Morgan Stanley to Buy Deferred Comp Plan Provider

Morgan Stanley at Work, the firm’s unit that provides workplace financial solutions, says it’s set to acquire deferred compensation plan provider American Financial Systems. Founded in 1986, AFS offers supplemental executive benefit plan solutions and services to companies of all sizes, according to Morgan Stanley. The plans are designed to supplement retirement savings on a tax-deferred basis, the company says. AFS’ services include plan design consulting, plan implementation, online enrollment, funding analysis and optimization, client management, and plan recordkeeping, according to Morgan Stanley. The addition of AFS is aimed at complementing existing services at Morgan Stanley at Work, which includes equity compensation through Shareworks and employee stock plan solutions offered by E*Trade — which Morgan Stanley acquired in 2020 — as well as retirement and financial wellness solutions, Morgan Stanley says. Morgan Stanley didn’t disclose the financial terms of the deal, which is expected to close in the fall.