Denine Bergeland, CFP®
Managing Director, Financial Advisor, Senior Portfolio Management Director, Workplace Advisor - Equity Compensation, CERTIFIED FINANCIAL PLANNER®
Phone:
(952) 475-4317(952) 475-4317
The Bergeland Pasqua Wealth Management Group at Morgan Stanley
Our Mission Statement
By fostering a collaborative and transparent relationship, we empower our clients to make informed choices in pursuit of their financial goals.
Our Story and Services
Today's Decisions. Tomorrow's Impact.
Your wealth doesn't move in straight lines. It compounds through timing, structure, and decisions that reveal their weight years later. At The Bergeland Pasqua Wealth Management Group at Morgan Stanley, we operate with a simple mission: to help you think three steps ahead of your decisions, reviewing the implications of your choices to provide perspective and prepare you for your future. Because at this level, reacting is expensive, and anticipation is invaluable.
When Capital Gets Complicated
Our clients aren't looking for basic direction. Many navigate sophisticated business ownership, equity compensation, liquidity events, concentrated positions, and legacy planning, often all at once. Others are building careers, growing their families, or making important financial decisions for the first time. Whatever your life stage, our work isn't just "managing wealth." It's sequencing decisions — and aligning them with your values — so one move doesn't create unintended consequences elsewhere.
Built Like a Family Office
- 150+ years of combined experience — advising families and individuals
- Nationally Recognized Industry Credentials — Chartered Financial Analyst®, three Certified Financial Planners®, Certified Exit Planning Advisor®
- Leading Firm Designations — Senior Portfolio Management Director, Alternative Investments Director, Family Wealth Director (held by ~6% of Morgan Stanley advisors nationwide), Workplace Advisor – Equity Compensation, Lending Specialist
- Tax and Estate Planning Depth — from a former Certified Public Accountant (non-practicing) and former estate attorney (non-practicing)
Different Perspectives. One Team.
Our team is intentionally multigenerational and diverse in both gender and perspective, representing different lived experiences, professional backgrounds, and ways of thinking. That mix matters when clients are making decisions that cut across generations. It also means our conversations are layered, thoughtful, and closer to how real families and real businesses actually operate.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Case Study: Another Set of Eyes
One client had spent years building a strong financial base after retirement, the kind of position where new opportunities are always showing up. At one point, a larger real estate investment came onto their radar. It was something they felt ready to jump into. But when they came to us with the idea, we insisted on taking a beat to look at the bigger picture. What this would mean for liquidity? How much risk would the client be taking on? Where did it fit in their broader plan? After working through that together, the client ultimately decided not to move forward. A little later on, that decision proved to be an important one — because the housing market took a significant downturn. The takeaway here is simple: our job isn't to say yes or no to opportunities. It's to make sure each decision still makes sense three or four steps down the line.
Takeaway: Opportunities can seem compelling in the moment. We help you decide if they will remain aligned with your broader plan long-term.
Case Study: Estate Planning
The real work with estate planning starts long before any documents get signed. Instead, it begins with trust. The kind of trust that allows practical questions — how accounts are titled, how wealth actually gets passed down — to naturally open the door to deeper conversations. For one client, that meant working through nuanced questions: how to think about fairness among children who were in very different stages of life, how to be thoughtful about a second marriage without creating tension, and how to make sure no one was left guessing about intent. Nothing about the process was rushed or forced. It worked because there was enough comfort in the relationship to speak candidly about the kinds of topics families often delay until they become urgent.
Takeaway: Family and wealth decisions are rarely simple. We help you navigate them thoughtfully, so your intentions are clearly understood and carried out.
Case Study: A Tax Surprise
In one situation, a client reached out after receiving a tax outcome from their accountant that seemed unusually high and out of line with prior expectations. The client was justifiably distressed, so our team went that same day to their home, sitting down at the kitchen table to review the situation together in detail. Drawing on our deep tax experience, which includes a background as a CPA (non-practicing), we then worked in coordination with the client's accountant to develop a strategy that would save the client a significant amount that year. But what mattered most wasn't just resolving a single year's question — it was reinforcing that when questions arise, there is a team willing to show up quickly, engage directly, and work through it alongside the client.
Takeaway: What you keep matters just as much as what you earn. We bring the tax awareness and coordination to help ensure more of your wealth stays working for you.
Disclosures
Case studies Are hypothetical and presented for illustrative purposes only. The facts involved do not represent the actual experience of any specific client. Each client's situation is different and a client's experience and any recommendations made to a client will vary depending on the specific facts and circumstances involved. Past performance is no guarantee of future results. These strategies do not guarantee a profit or protect against loss and may not be appropriate for all investors.
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 matters involving trusts, estate planning, charitable giving, philanthropic planning or other legal matters.
For families, wealth raises questions that are deeply personal. How do you support without overstepping? How do you plan in a way that reflects different roles within a family — whether that means spouses, partners, children or blended family structures? How do you make sure everyone feels seen and considered, without losing clarity or direction?
These are not abstract planning issues — they are lived realities unique to each family we serve. And often, they are not easy conversations. They involve care, patience, and a real understanding that people don't always arrive at the same place emotionally, even when they share the same goals.
