Morgan Stanley Raises Rates on Cash. It’s a Sign of Pressure Across Industry.

For years, investors’ uninvested currency has been a lucrative gross root for the wealthiness absorption industry. Companies person been paying customers paltry involvement connected that currency adjacent arsenic rates wide soared implicit the past 2 years, allowing firms to gain overmuch higher yields than they paid retired to their clients successful galore cases. Now, that’s opening to change.

Morgan Stanley volition rise rates connected immoderate customers’ uninvested currency successful advisory accounts, a spokeswoman confirmed Wednesday. Effective Aug. 1, clients with $250,000 oregon more...

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