Douglas Behnfield, CFP®
Financial Advisor, Senior Vice President
Phone:
(720) 562-6250(720) 562-6250
Team Behnfield and Guidi at Morgan Stanley
Direct:
(720) 562-6200(720) 562-6200
Our Mission Statement
To provide wealth management resources for a small group of clients who have significant wealth and complex financial planning needs.
Our Story
In our experience, our clients face unique challenges but share several characteristics in common:
• They have all accumulated significant wealth throughout their lives and “Preservation of Capital” is high on their list of investment objectives.
• From a Financial Planning perspective, they prefer to have a comprehensive understanding of how their lifestyle spending relates to their income and longevity.
• They often have questions related to liability planning, gifting and philanthropy
At Team Behnfield and Guidi, we collaborate with our clients on sophisticated and comprehensive financial planning that encompasses not only their investments, but saving strategies, spending priorities and other aspects of their financial lives.
As Morgan Stanley Financial Advisors, we offer access to the extensive resources of one of the world’s most respected financial institutions. When necessary, we can consult with firm professionals in such varied disciplines as Securities Research, Cash Management and Lending, Family Office Resources, Advanced Wealth Planning and Trust Services. These relationships bring additional intellectual capital to our decision-making process and significantly broaden the scope of our capabilities.
We believe that your relationship with your Financial Advisor should ideally rank among the most important in your life. Our clients look to us for personal guidance, advice and support that will make a difference in helping them achieve their most important financial goals. As a result, we invest heavily in our staff and purposely limit our practice to a select, relatively small group of clients.
The term “Family Office Resources” is being used as a term of art and not to imply that Morgan Stanley and/or its employees are acting as a family office pursuant to Investment Advisers Act of 1940.
Morgan 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.
• They have all accumulated significant wealth throughout their lives and “Preservation of Capital” is high on their list of investment objectives.
• From a Financial Planning perspective, they prefer to have a comprehensive understanding of how their lifestyle spending relates to their income and longevity.
• They often have questions related to liability planning, gifting and philanthropy
At Team Behnfield and Guidi, we collaborate with our clients on sophisticated and comprehensive financial planning that encompasses not only their investments, but saving strategies, spending priorities and other aspects of their financial lives.
As Morgan Stanley Financial Advisors, we offer access to the extensive resources of one of the world’s most respected financial institutions. When necessary, we can consult with firm professionals in such varied disciplines as Securities Research, Cash Management and Lending, Family Office Resources, Advanced Wealth Planning and Trust Services. These relationships bring additional intellectual capital to our decision-making process and significantly broaden the scope of our capabilities.
We believe that your relationship with your Financial Advisor should ideally rank among the most important in your life. Our clients look to us for personal guidance, advice and support that will make a difference in helping them achieve their most important financial goals. As a result, we invest heavily in our staff and purposely limit our practice to a select, relatively small group of clients.
The term “Family Office Resources” is being used as a term of art and not to imply that Morgan Stanley and/or its employees are acting as a family office pursuant to Investment Advisers Act of 1940.
Morgan 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.
Services Include
- Financial PlanningFootnote1
- Retirement PlanningFootnote2
- Wealth ManagementFootnote3
- Cash Management and Lending ProductsFootnote4
- 529 PlansFootnote5
- Long Term Care InsuranceFootnote6
- Donor Advised Funds
- Alternative InvestmentsFootnote7
- Trust ServicesFootnote8
- Professional Portfolio ManagementFootnote9
- Municipal BondsFootnote10
- Life InsuranceFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
How We Work with You
An engagement with our team typically begins with a series of discovery conversations. These conversations provide an opportunity to learn about each other. We make a concerted effort to determine whether or not our team will be a good fit for you, by providing a forum for expressing your objectives, philosophies and risk tolerance. We take the time to inform you in detail of the way that we work. Discovery meetings lead to preliminary Financial Planning efforts and Portfolio Allocation recommendations before proceeding with a formal engagement.
The experience that we bring to the table is extensive, highlighted by our Senior Partner’s 43 years length of service as a Financial Advisor. (see Bios). We have learned through experience that extremely wealthy investors tend to have a lower tolerance for risk the wealthier they get. The financial planning process provides a surprising amount of input to the portfolio structure we recommend. This leads us to avoid passive, formulaic portfolio management in favor of a more active, fundamental and conservative approach to asset allocation.
For our clients who are contemplating retirement or are already retired, we are aware of and very sensitive to the dilemma of transitioning from employment income to portfolio income and the stress that goes along with it. Our relationship with our clients is informed by the importance of working to match our clients’ investment strategy with their individual goals and risk tolerance.
