Wrap Mutual Fund account based on Proprietary MS Funds, mostly class A share MS institutional funds (with some Van Kampen and regular retail mutual funds) w/$1 million minimums, waived for PA accts.  Minimum amount is $10,000, fee tops out at 1.5%.  Auto rebalancing quarterly if you use the recommended allocation (ibbottson style).  Morgan also has Fund Solution, which is the same thing except with external funds.