Brittany Sheley
Portfolio Associate
Phone:
(760) 602-3560(760) 602-3560
Adam Gelcich
Senior Vice President,
Financial Advisor,
Lending Specialist
Direct:
(760) 602-3545(760) 602-3545
My Mission Statement
Leveraging best in class resources to help you achieve your financial goals.
Welcome
Adam Gelcich began his wealth management career as a sales assistant at Merrill Lynch in New York City in 1995 and entered the JP Morgan Private Bank analyst program in 1996. In 1999, he was transferred to Los Angeles where he spent 16 years with JP Morgan and Bear Stearns, which was eventually acquired by JP Morgan in 2008. In 2014, Adam and his wife decided to relocate to San Diego with Credit Suisse Private Bank. After it’s closing, Adam joined Wells Fargo Private Bank and then Morgan Stanley as a Senior Vice President in 2020. In Adam’s 29 year career, he has transacted across all asset classes and has worked with clients globally.
Adam graduated from Hofstra University (Hempstead, NY) in 1994 and was a member of the nationally ranked Men’s Division 1 lacrosse team. Adam is an avid golfer and runner, completing 4 marathons, his fastest time 3hrs 24 mins. He currently lives in Rancho Santa Fe with his wife Kathleen, their daughter Isaballe and 2 rescue dogs, Penny and Scout.
Adam graduated from Hofstra University (Hempstead, NY) in 1994 and was a member of the nationally ranked Men’s Division 1 lacrosse team. Adam is an avid golfer and runner, completing 4 marathons, his fastest time 3hrs 24 mins. He currently lives in Rancho Santa Fe with his wife Kathleen, their daughter Isaballe and 2 rescue dogs, Penny and Scout.
Services Include
- Wealth ManagementFootnote1
- 401(k) Rollovers
- SyndicateFootnote2
- Retirement PlanningFootnote3
- Alternative InvestmentsFootnote4
- Professional Portfolio ManagementFootnote5
- Cash Management and Lending ProductsFootnote6
- 529 PlansFootnote7
- Estate Planning StrategiesFootnote8
- Financial PlanningFootnote9
- Fixed IncomeFootnote10
- Foreign ExchangeFootnote11
- Structured ProductsFootnote12
- Trust AccountsFootnote13
- UGMA/UTMAFootnote14
Securities Agent: CA, MD, MA, WA, UT, FL, NY, NJ, NC, OR, IL, AZ, TX, DE, DC, WI, MT, CO, NV, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 530072
NMLS#: 530072
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
My Process
As your financial advisor, my role is to tailor a personalized financial strategy which fits your needs. In my experience working with clients, I have developed a step-by-step approach to service:
Discovery Process
I take the time to fully understand you and your family-whether you're planning for retirement, purchasing a home, or living out your golden years-I consider all of your challenges, goals, and aspirations when building your financial picture.
Forming Your Strategy
Using your life goals as our compass, I created a risk-balanced strategy which maps a clear path to achieving your success.
Implementing Your Plan
I apply extensive research and analysis, and also utilize Morgan Stanley's full suite of resources, to ensure swift decisive action in all market scenarios.
Measuring Your Success
I check in with you to deliver metrics around your portfolio, and ultimately measure trajectory towards your goals. Our ultimate mission is your success and well-being.
White Glove Service
Successful wealth management is a lifelong process, not a solitary event. We are committed to a white glove service experience that is both value-added and differentiating and based on three critical elements:
1. Caring Relationships
We are dedicated to building deep relationships, based on trust, transparency and integrity. We do this by working with a select group of clients who value our depth of knowledge in providing comprehensive solutions that go well beyond investments. The bonds we form are fundamental to our mission, and it is our hope they span generations.
2. Custom Advice
Our unique approach to wealth management begins with a thorough study and daily review of the events impacting the global and national macroeconomic climate. We leverage this deep understanding of the world events as we tailor an investment strategy for your personal situation. We then customize a portfolio that is uniquely yours to optimize growth and protect you against any downside.
