Morgan Stanley’s online portal for wealth management clients suffered an outage Wednesday, according to media reports.
The bank told clients to call their human advisors to place trades instead of using the website, CNBC reports. In addition to allowing clients to place trades, the portal allows them to view accounts and use personal finance tools.
Concerns about the novel coronavirus and its economic impact have caused stock market trading volume and volatility to surge over the last month. On high-volume days, some online trading services have gone down, most notably free trading app Robinhood, which suffered outages early this month that angered clients.
Morgan Stanley’s outage on Wednesday was not related to trading volume or to employees working from home, a spokesperson told Barron’s Advisor in an email. Rather, it stemmed from a bug with an external software provider. The system was back up at 3:30 p.m. ET Wednesday.
“Clients were able to put in trades through our back-up system or through an advisor,” the spokesperson said. “Any client that was disadvantaged, we will remediate and we are in the process of doing that today.”