Michael Ryan
Private Banker
David L Cumming, RICP®, CRPS®, CFP®
Senior Vice President,
Financial Advisor,
Corporate Cash Investment Director,
Executive Financial Services Director
Direct:
(518) 581-2007(518) 581-2007
Toll-Free:
(866) 273-3723(866) 273-3723
My Mission Statement
Comprehensive wealth planning strategies for your life and legacy
Biography
David began his career working at People’s Bank managing the bank’s liquidity portfolio where he developed strong relationships with Wall Street Firms. As a result, David went to work for First Boston as an Institutional Fixed Income Trader. Finally joining Morgan Stanley as a Financial Advisor, where he has worked for the last 25 years.
David is FINRA registered and holds Series 7, 8, 63 and 65 licenses and is licensed in 30 states.
David focuses on comprehensive financial planning, risk management, and investment management.
David holds designations of Executive Financial Services Director, Portfolio Manager, CFP®, CRPS®, and RICP®.
David was born in Saratoga Springs, NY and moved back in 2009 after living in Stamford, CT. He attended the University of Bridgeport, earning a Bachelor of Science degree in Finance with a minor in Economics. He is also a 2017 graduate of Leadership Saratoga Program.
David has 4 grown children – 3 sons and 1 daughter. His youngest son served in the Marine Corps from 2015 to 2021.
When he has free time, David enjoys outdoor activities in the Adirondacks – boating, fishing, and especially snow skiing. He is a wine enthusiast and enjoys cooking. David is also involved with the community and serves as a Member of the Board of Directors of Wellspring (formerly known as Domestic Violence and Rape Crisis).
David is FINRA registered and holds Series 7, 8, 63 and 65 licenses and is licensed in 30 states.
David focuses on comprehensive financial planning, risk management, and investment management.
David holds designations of Executive Financial Services Director, Portfolio Manager, CFP®, CRPS®, and RICP®.
David was born in Saratoga Springs, NY and moved back in 2009 after living in Stamford, CT. He attended the University of Bridgeport, earning a Bachelor of Science degree in Finance with a minor in Economics. He is also a 2017 graduate of Leadership Saratoga Program.
David has 4 grown children – 3 sons and 1 daughter. His youngest son served in the Marine Corps from 2015 to 2021.
When he has free time, David enjoys outdoor activities in the Adirondacks – boating, fishing, and especially snow skiing. He is a wine enthusiast and enjoys cooking. David is also involved with the community and serves as a Member of the Board of Directors of Wellspring (formerly known as Domestic Violence and Rape Crisis).
Services Include
Securities Agent: VT, NH, PA, MN, MI, TX, CT, IN, WY, CO, NC, ME, IL, WA, SC, OH, NV, FL, OR, NJ, CA, WI, SD, NY, MD, DC, AZ, RI, VA, MA, GA, UT, NM; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 1326713
NMLS#: 1326713
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
To make the onboarding process as simple as possible we have gathered some of our most essential resources here at Morgan Stanley. You can find more information and steps to getting started below.
Morgan Stanley Online
Your investments and everyday finances are always just a few clicks away with Morgan Stanley Online (MSO) and the Morgan Stanley Mobile App.
Learn more about MSO
How to Access Your Tax Forms
1. Log into your account via Morgan Stanley Online
2. Click the Accounts tab
3. Select the Documents tab
4. Go to the Statement drop-down tab
5. Select Tax Documents and download them
Log in to Morgan Stanley Online2. Click the Accounts tab
3. Select the Documents tab
4. Go to the Statement drop-down tab
5. Select Tax Documents and download them
Total Wealth View
Complete your financial picture with Total Wealth View. By linking your account information, you will benefit from more informed wealth planning, more secure data access, and convenient connectivity.
Learn More About Total Wealth View
Tips to Prepare You for Tax Day
This year, you can get ahead of filing your taxes. To effectively prepare, you should get organized as early as possible. Here are some strategies to consider as the deadline approaches.
See Tax Tips
eDelivery
eDelivery provides you with the ability to view statements and other Firm documents electronically in lieu of paper. Clients who are registered in Morgan Stanley Online may enroll in eDelivery.
Enroll in eDelivery
Wire Transfers
For directions regarding US Dollar denominated wires used to fund Morgan Stanley accounts please reference the link below.
Wire transfer instructions
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, integrated strategy that incorporates the various aspects of an individual’s financial life, including investments and cash management needs.
Goals Planning System
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.
Start Planning Now
Aladdin - Intelligent Risk Management
There’s a chance your portfolio may be at risk, but how you manage that risk is what matters.
