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Morgan Stanley Looks to Savings Accounts to Boost Profits

Morgan Stanley, better known for underwriting bonds than for retail banking, plans to offer savings accounts and certificates of deposits next year to wring more profit from its wealth management clients, executives told Reuters. The bank has offered checking accounts and credit cards for years, but it is launching more consumer banking products and giving brokers bonuses if clients use them. The goal is to win more of the assets that customers keep at rivals such as JPMorgan Chase...

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