Morgan Stanley Review

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Smith Barney Wealth Management commission schedule: annual, termination fees,
advisory rates and other account charges.

  • Stocks: $9.99 for up to 1,000 shares. Additional $0.02 for each share over 1,000.
  • Mutual Funds: $24.95.

Minimum to open: A minimum deposit of $500 is required to open an account.

Morgan Stanley Smith Barney fees and commissions are either transaction-based commissions or asset-based fees. The commission schedule including other full-service broker fees and charge depend on the type of broker-investor relationship.

 

Morgan Stanley Choice Trade Account Fees and Commissions

If you are a moderate or active trader, you should consider enrolling in Choice Select — a pricing alternative for brokerage accounts. Choice Select is a different way to pay commissions on equity and option trades. In a Morgan Stanley brokerage account, investors generally compensate Morgan Stanley and his/her Financial Advisor through fees incurred with each transaction. Equity trades will cost the client anywhere from $50 - $95 depending upon lot size. A total costs will generally increase or decrease as a result of the frequency of transactions in the account and the type of securities were purchased. Other cost will also apply to the accounts.

For Morgan Stanley Choice Select members, the commission schedule is based on the total annual principal volume of eligible equities and options trades. The more investors trade, the lower their marginal commission rate.

 

Morgan Stanley Choice Select Commission Schedule

Cumulative PrincipalFee
$0 - $199,9992.25%
$200,000 - $299,9992.15%
$300,000 - $399,9992.05%
$400,000 - $499,9991.85%
$500,000 - $599,9991.75%
$600,000 - $699,9991.65%
$700,000 - $799,9991.55%
$800,000 - $899,9991.45%
$900,000 - $999,9991.35%
$1,000.000 - $199,9991.00%
$2,000,000 - $3,999,9990.85%
$4,000,000 +0.60%

 

Morgan Stanley Choice Trade Account Fees and Commissions

Variable Rate Revolving Line of CreditFixed Rate LoansStandby Letter of Credit
Minimum Draw1No draw is required. $100 minimum disbursementInitial draw must be made by wire transfer. $100,000 minimum draw.Minimum issuance amount is $100,000. No minimum draw
origination Maintenance FeesNoneNoneIssuance fee: 1.5% for $100,000 - $1,000,000; 1.0% for greater than $1,000,000
Index rateSpread based on daily 30-day LIBORSpread based on LIBOR swap rate matching the duration of the rate lockN/A
DurationOn demand6-months, 1-, 2-, 3-, 4-, 5-, 7-year interest rated lockN/A
Minimum Periodic PaymentsNonePeriodic payments: Amortizing Fixed Rate Loans with monthly, quarterly, or semi-annual optionsN/A
Access to FundsPLA check or wire transferWire transferN/A

1 - The requirements under Regulation Z include a minimum firm commitment at closing of $100,000 for individuals and trusts and the minimum threshold for Regulation Z under the life of the loan.

Portfolio Loan Account: Key Features

  • Minimum facility: $100,000
  • Initial draw for fixed rate loan $1000,000 by wire
  • Minimum draw: $100 on the variable line of credit, made by check or wire transfer
  • {proceeds used for just about any business or personal use, other than to purchase securities it repay margin debt.

 

Morgan Stanley Investment Advisory Programs Fees and Commissions

In Morgan Stanley investment advisory programs, investors pay an annual fee, charged quarterly in advance, based on the total value of the assets in accounts at the end of the previous quarter. In addition to a personal investment account, advisory service can be established for retirement or trust accounts. Asset minimums starts as low as $10,000.

 

Morgan Stanley Wealth Management Account And Service Fees

Account or ServiceStandard FeeFrequency

Morgan Stanley Account Fees

Individual Active Assets Account (AAA)– Account Fee$150Annual
Business Active Assets Account (BAAA)–Account Fee$150Annual
Custodial Active Assets Account – Account Fee$100Annual
Individual Basic Securities Account (BSA)– Account Fee$95 ($50 for accounts in the CACAnnual
Business Basic Securities Account (BBSA) – Account Fee$95 ($50 for accounts in the CACAnnual
Individual Retirement Account (IRA) (Traditional, Roth, Roll - over, Inherited, SEP, SIMPLE and SAR-SEP) – Account Fee$75 (CAC accounts: $50, waived with a minimum annual contribution, rollover or direct transfer of $2,00Annual
Business Retirement VIP Basic – Account Fee$60 per accountAnnual
Business Retirement VIP Basic – Plan Document Fee$150 per planAnnual
Business Retirement VIP Plus – Account Fee $50 per accountAnnual
Business Retirement VIP Plus – Plan Document Fee$150 per planAnnual
Business Retirement RPM – Account Fee$50 per accountAnnual
529 College Savings Plan – Account FeeNone imposed by Morgan Stanley Smith Barney LLC; some externally managed plans impose an Annual Account Fee; fee varies by plan (typically $10 – $30)Annual
Coverdell Education Savings Account (ESA) – Account Fee$50Annual
Duplicate Statements and Duplicate Confirmation$5Per Statement/Confirmation
Low Balance Household Fee$50 per quarter for households with less than $25,000 (Waived for CAC households with one or more managed accountsPer Quarter

 

