Morgan Stanley Smith Barney (MS) aims to come out swinging when it comes to high-net worth individuals, defined as those with $20 million or more. The Private Wealth Management unit has 500 advisors globally now but would like to boost that to 700 over the next few years via acquisitions and organic growth, according to Reuters.

Morgan Stanley's Private Wealth Management was boosted by Smith Barney's Citi Family Office this year and would appear to be positioned well. Of course the Thundering Herd will be in the same ball game, as will Goldman Sachs (GS). One would think that the ranks of the high net worth would have dwindled in this recession. Some firms may lower their client threshold. 

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