Portfolio Risk Platform – Powered by Aladdin is a risk management platform that provides comprehensive risk estimation and reporting across a broad range of asset classes and security types. This platform provides both an overview and a detailed view to better enable risk to be effectively monitored and managed.
Learn morePortfolio Risk Platform – Powered by Aladdin is a risk management platform that provides comprehensive risk estimation and reporting across a broad range of asset classes and security types. This platform provides both an overview and a detailed view to better enable risk to be effectively monitored and managed.
Spending and Budgeting Tool
One way to manage savings is by using Morgan Stanley’s Spending and Budgeting tool. These tools help 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.
Start Using the Tool Today
Strategy - Intelligent Withdrawals
Building wealth is a means to an end. Taxes can eat up a significant portion of your assets upon withdrawal. This is why it's vital to look at your entire portfolio and coordinate liquidation to help reduce the impact of taxes and potentially improve investment results.
The decisions your make today can help you save for years to come. Use the resources found in the link below to help get started.
View Tax-Aware StrategiesThe decisions your make today can help you save for years to come. Use the resources found in the link below to help get started.
Reserved Living & Giving
Save on travel, dining, holiday gifts and more with Morgan Stanley's Reserved Living and Giving program.
Learn about the benefits
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.
Learn More About Digital Vault
Morgan Stanley American Express Credit Card
Check out Morgan Stanley's American Express Credit Card for elevated benefits, 2x membership rewards points on select purchases and more.
Learn more
Cash Flow & Savings
Whether it's building an emergency fund, buying a home, starting a family, or retiring when you want, we want to help you find the best way to save and invest as you strive to meet your financial goals.
Retirement Planning
Leading up to and through retirement, we help ensure that you have the income and resources to live out the lifestyle you envision, while accounting for the unexpected.
Portfolio Management
While there is no secret formula to choosing and managing investments, a methodological, long-term approach, allows us to grasp a comprehensive view of your financial situations to make recommendations that are the best fit for you. We take care of your retirement accounts and other investments based on your comfort level with risk and your current tax circumstances, tailoring your financial strategy to your unique situation, needs, and goals.
Long Term Care
Planning for long-term care is very important for people who may eventually need personal care for short or long periods of time. Preparing and saving for this is crucial for helping loved ones who may need services that help them live as independently and safely as possible without being able to perform every day activities on their own.
Estate Planning
Regardless of your current financial circumstances, it is crucial to have a backup plan for your money in case something happens to you. We regularly review this with you and coordinate with your estate attorney to help ensure that your wishes are met in the most efficient and cost-effective way possible.
Financial Planning
Financial planning brings all aspects of your life together to help create a tailored plan that is uniquely yours while taking into consideration your current financial situation, your career, and your aspirations. We will continuously monitor this plan and make sure you stay on track towards achieving your goals.
2024 Tax Updates
2024 will bring several changes to the U.S. tax code. Select the link below to find information regarding Social Security COLA increases, retirement plan contribution limit increases, and the new tax rates for 2024.
2024 Tax Updates
Second Quarter Financial Newsletter
Dave provides quarterly newsletters to his clients. This edition will feature 5 ways to spring-clean your finances, ways to potentially save on taxes in the future, and 7 ways to conqueror stress.
View Newsletter
Common NFT and Metaverse Scams
As crypto markets evolve, cybercriminals are exploiting them through a variety of schemes. Learn about the basics of NFTs and the Metaverse, and how to stay safe when interacting with them both.
Learn more
GIC Monthly
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.
Read: "GIC on the Markets"
The Next Frontier in AI: Computers That Think Like Humans
Cognitive computing creates potential investment opportunities, as companies develop the technology and use it to transform their business. Learn more below:
Learn more
GIC Weekly
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Read: "GIC Weekly"
Thoughts on the Markets 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.
Podcast: "Thoughts on the Market"
AI and Cybersecurity: A New Era
In the evolving landscape of artificial intelligence (AI), both cybersecurity teams and hackers are using AI to their advantage. This article describes what AI is, the benefits of it, and also how it's being used against us.
Learn moreUpcoming Firm Events
We hope you will join us for this upcoming event.
U.S. Policy Pulse: Trump 2.0 and the Markets
DATE: February 25, 2025 at 4:15 p.m. ETJoin Morgan Stanley Wealth Management Chief Investment Officer, Lisa Shalett, on Tuesday, February 25, for a conversation with Chief Economic Strategist and Global Head of Thematic and Macro Investing, Ellen Zentner, and Head of U.S. Public Policy, Monica Guerra, on the top policy and regulatory actions that could impact investors in the months ahead.
