Rafael Rosenthal
Executive Director, Wealth Management, Financial Advisor
Phone:
(305) 347-2077(305) 347-2077
Industry Award WinnerOur Mission Statement
We specialize in cross-border wealth management, integrating investment strategy, risk management, liquidity solutions, and fiscal planning to protect capital, optimize global structures, and support long term legacy goals.
Our Story and Services
As your Financial Advisors, we can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve. Working together we can help you to preserve and grow your wealth. You’ll have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices.
Services Include
- Wealth ManagementFootnote1
- Wealth PlanningFootnote2
- Trust AccountsFootnote3
- Business PlanningFootnote4
- Professional Portfolio ManagementFootnote5
- Alternative InvestmentsFootnote6
- Retirement PlanningFootnote7
- 401(k) Rollovers
- Cash Management and Lending ProductsFootnote8
- Financial PlanningFootnote9
- Structured ProductsFootnote10
- Fixed IncomeFootnote11
- Business Succession PlanningFootnote12
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Approach
We believe identifying the right financial solutions begins with a clear, empathetic understanding of each client's situation, goals, objectives, and risk tolerance, especially when wealth, family, and opportunities span multiple countries.
Step 1: Introductory Meeting
Our relationship begins with an initial discussion designed to understand you as a person first. We focus on your lifestyle, priorities, family considerations, and what you want your wealth to accomplish across borders. Whether you are planning for retirement, purchasing a home, or preparing for a liquidity event, we work together to define your goals, review your current financial picture, and establish an appropriate risk framework aligned to the outcomes you envision.
Step 2: Forming Your Strategy
We build a tailored strategy around your specific needs, prioritizing customization over templates. Our team combines deep market experience with complementary credentials, including legal, CFA, and CPA expertise, to support sophisticated planning and decision making. Depending on your situation, your strategy may address portfolio construction, risk management, trading and execution, portfolio analytics, and tax aware structuring considerations in coordination with your external tax and legal advisors.
Step 3: Implementing Your Plan
We translate strategy into action with disciplined execution and the resources of Morgan Stanley. For many clients, implementation includes coordinating around complex holdings, concentrated positions, and major life or business milestones. Where appropriate, we can also evaluate dedicated cross border lending solutions to help create liquidity, fund goals, or help clients pursue opportunities without disrupting their long term investment strategy.
Step 4: Measuring & Monitoring Your Success
We track progress against the outcomes that matter most to you, not just market benchmarks. We provide ongoing monitoring and analytics, review risk exposures, and adjust as your family, business, or the market environment changes. The goal is to keep your strategy aligned, resilient, and actionable over time.
INTERNATIONAL WEALTH MANAGEMENT
International Wealth Management is a specialized area within Morgan Stanley Wealth Management that is dedicated to serving individuals, families, family offices, entrepreneurs, corporate executives, and corporate stock plan managers who live outside the United States. We also serve U.S. citizens living and working abroad, as well as those who are relocating to the United States or otherwise changing domicile.
A Practice Focused Across the Americas
We specialize in advising clients connected to key markets across North America, Central America, and South America, with experience spanning multiple countries throughout the region. We understand that cross-border wealth often involves concentrated positions, closely held businesses, jurisdiction-specific risks, and complex family dynamics that require a thoughtful, culturally informed approach.
Guidance Built for Cross-Border Complexity
International wealth management is rarely one size fits all. We help clients evaluate and organize the moving parts of their financial lives. This may include portfolio design for globally allocated wealth, risk management in higher-volatility environments, trading and execution support across market conditions, portfolio analytics and reporting to help clients see the full picture, and structuring considerations in coordination with clients' tax and legal advisors.
Liquidity Planning and Major Life Events
A common need for international families is planning around liquidity events and transitions of wealth. We have experience helping clients evaluate options to raise liquidity, diversify concentrated wealth, and reposition assets in support of long-term goals—often by coordinating across capabilities within the firm when appropriate.
A Long-Term, Relationship-Driven Approach
We work with families over generations, helping align financial strategy with family priorities, governance discussions, and legacy planning needs. We aim to be a steady partner through market cycles and across life events, with a process designed to evolve as your situation changes.
