Ana Munro, CFP®, QPFC
Senior Vice President,
Financial Advisor,
CERTIFIED FINANCIAL PLANNER®,
Portfolio Management Director,
Workplace Advisor - Equity Compensation,
Insurance Planning Director
Direct:
(239) 359-4872(239) 359-4872
Industry Award WinnerMy Mission Statement
At the heart of my work is a simple belief: true wealth is the ability to live fully and intentionally.
My mission is to serve as an extension of your family office, blending estate planning, lifestyle advisory, legacy stewardship, and access to unique opportunities, all in a seamlessly coordinated plan.
My ultimate goal is to manage the intricacies that are often overlooked. And to give you back your most precious asset – time – so you can focus on your life’s purpose, your passions, and the people who matter most to you.
My mission is to serve as an extension of your family office, blending estate planning, lifestyle advisory, legacy stewardship, and access to unique opportunities, all in a seamlessly coordinated plan.
My ultimate goal is to manage the intricacies that are often overlooked. And to give you back your most precious asset – time – so you can focus on your life’s purpose, your passions, and the people who matter most to you.
My Story and Services
I am often asked why I chose my line of work.
To truly answer that question, I need to share a bit of my story.
I was born in Brazil and raised by a single mother in a modest home, where financial stability was out of reach. When my mother made the courageous decision to move to Southwest Florida in pursuit of the American dream, I stayed behind to care for my younger brother and manage the household. I quickly learned an important lesson: my mother had hardly any understanding of how to manage money.
I taught myself the basics of financial decision-making, all by necessity as a thirteen-year-old. It was an experience that planted the seed for a lifelong pursuit of knowledge, ultimately leading me to formal education, advanced certifications and a career advising sophisticated investors and institutions.
After a few years living apart, I was finally able to join my mother to start a new life. I arrived just in time to finish high school with no financial resources, barely spoke English, and did not know anyone else. What I did have then was determination to pursue an education in finance. I embraced the steep learning curve, applied everything I had been learning into my own life, and built the foundation that would shape my career and change my future.
For nearly two decades, I have refined my experience across investment strategy, estate planning, and multigenerational wealth structures. I have earned a summa cum laude bachelor’s degree in finance and an MBA from Florida Gulf Coast University. I have also received the CFP® certification, recognized as the standard of excellence in wealth planning. I have obtained the designations of Senior Portfolio Manager, Workplace Advisor in Equity Compensation, and Insurance Planning Director. I have been a keynote speaker, coach, and thought leader, featured on platforms including Chief, From Now to Next, and Woman 2 Woman. I have served in the Board of Directors of private businesses and non-profit organizations - currently at Women Enabled Enterprises, ShopConsciously.Com, The Women’s Foundation of Collier County and Literacy Collier.
Today, I co-lead a practice that advises some of the most accomplished individuals and families in the U.S. and globally, including corporate executives, entrepreneurs, private equity professionals, family offices, and wealth creators. My clients turn to me not only for investment and legacy planning, but also for navigating generational transitions, private market opportunities, governance structures, and philanthropic strategy, all with with precision and intention.
At its core, my work is about helping families align wealth with purpose. In every client relationship, I bring a strategic mindset, a multidisciplinary approach, and a deep respect for what wealth makes possible.
To truly answer that question, I need to share a bit of my story.
I was born in Brazil and raised by a single mother in a modest home, where financial stability was out of reach. When my mother made the courageous decision to move to Southwest Florida in pursuit of the American dream, I stayed behind to care for my younger brother and manage the household. I quickly learned an important lesson: my mother had hardly any understanding of how to manage money.
I taught myself the basics of financial decision-making, all by necessity as a thirteen-year-old. It was an experience that planted the seed for a lifelong pursuit of knowledge, ultimately leading me to formal education, advanced certifications and a career advising sophisticated investors and institutions.
After a few years living apart, I was finally able to join my mother to start a new life. I arrived just in time to finish high school with no financial resources, barely spoke English, and did not know anyone else. What I did have then was determination to pursue an education in finance. I embraced the steep learning curve, applied everything I had been learning into my own life, and built the foundation that would shape my career and change my future.
