

Falcon Legacy Group at Morgan Stanley
Direct:
(856) 222-4532(856) 222-4532
Toll-Free:
(800) 932-0037(800) 932-0037

Our Mission Statement
Delivering high quality service, customized strategies and investment solutions to preserve and grow wealth for your life and legacy without compromise.
We Pursue Excellence Here
The Falcon Legacy Group is a team of dedicated financial professionals providing our clients with the tools they need to navigate the incredibly complex and ever changing landscape of the financial world. The Falcon Legacy carries with it a message of wisdom and transition. Through our tailored consultative process , we are able to craft customized strategies specific to our client's needs. We address the many questions associated with wealth accumulation and preservation of capital, efficient and effective estate planning strategies, business, education, retirement, and insurance planning with advisors experienced in each specific discipline.
The Falcon Legacy Group maintains a standard of excellence. We focus on core principles of process, advice, experience and premier client service. Our mission is to help you preserve and grow wealth for your life and legacy without compromise.
The Falcon Legacy Group maintains a standard of excellence. We focus on core principles of process, advice, experience and premier client service. Our mission is to help you preserve and grow wealth for your life and legacy without compromise.
Services Include
- Wealth ManagementFootnote1
- Financial PlanningFootnote2
- Retirement PlanningFootnote3
- Professional Portfolio ManagementFootnote4
- Cash Management and Lending ProductsFootnote5
- 401(k) Rollovers
- 529 PlansFootnote6
- UGMA/UTMAFootnote7
- Trust AccountsFootnote8
- Estate Planning StrategiesFootnote9
- Alternative InvestmentsFootnote10
- Defined Contribution PlansFootnote11
- Sustainable InvestingFootnote12
- Life InsuranceFootnote13
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Falcon Legacy Group
Location
330 Fellowship Rd
Ste 400
Mount Laurel, NJ 08054
US
Direct:
(856) 222-4532(856) 222-4532
Toll-Free:
(800) 932-0037(800) 932-0037
Fax:
(215) 789-4324(215) 789-4324
Meet Falcon Legacy Group
About Joseph F Durso
For over 40 years, Joseph Durso has been connecting with individuals, families, businesses and institutions to deliver services and solutions that help build, preserve, and manage wealth and legacy without compromise. Joseph Durso brings a commitment of professional excellence having attained some of the most respected designations in the financial profession.
In 1998, Joseph took his financial career to the next level and completed a range of rigorous coursework at the University of Pennsylvania’s Wharton School of Business, to become a Certified Investment Management Analyst, CIMA®. This designation is one the most valued certifications in the investment consulting and wealth management industry.
In addition to being a Portfolio Manager, Joseph also earned the Morgan Stanley Senior Investment Management Consultant designation within the firms Consulting Group.
Joseph is also a Corporate Retirement Plan Specialist, CRPS® and has since been nominated as one of a select group of Corporate Retirement Director’s at Morgan Stanley.
To earn the title of CRD, Morgan Stanley identified Joseph as a retirement–focused Financial Advisor, with a proven record of working with corporate and institutional clients, finishing stringent curriculums and meeting requirements with regard to the number and size of retirement plans served. Only approximately 2 percent of the firm’s Financial Advisors hold this designation. Being included in this esteemed group of professionals has earned him the trust and confidence of his High Net Worth and Institutional clientele.
Joseph specializes in applying his expertise and market knowledge to design a comprehensive process assisting clients through life stages of wealth management, financial and retirement planning to help create a lasting legacy.
His culture of excellence, marks of achievements and a strong philosophy of putting clients first have led to an expanding network of loyal clients and referrals. As a result he has been recognized by Morgan Stanley, after meeting its elite standards, for Chairman’s and other firm recognition clubs. His personal expectations, accomplishments and discipline to achieve these recognition clubs are testimonial to and an accurate predictor of the sustainable success you can anticipate to help you reach your goals and is what sets him apart.
Joseph Durso is an alumnus of St. Joseph’s University. Out of the office, he serves on the Executive Committee of the Board of Trustees for the Ronald McDonald House of Southern New Jersey and was a former advisory board member of Ronald McDonald House Charities Investment Program. He is an active member of the Association of Professional Investment Consultants. Originally from Philadelphia, Joseph resides in Cherry Hill, NJ with his wife and two children. In his spare time, Joe is an avid golfer and is a member of Medford Village and Atlantic City Country Club.