Bilingual, Client-First Communication
Many of our clients prefer to communicate in Spanish. Our team is able to work with you in Spanish throughout the relationship, from onboarding conversations to ongoing reviews, with a focus on clear explanations and culturally aligned guidance so you can make informed decisions with confidence.
Location
200 S Biscayne Blvd
Ste 1000
Miami, FL 33131
US
Direct:
(305) 347-2094(305) 347-2094
Meet DLR Group
Luis Sanchez
Executive Director, Wealth Management, Financial Advisor
Phone:
(305) 347-2094(305) 347-2094
Daniel Penalver, CFA
Executive Director, Wealth Management, Financial Advisor
Phone:
(305) 960-3492(305) 960-3492
Vivian Perez
Senior Registered Client Service Associate
Phone:
(305) 347-2044(305) 347-2044
Cristian Rubiano
Senior Registered Client Associate
Phone:
(305) 960-3493(305) 960-3493
About Rafael Rosenthal
One of the founding members of DLR Group, Rafael Rosenthal has nearly three decades of experience in the private wealth management industry.
Rafael focuses his practice primarily on the key areas of asset allocation, cross-border specialization, global investment trends and wealth planning consulting. Rafael’s extensive experience working with Latin American clients from around the world has informed his global investment views. He is a strong advocate of a customized investment process that takes into account a client’s unique goals, risk tolerance and philosophy while providing guidance that is wholly without conflict.
Rafael began his career at Deutsche Bank in their Investment Banking division in 1992. He moved to ABN AMRO in 1998, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2015 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Rafael is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English, Spanish, and German.
Rafael earned his Law Degree from University of Buenos Aires and he enjoys kayaking and hiking in his free time.
2024 Forbes Best-In- State Wealth Management Teams
Source: Forbes.com 2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Rafael focuses his practice primarily on the key areas of asset allocation, cross-border specialization, global investment trends and wealth planning consulting. Rafael’s extensive experience working with Latin American clients from around the world has informed his global investment views. He is a strong advocate of a customized investment process that takes into account a client’s unique goals, risk tolerance and philosophy while providing guidance that is wholly without conflict.
Rafael began his career at Deutsche Bank in their Investment Banking division in 1992. He moved to ABN AMRO in 1998, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2015 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Rafael is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English, Spanish, and German.
Rafael earned his Law Degree from University of Buenos Aires and he enjoys kayaking and hiking in his free time.
2024 Forbes Best-In- State Wealth Management Teams
Source: Forbes.com 2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Securities Agent: MI, WY, FL, NC, TX, DE, CT, AZ, NY, WI; General Securities Representative; Investment Advisor Representative
NMLS#: 2591178
NMLS#: 2591178
About Luis Sanchez
One of the founding members of DLR Group, Luis Sanchez has over 24 years of experience in the private wealth management industry. As a seasoned wealth management professional Luis has dedicated his career to serving the specialized needs of high net worth families, corporate executives and business owners.
Luis began his career at Bank Boston in their Private Banking division.. He moved to Banco ITAU in 2007, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2016 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Luis is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English and Spanish.
Luis earned his Bachelors in Accounting and Business Administration from Universidad Catolica in Argentina.
Luis began his career at Bank Boston in their Private Banking division.. He moved to Banco ITAU in 2007, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2016 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Luis is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English and Spanish.
Luis earned his Bachelors in Accounting and Business Administration from Universidad Catolica in Argentina.
Securities Agent: DE, WI, TX, NC, FL, CT, NY, AZ, MI, WY; General Securities Representative; Investment Advisor Representative
NMLS#: 2597956
NMLS#: 2597956
About Daniel Penalver
Daniel Penalver is an Executive Director and Financial Advisor with over 18 years of experience in the private wealth management industry. As a founding member of DLR Group, he is part of a team of experienced professionals who combine their talents to serve Latin American clientele of affluent families and individuals.
Daniel began his career at ABN AMRO in their Private Banking division.. He moved to Banco ITAU in 2007, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2016 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Daniel is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English and Spanish.
Daniel earned his Bachelors in Finance & Economics from Florida International University and has earned the Chartered Financial Analyst™ designation. He lives in Miami, FL and enjoys spending time with his wife, Nathaly and their two boys.
