Dean Witter Discover & Co. merged to form the present Morgan Stanley. Philip J. Purcell, the Chairman and CEO of Dean Witter, was appointed to lead the newly merged “Morgan Stanley Dean Witter Discover & Co.” In 2001, the renamed company adopted the “Morgan Stanley” moniker once more.
The company’s three primary business segments are institutional securities, wealth management, and investment management. The Financial Stability Board views the bank as having systemic importance.
According to total revenue, Morgan Stanley was rated No. 61 on the 2021 Fortune 500 list of the biggest American firms.
In a nutshell, Morgan Stanley is an American global investment bank and financial services firm that advises and originates trades, manages, and distributes funds for institutions, governments, and individuals through its affiliates and subsidiaries.
The company’s three business segment includes the following:
- Institutional Securities
- Wealth Management
- Investment Management.
It is from the second segment that Graystone Consulting stems from. Jeremiah France is Graystone consulting CEO at the time of publishing this article.
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History of the Morgan Stanley Wealth Management (MSWM) Segment
The Global Wealth Management Group and Citi’s Smith Barney merged to establish Morgan Stanley Smith Barney. Citi possessed 49% of the company, and Morgan Stanley retained 51%. Morgan Stanley used its option to buy an additional 14% of the joint venture from Citi on May 31, 2012.
In June 2013, Morgan Stanley announced that it had received all necessary regulatory clearances to complete the acquisition of Citigroup’s remaining 35% holdings in Smith Barney, and it did. Hence Morgan Stanley Smith Barney became Morgan Stanley Wealth Management (MSWM).
With the straightforward goal of setting the industry benchmark for investment consulting services for institutional investors, Graystone Consulting, known initially as Citi Institutional Consulting, became established.
Graystone Consulting is descended from the sister company, Consulting Group, established in 1973 by Citi and is regarded as a pioneer in investment consulting.
This acquisition of Smith Barney is said to have helped strengthen Morgan Stanley’s position as the ultra-wealthy’s go-to investment adviser and improve its clients’ access to hedge funds.
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The Present: How far has Graystone Consulting come?
Graystone Consulting offers strategic investing services to 3,200 institutional clients, including pensions, foundations, endowments, family offices, Taft-Hartley, and 401(k) plans.
According to a spokeswoman, Graystone Consulting owned $457 billion as of the first quarter, an increase of 12% from the previous year.
With over sixty offices spread out around the country, 61 teams, and 258 institutional consultants, Graystone provides close to 3,000 investment ideas. This Morgan Stanley Wealth Management business is also found in 40 countries, not just the U.S.
The Graystone Consulting firms in various locations in the U.S. had also found their way to the 2023 list of America’s Top 100 Institutional Consulting Teams.
Research also shows that a Graystone Consulting Analyst in the United States earns an estimated $87,643 in total payment annually, with an average salary of $76,940.
The expected annual increase in wages is $10,703. Cash bonuses, commissions, tips, and profit sharing are all forms of additional compensation.
You would agree that by these statistics, this institutional consulting firm for the elite, Graystone Consulting, seems to be on its way to achieving its mission. Right?
Let’s hear what others have to say.
The Graystone Consulting Review 2023
There are many client reviews about Graystone Consulting online, but we gathered a few.
In a client’s words, T.E. from Fishtown had this to say.
“This group does the 401k management for my employer and offers additional wealth management advising services. They do an … okay … job. The main issue with this group (or at least the partner in the group that services my employer) is that they don’t stay particularly well-informed about the businesses they service. …
I have no problem with this general approach. Still, their numbers were an order of magnitude different from what I had seen when I did my calculations or had other firms (Fidelity, etc.) do analyses. Finance is not my area of expertise, so I will refrain from directly criticizing their model or methods.
Still, I would caution anyone considering using this group to seek several opinions and have several groups do your financial analysis so you can compare. Check the model’s assumptions and always remember how these firms make Money (usually, they take a portion of assets under management).”
Another review went on and on to point out red flags from the Graystone Consulting office in Tampa. The review article headline reads, “Graystone Consulting Tampa Morgan Stanley – Avoid at all costs!”
Both reviews seem not so good, but we can not conclude about a company from one or two people’s thoughts.