A Team Built for Real Family Dynamics
Our team is intentionally multigenerational and diverse in both experience and background, including both men and women at different stages of their careers. That range allows us to provide more than just continuity of care. It also helps us connect naturally across different members of your family — whether that means a first conversation with the next generation, a working dialogue with parents or grandparents, or coordinating across multiple households and relationships.
The Perspective of a Family Wealth Director
The Family Wealth Director designation is held by just 6% of financial advisors across Morgan Stanley. Team member Nicole Scanlon is one of them. In practice, that means we bring an intensive focus and elite capabilities to our work with families: guiding estate and trust coordination, helping structure wealth transfer strategies across generations, supporting family governance and communication frameworks, and ensuring that planning decisions are integrated rather than siloed across accounts, households, or advisors.
The Bottom Line
We work with many of our clients across two and even three generations. There's a reason: Over time, families come to value not just the advice itself, but the consistency, clarity, and continuity that builds a legacy of excellence.
At The Bergeland Pasqua Wealth Management Group, we are educators in the truest sense of the word. Our team has both the credentials to provide cutting-edge insight, and the experience to know how to put those insights into practice. As our client, you'll understand what you own, what the tradeoffs are of your decisions, and what each choice may mean five or ten years from now.
For Business Owners: Seeing Beyond the Company
Many business owners know their company intimately, yet spend little time focusing on how that success connects to their personal balance sheet. We help educate entrepreneurs around concentration risk, liquidity planning, succession options, tax exposure, and what life after a sale may realistically look like.
For Professional Athletes: Building Perspective
Athletes often face major financial decisions early, while careers are moving quickly and attention is pulled in many directions. Education here means slowing down. Helping clients understand cash flow, taxes, long-term investing, lifestyle sustainability, and the difference between income that feels permanent and income that may be temporary. It means creating perspective during years when life can move faster than reflection.
For High-Income Professionals: Turning Income Into Intentional Wealth
Physicians, dentists, attorneys, and other high-performing professionals often earn exceptionally well while having very little time to organize that success. We help clients understand where money is going, how to optimize cash flow, when debt is strategic versus burdensome, and how to convert strong earnings into lasting wealth rather than simply a higher-cost lifestyle.
For Corporate Executives: Making Complexity Understandable
Executives are often compensated in ways that look attractive on paper but carry real complexity — restricted stock, options, deferred compensation, concentrated equity, and tax-sensitive timing decisions. We help clients understand how each component works, what risks it creates, and how it fits into a broader strategy.
For the Rising Generation: Confidence Before Responsibility
When children of successful families begin stepping into adulthood, access to wealth without understanding can create anxiety as easily as opportunity. We help younger family members build fluency gradually — how cash flow works, how investing compounds, how borrowing should be evaluated, how taxes affect decisions, and how to think about stewardship rather than entitlement.
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.
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
GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Read The Latest Report
Goals Based Planning
Working with us, paired with our technology, is a great way to access advice and build a wealth plan. Read more about the advantages of working with our planning technology in reaching your financial goals.
Learn About Our Planning Tools
On The Markets Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
Read The Latest Report
Online Security Center
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
Learn More About Online Security
CashPlus
CashPlus is a program that recognizes and rewards clients for choosing Morgan Stanley for their everyday cash management needs. This program provides clients with select benefits, savings, and enhanced services.
Learn More
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
Thoughts On The Market Podcast
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Check Out The Latest Episode
Private Markets
Many of today’s companies stay private longer, with more of their valuation being created before they become publicly traded. Morgan Stanley Private Markets connects a broad network of potential private investors in an accessible ecosystem, allowing eligible clients to buy and sell securities of private companies.
