Morgan Stanley at Work acquires executive benefits firm

Morgan Stanley at Work, the wirehouse’s workplace solutions provider, has acquired American Financial Systems, a Waltham, Massachusetts-based firm that specializes in nonqualified executive benefit plans.

The acquisition is expected to close in the fall; the terms were not disclosed.

Adding American Financial Systems’ expertise in executive benefit plans to the financial giant’s already diverse offering “creates a powerful value proposition for plan sponsors and their participants,” Morgan Stanley said in a release.

[More: Morgan Stanley lays out plans to enter the ETF market]

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