3. Continuous Service
As part of our commitment to superior service, we will schedule a regular phone call with you every month. This conversation is our dedicated time to discuss updates in your life, questions you may have about the market or an opportunity to provide timely information about your portfolio. While you clearly drive the conversation with your agenda items, here are the four things we will discuss every month:
• Your Family
• Your Career
• Your Passions
• Your Money
We believe it is our responsibility to always be in sync with the changes in your life, so we can anticipate and respond strategically to new risks and emerging opportunities. The result is an integrated financial strategy that focuses on meeting your particular goals today and as they evolve over time.
• Your Family
• Your Career
• Your Passions
• Your Money
We believe it is our responsibility to always be in sync with the changes in your life, so we can anticipate and respond strategically to new risks and emerging opportunities. The result is an integrated financial strategy that focuses on meeting your particular goals today and as they evolve over time.
Planning For Your Future
When it comes to planning for your future, it is crucial to think about your investment objectives and your financial goals. At Morgan Stanley, we understand that the goals you set today can evolve over time, so we take a careful approach to make sure that your financial plan is tailored to you.
Below are some resources that you can review to learn more about how I can help you put a plan in place that will help achieve your financial goals. If you would like to schedule time to speak, please press the Contact Me button at the top to the page to connect.
Below are some resources that you can review to learn more about how I can help you put a plan in place that will help achieve your financial goals. If you would like to schedule time to speak, please press the Contact Me button at the top to the page to connect.
Financial Planning
Every persons financial situation is unique. As a Financial Advisor, it is extremely important to learn about each and every one of my clients, so that their plan is built for their goals. Through Morgan Stanley's suite of resources, I will work with you to help uncover your needs, manage risks, and build a customized plan to help you reach your financial goals.
Goals Based Planning
Legacy and Estate Planing
Delivering an estate to the next generation or your favorite charities requires more attention than many people commit. Coordinating with outside estate tax professionals, we align estate planning goals appropriately, while incorporating tax minimization strategies to help enhance results.
Learn More
Wealth Building
There are many important aspects when it comes to growing your wealth, especially when it comes to reducing your taxes. Every tax move that you make throughout your life can have a large impact on the amount of wealth you build over time. Learn more about Tax Efficient Investing with Morgan Stanley below.
Guide to Tax-Efficient Investing
Retirement Planning
Planning for your retirement can be a stressful thing to think about. It is important to determine how much money you may need to save for a comfortable retirement. If you have or have not thought about planning for your retirement, it is never too late to start.
Learn MoreInvestor Resources
Timely market commentary, thought leadership and portfolio ideas to help guide your investment decisions.
LifeView
LifeView is a suite of planning tools that includes goal-specific analysis that Financial Advisors can use with clients to create a realistic, holistic strategy that integrates the various aspects of an individual’s financial life, including investments and cash management needs.
Learn More About LifeView
Total Wealth View
Complete your financial picture with Total Wealth View. By linking your account information, you will benefit from more informed wealth planning, more secure data access, and convenient connectivity.
Learn More About Total Wealth View
Tax Planning Strategies
The tax decisions you make today can help you save for years to come. Consider these smart tax strategies for your financial plan.
Learn More About Tax Planning Strategies
Retirement Planning
Saving for retirement is a lifelong process that relies on defined financial planning strategies. Having enough income to comfortably cover all necessary expenses is a key to a successful retirement.
Learn More About Retirement Planning
Private Market Solutions
Our Private Market Solutions provide equity solutions that are designed for the innovative needs of private companies. Combining Shareworks' cutting edge technology with outstanding client service and premier wealth management capabilities, our solutions are designed to simplify the complexities of equity plan management, while helping employees realize the full potential of their benefits.