CRC4192005 02/2025
Online
Client Service Team
Joanne Rifenburg - Client Service Associate
Phone:
(518) 583-5609(518) 583-5609
Email:Joanne.Rifenburg@morganstanley.com
Joanne Rifenburg joined Morgan Stanley as a Registered Client Service associate in 2019. Joanne is an integral member of David Cumming’s team and strives to create an atmosphere of ease and attentiveness while understanding the intricate needs of clients.
She acts as the day-to-day point of contact, with the goal of providing clients with quality service and ensuring a positive overall experience. She focuses on assisting clients with administrative and operational support while utilizing her acute attention to detail.
Joanne holds an A.S. degree in Hotel and Restaurant Management from Schenectady Community College. She is fully registered, after obtaining both the Series 7 and Series 66 FINRA licenses.
Joanne resides in Schenectady, NY with her husband Steven and two children Ty and Sydney. In her down time, she enjoys watching movies and outdoor walks.
She acts as the day-to-day point of contact, with the goal of providing clients with quality service and ensuring a positive overall experience. She focuses on assisting clients with administrative and operational support while utilizing her acute attention to detail.
Joanne holds an A.S. degree in Hotel and Restaurant Management from Schenectady Community College. She is fully registered, after obtaining both the Series 7 and Series 66 FINRA licenses.
Joanne resides in Schenectady, NY with her husband Steven and two children Ty and Sydney. In her down time, she enjoys watching movies and outdoor walks.
Location
340 Broadway
Saratoga Springs, NY 12866
US
Direct:
(518) 581-2007(518) 581-2007
Toll-Free:
(866) 273-3723(866) 273-3723
Fax:
(518) 581-6620(518) 581-6620
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
Emilio LaPietra, CFP®
Financial Planning Director, Vice President
Chris Reardon
Planning Associate
About Michael Ryan
Michael Ryan is a Private Banker serving Morgan Stanley Wealth Management offices in New Jersey.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Michael began his career in financial services in 2010 and joined Morgan Stanley in 2017. Prior to joining the firm, he was a Citigold Relationship Manager for Citibank in Queens, NY. Michael was also a Private Client Banker with JP Morgan Chase Bank in New Jersey.
Michael is a graduate of Ramapo College where he received a Bachelor of Science with a concentration in Law and Society Studies. He lives at the Jersey Shore, with his family. Outside of the office, Michael donates his time to the Juvenile Diabetes Research Foundation. He enjoys playing golf, skiing, the beach, and spending time with his family.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Michael began his career in financial services in 2010 and joined Morgan Stanley in 2017. Prior to joining the firm, he was a Citigold Relationship Manager for Citibank in Queens, NY. Michael was also a Private Client Banker with JP Morgan Chase Bank in New Jersey.
Michael is a graduate of Ramapo College where he received a Bachelor of Science with a concentration in Law and Society Studies. He lives at the Jersey Shore, with his family. Outside of the office, Michael donates his time to the Juvenile Diabetes Research Foundation. He enjoys playing golf, skiing, the beach, and spending time with his family.
NMLS#: 600637
About Emilio LaPietra
Emilio LaPietra is a Vice President and Financial Planning Director serving Morgan Stanley’s Wealth Management offices in Central Eastern New York. He is responsible for helping Financial Advisors with their clients' and prospects' financial planning needs.
Emilio began his career in financial services in 2010, and joined Morgan Stanley in 2020. Prior to his current position, he worked at Fidelity Investments.
Emilio graduated from The College of Saint Rose and holds his Certified Financial Planner® designation . He lives in Saratoga Springs, New York.
Emilio began his career in financial services in 2010, and joined Morgan Stanley in 2020. Prior to his current position, he worked at Fidelity Investments.
Emilio graduated from The College of Saint Rose and holds his Certified Financial Planner® designation . He lives in Saratoga Springs, New York.
About Chris Reardon
Chris Reardon is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define goals that matter most to them. Leveraging state of the art technology, he will evaluate various alternatives and their potential outcomes to help clients confidently choose the appropriate course of action. Chris provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from Pace University and received the Financial Planning Specialist® designation from the College for Financial Planning. Chris is originally from New York, NY and currently resides in New York, NY.
He earned his undergraduate degree from Pace University and received the Financial Planning Specialist® designation from the College for Financial Planning. Chris is originally from New York, NY and currently resides in New York, NY.
Private Bankers, Ultra High Net Worth (“UHNW”) Sales Specialists, Lending Advisors, Mortgage Consultants, Relationship Managers, 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
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Are You Prepared for Tax Day?
Article Image
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
Article Image
Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
Article Image
Ready to start a conversation? Contact David L Cumming today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1When 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.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
3Morgan 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.
4When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Alternative 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.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
1When 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.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
3Morgan 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.
4When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Alternative 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.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
CRC 6491812 (04/2024), 3582895 (6/2024)
