Morgan Stanley profit beats estimates on wealth management, lower costs
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(Reuters) - Morgan Stanley beat analysts' estimates for a quarterly profit on Wednesday on gains in its wealth management business and lower expenses, sending its shares up 3 percent.Revenue from the wealth management unit rose slightly in the first quarter, bouncing back from a drop in the preceding quarter, and was the only bright spot in an otherwise bleak report.The company has been striving to grow its wealth management business, which provides financial advice to wealthy clients, to reduce..