Morgan Stanley Private Markets
Beyond the Fairway: Insights from Justin Rose
Join Morgan Stanley for an exclusive virtual fireside chat featuring Vince Lumia, Head of Wealth Management Client Segments, and Justin Rose , renowned professional golfer, Olympic gold medalist and Morgan Stanley Brand Ambassador. Justin will provide exclusive insights into:
• His storied career journey
• Key strategies that have contributed to his success in golf, including this summer's FedEx St. Jude Championship playoff win
• Upcoming Ryder Cup at Bethpage Black where he will be playing for Team Europe
• The mental and physical preparation required for major tournaments
Watch Replay• His storied career journey
• Key strategies that have contributed to his success in golf, including this summer's FedEx St. Jude Championship playoff win
• Upcoming Ryder Cup at Bethpage Black where he will be playing for Team Europe
• The mental and physical preparation required for major tournaments
American Exceptionalism: The Great Rebalancing
In case you missed it, we invite you to watch the replay from our thought-provoking American Exceptionalism: The Great Rebalancing event with Lisa Shalett and Michael Mauboussin, recorded on Monday, September 8. In this conversation, Lisa and Michael discussed:
• The potential impact of elevated federal debt and deficits and structural imbalances in wealth/income inequality on economic growth and inflation
• Key sector trends contributing to the Great Rebalancing, including tech and energy
• The rising importance of an actively managed, diversified portfolio with exposure to global and value-oriented securities
Watch Replay• The potential impact of elevated federal debt and deficits and structural imbalances in wealth/income inequality on economic growth and inflation
• Key sector trends contributing to the Great Rebalancing, including tech and energy
• The rising importance of an actively managed, diversified portfolio with exposure to global and value-oriented securities
Exclusive Event: The Impact of AI Robots on the Economy
Join Wealth Management's Global Head of Thematic & Macro Investing Ellen Zentner for a fireside chat with Morgan Stanley's Head of Global Autos and Shared Mobility Research Adam Jonas for a conversation on the rapid transition of artificial intelligence into the physical world. This conversation will cover:
• What is a humanoid robot and why is embodied AI rapidly advancing
• How the intersection of AI and the physical economy will change the way the world does business
• Which sectors and industries stand to benefit from this investment trend
• What this transformation means for investors and key portfolio considerations
Watch Replay• What is a humanoid robot and why is embodied AI rapidly advancing
• How the intersection of AI and the physical economy will change the way the world does business
• Which sectors and industries stand to benefit from this investment trend
• What this transformation means for investors and key portfolio considerations
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
445 East Lake Street
Suite 320
Wayzata, MN 55391
US
Direct:
(952) 475-4317(952) 475-4317
Toll-Free:
(800) 366-1566(800) 366-1566
Fax:
(904) 273-7598(904) 273-7598
445 East Lake Street
Suite 320
Wayzata, MN 55391
US
Direct:
(952) 475-4317(952) 475-4317
Meet The Bergeland Pasqua Wealth Management Group
Michael Pasqua, CFA
Executive Director, Financial Advisor, Alternative Investments Director, Senior Portfolio Manager, Lending Specialist
Phone:
(952) 475-4385(952) 475-4385
Keri Burton, CFP®, CEPA®
Senior Vice President, Financial Advisor
Phone:
(952) 475-4393(952) 475-4393
Phone:
(612) 979-5847(612) 979-5847
Annette Dick, Cash Engagement Specialist
Registered Client Relationship Analyst
Phone:
(952) 475-4351(952) 475-4351
Jessica Hindermann, Cash Engagement Specialist
Assistant Vice President, Wealth Management Associate
Phone:
(952) 475-4179(952) 475-4179
Ali Kourouma
Registered Client Relationship Analyst
Phone:
(952) 475-4107(952) 475-4107
Andrew Starkey, CFP®, CPRC®
Registered Client Relationship Associate
About Denine Bergeland
Denine Bergeland is a Managing Director, Financial Advisor, Senior Portfolio Management Director, Workplace Advisor – Equity Compensation, and CERTIFIED FINANCIAL PLANNER® with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. With nearly four decades of experience in financial services, she advises individuals, families, business owners, and corporate executives navigating significant financial decisions — helping them understand not only the opportunities in front of them, but the broader implications those choices may have across their wealth, their families, and their future.
A graduate of Gustavus Adolphus College, Denine began her financial career in 1987 and earned the CERTIFIED FINANCIAL PLANNER® designation in 1993. Throughout her career, she has built a planning-driven practice grounded in disciplined analysis, thoughtful decision-making, and a comprehensive understanding of how investments, taxes, retirement, estate planning, and equity compensation intersect. For her consistent commitment to excellence, she has been recognized as a
Committed to equipping her clients with the most sophisticated financial guidance, Denine earned Morgan Stanley Senior Portfolio Management Director and Workplace Advisor – Equity Compensation. These rigorous designations allow her to bring an intense focus and deep insight to portfolio construction, concentrated wealth management, and the complexities executives face when navigating equity-based compensation.
At the heart of Denine’s work is a simple belief: life’s most meaningful wealth decisions are rarely isolated. Each choice has consequences that extend beyond a single account or moment in time. Her role is to help clients evaluate those connections, anticipate challenges before they emerge, and build strategies that remain resilient through changing markets, evolving family dynamics, and major life transitions. This philosophy has shaped the foundation of her practice: a commitment to helping families make informed decisions today that support the legacy they hope to create tomorrow.
Outside the office, Denine enjoys spending time outdoors with family and friends, mentoring young women pursuing careers in financial services, and supporting greater diversity of thought and leadership within the profession.
A graduate of Gustavus Adolphus College, Denine began her financial career in 1987 and earned the CERTIFIED FINANCIAL PLANNER® designation in 1993. Throughout her career, she has built a planning-driven practice grounded in disciplined analysis, thoughtful decision-making, and a comprehensive understanding of how investments, taxes, retirement, estate planning, and equity compensation intersect. For her consistent commitment to excellence, she has been recognized as a
Committed to equipping her clients with the most sophisticated financial guidance, Denine earned Morgan Stanley Senior Portfolio Management Director and Workplace Advisor – Equity Compensation. These rigorous designations allow her to bring an intense focus and deep insight to portfolio construction, concentrated wealth management, and the complexities executives face when navigating equity-based compensation.
