David Foote
Executive Director, Wealth Advisor, Senior Investment Management Consultant, Senior Portfolio Manager, Alternative Investments Director
Phone:
(302) 573-4043(302) 573-4043
The Greenville Group at Morgan Stanley
Our Mission Statement
A team with stability, experience, and transparency, dedicated to helping clients plan for whatever the future holds.
Welcome
The Greenville Group has over 85 years of combined experience at Morgan Stanley, and they offer their clients a wide range of skills, disciplines, and talents. The Greenville Group has built their practice based off of confidence, and they pride themselves on providing their clients a distinctive experience - one that seeks to build confidence from their clients and eventually leads to multi-generational relationships with families.
The Greenville Group combines their vast industry knowledge with Morgan Stanley's trading and execution platform to help enhance your client experience.
We advise successful individuals, families, executives and business owners who have often accumulated significant wealth, but need help managing and ultimately transferring their assets.
We treasure the long-term relationships formed with our clients and take pride in guiding multi-generational families through life’s financial challenges, while striving to help preserve their family values and legacy.
Often times, big life changes accompany financial decisions—birth, marriage, divorce, retirement, or a death. These can be emotional experiences, which is why we focus on helping our clients navigate their financial strategy with careful guidance.
We are humbled by the opportunity to make a difference in our clients' lives. Sometimes our impact is measured by helping clients achieve their goals. Other times it is less tangible, like the comfort we strive to provide while helping a client implement estate planning strategies after the death of a loved one.
Our clients have worked hard to build meaningful lives. That’s why we believe they deserve an exceptional team who is just as invested as they are in their future.
The Greenville Group combines their vast industry knowledge with Morgan Stanley's trading and execution platform to help enhance your client experience.
We advise successful individuals, families, executives and business owners who have often accumulated significant wealth, but need help managing and ultimately transferring their assets.
We treasure the long-term relationships formed with our clients and take pride in guiding multi-generational families through life’s financial challenges, while striving to help preserve their family values and legacy.
Often times, big life changes accompany financial decisions—birth, marriage, divorce, retirement, or a death. These can be emotional experiences, which is why we focus on helping our clients navigate their financial strategy with careful guidance.
We are humbled by the opportunity to make a difference in our clients' lives. Sometimes our impact is measured by helping clients achieve their goals. Other times it is less tangible, like the comfort we strive to provide while helping a client implement estate planning strategies after the death of a loved one.
Our clients have worked hard to build meaningful lives. That’s why we believe they deserve an exceptional team who is just as invested as they are in their future.
Our Beliefs
- Delivering world-class service – with time-honored skills, dedicated professionalism, and responsive care.
- Communicating regularly. Consistent communication ensures that we are up to date with all your financial goals and objectives. This allows us to adjust financial strategies when your needs or objectives change.
- Personalizing investment portfolios to best suit your goals. We don’t use cookie-cutter investment strategies for our clients.
- Creating plans that are proactive, rather than reactive.
- Leveraging the global resources of Morgan Stanley to help you build and preserve your wealth.
- Collaborating with your other dedicated advisors; including attorneys and CPAs. To help ensure your financial strategy is both coordinated and comprehensive.
- Taking personal accountability and doing the right thing for our clients.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Working With Our Team
We advise successful individuals, families, executives and business owners who have often accumulated significant wealth, but need help managing and ultimately transferring their assets.
We treasure the long-term relationships formed with our clients and take pride in guiding multi-generational families through life’s financial challenges, while preserving their family values and legacy.
Often times, big life changes accompany financial decisions—birth, marriage, divorce, retirement, or a death. These can be emotional experiences, but with careful guidance, we help our clients ensure that with everything else they have to worry about, their financial strategy is being well managed.
We are humbled by the opportunity to make a difference in our clients' lives. Sometimes our impact is measured by returns on an investment, or securing the funds to send a child to college. Other times it is less tangible, like the comfort we provide while helping a client implement estate planning strategies after the death of a loved one.