For nearly two decades, I have refined my experience across investment strategy, estate planning, and multigenerational wealth structures. I have earned a summa cum laude bachelor’s degree in finance and an MBA from Florida Gulf Coast University. I have also received the CFP® certification, recognized as the standard of excellence in wealth planning. I have obtained the designations of Senior Portfolio Manager, Workplace Advisor in Equity Compensation, and Insurance Planning Director. I have been a keynote speaker, coach, and thought leader, featured on platforms including Chief, From Now to Next, and Woman 2 Woman. I have served in the Board of Directors of private businesses and non-profit organizations - currently at Women Enabled Enterprises, ShopConsciously.Com, The Women’s Foundation of Collier County and Literacy Collier.
Today, I co-lead a practice that advises some of the most accomplished individuals and families in the U.S. and globally, including corporate executives, entrepreneurs, private equity professionals, family offices, and wealth creators. My clients turn to me not only for investment and legacy planning, but also for navigating generational transitions, private market opportunities, governance structures, and philanthropic strategy, all with with precision and intention.
At its core, my work is about helping families align wealth with purpose. In every client relationship, I bring a strategic mindset, a multidisciplinary approach, and a deep respect for what wealth makes possible.
Services Include
- Wealth PlanningFootnote1
- Wealth ManagementFootnote2
- Business PlanningFootnote3
- Endowments and FoundationsFootnote4
- Alternative InvestmentsFootnote5
- Estate Planning StrategiesFootnote6
- Trust ServicesFootnote7
- Philanthropic ManagementFootnote8
- Art AdvisoryFootnote9
- SyndicateFootnote10
- Cash Management and Lending ProductsFootnote11
- Corporate Retirement PlansFootnote12
- Stock Plan ServicesFootnote13
Securities Agent: OK, HI, PA, ME, AR, WI, VA, UT, TN, SC, OR, ND, CT, AL, NY, NV, NM, MO, FL, AK, WV, SD, MT, ID, IA, DC, RI, NE, NC, KY, TX, PR, OH, MS, MI, MA, KS, CA, WY, NH, CO, AZ, VT, NJ, MN, MD, GA, WA, IN, DE, VI, LA, IL; General Securities Representative; Investment Advisor Representative
NMLS#: 434224
CA Insurance License #: 0K05620
AR Insurance License #: 15661642
NMLS#: 434224
CA Insurance License #: 0K05620
AR Insurance License #: 15661642
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Your Experience With Me
When we work together, you can expect more than investment advice. My role is to anticipate your needs, simplify complexity, and protect what matters most to you: your family, your wealth, your legacy, and your peace of mind.
Personalized Attention
I take the time to understand every nuance of your financial life, including your vision for the future, your family dynamics, your goals and your priorities. You will always have direct access to me, and I will ensure that the decisions we make together are tailored to what is most important to you.
Your Best Interests, Always
I only take on relationships where I know I can add exceptional value. My advice is comprehensive, independent, transparent, and free from external incentives. Your priorities are my only focus.
Guidance That Goes Beyond
Your wealth and legacy touches every corner of your life. I provide holistic planning that may include tax strategies, estate planning, philanthropy, legacy structures, equity compensation, alternative investments, and access to unique opportunities in private markets. Every conversation is designed to help you make confident and informed decisions.
Authentic Relationships
I view our relationship as a partnership built on trust, transparency, and results. You can count on me to communicate openly, follow through on commitments, and provide clear well-reasoned recommendations backed by data and experience.
Collaborative Advantage
I bring together my own experience with the perspectives of my trusted network of family office specialists and strategic partners so you will have access to innovative and effective strategies and opportunities aligned with your goals.
Unified Approach
I believe that results improve when there is a complete alignment across every aspect of your financial life. I remain in regular contact with your attorney and CPA, or when needed, I connect you with the ideal professionals for your situation. This helps ensure that my guidance is holistic and coordinated across investment, tax, and estate planning. You can expect that the decisions we make are part of a unified multidisciplinary strategy designed to help advance your goals.
Women Enabled Enterprises
WEE is a non-profit organization helping low income, high potential women in Africa start or grow a micro business for self-sufficiency. Ana Munro is on the Board of Directors and provides ongoing support to WEE's mission.
Compassion
Through a holistic approach to child development, Compassion reaches children nationally and internationally to help release them from poverty.
