Shareworks by Morgan Stanley

What Shareworks by Morgan Stanley does

Shareworks by Morgan Stanley operates as the equity compensation and workplace financial solutions division of Morgan Stanley (NYSE: MS), delivering an integrated platform for administering stock plans, retirement benefits, deferred compensation, and financial wellness programs to employers ranging from startups to large global enterprises. The platform originated from Morgan Stanley's 2019 acquisition of Solium Capital (operator of Shareworks) and was consolidated in 2020 with StockPlan Connect and E*TRADE stock plan accounts (acquired as part of the E*TRADE Financial transaction) under the unified Morgan Stanley at Work brand. The technology stack encompasses equity administration for both public and private companies, 409A valuations, liquidity solutions, NQDC plan administration, automated tax compliance, digital financial planning tools, and a content-rich financial education system, delivered through web and mobile applications with dedicated employer and employee login portals.

The business model combines subscription-based equity plan administration fees, managed services revenue from financial advisors providing personalized participant guidance, professional services fees for executive relationship management, and recurring fees for retirement and deferred compensation plan administration. Pricing is quote-based and varies by company size, plan complexity, and employee count, with annual billing cadences typical for enterprise and growth-tier clients. Go-to-market leverages a multi-channel approach: direct field sales through Morgan Stanley Financial Advisors and relationship managers for enterprise accounts, inside sales for mid-market companies, self-service digital portals for SMB and individual participants, and strategic partner referrals from VC firms, accelerators, and other intermediaries targeting portfolio companies. Revenue is not separately disclosed as the division operates within Morgan Stanley's consolidated wealth management and institutional securities segments.

The platform serves horizontally diversified customer segments including public companies (equity reporting, global intelligence, executive services), private companies (equity administration, 409A valuations, liquidity solutions), startups and small businesses (basic equity plans, financial wellness), and strategic partners such as venture capital and private equity firms managing portfolio company equity. Notable capabilities include access to Morgan Stanley's network of over 15,000 Financial Advisors for personalized employee guidance, integration with the Vestwell partnership for education financing benefits, and an annual Thrive industry conference establishing thought leadership in equity compensation. The division competes against standalone equity administration platforms (Carta, Fidelity Stock Plan Services, Schwab) and benefits materially from Morgan Stanley's brand recognition, regulatory infrastructure, and distribution scale.

Name

Shareworks by Morgan Stanley

Legal name

Morgan Stanley Smith Barney LLC

Website

https://shareworks.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Shareworks by Morgan Stanley is the equity compensation and workplace financial solutions division of Morgan Stanley, providing stock plan administration, retirement, deferred compensation, and financial wellness services to public companies, private companies, startups, and enterprise clients via an integrated digital platform backed by Morgan Stanley's 15,000+ Financial Advisors.

Ownership category

akta.pro rank

Product category

Equity Compensation Administration

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Compensation & Global Share Plan Administration (BPACAHAI)

Keywords

• Equity compensation administration
• Workplace financial solutions
• Stock plan management
• Deferred compensation plans
• Financial wellness programs

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Equity Administration Services: Fees for equity compensation plan administration including stock option plans, restricted stock units, and employee stock purchase plans for public and private companies.
2. Financial Advisory Services: Revenue from financial advisors providing personalized guidance to employees on equity compensation, retirement planning, and financial wellness.
3. Executive Services: Dedicated relationship management and specialized services for executive employees managing equity compensation and complex financial needs.
4. Retirement and Deferred Compensation Plans: Administration and management fees for retirement solutions and nonqualified deferred compensation plans.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Morgan Stanley at Work (Shareworks) is an integrated workplace financial solutions platform that administers equity compensation plans, retirement solutions, deferred compensation plans, and financial wellness programs for employers and their employees. The platform serves public companies, private companies, startups, and strategic partners with stock plan administration, 409A valuations, liquidity solutions, executive services, and education financing. The offering combines a proprietary technology platform with access to Morgan Stanley's network of over 15,000 Financial Advisors for personalized employee guidance.

Product overview

Morgan Stanley at Work is an integrated workplace financial benefits platform that consolidates equity compensation administration (formerly Shareworks, StockPlan Connect, and E*TRADE stock plan accounts), retirement solutions, deferred compensation, financial wellness, and education financing into a unified offering. The platform serves companies from startup to enterprise across private, public, and strategic partner segments, providing equity solutions for both private companies (equity administration, liquidity, 409A valuations) and public companies (financial reporting, global intelligence), complemented by executive services, retirement planning, deferred compensation plans, and education financing through the Vestwell partnership.

Differentiator

Problem solved

Functional benefit

Brands

• Shareworks: Equity administration platform for private and public companies offering stock plan management, 409A valuations, and liquidity solutions.

