Wealth divisions at major financial institutions, including Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, have reported year-over-year revenue growth for third quarter 2026. Higher fees and alternative investments are supporting strong revenues across the wealth management industry, despite continued market volatility.
Goldman Sachs’ asset and wealth management division saw an increase of 14 percent in revenue, totaling more than $5 billion, year-over-year. Alternative investment assets under supervision reached $491 billion.
Morgan Stanley reported overall net revenues of $20.3 billion as of Sept. 30, 2026, compared with $18.2 billion at the same time last year. Its wealth management division recorded $232 billion in net new assets, an increase of 187 percent from, year-over-year.
Bank of America’s global wealth management unit, including Merrill Lynch, reported $7.1 billion in revenue, up 13 percent year-over-year. The firm attributed th
