Wells Fargo, Morgan Stanley See Q2 Earnings Gains

Large financial firms are reporting strong growth for the second quarter of 2026. Wells Fargo and Morgan Stanley both recorded significant gains in wealth management revenue as market conditions and strategic shifts drive performance.

Wells Fargo reported $3.8 billion in revenue from its wealth and investment division. This figure marks a 13 percent increase from the same period last year. Company leadership noted that advisor recruiting remains strong, with record-low attrition levels across the firm. While the bank seeks further operational efficiencies, it continues to prioritize the growth of its advisory teams.

Morgan Stanley saw its wealth division revenue climb to $8.9 billion. A major driver for this success is the influx of assets from stock market IPOs. Clients involved in recent offerings, such as the SpaceX debut, have moved significant funds into the firm to manage their new capital. Net interest income also rose due to higher deposit balances and lending growth.

Other industry players are tracking similar trends. Both Goldman Sachs and JPMorgan Chase reported higher year-over-year revenue in their wealth units. JPMorgan reported $6.9 billion in revenue, with total client assets rising to $7.7 trillion. These results highlight a period of sustained activity across the wirehouse and private banking sectors.