At the heart of Denine’s work is a simple belief: life’s most meaningful wealth decisions are rarely isolated. Each choice has consequences that extend beyond a single account or moment in time. Her role is to help clients evaluate those connections, anticipate challenges before they emerge, and build strategies that remain resilient through changing markets, evolving family dynamics, and major life transitions. This philosophy has shaped the foundation of her practice: a commitment to helping families make informed decisions today that support the legacy they hope to create tomorrow.
Outside the office, Denine enjoys spending time outdoors with family and friends, mentoring young women pursuing careers in financial services, and supporting greater diversity of thought and leadership within the profession.
Securities Agent: LA, AL, VA, NV, OH, NY, NJ, ME, KS, FL, UT, TN, AK, ND, DC, AZ, SD, PA, OR, NM, MI, IL, WI, WA, MD, MA, IN, ID, WY, RI, NH, MN, GA, CA, TX, NC, MT, CO; General Securities Representative; Investment Advisor Representative
NMLS#: 533366
NMLS#: 533366
About Michael Pasqua
Michael Pasqua is an Executive Director, Financial Advisor, Senior Portfolio Manager, Alternative Investments Director, Lending Specialist, and Chartered Financial Analyst® with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. With more than 25 years of experience advising affluent families, business owners, and corporate executives, he brings a disciplined investment perspective and a comprehensive understanding of the interconnected decisions required to manage complex wealth.
A graduate of the College of the Holy Cross with a degree in Economics and Accounting, Michael began his career as a Tax Accountant at a national accounting firm. That early experience shaped the way he views wealth management today: not simply as the pursuit of growth, but as the discipline of understanding how financial decisions impact what clients are ultimately able to keep, protect, and pass on.
Recognizing the need for advice that extended beyond tax preparation, he founded his own wealth management practice in 2001. He later joined Morgan Stanley, where he continued to expand his advisory capabilities and ultimately helped build what is now The Bergeland Pasqua Wealth Management Group. In 2003, Michael earned the Chartered Financial Analyst® designation, one of the industry’s most rigorous credentials, reflecting his commitment to investment analysis, portfolio construction, and disciplined decision-making.
Michael’s approach to wealth management is shaped by a simple but important perspective: building wealth is only one part of the equation — preserving it requires equal attention. His background in accounting and tax, combined with his investment expertise, allows him to evaluate decisions through a broader lens, considering not only potential growth, but also the tax implications, risks, and long-term consequences that can influence a client’s financial outcome. Whether helping a business owner navigate a liquidity event, an executive manage concentrated equity, or a family develop a long-term investment strategy, Michael brings an analytical, disciplined approach focused on helping clients protect and maximize the wealth they have worked to create.
Outside the office, Michael enjoys spending time with family and friends and remains active in the community. He and his wife Jessie can often be seen in the winter at the hockey rink cheering for one of their three children, Danny, Ella or Rocco, or at a local brewery enjoying a cold beer. In the summer he can been seen on the golf course with friends or with his family on Lake Minnetonka. He serves on the board of two hockey organization non-profits as treasurer and supports the Foundation Fighting Blindness as well as the Women’s Care Center.
A graduate of the College of the Holy Cross with a degree in Economics and Accounting, Michael began his career as a Tax Accountant at a national accounting firm. That early experience shaped the way he views wealth management today: not simply as the pursuit of growth, but as the discipline of understanding how financial decisions impact what clients are ultimately able to keep, protect, and pass on.
Recognizing the need for advice that extended beyond tax preparation, he founded his own wealth management practice in 2001. He later joined Morgan Stanley, where he continued to expand his advisory capabilities and ultimately helped build what is now The Bergeland Pasqua Wealth Management Group. In 2003, Michael earned the Chartered Financial Analyst® designation, one of the industry’s most rigorous credentials, reflecting his commitment to investment analysis, portfolio construction, and disciplined decision-making.
Michael’s approach to wealth management is shaped by a simple but important perspective: building wealth is only one part of the equation — preserving it requires equal attention. His background in accounting and tax, combined with his investment expertise, allows him to evaluate decisions through a broader lens, considering not only potential growth, but also the tax implications, risks, and long-term consequences that can influence a client’s financial outcome. Whether helping a business owner navigate a liquidity event, an executive manage concentrated equity, or a family develop a long-term investment strategy, Michael brings an analytical, disciplined approach focused on helping clients protect and maximize the wealth they have worked to create.
Outside the office, Michael enjoys spending time with family and friends and remains active in the community. He and his wife Jessie can often be seen in the winter at the hockey rink cheering for one of their three children, Danny, Ella or Rocco, or at a local brewery enjoying a cold beer. In the summer he can been seen on the golf course with friends or with his family on Lake Minnetonka. He serves on the board of two hockey organization non-profits as treasurer and supports the Foundation Fighting Blindness as well as the Women’s Care Center.
Securities Agent: NH, MD, LA, ID, TX, IN, RI, PA, MT, WI, VA, NY, IL, GA, CA, SD, OR, OH, NM, AL, ME, AZ, WY, UT, TN, MN, MI, MA, CO, NV, NJ, ND, KS, DC, AK, SC, NC, FL, WA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1272733
NMLS#: 1272733
About Keri Burton
Keri Burton is a Senior Vice President, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, and CERTIFIED EXIT PLANNING ADVISOR® with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. A seasoned professional of over 25 years, she is dedicated to understanding her clients’ true passions so she can customize wealth management strategies that ignite the purpose behind their wealth. This begins with her ability to deeply listen to her clients. Her mantra — “what is most important to you is most important to me” — guides her process, enabling her to challenge each client to get to the heart of what matters most.