The organization has a holistic approach as it blends physical, social, economic and spiritual care together.
Ana Munro has been a sponsor for several years.
The organization has a holistic approach as it blends physical, social, economic and spiritual care together.
Ana Munro has been a sponsor for several years.
Girls Who Invest
This organization's primary mission is to bring more women into portfolio management and leadership roles. Their approach is inclusive: education, mentoring, internships and a supportive community.
GFWC - General Federation of Women's Clubs
The GFWC's local chapter is the Naples Woman’s Club, a non-profit organization working to enhance the lives of others through philanthropic activities and volunteer service. Ana Munro serves as Sponsorship Chair and is a member of the Empowering Women Committee. Notable members of the GFWC include Sandra Day O'Connor (first woman Supreme Court Justice), Ellen Ochoa (first Hispanic woman astronaut to orbit space), Michelle Wie West (youngest woman to qualify for the LPGA), and Grace Brewster Murray Hopper (Naval Admiral who developed the Cobol programming language).
Parkinson’s Association of Southwest Florida
Parkinson’s disease affects some of our team members’ families as well as a number of our clients and their loved ones. The Parkinson’s Association of SWFL is a vital organization to improve the quality of life of those affected by Parkinson’s and other neurodegenerative diseases. They offer a variety of programs to educate, enrich and empower those affected. We are proud supporters of their important mission.
Charity Navigator
Charity Navigator is a growing database of nonprofits who are unbiasedly rated based on a research tool that includes data from the IRA, other partners and the charities themselves. Donors who are looking to make a difference can look up their non-profit to learn more in a transparent way. Ana Munro and The Calleja Group are partners who volunteer to educate about giving with impact, teaching kids to give, as well a variety of charitable giving strategies to maximize the benefits of giving.
American Heart Association
Ana Munro and The Calleja Group are proud supporters of Go Red for Women, an initiative whose mission is to bring awareness about prevention and warning signs of cardiovascular disease, the number 1 killer of women - causing 1 in 3 deaths each year.
Youth Haven
Youth Haven was established to fulfill an immediate need for emergency shelter for children who have been removed suddenly from a traumatic home situation. A group of caring local individuals worked together with law enforcement and community partners to create a safe space for each of these children in need.
Naples Players
The Naples Players continually seeks to enrich, educate, and entertain the community through a superior theatre experience. TNP is a premier community theatre, seeking to inspire passion for the performing arts through unparalleled access to the process, experience, and conversations surrounding the arts and the community.
Golisano Children's Museum of Naples
A 501(c)(3) not-for-profit charitable organization founded in 2002, the Golisano Children’s Museum of Naples (CMON) is a brain-building powerhouse and Southwest Florida’s first museum devoted to children and families. This safe and wonderful place inspires children and families to have fun while learning together.
American Cancer Society
The American Cancer Society is a leading cancer-fighting organization with a vision to end cancer as we know it, for everyone. They strive to improve the lives of people with cancer and their families as the only organization combating cancer through advocacy, research, and patient support, to ensure that everyone has an opportunity to prevent, detect, treat, and survive cancer.
Shelter for Abused Women & Children
The Shelter's mission is to lead and collaborate with the community to prevent, protect and prevail over domestic violence and human trafficking. Based in Naples, Collier County, FL, USA, The Shelter operates a 24-hour Crisis Line, two 60-bed emergency shelters (Naples and Immokalee, FL) and nine Transitional Living cottages in Collier County, FL. All in-house and outreach programs and services, training and education are provided free of charge.
Opera Naples
Their mission is to be a professional opera company known for excellence and innovation by presenting quality opera, musical performances, education, and community engagement programs.
Gulfshore Playhouse
Gulfshore Playhouse is passionately committed to enriching the cultural landscape of the region by producing professional theatre to the highest artistic standards and providing unique educational opportunities to diverse groups of people in a spirit of service, adventure, and excitement. Their work is inspired by a belief in the magic of theatre to expand the imagination, challenge the senses, provoke discussion, and revitalize in the audience an understanding of our common humanity. This belief drives the care with which they treat artists, audiences, students, staff, and members of the greater community.
