Morgan Stanley Partners with Greenlight to Empower Families to Raise Financially-Smart Kids

Rhea-AI Summary

Morgan Stanley (NYSE: MS) has partnered with Greenlight Financial Technology to offer families a complimentary Greenlight subscription to help teach children about personal finance. This initiative, aimed at CashPlus account holders, includes a debit card and a companion app that fosters money management skills in kids and teens. The service, valued at $4.99 monthly, covers automatic allowance payments, chore tracking, and flexible spending controls. This partnership aligns with Morgan Stanley's goal to support families in building long-term financial health.

Positive

• Partnership with Greenlight enhances the value proposition for CashPlus account holders.
• Complimentary Greenlight subscription offers significant financial education benefits for families.
• Strengthens Morgan Stanley's brand as a family-oriented financial services provider.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley today announced a partnership with Greenlight^® Financial Technology, Inc. (“Greenlight”) to bring families an easy, convenient way to teach kids about personal finance. All Morgan Stanley CashPlus brokerage account holders can now sign up for a complimentary Greenlight subscription, complete with Greenlight debit cards for each child and a companion money app for the whole family.

Greenlight teaches kids and teens invaluable money management skills through its award-winning app and debit card that instills lessons in earning, saving, spending wisely and investing. With Greenlight, parents also have a better way to manage family finances with automatic allowance payment, chores tracking, flexible spend controls and more.

“Many of our Morgan Stanley CashPlus account holders are families looking for a better way to manage their money while continuing to build long-term wealth for their family,” said Paul Halpern, Head of Deposits and Banking Services, Morgan Stanley Private Banking Group. “Greenlight brings our clients a way to also teach their children about the world of money, ensuring the next generation has the knowledge and skills they need for a healthy financial future.”

“Parents know it’s important for their kids and teens to grow up with healthy financial habits, but many don’t know where to start and schools don't always give them the tools they need,” said Tim Sheehan, co-founder and CEO of Greenlight. “Partnering with Morgan Stanley, a global leader in financial services, allows us to bring Greenlight to even more families, empowering parents to raise financially-smart kids.”

Morgan Stanley CashPlus offers clients a modern alternative to banking. CashPlus is designed specifically for cash management needs, while offering a wide range of benefits – from unlimited ATM withdrawals to easy online bill pay to no foreign transaction fees – and a seamless digital experience. Greenlight is the newest benefit now available to all Morgan Stanley CashPlus account holders.

Morgan Stanley's CashPlus account holders will receive Greenlight's $4.99 monthly subscription plan complimentary when they sign up for this program. Once enrolled, a client can add up to five family members to the Greenlight account. For more information, please visit: www.morganstanley.com/greenlight.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

The CashPlus Account is a brokerage account offered through Morgan Stanley Smith Barney LLC. Conditions and restrictions apply. Please refer to the CashPlus Account Disclosure Statement for further details at https://www.morganstanley.com/wealth-disclosures/cashplusaccountdisclosurestatement.pdf.

About Greenlight

Greenlight Financial Technology is the family fintech company on a mission to help parents raise financially-smart kids. Its groundbreaking product, Greenlight, is an all-in-one money management platform purpose-built for families, complete with a debit card and companion app. Parents can automate allowance, manage chores, set flexible spend controls and invest for their kids’ futures. Kids and teens learn to earn, save, spend wisely, give and invest with parental approval.

The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. For more information about Greenlight, please visit: greenlight.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005655/en/

Morgan Stanley:

Susan Siering, Susan.Siering@morganstanley.com or Cesaltine Gregorio, Cesaltine.Gregorio@morganstanley.com

Greenlight:

Jessica Tenny, jessica.tenny@greenlight.me

Source: Morgan Stanley

FAQ

What is Morgan Stanley's new partnership about?

Morgan Stanley has partnered with Greenlight to provide families a complimentary subscription to Greenlight's financial education platform.

How does the Greenlight subscription benefit Morgan Stanley account holders?

The subscription offers children and teens tools to learn personal finance through a debit card and money management app.

What is the cost of the Greenlight subscription for Morgan Stanley clients?

The Greenlight subscription, normally $4.99 monthly, is offered complimentary to Morgan Stanley CashPlus account holders.

Who can access the Greenlight service?

All holders of Morgan Stanley's CashPlus brokerage accounts can sign up for the Greenlight service.

What features does the Greenlight app provide?

The Greenlight app includes features like automatic allowance payments, chore tracking, and flexible spending controls.