These insights also serve as the foundation of a custom financial plan that can be adapted to respond to life changes while withstanding the volatility of today’s markets. Keri is especially passionate about counseling those approaching retirement, leveraging her extensive knowledge about matters such as Social Security, Medicare, long-term care planning, proper timing of IRA conversions, and tax-advantaged withdrawal strategies which can be critical to an individual’s retirement outcome.
Keri graduated from St. Cloud University with a B.S. degree in Finance, and began her career as a Financial Advisor at Northwestern Mutual Life. Over the next few years, she worked at several financial institutions. In 2010, Keri partnered with Michael Pasqua to establish The Pasqua-Burton Group at Morgan Stanley. Two years later, she earned her CERTIFIED FINANCIAL PLANNER™ designation as well as her Certified Exit Planning Advisor designation in 2025.
Beyond her professional role, Keri loves investing in her community. She serves as a business mentor in Minnetonka High School’s VANTAGE program, which fosters personal growth and professional skills in students. She also mentors young women both professionally and personally, including leading a youth group of middle-school girls at her church. Additionally, Keri and her family have supported Hope Academy in downtown Minneapolis for the past two decades, a non-profit organization whose mission is to bring hope through education for Minneapolis inner-city youth.
Keri and her husband, Matt, have been married for over 20 years, and have three sons, Jacob, Jonah and Josiah. In her free time, Keri loves the simple things in life like taking her labradoodle “Junior” to the dog park each day.
2019, 2023 & 2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com 2019, 2023 & 2025. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria, during the following periods:
2025 Award - 3/13/24-10/29/24
2023 Award - 3/14/22-10/18/22
2019 Award - 3/23/18-10/23/18
These insights also serve as the foundation of a custom financial plan that can be adapted to respond to life changes while withstanding the volatility of today’s markets. Keri is especially passionate about counseling those approaching retirement, leveraging her extensive knowledge about matters such as Social Security, Medicare, long-term care planning, proper timing of IRA conversions, and tax-advantaged withdrawal strategies which can be critical to an individual’s retirement outcome.
Keri graduated from St. Cloud University with a B.S. degree in Finance, and began her career as a Financial Advisor at Northwestern Mutual Life. Over the next few years, she worked at several financial institutions. In 2010, Keri partnered with Michael Pasqua to establish The Pasqua-Burton Group at Morgan Stanley. Two years later, she earned her CERTIFIED FINANCIAL PLANNER™ designation as well as her Certified Exit Planning Advisor designation in 2025.
Beyond her professional role, Keri loves investing in her community. She serves as a business mentor in Minnetonka High School’s VANTAGE program, which fosters personal growth and professional skills in students. She also mentors young women both professionally and personally, including leading a youth group of middle-school girls at her church. Additionally, Keri and her family have supported Hope Academy in downtown Minneapolis for the past two decades, a non-profit organization whose mission is to bring hope through education for Minneapolis inner-city youth.
Keri and her husband, Matt, have been married for over 20 years, and have three sons, Jacob, Jonah and Josiah. In her free time, Keri loves the simple things in life like taking her labradoodle “Junior” to the dog park each day.
2019, 2023 & 2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com 2019, 2023 & 2025. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria, during the following periods:
2025 Award - 3/13/24-10/29/24
2023 Award - 3/14/22-10/18/22
2019 Award - 3/23/18-10/23/18
Securities Agent: AL, WI, NH, IL, SC, NY, MI, NC, GA, IN, AZ, VA, UT, TN, MN, MD, MA, ID, AK, WY, NV, ME, LA, SD, NJ, KS, WA, TX, RI, PA, NM, DC, CO, OR, OH, ND, MT, FL, CA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1265107
NMLS#: 1265107
About Nicole Scanlon
Nicole Scanlon is a Financial Advisor and Family Wealth Director with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. Drawing on her deep financial experience and unique background as an estate planning attorney, she works with high-net-worth individuals, families, and business owners to help coordinate the complex financial, tax, and estate considerations that come with significant wealth.
A graduate of the University of San Diego, Nicole went on to earn her Juris Doctor from the Mitchell Hamline School of Law. Prior to entering wealth management, she began her career as an estate planning attorney — an experience that gave her a valuable perspective on how legal structures, tax considerations, and financial strategies intersect. Today, she applies that experience to help families better understand how their estate plans connect with their broader wealth strategies — from managing tax implications and wealth transfer considerations to coordinating multigenerational planning. Nicole also leverages her master’s degree in Dispute Resolution from Pepperdine University School of Law to help families navigate complex financial decisions and difficult conversations with clarity.