Our clients have worked hard to build meaningful lives. That’s why we believe they deserve an exceptional team who is just as invested as they are in their future.
We treasure the long-term relationships formed with our clients and take pride in guiding multi-generational families through life’s financial challenges, while preserving their family values and legacy.
Often times, big life changes accompany financial decisions—birth, marriage, divorce, retirement, or a death. These can be emotional experiences, but with careful guidance, we help our clients ensure that with everything else they have to worry about, their financial strategy is being well managed.
We are humbled by the opportunity to make a difference in our clients' lives. Sometimes our impact is measured by returns on an investment, or securing the funds to send a child to college. Other times it is less tangible, like the comfort we provide while helping a client implement estate planning strategies after the death of a loved one.
Our clients have worked hard to build meaningful lives. That’s why we believe they deserve an exceptional team who is just as invested as they are in their future.
Our Beliefs
• Delivering first-class service in a first-class way – with time-honored skills, top-tier professionalism, and responsive care.
• Communicating regularly. Consistent communication ensures that we are up to date with all your financial goals and objectives. This allows us to adjust financial solutions when your needs or objectives change.
• Personalizing investment portfolios to best suit your goals. We don’t use cookie-cutter investment solutions for our clients.
• Creating plans that are proactive, rather than reactive.
• Leveraging the global resources of Morgan Stanley to help you build and preserve your wealth.
• Collaborating with your other trusted advisors; including attorneys and CPAs. Ensuring your financial strategy is both coordinated and comprehensive.
• Taking personal accountability and doing the right thing for our clients.
• Communicating regularly. Consistent communication ensures that we are up to date with all your financial goals and objectives. This allows us to adjust financial solutions when your needs or objectives change.
• Personalizing investment portfolios to best suit your goals. We don’t use cookie-cutter investment solutions for our clients.
• Creating plans that are proactive, rather than reactive.
• Leveraging the global resources of Morgan Stanley to help you build and preserve your wealth.
• Collaborating with your other trusted advisors; including attorneys and CPAs. Ensuring your financial strategy is both coordinated and comprehensive.
• Taking personal accountability and doing the right thing for our clients.
VALUABLE TOOLS AND RESOURCES
Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies we have to offer our clients. We have also included resources meant to transform complex financial analysis and research into concise and easily digestible content.
Secure Email
At Morgan Stanley, safeguarding your personal information is among our highest priorities. Our Secure Email tool is a safe way for you to exchange messages and documents containing sensitive information.
Secure Email & Protecting Yourself
Global Investment Committee on the Markets
A monthly publication that summarizes the Global Investment Committee’s market outlook and contains thought-provoking essays that examine the forces shaping the investment landscape. Check out this month's edition here.
Read The Latest Report
Morgan Stanley Online & MSMobile
Morgan Stanley Online (MSO) has a variety of features beyond viewing your account balance and activity. Features include paperless documents, bill pay and secure account management.
Morgan Stanley Online
Global Investment Committee Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Access This Week's Edition
Digital Vault
The Digital Vault on Morgan Stanley Online and the Mobile App allows you and your clients to build a central, shared document library where all documents are stored using encryption.
Digital Vault
Thoughts On the Market Podcast
With perspectives on the forces shaping the market, join Morgan Stanley's Chief Investment Officer and Chief US Equity Strategist as he and his colleagues discuss their viewpoints regarding the latest trends in the financial marketplace.
Thoughts On the Market Podcast
eAuthorization
eAuthorization (eAuth) allows clients to electronically authorize domestic and international, one-time/recurring transactions through Morgan Stanley Online and the Morgan Stanley Mobile App.
eAuthorizationDesignations & Awards
Barron’s Top 1,200 Financial Advisors: State-by-State
Barron’s Top 1,200 Financial Advisors: State-by-State rankings are based on data provided by around 6,000 of the nation's most productive advisors. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice, and philanthropic work. David Foote has been named in the 2022 rankings for the state of Delaware.
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2022) Data compiled by Barron's based on time period from Sept 2020 - Sept 2021.
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2022) Data compiled by Barron's based on time period from Sept 2020 - Sept 2021.
