Daryl Devorkin
MKE Group at Morgan Stanley
Our Mission Statement
Experience, intellectual capital, and dedicated personal service, to help you meet your life goals.
Our Story and Services
Our goal is to understand your financial needs and then align the resources to help you meet them. We can help you evaluate near-term concerns and plan for long-term goals, be a sounding board for investment ideas, and assist you in developing and executing a strategy that is precisely your own and helps you meet your needs.
Services Include
- Business PlanningFootnote1
- Alternative InvestmentsFootnote2
- 529 PlansFootnote3
- Asset Management
- Corporate Investment SolutionsFootnote4
- Corporate Retirement PlansFootnote5
- Endowments and FoundationsFootnote6
- Estate Planning StrategiesFootnote7
- Executive Financial ServicesFootnote8
- Financial PlanningFootnote9
- Fixed IncomeFootnote10
- Cash Management and Lending ProductsFootnote11
- Life InsuranceFootnote12
- Philanthropic ManagementFootnote13
- Retirement PlanningFootnote14
- Stock Plan ServicesFootnote15
- Structured ProductsFootnote16
- Trust AccountsFootnote17
- Wealth ManagementFootnote18
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
At Morgan Stanley, we believe that identifying potential solutions begins with a solid understanding of each situation, goals, objectives, and risk tolerance. We follow a disciplined process that allows us to work with you to develop a strategy that can help meet your individual financial needs:
Introduction & Getting To Know You
Our initial conversation is built around getting to know everything about your family, goals, lifestyle and hobbies. We will then work together to identify your financial strengths and weaknesses by discussing your current investment portfolio, savings, habits and overall beliefs when it comes to the financial markets. This will allow us to custom tailor a strategy for you and your family.
Delivering Recommendations
The next part of the process is delivering and discussing the most important aspects of your financial picture. This includes discussing tax-efficiency/capital gains, portfolio risk as well as financial & estate planning strategies. Depending on what stage of life you are in we will also discuss education planning, tax-efficient withdrawals/planning for required minimum distributions, and best practices when preparing for retirement. Last but not least we will help optimize your ongoing cash & liability management strategy.
Implementation, Monitoring & Accountability
This is arguably one of the most important parts of the process because it requires action from both you and our team. The recommendations above will need to be implemented both internally here at Morgan Stanley, but more importantly by you making the necessary changes in order to implement the plan discussed above. In order to ensure that the plan is implemented we will meet periodically throughout the year to update your plan and discuss your progress. Client service and communication is paramount, therefore I make myself available for clients as needed.
Get Started
To get started with a complimentary financial plan, please schedule a meeting with us using the link below.
Schedule Meeting
End of Year Items
As we approach 2025, now may make an ideal time to review aspects of your overall strategy. Click below to view five key areas to consider reviewing.
Click to ReadINDIVIDUAL PLANS FOR INDIVIDUALS LIKE YOU
Goals you set today will evolve over time. Our process is designed to evolve with them - and with the changing circumstances of your life. Holistic in its approach, our planning process will encompass all the elements of your financial and personal life, making sure they align with your current and future goals.
Leveraging a sophisticated suite of analytical tools, as well as decades of industry experience, our team can help you take charge of your financial future and achieve your goals.
Leveraging a sophisticated suite of analytical tools, as well as decades of industry experience, our team can help you take charge of your financial future and achieve your goals.
Certified Financial Planner® (CFP®)
CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first.
Jan and Patrick hold this designation.
Jan and Patrick hold this designation.
LifeView Intelligent Planning
LifeView is a suite of planning tools that includes goal-specific analysis that we can use with our clients to create a realistic, holistic strategy that integrates the various aspects of an individual’s financial life, including investments and cash management needs.
Click Here to Learn More
Goals Planning System (GPS)
Goals Planning System (GPS) is Morgan Stanley’s own integrated planning tool. Built on the Firm’s intellectual capital and capabilities, GPS is an intuitive and efficient platform used to quickly assess whether a client is “On Track” to achieving their financial goals.
Click Here to Learn More
Spending and Budgeting Tool
One way to manage savings is by using Morgan Stanley’s Spending and Budgeting tool. This tool helps advisors monitor client cash flows across both internal and external accounts. It also tracks spending patterns and produces an income and expense analysis to help clients achieve their goals by adjusting their spending behavior when necessary.
Click Here to Learn More
Aladdin - Portfolio Risk Tool
The Portfolio Risk Platform integrates the leading risk analytics engine into Morgan Stanley Wealth Management’s platform to improve the quality, transparency, and efficiency of the end to end risk management processes for the Firm and our Clients.
