diff --git a/cmd/neofs-adm/internal/modules/morph/generate.go b/cmd/neofs-adm/internal/modules/morph/generate.go
index 6c027e05a..2614e483e 100644
--- a/cmd/neofs-adm/internal/modules/morph/generate.go
+++ b/cmd/neofs-adm/internal/modules/morph/generate.go
@@ -1,7 +1,14 @@
 package morph
 
 import (
+	"fmt"
+	"path"
+
+	"github.com/nspcc-dev/neo-go/pkg/crypto/keys"
+	"github.com/nspcc-dev/neo-go/pkg/smartcontract"
+	"github.com/nspcc-dev/neo-go/pkg/wallet"
 	"github.com/nspcc-dev/neofs-node/cmd/neofs-adm/internal/modules/config"
+	"github.com/nspcc-dev/neofs-node/pkg/innerring"
 	"github.com/spf13/cobra"
 	"github.com/spf13/viper"
 )
@@ -21,8 +28,13 @@ func generateAlphabetCreds(cmd *cobra.Command, args []string) error {
 		}
 	}
 
+	walletDir := viper.GetString(alphabetWalletsFlag)
+	if err := initializeWallets(walletDir, pwds); err != nil {
+		return err
+	}
+
 	cmd.Println("size:", size)
-	cmd.Println("alphabet-wallets:", viper.GetString(alphabetWalletsFlag))
+	cmd.Println("alphabet-wallets:", walletDir)
 	for i := range pwds {
 		cmd.Printf("wallet[%d]: %s\n", i, pwds[i])
 	}
@@ -30,6 +42,64 @@ func generateAlphabetCreds(cmd *cobra.Command, args []string) error {
 	return nil
 }
 
+func initializeWallets(walletDir string, passwords []string) error {
+	size := len(passwords)
+	wallets := make([]*wallet.Wallet, size)
+	pubs := make(keys.PublicKeys, size)
+
+	for i := range wallets {
+		p := path.Join(walletDir, innerring.GlagoliticLetter(i).String()+".json")
+		// TODO(@fyrchik): file is created with 0666 permissions, consider changing.
+		w, err := wallet.NewWallet(p)
+		if err != nil {
+			return fmt.Errorf("can't create wallet: %w", err)
+		}
+		if err := w.CreateAccount("single", passwords[i]); err != nil {
+			return fmt.Errorf("can't create account: %w", err)
+		}
+
+		wallets[i] = w
+		pubs[i] = w.Accounts[0].PrivateKey().PublicKey()
+	}
+
+	// Create committee account with N/2+1 multi-signature.
+	majCount := smartcontract.GetMajorityHonestNodeCount(size)
+	for i, w := range wallets {
+		if err := addMultisigAccount(w, majCount, passwords[i], pubs); err != nil {
+			return fmt.Errorf("can't create committee account: %w", err)
+		}
+	}
+
+	// Create consensus account with 2*N/3+1 multi-signature.
+	bftCount := smartcontract.GetDefaultHonestNodeCount(size)
+	for i, w := range wallets {
+		if err := addMultisigAccount(w, bftCount, passwords[i], pubs); err != nil {
+			return fmt.Errorf("can't create consensus account: %w", err)
+		}
+	}
+
+	for _, w := range wallets {
+		if err := w.Save(); err != nil {
+			return fmt.Errorf("can't save wallet: %w", err)
+		}
+		w.Close()
+	}
+
+	return nil
+}
+
+func addMultisigAccount(w *wallet.Wallet, m int, password string, pubs keys.PublicKeys) error {
+	acc := wallet.NewAccountFromPrivateKey(w.Accounts[0].PrivateKey())
+	if err := acc.ConvertMultisig(m, pubs); err != nil {
+		return err
+	}
+	if err := acc.Encrypt(password, keys.NEP2ScryptParams()); err != nil {
+		return err
+	}
+	w.AddAccount(acc)
+	return nil
+}
+
 func generateStorageCreds(cmd *cobra.Command, args []string) error {
 	// storage wallet path is not part of the config
 	storageWalletPath, err := cmd.Flags().GetString(storageWalletFlag)