Guadalupe Center
The Guadalupe Center is a purpose driven non-profit organization that exists to create possibilities through education for the students of Immokalee fostering personal and academic success leading to economic independence.
Multiple Sclerosis Center of Southwest Florida
The MS Center is a community center that provides valuable resources to individuals, and their families, who are affected by multiple sclerosis. The center’s goals are to reduce isolation, improve mobility, and reduce the risk of poor outcomes related to daily living.
Naples Ballet
Naples Ballet and Company is a 501(c), nonprofit organization dedicated to setting new standards for artistic excellence and promoting cultural enrichment by creating awareness of the art of dance within the Naples community. Their mission is to provide dancers of all ages with professional dance instruction and performance opportunities.
Naples Botanical Gardens
Naples Botanical Garden conserves the plants and habitats of the tropics, cultivates beauty, offers knowledge, and inspires the protection of nature.
PACE Center for Girls
Pace is one of the only multi-state gender-responsive, trauma-informed, and strength-based models for girls in the country, with a proven evidence base. Dedicated to changing the lives of girls through the development of critical life, health and mental health, and academic skills, Pace has a successful and proven program model that has changed the life trajectory of more than 40,000 girls and is recognized as one of the nation’s leading advocates for girls.
Humane Society Naples
Humane Society Naples is an independent nonprofit serving the public by providing care, shelter and placement into loving homes for orphaned animals in the Collier County area through pet adoptions. They never place a time limit on how long dogs, cats and other pets stay at their shelter.
Jingled Elves
Jingled Elves, Inc. is a 501(c)(3) organization providing funds to charitable organizations focused on improving the lives of women and children in Collier County, Florida.
Planning For Your Family's Financial Needs
Beyond investments and financial planning, my group and I provide coordinated family office services that address the comprehensive scope of wealth and legacy.
Working in alignment with your trusted advisors, or introducing the ideal professionals when needed, I help ensure that every decision is strategically integrated across legal, tax, governance, and legacy considerations.
My goal is to simplify complexity, create clarity, and help you make confident decisions that service your family’s long-term wellbeing.
Working in alignment with your trusted advisors, or introducing the ideal professionals when needed, I help ensure that every decision is strategically integrated across legal, tax, governance, and legacy considerations.
My goal is to simplify complexity, create clarity, and help you make confident decisions that service your family’s long-term wellbeing.
Philanthropic Planning
Many of us prefer to combine our support for the causes and people we care about with a desire to save on taxes. Fortunately, there are strategies that may help us accomplish both. Whether you want to donate to charity or invest in a loved-one’s future, consider these tax‐smart ways to help make your giving go further.
Tax Savvy Ways of Giving Back
Trust and Estate Planning
With you every step of the way. The Calleja Group analyzes a client's tax and estate structures so that their tax characteristics are accurately incorporated in the asset allocation analysis performed for the client.
The State of Your Parents' Estate
Intangible Asset Management
Intangible assets are becoming increasingly important for individuals and companies to grow and generate profits.
Expectations and the Role of Intangible Assets
Family Governance
Particularly in the case of an ultra high net worth family engaged in a common enterprise, such as running a family business, operating a family office, or simply investing together as a family, it's extremely important to have a sound framework within which to make decisions - in other words, a family governance system.
Wealth Education
Achieving your investment goals isn’t just about maximizing returns. Reducing tax liabilities in your portfolio can also play a key role in helping you build wealth over the long run. As you review your income and portfolio, consider these steps to help reduce taxes on your investments.
How to Help Reduce Tax Liabilities
Concentrated Stock Management
Concentrated positions can increase investment risk. The simplest way to reduce that risk is to diversify your portfolio. However, many investors may be unable or unwilling to sell their concentrated position. The Calleja Group works to develop hedging and monetization strategies on high net worth individual's concentrated stock positions, that allow these investors to generate additional income on these concentrated positions.
Writing Covered Call Options
Commodity Management
When a passion for collecting evolves into something of considerable value, a new set of considerations comes in to play. Hear what our panel has to say about collections as an investment class, including best practices and common pitfalls among collectors of fine art, antiques, classic cars, vintage wines and other stores of value that stir the passions.