Learn More About Private Market Solutions
Estate & Trust Planning Strategies
Estate planning is the process of making arrangements to pass down wealth and assets after a person’s death. Proper estate planning gives careful consideration to the estate owner’s future plans, preferences and goals. The tax implications of the plan should also be thoroughly documented.
Learn More About Estate & Trust Planning Strategies
Family Offices Resources
Family Office Resources (FOR) provides specialized technical expertise to ultra-high net worth Financial Advisors and clients across a broad range of family wealth management issues.
Learn More About Family Offices ResourcesLocation
5796 Armada Drive
Suite 200
Carlsbad, CA 92008
US
Direct:
(760) 602-3545(760) 602-3545
Meet My Team
About Brittany Sheley
Brittany is often the first line of contact on a broad array of client services. A consummate professional, she is committed to providing each client with the highest level of personal service and integrity. Brittany has been an important member of Morgan Stanley since 2015.
From the largest task to the smallest request, Brittany works diligently to exceed client expectations. She coordinates various client service activities, including onboarding new clients and interfacing with various departments to ensure client issues are resolved efficiently.
Prior to joining Morgan Stanley, Brittany was a Branch Service Officer at Union Bank. She recently relocated from Silverdale, Washington and is happily married to her husband, Sean, who has served 12 years in the Navy and is currently a weapons instructor. They have one son, Sawyer, and two dogs.
Brittany grew up in Eugene, Oregon and attended University of Oregon and later Oregon State University. In her free time, she enjoys hiking, going to the beach, and spending time with family.
From the largest task to the smallest request, Brittany works diligently to exceed client expectations. She coordinates various client service activities, including onboarding new clients and interfacing with various departments to ensure client issues are resolved efficiently.
Prior to joining Morgan Stanley, Brittany was a Branch Service Officer at Union Bank. She recently relocated from Silverdale, Washington and is happily married to her husband, Sean, who has served 12 years in the Navy and is currently a weapons instructor. They have one son, Sawyer, and two dogs.
Brittany grew up in Eugene, Oregon and attended University of Oregon and later Oregon State University. In her free time, she enjoys hiking, going to the beach, and spending time with family.
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Russ Gallen
Private Banker
Michael Mackowiak
Private Banker
Jen Neeley, CFP®
Financial Planning Director, Vice President
Robert Breyer
Planning Associate
About Russ Gallen
Russ Gallen is a Private Banker serving Morgan Stanley Wealth Management offices in California.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Russ began his career in financial services in 2001, and joined Morgan Stanley in 2018 as a Private Banker. Prior to joining the firm, he was a Wealth Management Banker at Merrill Lynch.
Russ is a graduate of Arizona State University, where he received a Bachelor of Science in Finance. He lives in Carlsbad, California with his wife, Chelsea. Outside of the office, Russ enjoys golf, tennis and traveling.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Russ began his career in financial services in 2001, and joined Morgan Stanley in 2018 as a Private Banker. Prior to joining the firm, he was a Wealth Management Banker at Merrill Lynch.
Russ is a graduate of Arizona State University, where he received a Bachelor of Science in Finance. He lives in Carlsbad, California with his wife, Chelsea. Outside of the office, Russ enjoys golf, tennis and traveling.
NMLS#: 684961
About Michael Mackowiak
Michael Mackowiak is a Private Banker serving Morgan Stanley Wealth Management offices in California.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Michael began his career in financial services in 2008, and joined Morgan Stanley in 2019 as a Private Banker. Prior to joining the firm, he was a Premier Banker at Wells Fargo Bank, N.A.
He lives in Chula Vista, California with his family. Outside of the office, Michael enjoys watching soccer and baseball, traveling, and spending time with his family.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Michael began his career in financial services in 2008, and joined Morgan Stanley in 2019 as a Private Banker. Prior to joining the firm, he was a Premier Banker at Wells Fargo Bank, N.A.
