A surge in investor activity late last year and market appreciation boosted Morgan Stanley Wealth Management’s total client assets to $6.2 trillion at the end of the fourth quarter, a 21% increase over the same period last year.

Shares of Morgan Stanley gained in early trading Thursday, after the bank and broker beat both profit and revenue expectations for the latest quarter, fueled by strength in the equity and bond trading businesses.

Morgan Stanley said its profit more than doubled in the fourth quarter, fueled by its investment banking and trading businesses. Profit surged 145% to $3.71 billion. That amounted to $2.22 per share,