In the late 1980s, the retail brokerage firm Smith Barney was owned by Sanford I. Smith Barney Shearson logo following the purchase of the brokerage business of Shearson Lehman Hutton from American Express They earn it." After Houseman stepped down, the campaign continued with various actors, such as Leo McKern, Joel Higgins and George C. During the 1980s, the company was known for its television commercials featuring actor John Houseman, with the catchphrase, "They make money the old-fashioned way. In 1982, SBHU Holdings was renamed Smith Barney Inc.
to form Smith Barney, Harris Upham & Co., which, in 1977, was placed under SBHU Holdings, a holding company. In 1975, Smith Barney merged with Harris, Upham & Co. Smith & Co., founded in 1892 became a significant player in securities underwriting in 1934 when the firm absorbed the professionals from the securities business of Guaranty Trust Company, following the passage of the Glass Steagall Act. Barney in 1873 following the failure of its predecessor Jay Cooke & Company. Barney & Co., a New York and Philadelphia based firm, was founded by Charles D. was formed in 1938 through the merger of Charles D. The broker-dealer designation for Morgan Stanley Wealth Management will remain "Morgan Stanley Smith Barney LLC". wealth management business was renamed "Morgan Stanley Wealth Management". On September 25, 2012, Morgan Stanley announced that its U.S. Clients range from individual investors to small- and mid-sized businesses, as well as large corporations, non-profit organizations and family foundations. The combined brokerage house has 17,646 financial advisors and manages $2 trillion in client assets.
On January 13, 2009, Morgan Stanley and Citigroup announced that Citigroup would sell 51% of Smith Barney to Morgan Stanley, creating Morgan Stanley Smith Barney, which was formerly a division of Citi Global Wealth Management. It is the wealth & asset management division of Morgan Stanley. Morgan Stanley Wealth Management is an American multinational financial services corporation specializing in retail brokerage.
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