Morgan Stanley (MS) is assigning a new designation of "founders specialist" to roughly 200 of its financial advisers to address the needs of clients with wealth concentrated in a private company, Bloomberg reported Wednesday, citing Jed Finn, head of the firm's wealth management segment.

The specialists will offer products and services tailored for founders, investors, and employees of closely held companies to tackle challenges around liquidity and asset location, according to the report.

"It's just different than traditional wealth management," Finn told Bloomberg in an interview. "We know there are lots of clients who are single-position hundred-millionaires who want $3 million to buy their family a house and no one will give them a mortgage. We can model it out."

Morgan Stanley did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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