Workplace Advisor- Equity Compensation
A Morgan Stanley Workplace Advisor for Equity Compensation is a Financial Advisor who is knowledgeable with a focus in workplace benefits. They can help determine how your equity compensation fits into your overall goals and financial strategy.
Workplace Advisors for Equity Compensation are positioned to service and educate on the full suite of workplace benefits and can help you address questions related to grants / awards, vesting events, restricted stock units, and more.
Workplace Advisors for Equity Compensation are positioned to service and educate on the full suite of workplace benefits and can help you address questions related to grants / awards, vesting events, restricted stock units, and more.
CFP®- Certified Financial Planner™
A CFP® is a financial advisor that has earned a certified designation that demonstrates an in-depth knowledge of financial planning. Earning the CFP® designation involves meeting requirements in four areas: formal education, performance on the CFP exam, relevant work experience, and demonstrated professional ethics.
A CFP® can advise you on everything from choosing specific investments, saving for a down payment on a home and planning for retirement.
A CFP® can advise you on everything from choosing specific investments, saving for a down payment on a home and planning for retirement.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
500 Dupont Field Blvd
Suite 300
Greenville, DE 19807
US
Direct:
(302) 573-4043(302) 573-4043
Meet The Greenville Group
Allison Turner, CFP®
Associate Vice President, Financial Advisor, Financial Planning Specialist
Phone:
(302) 573-4042(302) 573-4042
Phone:
(302) 573-4060(302) 573-4060
Phone:
(302) 657-2012(302) 657-2012
Keith Kepplinger
Assistant Vice President, Financial Advisor
Phone:
(302) 797-7204(302) 797-7204
David Benway
Senior Vice President, Financial Advisor
Phone:
(302) 797-7203(302) 797-7203
Amy Mottola
Senior Registered Associate
Phone:
(302) 573-4033(302) 573-4033
About David Foote
David Foote is a Senior Portfolio Manager and Wealth Advisor with over 26 years of experience in the financial services industry. He launched his career at Morgan Stanley in 1999, starting on the equity block trading desk. Since then, he has earned repeated recognition for his experience, including being named to Forbes' Best in State Wealth Advisors list from 2019 to 2026 and the Barron's Top 1,200 Financial Advisors: State-by-State Ranking in 2022.
David focuses on advising high-net-worth families and leveraging his deep industry knowledge and the full resources of Morgan Stanley to help clients manage their complex financial needs. He is committed to helping clients create lasting legacies by providing guidance and equipping clients with the tools and strategies designed to address their long-term financial goals.
He resides in Maryland with his wife and two children. Outside of work, David enjoys the outdoors, golf, and coaching youth lacrosse.
Disclosures:
2022 Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2022) Data compiled by Barron's based on time period from Sept 2020 - Sept 2021.
2019-2026 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
David focuses on advising high-net-worth families and leveraging his deep industry knowledge and the full resources of Morgan Stanley to help clients manage their complex financial needs. He is committed to helping clients create lasting legacies by providing guidance and equipping clients with the tools and strategies designed to address their long-term financial goals.
He resides in Maryland with his wife and two children. Outside of work, David enjoys the outdoors, golf, and coaching youth lacrosse.
Disclosures:
2022 Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2022) Data compiled by Barron's based on time period from Sept 2020 - Sept 2021.
2019-2026 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Securities Agent: PA, CT, OK, MT, MS, OH, NV, GA, DC, WA, NM, NH, WV, DE, SC, NC, AZ, TN, VA, NJ, MA, IL, ME, CO, TX, RI, MD, CA, WY, OR, NY, IN, FL; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1285131
NMLS#: 1285131
About Allison Turner
Allison Turner is a Financial Advisor and CERTIFIED FINANCIAL PLANNER™ with 19 years of experience in the financial services industry. Allison began her career at Morgan Stanley as a Client Service Associate and later became a Financial Advisor and partner in The Greenville Group. She obtained her Bachelor’s degree from the University of Delaware and has an M.B.A. in Finance from Wilmington University.