The experience that we bring to the table is extensive, highlighted by our Senior Partner’s 43 years length of service as a Financial Advisor. (see Bios). We have learned through experience that extremely wealthy investors tend to have a lower tolerance for risk the wealthier they get. The financial planning process provides a surprising amount of input to the portfolio structure we recommend. This leads us to avoid passive, formulaic portfolio management in favor of a more active, fundamental and conservative approach to asset allocation.
For our clients who are contemplating retirement or are already retired, we are aware of and very sensitive to the dilemma of transitioning from employment income to portfolio income and the stress that goes along with it. Our relationship with our clients is informed by the importance of working to match our clients’ investment strategy with their individual goals and risk tolerance.
A Commitment to Communication
Our clients have been referred to us for a variety of reasons, but the most common refrain has been that they were disappointed in in the level of caring that they received from their former advisor. Often, their disappointment was due to a lack of communication from both a frequency and quality standpoint.
Our client relationships are successful, in part, because of our commitment to ongoing communication. As a Team Behnfield and Guidi client, you can expect a minimum of:
• 8 scheduled monthly calls (or written contacts): We touch base to discuss markets, portfolio positions and current events, both personally and globally.
• 3 formal quarterly review calls: There are several topics during the course of the year that deserve a spot on the agenda of our quarterly calls/meetings. Current market conditions and outlook, Quarterly Portfolio Performance, financial planning and tax planning are a must. In addition, clients experience changes in their environment that impact their financial goals and we need to be informed.
• 1 annual review: The Annual Meeting is the best time to cover Investment Performance within a larger time frame and update your Financial Plan. We typically discuss the year ahead.
Of course, our communication with our clients is not limited to this schedule. You can call us whenever you have a question or concern and be certain that you will always receive prompt and personal attention.
Our client relationships are successful, in part, because of our commitment to ongoing communication. As a Team Behnfield and Guidi client, you can expect a minimum of:
• 8 scheduled monthly calls (or written contacts): We touch base to discuss markets, portfolio positions and current events, both personally and globally.
• 3 formal quarterly review calls: There are several topics during the course of the year that deserve a spot on the agenda of our quarterly calls/meetings. Current market conditions and outlook, Quarterly Portfolio Performance, financial planning and tax planning are a must. In addition, clients experience changes in their environment that impact their financial goals and we need to be informed.
• 1 annual review: The Annual Meeting is the best time to cover Investment Performance within a larger time frame and update your Financial Plan. We typically discuss the year ahead.
Of course, our communication with our clients is not limited to this schedule. You can call us whenever you have a question or concern and be certain that you will always receive prompt and personal attention.
Location
1800 Broadway
Ste 120
Boulder, CO 80302
US
Direct:
(720) 562-6200(720) 562-6200
Meet Team Behnfield and Guidi
Phone:
(720) 562-6226(720) 562-6226
About Douglas Behnfield
Doug brings more than 49 years of financial services experience to every client he advises. He began his career at Merrill Lynch in 1977 after graduating from The University of Colorado with a BA in English. At the time, “Account Executives” were leaving the industry to drive cabs.
Doug was introduced to the senior research staff at Merrill Lynch at the beginning of his career by his father, who had joined Merrill Lynch in 1954. He enjoys a close relationship with several top Wall Street Economists and Investment Strategists. The financial markets and the economy have been Doug’s passion from the beginning.
Today, Doug combines his investment experience with financial planning and advisory for clients while managing and mentoring his team of Financial Advisors. He has earned such prestigious industry designations as Certified Financial Planner, Certified Investment Manager Analyst and Chartered Retirement Plan Specialist. He joined Morgan Stanley in 2019 after establishing Team Behnfield and Guidi at UBS.
Doug and his wife Martha are the parents of four children and the grandparents of eight grandchildren. The family leads an active lifestyle sailing, skiing, traveling, babysitting, and restoring vintage cars.
Doug was introduced to the senior research staff at Merrill Lynch at the beginning of his career by his father, who had joined Merrill Lynch in 1954. He enjoys a close relationship with several top Wall Street Economists and Investment Strategists. The financial markets and the economy have been Doug’s passion from the beginning.
Today, Doug combines his investment experience with financial planning and advisory for clients while managing and mentoring his team of Financial Advisors. He has earned such prestigious industry designations as Certified Financial Planner, Certified Investment Manager Analyst and Chartered Retirement Plan Specialist. He joined Morgan Stanley in 2019 after establishing Team Behnfield and Guidi at UBS.