He lives in Chula Vista, California with his family. Outside of the office, Michael enjoys watching soccer and baseball, traveling, and spending time with his family.
NMLS#: 1069297
About Jen Neeley
Jen Neeley CFP® is a Vice President and Financial Planning Director serving Morgan Stanley’s Wealth Management offices in San Diego, CA. She is responsible for helping Financial Advisors with their clients’ and prospects’ financial planning needs.
Jen began her career in financial services in 2013, and joined Morgan Stanley in 2023. Prior to her current position, she was a Wealth Planning Associate with UBS, where she analyzed client portfolios, worked closely with financial advisors and interfaced with prospective and existing investors. Prior to UBS, Jen worked for Lincoln Financial Advisors, where she obtained her CFP® certification.
Jen graduated from Salisbury University and holds her Bachelor of Science degree in Corporate Finance. Jen lives in San Diego, CA. Having grown up and gone to school in the Baltimore area, she is a fan of the city’s professional baseball (Orioles) and football (Ravens) teams. While she enjoys living in southern California, she tries to return to the East Coast periodically to visit her close-knit family.
In her free time, Jen likes hiking in the mountains, watching movies, listening to all types of music and spending time with friends.
Jen began her career in financial services in 2013, and joined Morgan Stanley in 2023. Prior to her current position, she was a Wealth Planning Associate with UBS, where she analyzed client portfolios, worked closely with financial advisors and interfaced with prospective and existing investors. Prior to UBS, Jen worked for Lincoln Financial Advisors, where she obtained her CFP® certification.
Jen graduated from Salisbury University and holds her Bachelor of Science degree in Corporate Finance. Jen lives in San Diego, CA. Having grown up and gone to school in the Baltimore area, she is a fan of the city’s professional baseball (Orioles) and football (Ravens) teams. While she enjoys living in southern California, she tries to return to the East Coast periodically to visit her close-knit family.
In her free time, Jen likes hiking in the mountains, watching movies, listening to all types of music and spending time with friends.
CA Insurance License #: 4054708
About Robert Breyer
Robert is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define goals that matter most to them. Leveraging state of the art technology, he will evaluate various alternatives and their potential outcomes to help clients confidently choose the appropriate course of action. Robert provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
Robert earned his undergraduate degree from Carleton College and received the Financial Planning Specialist® designation from the College for Financial Planning. Robert is originally from Washington and currently resides in the New York area.
Robert earned his undergraduate degree from Carleton College and received the Financial Planning Specialist® designation from the College for Financial Planning. Robert is originally from Washington and currently resides in the New York area.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
Article Image
Ready to start a conversation? Contact Adam Gelcich today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
6Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
9Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
10Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
11GlobalCurrency is available to clients of Morgan Stanley Smith Barney LLC with an eligible brokerage account. Before undertaking foreign exchange transactions, clients should understand the associated risks.
Engaging in foreign currency transactions entails more varied risks than normally associated with transactions in the domestic securities markets. Attention should be paid to market, credit, sovereign, and liquidity risks. The foreign exchange transactions and deposits discussed in this material may not be appropriate for all clients. The appropriateness of a particular investment or strategy depends upon a client’s particular circumstances and objectives. This material does not provide individually tailored investment advice.
12Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
13Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
14Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
6Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
9Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
10Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
11GlobalCurrency is available to clients of Morgan Stanley Smith Barney LLC with an eligible brokerage account. Before undertaking foreign exchange transactions, clients should understand the associated risks.
Engaging in foreign currency transactions entails more varied risks than normally associated with transactions in the domestic securities markets. Attention should be paid to market, credit, sovereign, and liquidity risks. The foreign exchange transactions and deposits discussed in this material may not be appropriate for all clients. The appropriateness of a particular investment or strategy depends upon a client’s particular circumstances and objectives. This material does not provide individually tailored investment advice.
12Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
13Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
14Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
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Awards Disclosures
CRC 6491812 (04/2024)