Allison is passionate about helping clients feel sure about their future. She works collaboratively with clients to construct a financial plan that fits their individual needs. Allison understands no two people have the same goals and objectives for the future, thus, no two plans should be the same.
In her spare time Allison cherishes spending time with family and friends, being on the water, and traveling.
Allison is passionate about helping clients feel sure about their future. She works collaboratively with clients to construct a financial plan that fits their individual needs. Allison understands no two people have the same goals and objectives for the future, thus, no two plans should be the same.
In her spare time Allison cherishes spending time with family and friends, being on the water, and traveling.
Securities Agent: RI, OH, OK, NV, NM, NJ, MT, ME, GA, TN, MA, CA, VA, SC, PA, MS, CO, WA, NY, IN, WY, NH, NC, DC, CT, AZ, MD, IL, FL, WV, OR, DE, TX; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 2141436
NMLS#: 2141436
About Todd P. Anderson
Todd is a Senior Vice President at Morgan Stanley with over 37 years of experience as a Financial Advisor.
Todd assists clients in wealth accumulation, preservation and transfer through customized wealth management advice. His work includes providing comprehensive strategies for high net worth individuals and families, and advising corporations and nonprofit organizations on their cash management and institutional investment needs. Todd also works closely with his clients' other advisors to focus on their total wealth management goals, including tax minimization and estate planning strategies.
Todd graduated Magna Cum Laude from Duke University with a B.A. degree in Economics. As a collegiate golfer he was a two-time Academic All-American, and also played professional golf prior to starting his career in the financial services industry. Besides spending time with his family, Todd enjoys playing competitive squash and is co-founder of the Delaware State Squash Association, and a founding board member of First State Squash, an academic and athletic youth program in Wilmington, Delaware.
Todd assists clients in wealth accumulation, preservation and transfer through customized wealth management advice. His work includes providing comprehensive strategies for high net worth individuals and families, and advising corporations and nonprofit organizations on their cash management and institutional investment needs. Todd also works closely with his clients' other advisors to focus on their total wealth management goals, including tax minimization and estate planning strategies.
Todd graduated Magna Cum Laude from Duke University with a B.A. degree in Economics. As a collegiate golfer he was a two-time Academic All-American, and also played professional golf prior to starting his career in the financial services industry. Besides spending time with his family, Todd enjoys playing competitive squash and is co-founder of the Delaware State Squash Association, and a founding board member of First State Squash, an academic and athletic youth program in Wilmington, Delaware.
Securities Agent: FL, TX, NM, NC, ME, CA, OK, TN, CO, MT, IN, SC, NY, DE, DC, NJ, MD, WY, OR, NH, OH, NV, IL, GA, WA, CT, AZ, VA, RI, MA, WV, PA, MS; General Securities Representative; Investment Advisor Representative
NMLS#: 524316
NMLS#: 524316
About Fletcher King
Fletcher King, Vice President, Financial Advisor, Senior Portfolio Advisor and Certified Exit Planning Advisor (CEPA®) has over 30 years’ experience in finance and investments. As a CEPA®, he helps companies understand and apply methods designed to help accelerate value in the financial markets while seeking to ensure that owners optimize their personal and financial goals. Fletcher serves as a financial advisor on wealth for families, financial services for companies and asset management for endowments. Prior to joining Morgan Stanley, Fletcher was the Global Finance Manager for DuPont’s biotechnology business (New England Nuclear, Inc.), and held a variety of positions in corporate finance, corporate cash management, and technology acquisitions. He received his BS in Economics from the University of Delaware and an MBA in Finance from Washington University in St. Louis.
Fletcher has served as President of the World Affairs Council of Delaware, Trustee of the New Castle Presbytery, Treasurer of Greenville Country Club, and board memberships on Winterthur Business Associates, Arthritis Foundation of Delaware, Greenbank Mill Historic District, Brandywine Pastoral Institute, and Westminster Church.