Click Here to Learn MoreWHO WE WORK WITH
Our clients are primarily successful professionals, business owners, executives, families and institutions: some of whom are at the height of their careers, some of whom are approaching retirement, and all of whom are our first priority. We take great pride in the fact that our clients come to us not only for investment assistance, but guidance on virtually all financial matters. We are often asked to meet with children or grandchildren so they can better understand the responsibilities that come with the wealth they will inherit someday. And when we do not have all the answers, we can draw upon the extensive resources of Morgan Stanley, one of the world’s most respected financial services firms.
Business Owners
We play an important role in helping business owners manage their finances and make strategic decisions. We can provide guidance on topics such as cash flow management, investment strategies, risk management, and tax planning strategies. We can help business owners navigate complex financial regulations and provide advice on financial issues that may arise during the life cycle of the business. By working with us, business owners can make informed decisions and better position their business for long-term success.
Working Professionals
Understanding your goals is an important part of our relationship. We provide valuable guidance to working professionals in developing a comprehensive financial plan to achieve your short - and long-term goals. As a team we offer advice on topics such as budgeting, debt management, retirement planning, investment strategies, and tax planning strategies. We help you navigate major life changes such as starting a family, buying a home, or changing careers. Our goal is to help you make informed decisions and take control of your financial future.
Families
Helping families navigate complex financial decisions and develop a plan to achieve their financial goals is something we pride ourselves on. We will provide guidance on topics such as debt management, retirement planning, investment strategies, tax planning, and estate planning strategies. Our team helps families navigate major life events such as marriage, divorce, and the birth or adoption of children. By working with us families can make informed decisions and better position themselves for long-term financial stability and success.
Institutions
We provide valuable experience to institutions such as corporations, non-profit organizations, and government agencies. Offering advice on topics such as investment management, risk management, financial reporting, and employee benefits. We will help you navigate complex financial regulations and provide guidance on major financial decisions such as mergers and acquisitions, initial public offerings, and debt offerings.
Wealth Management
We take a holistic approach to bring all aspects of your financial life together. We use our analysis and experience to develop a customized plan for you.
Retirement Planning
This is paramount and ensuring a successful retirement. We bring intense focus on this process. You have worked hard to get where you are at. Now it is up to us to help you live the retirement you have always dreamed of.
Cash Management and Lending Products
As a Morgan Stanley client, you have access to a comprehensive suite of cash management solutions. This includes eAuthorizations, Bill Pay, Morgan Stanley Debit Cards and more.
Estate Planning Strategies
Helping you achieve your goals for an efficient transfer of wealth to future generations or charities is an area where we have experience and resources to help you.
Alternative Investments
We leverage our unique position and our affiliates to source innovative strategies from among the most knowledgeable investment minds in the business. Our team employs rigorous due diligence to identify, evaluate, and select, each alternative investment product on our platform. We want to identify the managers that we believe are highly qualified to help our clients meet their objectives.
529 College Savings Plans
A 529 Plan can help you pave the way for a loved one on the path to success. The 529 Plan reduces both the income taxes on your investments and the taxable value of your estate for federal estate tax purposes. The combination of income tax-free growth, estate tax benefits, attractive continuous-control features, and versatility, make 529 plans the education investment vehicle of choice.
Life Insurance
Some of the most common uses of life insurance are protection, wealth accumulation, and wealth transfer. Life insurance can provide for dependents and pay for final expenses upon death. Also, life insurance can also play an important role in your portfolio during your lifetime. Many life insurance policies have features that can help individuals meet their financial goals.
Location
411 E Wisconsin Ave
Suite 2200
Milwaukee, WI 53202
US
Direct:
(414) 226-3111(414) 226-3111
11501 N Port Washington Road
Mequon, WI 53092
US
Direct:
(262) 241-1947(262) 241-1947
20975 Swenson Dr
Ste 300
Waukesha, WI 53186
US
Direct:
(414) 266-5150(414) 266-5150
Meet MKE Group
Jan Dyke
Patrick Fennelly
Christopher Czarnecki
Carrie Clarizio
Wealth Management Associate
Phone:
(414) 226-3111(414) 226-3111
Jacqueline Fritz
Portfolio Associate, Financial Planning Specialist
Phone:
(262) 241-1948(262) 241-1948
Erin McGrath
Wealth Management Associate, Financial Planning Specialist
Phone:
(414) 256-2546(414) 256-2546
About Jacqueline Fritz
Jackie has over 26 years of financial services experience, with 21 of them here at Morgan Stanley. She has held various positions within operations & advisor support. Her vast experience has given Jackie an expansive view on the needs and expectations of both the clients and advisors she works with.
