Morgan Stanley Wealth Management has launched a health advisory referral arrangement with PinnacleCare, with the aim of expanding the value that financial advisors can offer clients by incorporating access to the management of health issues into wealth planning discussions.
This holistic wealth management approach can give clients the tools to make more informed decisions about all aspects of their financial life with a focus on managing healthcare complexity for the best possible outcome and well-being of their families, according to Morgan Stanley.
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"Health care and its related costs are top concerns for many of our clients," said Deanna Rodriguez, executive director, Lifestyle Advisory Services at Morgan Stanley Wealth Management. "We are pleased to offer our clients access to solutions that can help them take into consideration the management of health issues and their potential costs, while working with them on their overall wealth management strategy."
A recent national poll by Morgan Stanley showed that affording quality healthcare worries even millionaire households, with 68% citing it as a concern.
"Healthcare is a silent concern for many of our clients until it becomes a real issue in their lives and the lives of family members. Financial advisors who can discuss such healthcare concerns with clients and offer access to real solutions offer a truly differentiated advisory service," said Robert Seaberg, managing director of Wealth Advisory Solutions at Morgan Stanley.
Key benefits through PinnacleCare include: facilitated and coordinated access to top medical institutions and resources; vetted physician referrals, including board certified internists, specialists and integrative practitioners; and consultations on private health insurance and Medicare enrollment. Most recently, through this alliance with PinnacleCare, Morgan Stanley Wealth Management extended to clients a new Eldercare option for a geriatric assessment and coordination of associated medical needs and insurance claims.
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By GlobalData"Health-related decisions are becoming more complex, and we are seeing a convergence in health/wealth planning as concerns over costs escalate," said Bruce Spector, chairman and founder of PinnacleCare. "Our referral arrangement with Morgan Stanley provides an objective and unbiased approach for securing continued access to high quality care."