Morgan Stanley Account Transfers and Termination Fees

Account or ServiceStandard FeeFrequency
Individual Retirement Account (IRA) (Traditional, Roth, Rollover, Inherited, SEP, SIMPLE and SAR-SEP) Termination Fee$95Per Account Termination
Business Retirement VIP Basic Termination Fee$50Per Account Termination
Business Retirement VIP Plus Termination Fee$50Per Account Termination
Business Retirement RPM Termination Fee$50Per Account Termination
529 College Savings Plan Termination FeeWaivedn/a
Coverdell Education Savings Account (ESA)Termination Fee$95Per Account Termination
Account Transfer Fee$95Per Account Termination


Morgan Stanley Cash Management Fees

Account or ServiceStandard FeeFrequency
Check Client Requested Disbursement (Overnight) AAA, BAAA, BSA, BBSA$25Per Check
Checks – Checkbook Orders, AAA/Retirement Accounts1. Wallet Check Orders – Waived
2. Other Reorders – $20 and up, depending on style and quantity
Per Checkbook Order
Debit CardNo annual fee. A 2% foreign transaction fee is charged on transactions made with the Debit Card outside of the United States (includes ATM withdrawalsPer Transaction
Debit Card – Automated Teller Machine (“ATM”) WithdrawalUp to $200 per calendar year in US ATM fee rebates (maximum rebate of $4.99 per transaction)Per Transaction
Expedited Payment Fee for Morgan Stanley Online Bill Pay (Same Day/Next Business Day, Receipt of Payment$15Per Transaction
Express Orders for Checks and/or Debit Card (Via Overnight Delivery – US addresses only)$25 for Checks/$25 for Debit CarPer Delivery
Insufficient Funds (Over Limit) Paid Item: Includes Check/ACH, Automatic Debits, Online Bill Payments$25Per Transaction
Insufficient Funds, Returned Items: Includes Check/ACH, Automatic Debits, Online Bill Payments$25Per Transaction
Insufficient Funds, Rejected Transfer$25Per Transaction
Morgan Stanley Credit Card from American Express$0Annual
Platinum Card® from American Express exclusively for Morgan Stanley – Annual Fee paid to American Express$450Annual
Remote Deposit Service BAA – Service Fee$50 (includes first 100 checksMonthly
Remote Deposit Service BAAA – Deposit Fee$1Per Deposit
Remote Deposit Service BAAA – Additional Check Fee$0.10 (100-500 checks) $0.08 (501-1,500 checks) $0.07 (1,501+ checks) Per Check
Returned Check Deposit$25Per Transaction
Stop Payment$25Per Transaction
Wire Transfer (Non-USD) – Outgoing$50Per Wire Transfer
Wire Transfer (USD) – Outgoing$25Per Wire Transfer


Morgan Stanley Investment Specific/Security Holdings Fees

Account or ServiceStandard FeeFrequency
Cash Account Prepayment$25 or highest margin interest rate on payment amount beginning the day of prepaymentPer Event
Dividend Reinvestment for Basic Securities Accounts. Waived for Active Assets Accounts, IRAs and Investment Advisory AccountsI. Dividends $10 – $100 = 5.3%. II. Dividends $100.01 – $500 = $5.30 or 2.7%, whichever is greater III. Dividends greater than $500 = $13.50 or 2%, whichever is greaterPer Dividend Reinvestment
GlobalCurrency Negative Rate Maintenance FeeVariesMonthly
Late Payment$25 or highest rate on margin schedule, whichever is greaterPer Event
Legal Transfer – Estate Processing$25 Additional fees charged by transfer agents may applyPer Event
Non-Traditional InvestmentI. $500 (nonrefundable) review fee per investment II. $250 annual fee per investment; maximum of $500 per accountPer Investment
Processing Fee ($6 if enrolled in e-delivery)$6.50Per Transaction
Returned Stock Certificate (Reorg)Waivedn/a
Stock Certificates – Private Name Change/Transfer RequestWaivedn/a

Morgan Stanley Investment Specific/Security Holdings Fees (Third Party)

ADR Custody Fee/Depository Service FeeVariesPer Event
ADR Dividend Payment FeeVariesPer Dividend Payment
ADR Termination FeeVariesPer Termination
Foreign Ordinary Shares. Fee is waived when the trade is valued over $15,000 and when purchasing foreign American Depository Receipts (“ADRs”)$50 fee for principal purchases less than $15,00Per Transaction
Limited Partnerships – Reregistration FeePass-through of registration agent feePer Event
Physical Certificate Collection (Reorg) Fee$25Per Transaction
Short Term Mutual Fund Redemption FeeVariesPer Event
Subscription Refund FeeVariesPer Event
Supplemental Transaction Fee (may be applied to the sale of certain securities)Variable, minimum $0.01Per Transaction
Voluntary Reorganization Fee$25Per Event
529 College Savings Plan – Program Management FeeNone imposed by Morgan Stanley Smith Barney LLC; some externally managed plans impose a Program Management Fee; fee varies by plan (typically 0.10 – 0.50% on assets)Per Plan
529 College Savings Plan – Other FeeNone imposed by Morgan Stanley Smith Barney LLC; some externally managed plans impose other fees, such as underlying fund operating expenses, Administrative and/or State Fees, Distribution Fees; fees vary by planPer Event

Fees are subject to change. Fees listed here exclude managed Commissions. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) reserves the right, in its sole discretion, to elect to discount or waive.

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