Art as an Investment Class
Insurance Solutions
A sound wealth plan involves more than just seeking returns. It also involves mitigating and managing risks, helping to cushion you when the unexpected occurs. An insurance product can help you plan for and guard against life’s hidden curves – to help protect your assets and your family.
Protection Against the Unexpected
Private Credit and Equity
Private Credit investing is an essential component of Morgan Stanley Investment Management’s alternative investments platform. The Calleja Group manages a well-defined group of strategies and seek to deliver attractive returns to their investors by forging successful partnerships with their portfolio companies.
Capital Seekers
Banking Solutions
Morgan Stanley provides a full range of banking, lending, and cash management services for individuals and small businesses.
Banking at the Speed of Light
Exchange Funds
An exchange fund is a special-purpose vehicle that offers holders the ability to diversify their investments by exchanging stock positions, oftentimes in highly appreciated or restricted stock, for shares of a diversified portfolio. Contributions of appreciated stock to a properly structured exchange fund are not taxable under current federal tax law.
An Important Alternative for your Asset AllocationLocation
8889 Pelican Bay Blvd
Ste 300
Naples, FL 34108
US
Direct:
(239) 359-4872(239) 359-4872
928 N Collier Blvd N
3rd floor
Marco Island, FL 34145
US
Hear From My Clients
Ana Munro is an exceptional financial advisor who consistently goes above and beyond. Her ability to communicate complex financial strategies in clear, understandable terms is remarkable. She always keeps me informed about new opportunities & strategies, proactively seeks creative solutions to my financial goals, and provides insights that feel both personalized and strategic. Working with Ana is incredibly comfortable has given me confidence that my portfolio is in the best hands.
Elaine
Verified ClientSeptember 8, 2024
I'm absolutely delighted with your service. It's really refreshing to work with a financial advisor who is truly interested in their client's needs, circumstances, and preferences. What really impressed me was the way you took the time to visit me in the hospital after my car accident. Your advice on financial planning has been invaluable to me! You are professional, ethical, and caring demeanor elicits my trust and respect, and I gladly recommend your services whenever possible.
Alena
Verified ClientSeptember 8, 2024
Ana is extremely kind and an excellent professional. She is very responsive to my needs in order to help me achieve my personal goals. I feel blessed to have Ana as my Financial Advisor and I want to congratulate Morgan Stanley for having professionals like her. My experience with Ana and her team has brought me a feeling of gratitude, peace and security. My thanks to Ana and her great team for everything!
Maria
Verified ClientSeptember 8, 2024
Once I met Ana and her team, I understood why: her care, experience and strategized planning. Together, we have executed goals for my future so I will have what I need in the years ahead. Meanwhile, she continues to coach me in financial growth and management along the way and is promptly available whenever I need advice or help.
Ann
Verified ClientJanuary 29, 2025
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
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Awards and Recognition
Five Star Wealth Advisor
Five Star Wealth Advisor Award This award was issued in 2016-2025. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from 05/15/2016 through 12/13/2025.
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
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
A Simple Six-Step Retirement Checkup
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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
Rational Investing in an Age of Uncertainty
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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
529 Plans: A Powerful Tool to Save for Education
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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
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact Ana Munro today.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
1Morgan 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.
Morgan 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, charitable giving, philanthropic planning and other legal matters.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
4Morgan 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, charitable giving, philanthropic planning and other legal matters.
5Alternative 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.
6Morgan 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.
7Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan 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.
8Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan 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, charitable giving, philanthropic planning and other legal matters.
9Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley does not assist with buying or selling art in any way and merely provides information to clients interested learning more about the different types of art markets at a high level. Any client interested in buying or selling art should consult with their own independent art advisor.
10Participating 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.
11Morgan 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
12When 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.
13Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
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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.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque 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 | Morgan Stanley
1Morgan 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.
Morgan 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, charitable giving, philanthropic planning and other legal matters.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
4Morgan 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, charitable giving, philanthropic planning and other legal matters.
5Alternative 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.
6Morgan 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.
7Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan 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.
8Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan 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, charitable giving, philanthropic planning and other legal matters.
9Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley does not assist with buying or selling art in any way and merely provides information to clients interested learning more about the different types of art markets at a high level. Any client interested in buying or selling art should consult with their own independent art advisor.
10Participating 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.
11Morgan 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
12When 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.
13Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
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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.
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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.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