Nicole also holds the Family Wealth Director title, an elite Morgan Stanley designation — held by fewer than 6% of Financial Advisors nationwide* — that reflects intensive work in areas including family governance, business succession, philanthropic planning, and the complexities of multigenerational wealth. Her commitment to excellence has been recognized through multiple industry honors, including Five Star Wealth Manager (2023–2026).
Nicole believes effective wealth management requires looking beyond individual accounts and understanding the full picture of a family’s financial life. Her goal is to help ensure that each component — from estate structures and tax considerations to investment decisions and wealth transfer plans — works together with intention. By identifying potential gaps, asking the right questions, and helping coordinate across a client’s broader advisory team, Nicole brings a level of precision and foresight to the planning process that helps families preserve flexibility today while supporting their long-term objectives for generations to come.
Outside the office, Nicole remains actively involved in her community through nonprofit service and board leadership. She serves on the board of Athletes Committed to Educating Students (ACES) and Diverse Daisies, a nonprofit organization that aims to empower girls ages 11-15 with skills, confidence, and experiences to achieve lasting success. Nicole lives with her husband and their two children, and enjoys traveling, staying active, and spending time with her family.
*Percentage as of August 2026
A graduate of the University of San Diego, Nicole went on to earn her Juris Doctor from the Mitchell Hamline School of Law. Prior to entering wealth management, she began her career as an estate planning attorney — an experience that gave her a valuable perspective on how legal structures, tax considerations, and financial strategies intersect. Today, she applies that experience to help families better understand how their estate plans connect with their broader wealth strategies — from managing tax implications and wealth transfer considerations to coordinating multigenerational planning. Nicole also leverages her master’s degree in Dispute Resolution from Pepperdine University School of Law to help families navigate complex financial decisions and difficult conversations with clarity.
Nicole also holds the Family Wealth Director title, an elite Morgan Stanley designation — held by fewer than 6% of Financial Advisors nationwide* — that reflects intensive work in areas including family governance, business succession, philanthropic planning, and the complexities of multigenerational wealth. Her commitment to excellence has been recognized through multiple industry honors, including Five Star Wealth Manager (2023–2026).
Nicole believes effective wealth management requires looking beyond individual accounts and understanding the full picture of a family’s financial life. Her goal is to help ensure that each component — from estate structures and tax considerations to investment decisions and wealth transfer plans — works together with intention. By identifying potential gaps, asking the right questions, and helping coordinate across a client’s broader advisory team, Nicole brings a level of precision and foresight to the planning process that helps families preserve flexibility today while supporting their long-term objectives for generations to come.
Outside the office, Nicole remains actively involved in her community through nonprofit service and board leadership. She serves on the board of Athletes Committed to Educating Students (ACES) and Diverse Daisies, a nonprofit organization that aims to empower girls ages 11-15 with skills, confidence, and experiences to achieve lasting success. Nicole lives with her husband and their two children, and enjoys traveling, staying active, and spending time with her family.
*Percentage as of August 2026
Securities Agent: ID, TN, SC, MN, AK, TX, MT, KS, IN, GA, DC, MI, WY, UT, RI, OH, NY, ME, OR, FL, CO, ND, IL, AL, NV, MD, WI, VA, NH, WA, SD, NM, NJ, NE, CA, AZ, PA, NC, LA, MA; General Securities Representative; Investment Advisor Representative
NMLS#: 2500579
NMLS#: 2500579
About Annette Dick
Annette Dick is a Registered Client Relationship Analyst and Cash Engagement Specialist with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. With more than 25 years of experience in financial services, she plays an essential role in delivering the responsive, detail-oriented service and operational excellence that has come to define the group as a whole.
Annette began her career in financial services in the late 1990s and has built broad experience across client service, operations, and financial administration. Before joining Morgan Stanley in 2023, she served as a Trading and Operations Specialist at Ameriprise Financial and later as a Business Operations Manager at Lincoln Financial, where she spent 12 years helping support complex financial processes and client needs. Since joining Morgan Stanley, she has also earned the title of Cash Engagement Specialist, a designation that reflects intensive training in deposit and cash management solutions.
Today, Annette works closely with clients and the advisory team to help ensure their financial needs are addressed with efficiency and care. From account onboarding and maintenance to cash management solutions, operational requests, and navigating Morgan Stanley’s digital resources, she helps create a seamless client experience by anticipating needs, coordinating details, and providing dependable support. For Annette, the most rewarding part of her work is building lasting relationships with clients and helping them navigate each stage of their financial journey. Whether supporting a major life transition, assisting with retirement planning, or helping families prepare for future generations, she takes pride in being a trusted resource clients can rely on.
Outside the office, Annette enjoys spending time with family and friends.
Annette began her career in financial services in the late 1990s and has built broad experience across client service, operations, and financial administration. Before joining Morgan Stanley in 2023, she served as a Trading and Operations Specialist at Ameriprise Financial and later as a Business Operations Manager at Lincoln Financial, where she spent 12 years helping support complex financial processes and client needs. Since joining Morgan Stanley, she has also earned the title of Cash Engagement Specialist, a designation that reflects intensive training in deposit and cash management solutions.
