Morgan Stanley Vs. JPMorgan: Which Big Bank Is the Better Buy This Year

1 hour ago 1

Alex Sirois

Thu, July 2, 2026 astatine 11:25 AM CDT 3 min read

Quick Read

Morgan Stanley's $8.52B successful sticky wealthiness fees and 27.1% ROTCE marque MS a much antiaircraft income stake than JPM's cyclical recognition exposure.
JPMorgan's paper charge-off complaint deed 3.46% and nonperforming vulnerability roseate 11% to $11 billion, investigating whether Dimon's resilient user communicative survives year-end.
Morgan Stanley targets $10 trillion successful lawsuit assets, and shares already up 52% implicit the past twelvemonth bespeak however durably its wealthiness interest flywheel compounds.
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Morgan Stanley (NYSE:MS) and JPMorgan Chase (NYSE:JPM) some posted Q1 2026 results that showcased strength, yet the businesses down those numbers look thing alike. Morgan Stanley leaned connected advisory fees and wealthiness flows. JPMorgan flexed a universal-bank motor touching cards, payments, and trading. Each firm's halfway gross motor present sits successful a distinctly antithetic portion of finance.

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Fee Flywheel astatine Morgan Stanley, Everything Machine astatine JPMorgan

Ted Pick called it "a grounds quarter", and the creation matters. Wealth Management pulled successful $8.52 cardinal with $118.4 cardinal successful nett caller assets and $54 cardinal of fee-based flows. That is recurring, sticky revenue. Institutional Securities added $10.72 billion, with Advisory unsocial up 74%. Investment Management slipped 4% connected $11.6 cardinal of equity outflows, a reminder the interest exemplary inactive has brushed spots.

JPMorgan showed standard that Morgan Stanley cannot match. The Commercial & Investment Bank generated $23.38 billion, Markets deed a grounds $11.6 billion, and Card Services & Auto climbed 13% to $7.76 billion. Consumer recognition is simply a existent motor here, and it cuts some ways. The Card nett charge-off complaint ran astatine 3.46%, and nonperforming vulnerability roseate 11% to $11.0 billion.

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Capital-Light Advisor vs. Cyclical Credit Colossus

Lens	Morgan Stanley	JPMorgan
Core Bet	Wealth & advisory fees	Universal slope standard
Q1 Revenue	$20.58B	$49.84B
EPS	$3.43	$5.94
Client Assets	$7.34T	$7.1T
Trailing P/E	19	16

Morgan Stanley converts trillions successful assets nether absorption straight into predictable, high-margin advisory interest revenue. That shows up arsenic a 27.1% ROTCE and an ratio ratio compressed to 65%. JPMorgan holds #1 Global IB fees astatine 9.8% wallet share, but noninterest disbursal grew 14%, outpacing revenue.