2019 Forbes Next Gen Best-In-State Wealth Advisors
Source: Forbes.com 2019. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2024 Forbes Best-In- State Wealth Management Teams
Source: Forbes.com 2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Daniel began his career at ABN AMRO in their Private Banking division.. He moved to Banco ITAU in 2007, where he continued to build his advisory business with various family offices, and high net worth individuals. Prior to joining Morgan Stanley, he was a Managing Director at Wells Fargo Advisors, International Private Client Services from 2016 – 2021. He earned the Director’s Council Premier Advisor Award for Extraordinary Client Service during his tenure.
In the US, Daniel is FINRA registered with Series 7 – General Securities Representative and Series 66 – Securities Agent and Investment Advisor Representative licenses. He is Fluent in English and Spanish.
Daniel earned his Bachelors in Finance & Economics from Florida International University and has earned the Chartered Financial Analyst™ designation. He lives in Miami, FL and enjoys spending time with his wife, Nathaly and their two boys.
2019 Forbes Next Gen Best-In-State Wealth Advisors
Source: Forbes.com 2019. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2024 Forbes Best-In- State Wealth Management Teams
Source: Forbes.com 2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Securities Agent: NC, WY, DE, TX, NY, CT, WI, FL, AZ, MI; General Securities Representative; Investment Advisor Representative
NMLS#: 2591225
NMLS#: 2591225
About Vivian Perez
Vivian Perez has over 25 years of experience in the financial services industry. She started her career in 1997 working for Private Banking at ABN AMRO Bank as a Relationship Officer. In 2007 she moved to Banco Itaú for LATAM clients in the International Wealth Management division. Prior to joining Morgan Stanley in 2021, Vivian and the DLR group worked together in Wells Fargo Advisors in the International Private Client Services from 2016 - 2021. Vivian is a Senior Associate of the group, with a strong knowledge on complex credit facilities and a robust understanding of the financial markets with primary focus on clients. She provides exceptional client service in matters related to investments, estate planning, complex lending transactions. She continuously supports the team’s business goals.
Vivian is a fully registered representative with FINRA, she holds the Series 7 General Securities Representative , Serie 63 Uniform Securities Agent State Law & Series 65 Uniform Investment Adviser Law licenses. She is fluent in English and Spanish. Vivian loves travelling in summertime and enjoys spending quality time with her family.
Vivian is a fully registered representative with FINRA, she holds the Series 7 General Securities Representative , Serie 63 Uniform Securities Agent State Law & Series 65 Uniform Investment Adviser Law licenses. She is fluent in English and Spanish. Vivian loves travelling in summertime and enjoys spending quality time with her family.
About Cristian Rubiano
Cristian Rubiano has been in the financial services industry since 2012, started his career in retail banking in Wells Fargo Bank as a Personal Banker and Brokerage Associate in Miami, Florida. In 2018, Cristian transferred to the International Private Client Services division joining The DLR Group at Wells Fargo Advisors and transitioned with the team to Morgan Stanley in 2021. His role as a Senior Associate in the team is to provide clients with excellent service and assist them with all their investment, financial planning, and cash management needs. He continuously supports the team’s business goals.
Cristian is a fully registered representative with FINRA, he holds the Series 7 - General Securities Representative, Series 6 - Investment Company and Variable Contracts Products Representative, Series 63 Uniform Securities Agent State Law & 66 Securities Agent and Investment Advisor Representative licenses. He is fluent in English and Spanish. Cristian enjoys spending time with his family, he loves soccer and likes to travel.
Cristian is a fully registered representative with FINRA, he holds the Series 7 - General Securities Representative, Series 6 - Investment Company and Variable Contracts Products Representative, Series 63 Uniform Securities Agent State Law & 66 Securities Agent and Investment Advisor Representative licenses. He is fluent in English and Spanish. Cristian enjoys spending time with his family, he loves soccer and likes to travel.
Contact Rafael Rosenthal
Contact Luis Sanchez
Contact Daniel Penalver
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
Forbes Best-In-State Wealth Management Teams Source: Forbes (Awarded Jan 2026) Data compiled by SHOOK Research LLC based for the period 3/31/24-3/31/25.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
Article Image
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
Article Image
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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
Ready to start a conversation? Contact DLR Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan 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.
6Alternative 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.
7When 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.
8Morgan 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
9Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
10Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
11Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
12Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan 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.
6Alternative 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.
7When 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.
8Morgan 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
9Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
10Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
11Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
12Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