Today, Annette works closely with clients and the advisory team to help ensure their financial needs are addressed with efficiency and care. From account onboarding and maintenance to cash management solutions, operational requests, and navigating Morgan Stanley’s digital resources, she helps create a seamless client experience by anticipating needs, coordinating details, and providing dependable support. For Annette, the most rewarding part of her work is building lasting relationships with clients and helping them navigate each stage of their financial journey. Whether supporting a major life transition, assisting with retirement planning, or helping families prepare for future generations, she takes pride in being a trusted resource clients can rely on.
Outside the office, Annette enjoys spending time with family and friends.
About Jessica Hindermann
Jessica Hindermann is an Assistant Vice President, Wealth Management Associate, and Cash Engagement Specialist with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. With over 20 years of experience at Morgan Stanley, she plays an important role in delivering the responsive service, attention to detail, and personal connection that help define the client experience.
Jessica began her career at Morgan Stanley in 2006 as a Client Service Associate and has since served clients and advisors across a variety of operations and wealth management roles. Over the years, she has supported multiple advisory practices, developing a broad understanding of the many details required to deliver a seamless client experience. She has also earned the Cash Engagement Specialist designation, strengthening her ability to support clients with their cash and liquidity considerations.
As a senior member of the service team, Jessica works closely with both clients and advisors to help manage day-to-day needs, coordinate requests, and ensure that important financial processes are handled efficiently. At the heart of Jessica’s approach is a simple goal: make people’s lives easier. That mindset shapes the way she approaches her work: listening carefully, following through consistently, and taking ownership of the details that matter most to clients. Over the years, she has seen firsthand that trust is built not only through major financial decisions, but through the countless moments of support and reliability along the way. With a genuine care for others, she strives to provide the consistency and support clients can rely on throughout their financial journey.
Outside the office, Jessica enjoys spending time with her husband and two sons, often cheering them on from the hockey rink where she has spent years filming and streaming their games. An avid reader, she also enjoys walks, spending time outdoors, and volunteering through her church. Jessica grew up on a dairy farm in Carver County, Minnesota, and still carries the strong sense of community and connection that shaped her early years.
Jessica began her career at Morgan Stanley in 2006 as a Client Service Associate and has since served clients and advisors across a variety of operations and wealth management roles. Over the years, she has supported multiple advisory practices, developing a broad understanding of the many details required to deliver a seamless client experience. She has also earned the Cash Engagement Specialist designation, strengthening her ability to support clients with their cash and liquidity considerations.
As a senior member of the service team, Jessica works closely with both clients and advisors to help manage day-to-day needs, coordinate requests, and ensure that important financial processes are handled efficiently. At the heart of Jessica’s approach is a simple goal: make people’s lives easier. That mindset shapes the way she approaches her work: listening carefully, following through consistently, and taking ownership of the details that matter most to clients. Over the years, she has seen firsthand that trust is built not only through major financial decisions, but through the countless moments of support and reliability along the way. With a genuine care for others, she strives to provide the consistency and support clients can rely on throughout their financial journey.
Outside the office, Jessica enjoys spending time with her husband and two sons, often cheering them on from the hockey rink where she has spent years filming and streaming their games. An avid reader, she also enjoys walks, spending time outdoors, and volunteering through her church. Jessica grew up on a dairy farm in Carver County, Minnesota, and still carries the strong sense of community and connection that shaped her early years.
About Ali Kourouma
Ali Kourouma is a Registered Client Relationship Analyst with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. Drawing on his background in banking and client service, Ali plays an important role in delivering the personalized attention and seamless support that allow clients and their families to navigate their financial lives with clarity.
A graduate of Minnesota State University, Mankato, Ali began his career in financial services at Wells Fargo. He worked as a Licensed Banker from 2022 to 2025, helping clients navigate their banking needs and build financial confidence. He later joined Morgan Stanley, bringing with him firsthand experience in relationship management and a strong foundation in client service.
For Ali, great service is built on trust and consistency. Working closely with clients and the advisory team to help address day-to-day needs, coordinate requests, and ensure seamless client interactions — he understands that financial decisions are personal, and he takes pride in creating an experience where clients feel heard, valued, and supported. Guided by a simple philosophy — treating every client the way he would want his own family to be treated — he brings genuine care, attention, and follow-through to every interaction.
Originally from Foley, Minnesota, Ali enjoys following Minnesota sports (especially the Timberwolves and Vikings), traveling with friends, and spending time with family, including cheering on his younger brothers at their sporting events.
A graduate of Minnesota State University, Mankato, Ali began his career in financial services at Wells Fargo. He worked as a Licensed Banker from 2022 to 2025, helping clients navigate their banking needs and build financial confidence. He later joined Morgan Stanley, bringing with him firsthand experience in relationship management and a strong foundation in client service.
For Ali, great service is built on trust and consistency. Working closely with clients and the advisory team to help address day-to-day needs, coordinate requests, and ensure seamless client interactions — he understands that financial decisions are personal, and he takes pride in creating an experience where clients feel heard, valued, and supported. Guided by a simple philosophy — treating every client the way he would want his own family to be treated — he brings genuine care, attention, and follow-through to every interaction.
