(Elise Wetter Morgan died on October 23, 2011, and a private family burial was held at Elmwood Cemetery for her.
[citation needed] In 2002, Morgan was selected as the chairman of the board of the Securities Industry Association.
In 2003, he named Doug Edwards as the CEO and retained the chairman's title until his retirement on December 31, 2007.
[citation needed] In December 2010, Morgan was charged by the Securities and Exchange Commission (SEC) along with eight other directors of mutual funds.
[7] Morgan's civic and cultural involvements have included the State of Tennessee Building Finance Committee, Methodist Hospitals, the Community Foundation of Greater Memphis, Allen Morgan Health Center, Opera Memphis, and Dixon Gallery and Gardens.