Products and services

• Morgan Stanley at Work (Shareworks) Platform Comprehensive workplace financial solutions platform that unifies equity compensation administration, retirement planning, deferred compensation, and financial wellness tools under a single platform for employers and their employees. Formerly known as Shareworks, StockPlan Connect, and E*TRADE stock plan accounts.
• Equity Solutions for Private Companies Comprehensive equity compensation administration for private companies including equity administration, liquidity solutions, and 409A valuations. Targets privately held companies from early-stage startups to established private enterprises.
• Equity Solutions for Public Companies Equity administration and financial reporting solutions for publicly traded companies, including global intelligence capabilities for international plan management.
• Executive Services Dedicated services for executives including equity compensation services, equity award analysis, and specialized solutions delivered by a dedicated relationship manager. Designed for executive employees managing complex equity compensation and financial needs.
• Retirement Solutions Comprehensive retirement planning solutions with support from Morgan Stanley Financial Advisors to help employees reach long-term retirement goals.
• Deferred Compensation Plans Nonqualified Deferred Compensation plans designed for executives and highly compensated employees as a tool for recruitment, retention, and reward.
• Financial Wellness Financial wellness program combining education, digital tools, and guidance from Morgan Stanley Financial Advisors to help employees achieve their financial goals.
• Charitable Giving Charitable giving solutions under the Saving and Giving offering for employees.
• Education Financing Student loan and college savings benefits offered through partnership with Vestwell Holdings Inc., enabling employers to provide employees with education financing options. Vestwell provides loan brokering, lending, and money transmission services.

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Vestwell Holdings Inc.supportingTechnology or IntegrationE*TRADE Financial Corporate Services, Inc. (part of Morgan Stanley at Work) has engaged Vestwell Holdings Inc. to offer Education Financing solutions, enabling employers to provide employees student loan and college savings benefits. Vestwell provides loan brokering, lending, and money transmission services while E*TRADE does not directly make loans or remit funds for these products.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Equiniti: Global provider of stock plan administration, transfer agency, and employee equity services. Directly comparable to Morgan Stanley at Work, particularly for multinational employers needing cross-border equity administration.
• Fidelity NetBenefits: Fidelity's stock plan administration and workplace equity services platform serving millions of participants at public and private employers. Directly comparable to Morgan Stanley at Work's equity administration and participant-facing portal capabilities.
• Computershare: Global leader in equity plan administration, transfer agent services, and employee share plan management. A long-standing direct competitor to Morgan Stanley at Work across both public and private company stock plan administration, with broader international coverage.
• Carta: Leading equity administration and cap table management platform focused on private companies and venture-backed startups. Directly competes with Morgan Stanley at Work's private company equity administration and 409A valuation offerings, often winning earlier-stage and venture-native issuers with modern, self-serve UX.
• Charles Schwab Stock Plan Services: Schwab's equity compensation and stock plan administration business serving corporate clients. Overlaps with Morgan Stanley at Work across equity admin, participant brokerage accounts, and financial advisory for equity compensation recipients.

Broad incumbents

• Empower Retirement: Large U.S. retirement plan administrator offering 401(k), NQDC, and executive benefit solutions. Competes with Morgan Stanley at Work's retirement and deferred compensation product lines as part of a broader workplace benefits portfolio.
• Fidelity Workplace Investing: Fidelity's retirement plan and workplace investing business serving employers with 401(k) and financial wellness programs. Comparable to Morgan Stanley at Work's retirement solutions and financial wellness offerings as part of a much broader wealth management platform.
• ADP: Global workforce management and HR/payroll/benefits services provider. Overlaps with Morgan Stanley at Work at the workplace benefits layer (including equity-related payroll deductions) but does not specialize in equity plan administration.
• Vanguard Retirement Plan Services: Vanguard's workplace retirement plan administration business for 401(k) and other qualified plans. Competes with Morgan Stanley at Work's retirement solutions arm, particularly for cost-sensitive plan sponsors.

Emerging players

• Guideline: Tech-forward 401(k) and retirement benefits provider focused on small and mid-sized businesses. Emerging competitor in the workplace retirement benefits space adjacent to Morgan Stanley at Work's retirement and small business offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/share?url=https://www.morganstanley.com/content/msatwork/en-us
• YouTubeyoutube.com/playlist?list=PLMUnYeeTvzNt5Zd5XlqQGQTLrAHS-x1zu
• Facebookfacebook.com/sharer/sharer.php?url=https://www.morganstanley.com/atwork
• LinkedInlinkedin.com/showcase/morgan-stanley-at-work

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shareworks by Morgan Stanley