Jackie sets high standards and expectations to meet each client’s needs by helping in a timely, friendly, and proactive manner. She has a true love for helping others and is focused on providing excellent customer service.
Jackie lives in Cedarburg with her loving husband, Jim and two children Evelyn & Hunter. She enjoys traveling with her family and has a goal to visit all 50 states. When not traveling she enjoys chauffeuring her kids around, gardening and home improvements.
*This role cannot solicit or provide investment advice.
Jackie sets high standards and expectations to meet each client’s needs by helping in a timely, friendly, and proactive manner. She has a true love for helping others and is focused on providing excellent customer service.
Jackie lives in Cedarburg with her loving husband, Jim and two children Evelyn & Hunter. She enjoys traveling with her family and has a goal to visit all 50 states. When not traveling she enjoys chauffeuring her kids around, gardening and home improvements.
*This role cannot solicit or provide investment advice.
About Erin McGrath
Erin is a Financial Planning Specialist and Portfolio Associate. She has been with Morgan Stanley since 2006. A graduate of Rutgers University- New Brunswick, Erin was born and raised in New Jersey. She moved to Milwaukee soon after graduation and immediately began her career with Morgan Stanley.
Erin has intimate knowledge of corporate processes and procedures. She is highly skilled at solving problems and delivering high-level client service. Erin is dedicated to building personal and professional relationships with clients, while supporting the needs of the financial advisors.
Erin lives in New Berlin with her husband and two children. Outside of the office, she enjoys travelling, volunteering, leading her daughter’s Girl Scout troop, and watching her son play every sport possible. Periodically, Erin travels home to the East Coast to visit family and friends.
*This role cannot solicit or provide investment advice.
Erin has intimate knowledge of corporate processes and procedures. She is highly skilled at solving problems and delivering high-level client service. Erin is dedicated to building personal and professional relationships with clients, while supporting the needs of the financial advisors.
Erin lives in New Berlin with her husband and two children. Outside of the office, she enjoys travelling, volunteering, leading her daughter’s Girl Scout troop, and watching her son play every sport possible. Periodically, Erin travels home to the East Coast to visit family and friends.
*This role cannot solicit or provide investment advice.
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
About Tyson Abert
Tyson R. Abert is a Senior Private Banker serving Morgan Stanley Wealth Management offices in Wisconsin, Northern Ohio and Western Pennsylvania.
Senior 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.
Tyson began his career in financial services in 2004, and joined Morgan Stanley in 2018. Prior to joining the firm, he served as a Business Development Manager and a Senior Relationship Manager at Wells Fargo’s Commercial Banking Services.
Tyson is a graduate of Illinois State University where he received a Bachelor of Science degree in Finance and Accounting, and Lake Forest Graduate School of Management where he received a Master of Business Administration. He and his family currently reside right outside Milwaukee, Wisconsin. Outside of the office, Tyson enjoys golfing, hunting, boating, fishing, and spending time with his family.
Senior 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.
Tyson began his career in financial services in 2004, and joined Morgan Stanley in 2018. Prior to joining the firm, he served as a Business Development Manager and a Senior Relationship Manager at Wells Fargo’s Commercial Banking Services.
Tyson is a graduate of Illinois State University where he received a Bachelor of Science degree in Finance and Accounting, and Lake Forest Graduate School of Management where he received a Master of Business Administration. He and his family currently reside right outside Milwaukee, Wisconsin. Outside of the office, Tyson enjoys golfing, hunting, boating, fishing, and spending time with his family.
NMLS#: 362127
Private Bankers, Ultra High Net Worth ("UHNW") Specialists, PBG Market Managers, Lending Advisors, Mortgage Consultants, Regional Mortgage Specialist, Cash Management Specialists, 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
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 MKE Group 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 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Investors 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.
4Morgan 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.
5When 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.
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, charitable giving, philanthropic planning and other legal matters.
7Morgan 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.
8Morgan 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.
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.
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
12Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Products 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.
14When 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.
15Morgan 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.
16Structured 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.
17Morgan 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.
18Morgan 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.
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.
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 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Investors 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.
4Morgan 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.
5When 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.
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, charitable giving, philanthropic planning and other legal matters.
7Morgan 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.
8Morgan 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.
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.
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
12Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Products 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.
14When 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.
15Morgan 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.
16Structured 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.
17Morgan 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.
18Morgan 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.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)