Originally from Foley, Minnesota, Ali enjoys following Minnesota sports (especially the Timberwolves and Vikings), traveling with friends, and spending time with family, including cheering on his younger brothers at their sporting events.
About Andrew Starkey
Andrew Starkey is a Registered Client Relationship Associate, CERTIFIED FINANCIAL PLANNER®, and Chartered Retirement Planning Counselor™ with The Bergeland Pasqua Wealth Management Group at Morgan Stanley. With nearly a decade of experience in financial services, Andrew helps clients understand the bigger picture behind their wealth — connecting it with their personal priorities, long-term goals, and family values.
A graduate of the University of St. Thomas with a degree in Finance, Andrew began his career at Ameriprise Financial before joining Morgan Stanley in 2021. During his time with Morgan Stanley’s Chicago Office, he served as a Financial Planning Director, working with financial advisors to deliver comprehensive planning strategies for clients navigating complex financial decisions. His experience included working with families on strategies involving retirement planning, estate considerations, charitable giving, and tax-efficient wealth planning. Committed to delivering rigorous, education-focused guidance, he earned the Chartered Retirement Planning Counselor™ designation in 2018 and the CERTIFIED FINANCIAL PLANNER® certification in 2019.
In his role today, Andrew focuses on helping bring structure and clarity to the financial planning process for individuals and families navigating increasingly complex financial landscapes. His goal is to organize the many interconnected elements of a client’s financial picture — including cash flow, retirement considerations, investment goals, tax considerations, and legacy planning priorities — into a comprehensive planning framework that supports the team’s ability to deliver a coordinated, personalized client experience.
A native of Eden Prairie, Minnesota, Andrew’s passion for financial planning began through volunteer work with adults with disabilities through the Adaptive Recreation Learning Exchange. The relationships he built through that experience showed him the impact of helping others pursue meaningful goals. Today, that same mindset guides his work with clients: recognizing that behind every financial decision is a person, a family, and a story. In his free time enjoys spending time with his wife, Angelica, their son William, and their dog, Cody. He also enjoys golfing, traveling to Colombia to visit family, and cheering on Minnesota sports teams.
A graduate of the University of St. Thomas with a degree in Finance, Andrew began his career at Ameriprise Financial before joining Morgan Stanley in 2021. During his time with Morgan Stanley’s Chicago Office, he served as a Financial Planning Director, working with financial advisors to deliver comprehensive planning strategies for clients navigating complex financial decisions. His experience included working with families on strategies involving retirement planning, estate considerations, charitable giving, and tax-efficient wealth planning. Committed to delivering rigorous, education-focused guidance, he earned the Chartered Retirement Planning Counselor™ designation in 2018 and the CERTIFIED FINANCIAL PLANNER® certification in 2019.
In his role today, Andrew focuses on helping bring structure and clarity to the financial planning process for individuals and families navigating increasingly complex financial landscapes. His goal is to organize the many interconnected elements of a client’s financial picture — including cash flow, retirement considerations, investment goals, tax considerations, and legacy planning priorities — into a comprehensive planning framework that supports the team’s ability to deliver a coordinated, personalized client experience.
A native of Eden Prairie, Minnesota, Andrew’s passion for financial planning began through volunteer work with adults with disabilities through the Adaptive Recreation Learning Exchange. The relationships he built through that experience showed him the impact of helping others pursue meaningful goals. Today, that same mindset guides his work with clients: recognizing that behind every financial decision is a person, a family, and a story. In his free time enjoys spending time with his wife, Angelica, their son William, and their dog, Cody. He also enjoys golfing, traveling to Colombia to visit family, and cheering on Minnesota sports teams.
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Taylor Streiff
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About Taylor Streiff
Taylor Streiff is an Associate Private Banker serving Morgan Stanley Wealth Management offices in Minnesota, North Dakota, and South Dakota.
Associate Private Bankers partner with Private Bankers and 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.
Taylor began his career in financial services in 2020 and joined Morgan Stanley in 2024 as an Associate Private Banker. Prior to joining the firm, he was a Commercial Lender at Pan American Bank and Trust in Chicago, Illinois.
Taylor is a graduate of the University of Minnesota - Duluth, where he received a Bachelor of Business Administration in Finance. He lives in Minneapolis, Minnesota with his family. Outside of the office, Taylor enjoys all things outdoors. He enjoys spending time with his friends and family.
Associate Private Bankers partner with Private Bankers and 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.
Taylor began his career in financial services in 2020 and joined Morgan Stanley in 2024 as an Associate Private Banker. Prior to joining the firm, he was a Commercial Lender at Pan American Bank and Trust in Chicago, Illinois.
Taylor is a graduate of the University of Minnesota - Duluth, where he received a Bachelor of Business Administration in Finance. He lives in Minneapolis, Minnesota with his family. Outside of the office, Taylor enjoys all things outdoors. He enjoys spending time with his friends and family.
NMLS#: 2539965
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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
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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
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1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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
3When 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.
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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.
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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.
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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.
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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.
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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.
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1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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
3When 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.
4Morgan 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.
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.
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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.
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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), 4763067 (9/2025), 5378280 (5/2026)