Fletcher has served as President of the World Affairs Council of Delaware, Trustee of the New Castle Presbytery, Treasurer of Greenville Country Club, and board memberships on Winterthur Business Associates, Arthritis Foundation of Delaware, Greenbank Mill Historic District, Brandywine Pastoral Institute, and Westminster Church.
Securities Agent: MN, KS, WI, MT, ME, IA, TN, NC, MD, DE, CO, RI, OH, NH, VA, OK, CT, WV, CA, UT, NM, MI, HI, AZ, WA, PA, NY, MO, MA, IL, GA, FL, NE, MS, LA, AL, WY, VT, TX, OR, KY, IN, DC, SC, NV, NJ; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1297949
NMLS#: 1297949
About Keith Kepplinger
Keith Kepplinger is a member of the Greenville Group at Morgan Stanley Wealth Management. From a young age, he was instilled with the values of service, commitment and responsiveness by working in the family-owned business. He believes the best way to develop a strong client relationship is by engaging in frequent, meaningful dialogue. In doing so, he helps to discern the client’s key priorities, goals and aspirations; mapping them to the resources of Morgan Stanley in order to help them pursue their financial future.
Keith joined Morgan Stanley from Merrill Lynch, working at J.P. Morgan Private Bank prior to that. He brings more than 10 years of financial experience, working directly with high-net-worth families, private business owners, corporate executives, and not-for-profit organizations to help deliver the sophisticated capabilities of the firm. He assists each client with strategies designed to help meet a comprehensive range of wealth management goals, targeting customized needs for cash management and lending solutions, philanthropic giving, trust and estate planning strategies, asset allocation and tax-efficient investment planning strategies.
Keith began his professional career managing a family-owned franchise until its successful exit in 2000. This firsthand perspective into the unique concerns of startups and business owners has positioned him to guide entrepreneurs through the many stages of succession and pre-transaction planning.
A graduate of John Carroll University in Ohio, Keith holds a B.A. in Economics and earned an M.B.A. from North Carolina State University.
Keith and his wife, Stephanie, reside in Middletown, Delaware, with their three children and serves as a board member for The Ronald McDonald House of Delaware. He enjoys the outdoors and can often be found coaching soccer or playing golf.
Disclosures:
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.
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
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Keith joined Morgan Stanley from Merrill Lynch, working at J.P. Morgan Private Bank prior to that. He brings more than 10 years of financial experience, working directly with high-net-worth families, private business owners, corporate executives, and not-for-profit organizations to help deliver the sophisticated capabilities of the firm. He assists each client with strategies designed to help meet a comprehensive range of wealth management goals, targeting customized needs for cash management and lending solutions, philanthropic giving, trust and estate planning strategies, asset allocation and tax-efficient investment planning strategies.
Keith began his professional career managing a family-owned franchise until its successful exit in 2000. This firsthand perspective into the unique concerns of startups and business owners has positioned him to guide entrepreneurs through the many stages of succession and pre-transaction planning.
A graduate of John Carroll University in Ohio, Keith holds a B.A. in Economics and earned an M.B.A. from North Carolina State University.
Keith and his wife, Stephanie, reside in Middletown, Delaware, with their three children and serves as a board member for The Ronald McDonald House of Delaware. He enjoys the outdoors and can often be found coaching soccer or playing golf.
Disclosures:
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.
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
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Securities Agent: KY, KS, AL, WY, TX, NM, NE, MI, LA, WI, VA, MA, IA, GA, DE, AZ, MN, DC, CA, WV, VT, OR, HI, FL, CO, WA, PA, OK, NV, MT, ME, IN, SC, RI, NY, NH, MO, IL, CT, NJ, UT, TN, OH, MD, NC, MS, AK; General Securities Representative; Investment Advisor Representative
NMLS#: 2428423
NMLS#: 2428423
About Me
With more than 30 years on Wall Street managing complex client situations, David works with affluent families and accomplished professionals who value discretion, thoughtfulness, and a highly personalized approach to managing significant wealth. He strives to bring a blend of insight, steadiness, and refined judgment to every client relationship.