Hence, here is a quick summary of the reviews given by persons that have worked or are working for Graystone Consulting, gathered from other sites.
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Graystone Consulting Glassdoor Review
Glassdoor records a 3.5 rating overall, based on 12 reviews. The gathered feedback on the job suggests the team is competent and skilled, providing the opportunity to work on challenging projects.
Additionally, seasoned experts are available to learn from. However, some individuals have reported a heavy workload and long hours as potential drawbacks.
Graystone Consulting Morgan Stanley Handshake Review
Handshake records a 4.5 out of 5 stars rating based on 5 reviews. They also record that the possibility of working on cutting-edge projects and the opportunity to learn from seasoned experts are positive aspects of working for/with Graystone Consulting firms.
Since the two sites summarized the reviews they got and agreed on this, we can accept it as true.
The Cons recorded were also that the workload might be challenging and income may be less than at other consulting businesses, among other drawbacks.
Based on 12 reviews, it has a rating of 4.9 out of 5 stars. Clients laud the firm’s proficiency in investment counseling, capacity to produce outcomes, and dedication to providing excellent client service.
Reviews of Graystone Consulting are favorable. It is significant to notice that certain reviews bring up lengthy hours and heavy workloads. It is critical to be aware of these cons if you are considering applying for a job at Graystone Consulting; this way, you can make an informed decision.
In case you come across other testimonials for Graystone Consulting, and wish to analyze them, keep the following additional factors in mind:
- The review’s publication date. Older reviews might not apply to the firm’s current situation.
- The reviewer’s position at the company. Reviews from previous workers could be less favorable than reviews from present workers.
- The review’s general tone. Does the reviewer are favorable or unfavorable?
Services Offered by Graystone consulting
If you want to try out Graystone Consulting as a client, here are some services they offer.
#1. Organizational Assessment
Partnership with Graystone Consulting begins with a chat. Your Graystone institutional consultant will thoroughly understand the mission and background of your company, investment goals, asset and liability structure, liquidity needs, time horizon, risk tolerances, and general financial health.
Click here for more information
#2. Investment Policy and Statement Review
Graystone consulting analysts collaborate with you to match the firm’s recommendations and direction with your company’s goals.
After you have identified and understood your goals, they review your investing policy statement to ensure the benchmarks and practices align with your aims.
Click here for more information
#3. Asset Allocation Study
Graystone consulting analysts design your investment plan and use the work of the extremely skilled Morgan Stanley Wealth Management Global Investment Committee to help you create a unique asset allocation customized to your investment limits and risk considerations.
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Frequently Asked Questions
Both records show that wealth management generated pre-tax profits of $6.6 billion on revenues of $24.4 billion for the entire year. In 2022, Morgan Stanley amassed $311 billion in net new assets (NNA), bringing the overall amount of client assets tied to wealth to $4.2 trillion.
The Graystone team, led by Jim Whitney, Michael Sakach, Mary DiChristofano, and Brian Birnbaum, delivers variety and sophistication unmatched by few in private wealth management and a combined total of over 125 years of industry expertise.
Regarding market share for asset management, Morgan Stanley has a higher share than Goldman Sachs. Both companies’ market share increased in 2022 compared to 2021.
Work-life balance and CEO approval were the two categories where Morgan Stanley performed better. Overall Rating, Culture & Values, Diversity and Inclusion, Senior Management, Compensation & Benefits, Career Opportunities, Recommend to a Friend, and Positive Business Outlook were the 8 categories McKinsey & Company scored higher.
Conclusion
Graystone Consulting is a boutique consulting firm committed to giving comprehensive, unbiased investment advice and giving their client the best of both worlds: the personalized attention of a consulting boutique and the resources of a major international financial institution.
They promise institutional consultants with extensive expertise and access to subject matter specialists who will take the time to comprehend you and your business thoroughly, discover creative solutions to your problems, and establish a long-lasting, mutually beneficial partnership.
From the facts about Graystone Consulting gathered and the reviews from past/present employers and clients, do you think this boutique consulting firm lives up to its claim?
References
- Morganstanley.com – Graystone consulting
- Wikipedia.org – Morgan Stanley
- Investopedia.com – How Morgan Stanley make its Money
- Wealthmanagement.com – Graystone Consulting-Cofounder Starts his RIA
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