Wall Street wealth management giant Morgan Stanley Inc. said Wednesday it will continue to offer both fee-based and commission accounts once new fiduciary rules come into effect.

The New York City-firm announced that clients with retirement accounts that are covered by the new U.S. Department of Labor (DOL) fiduciary rule will still be able to operate accounts that charge commissions for transactions, or accounts that charge a fee based on the value of assets.

In addition to fee-based accounts, the firm said that clients who prefer transaction-based pricing will be able to receive advice that complies with the fiduciary rule through accounts that offer a product suite including mutual funds, exchange traded products (such as ETFs) and other products.

“Client needs vary by their individual situations, and they tell us they want choice in how they pay for services. We believe our advisors can most effectively uphold a fiduciary standard of care and work in clients’ best interests by continuing to offer choice,” said Shelley O’Connor and Andy Saperstein, co-heads of wealth management at Morgan Stanley, in a news release.

“Delivering a retirement account platform based on fiduciary principles that provides the widest possible capabilities and preserves client choice is our vote of confidence in our advisors’ continuing commitment to placing client interests first,” they added.

Commenting on the decision, Justin Fuller, senior director at Fitch Ratings, said, “Morgan Stanley may have [an] advantage with commission-based accounts as it provides client choices on how to pay, however appropriate disclosure will be critical.”

Fuller also said that Morgan Stanley “may experience less revenue risk” with its approach, but that, “If disclosure is problematic, any issues could lead to potential litigation.”