David works with a select group of high-net-worth and ultra-high-net-worth families, private business owners, senior corporate leaders, and medical professionals. His practice is rooted in a boutique-style philosophy: delivering customized investment management, access to lending solutions, estate planning strategies, and wealth preservation strategies tailored to each client’s unique goals, family dynamics, and long-term aspirations. Using his extensive market experience, he aims to help simplify complex issue and preserve multigenerational wealth with care.
Throughout his career, he has worked at some of the industry’s most respected firms prior to Morgan Stanley, including Merrill Wealth Management, J.P. Morgan Private Bank, Vision Capital Advisors, Twin Capital Management, Radcliffe Group, and BNP Cooper Neff Advisors. He began his career at Goldman Sachs in New York—an experience that helped shape his disciplined, research-driven approach to wealth management.
David’s dedication to service extends beyond his professional work. He has held leadership roles in several cultural and philanthropic organizations, including the Commanderie de Bordeaux in Philadelphia, Wayne Presbyterian Church, the American Red Cross of Eastern Pennsylvania, and the Pennsylvania Academy of Fine Arts. His involvement reflects a long-standing commitment to community, culture, and global perspective.
A graduate of Mercersburg Academy and St. Lawrence University, David earned his M.B.A. in Finance from the NYU Stern School of Business. Outside the office, he enjoys fine woodworking, the outdoors, and golf—pursuits that mirror the patience, craftsmanship, and balance he brings to his financial advisor practice. David lives with his family in Chadds Ford, Pennsylvania.
David works with a select group of high-net-worth and ultra-high-net-worth families, private business owners, senior corporate leaders, and medical professionals. His practice is rooted in a boutique-style philosophy: delivering customized investment management, access to lending solutions, estate planning strategies, and wealth preservation strategies tailored to each client’s unique goals, family dynamics, and long-term aspirations. Using his extensive market experience, he aims to help simplify complex issue and preserve multigenerational wealth with care.
Throughout his career, he has worked at some of the industry’s most respected firms prior to Morgan Stanley, including Merrill Wealth Management, J.P. Morgan Private Bank, Vision Capital Advisors, Twin Capital Management, Radcliffe Group, and BNP Cooper Neff Advisors. He began his career at Goldman Sachs in New York—an experience that helped shape his disciplined, research-driven approach to wealth management.
David’s dedication to service extends beyond his professional work. He has held leadership roles in several cultural and philanthropic organizations, including the Commanderie de Bordeaux in Philadelphia, Wayne Presbyterian Church, the American Red Cross of Eastern Pennsylvania, and the Pennsylvania Academy of Fine Arts. His involvement reflects a long-standing commitment to community, culture, and global perspective.
A graduate of Mercersburg Academy and St. Lawrence University, David earned his M.B.A. in Finance from the NYU Stern School of Business. Outside the office, he enjoys fine woodworking, the outdoors, and golf—pursuits that mirror the patience, craftsmanship, and balance he brings to his financial advisor practice. David lives with his family in Chadds Ford, Pennsylvania.
Securities Agent: OK, DC, TX, IL, CA, RI, MN, HI, GA, AZ, WY, TN, SC, PA, OR, NY, NJ, NE, NC, KS, WV, MS, IA, FL, DE, AL, WI, VA, NV, NH, MO, MI, MA, IN, CO, WA, KY, AK, VT, MT, OH, UT, ME, CT, NM, MD, LA; General Securities Representative; Investment Advisor Representative
NMLS#: 2424504
NMLS#: 2424504
About Amy Mottola
Amy Mottola has more than 17 years of experience in the financial services industry and holds her SIE, Series 7 and Series 66. Amy has a Bachelor’s degree from the University of Delaware and a Master’s degree from Wilmington University. A native Delawarean, Amy resides in Wilmington with her husband and has two grown daughters. When she is not working, Amy enjoys playing pickleball, traveling, and spending time with her family.
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Financial Planning for Life After Selling a Business
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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 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan 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.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley 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.
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.
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
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan 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.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley 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.
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.
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
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 5378280 (5/2026)