Doug and his wife Martha are the parents of four children and the grandparents of eight grandchildren. The family leads an active lifestyle sailing, skiing, traveling, babysitting, and restoring vintage cars.
Securities Agent: MN, MA, CA, WY, HI, SC, MT, NJ, UT, NY, IN, NC, KS, RI, OR, NM, ND, FL, CT, NV, GA, CO, AZ, TN; General Securities Representative; Investment Advisor Representative
NMLS#: 1894347
CA Insurance License #: 0H85428
NMLS#: 1894347
CA Insurance License #: 0H85428
About Amelia Guidi
Amelia is a Boulder Native. She attended NYU for 2 years where she played volleyball and tried to survive Manhattan before returning to Boulder to complete her degree in Business Management from the University of Colorado, Leeds School of Business. Amelia began her career in Financial Services in 2007 and joined what would become Team Behnfield and Guidi in 2013.
Over two decades Amelia's role has evolved from Wealth Strategy Associate to Vice President, Financial Advisor. She energetically manages much of the day-to-day business functions of the team while actively participating in the team’s portfolio strategy and trading.
Amelia lives in Longmont and is an active member of her community, recently joining the board of Blue Sky Bridge as well as serving on the Finance and Audit Committee for St. Vrain Valley School District.
Amelia is married and has 2 daughters. She enjoys reading, cooking and painting in her spare time.
Over two decades Amelia's role has evolved from Wealth Strategy Associate to Vice President, Financial Advisor. She energetically manages much of the day-to-day business functions of the team while actively participating in the team’s portfolio strategy and trading.
Amelia lives in Longmont and is an active member of her community, recently joining the board of Blue Sky Bridge as well as serving on the Finance and Audit Committee for St. Vrain Valley School District.
Amelia is married and has 2 daughters. She enjoys reading, cooking and painting in her spare time.
Securities Agent: MN, GA, NV, NJ, NC, MA, UT, SC, RI, MT, KS, HI, CO, FL, AZ, OR, NY, IL, WY, VA, TN, ND, CA, NM, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 1894346
CA Insurance License #: 4072087
NMLS#: 1894346
CA Insurance License #: 4072087
Contact Douglas Behnfield
Contact Amelia Guidi
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
Fred Frillman
Private Banker
About Fred Frillman
Fred Frillman is a Private Banker serving Morgan Stanley Wealth Management offices in Colorado, Utah, and Wyoming.
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.
Fred began his career in financial services in 1995 and joined Morgan Stanley in 2022 as a Private Banker. Prior to joining the firm, he was a Sr. Wealth Management Lending Officer at Bank of America/Merrill Lynch.
Fred is a graduate of the University of Missouri – St. Louis, where he received a Bachelor of Science in Business Administration. He lives in Colorado Springs, Colorado with his family. Outside of the office, Fred enjoys trail running, mountain climbing, skiing, and playing golf. He has completed the Pikes Peak Ascent & Marathon races a combined 7 times. In November of 2023, Fred completed the NYC Marathon as part of the Morgan Stanley & Friends Team that raises funds each year for the American Cancer Society.
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.
Fred began his career in financial services in 1995 and joined Morgan Stanley in 2022 as a Private Banker. Prior to joining the firm, he was a Sr. Wealth Management Lending Officer at Bank of America/Merrill Lynch.
Fred is a graduate of the University of Missouri – St. Louis, where he received a Bachelor of Science in Business Administration. He lives in Colorado Springs, Colorado with his family. Outside of the office, Fred enjoys trail running, mountain climbing, skiing, and playing golf. He has completed the Pikes Peak Ascent & Marathon races a combined 7 times. In November of 2023, Fred completed the NYC Marathon as part of the Morgan Stanley & Friends Team that raises funds each year for the American Cancer Society.
NMLS#: 792152
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan 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
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan 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
Wealth Management
From Our Team
Thoughts on Tariffs, D.O.G.E. and the Wealth Effect
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
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
Iran Conflict: Seven Takeaways for Investors
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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
Article Image
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
Ready to start a conversation? Contact Team Behnfield and Guidi today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
3Morgan 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.
4Morgan 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
5Investors 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.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Alternative 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.
8Morgan 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.
9Morgan 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.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
3Morgan 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.
4Morgan 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
5Investors 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.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Alternative 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.
8Morgan 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.
9Morgan 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.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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
CRC 4665150 (8/2025), 4763067 (9/2025)