In 1998, Joseph took his financial career to the next level and completed a range of rigorous coursework at the University of Pennsylvania’s Wharton School of Business, to become a Certified Investment Management Analyst, CIMA®. This designation is one the most valued certifications in the investment consulting and wealth management industry.
In addition to being a Portfolio Manager, Joseph also earned the Morgan Stanley Senior Investment Management Consultant designation within the firms Consulting Group.
Joseph is also a Corporate Retirement Plan Specialist, CRPS® and has since been nominated as one of a select group of Corporate Retirement Director’s at Morgan Stanley.
To earn the title of CRD, Morgan Stanley identified Joseph as a retirement–focused Financial Advisor, with a proven record of working with corporate and institutional clients, finishing stringent curriculums and meeting requirements with regard to the number and size of retirement plans served. Only approximately 2 percent of the firm’s Financial Advisors hold this designation. Being included in this esteemed group of professionals has earned him the trust and confidence of his High Net Worth and Institutional clientele.
Joseph specializes in applying his expertise and market knowledge to design a comprehensive process assisting clients through life stages of wealth management, financial and retirement planning to help create a lasting legacy.
His culture of excellence, marks of achievements and a strong philosophy of putting clients first have led to an expanding network of loyal clients and referrals. As a result he has been recognized by Morgan Stanley, after meeting its elite standards, for Chairman’s and other firm recognition clubs. His personal expectations, accomplishments and discipline to achieve these recognition clubs are testimonial to and an accurate predictor of the sustainable success you can anticipate to help you reach your goals and is what sets him apart.
Joseph Durso is an alumnus of St. Joseph’s University. Out of the office, he serves on the Executive Committee of the Board of Trustees for the Ronald McDonald House of Southern New Jersey and was a former advisory board member of Ronald McDonald House Charities Investment Program. He is an active member of the Association of Professional Investment Consultants. Originally from Philadelphia, Joseph resides in Cherry Hill, NJ with his wife and two children. In his spare time, Joe is an avid golfer and is a member of Medford Village and Atlantic City Country Club.
Securities Agent: SC, DE, AL, VA, FL, DC, AZ, WA, TN, CA, NY, NC, NJ, MD, MA, GA, CO, AR, PA, NH, TX; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1504789
NMLS#: 1504789
About Sarah L. Silva
Sarah L. Silva is a licensed broker and Financial Advisor at Morgan Stanley with 25 years of industry experience. Sarah is a graduate of Rutgers University – Camden School of Business and holds a Bachelor’s Degree in both Finance and Economics. Sarah began her career working in regional banks throughout Southern NJ and Philadelphia, and quickly broadened her experience and training into other areas of the financial services industry and to various parts of the USA. Serving both individual and institutional clients, Sarah offered assistance with business and personal capital investment, insurance, financial planning and management. After some years serving in these areas, Sarah saw the benefits a full service advisory practice could offer her clients and made the decision to become a full-time financial planner and Family Wealth Advisor to a niche market of clients. Sarah concentrates the areas of her practice in creating customized financial planning strategies, capital growth models, business growth planning and retirement services for entrepreneurs and privately held businesses.
Women can be overlooked and heavily scrutinized when it comes to positions of power in finance. Sarah Silva is one of the first women to make a name for herself in finance and achieve great success in this field at Morgan Stanley. In Addition to, developing market insight and the industry acumen necessary to help guide individuals and businesses to financial success at all stages, from the years 2017, 2018 and again in 2019 Sarah was recognized and named to the Firm’s prestigious Pacesetters Club an elite group of the firms successful Financial Advisors for her willingness to stand out , exceptional performance and dedication to clients. Sarah is the only senior woman partner to join the Falcon Legacy Group at Morgan Stanley. Sarah hosts women and wealth dinners advising women on the financial challenges and the many roles they play and the financial obligations they have for themselves and their families. Sarah is a regularly requested speaker at Women’s Events, Financial and Women’s Leadership Forums and at Rutgers University. She is also actively involved with the Rutgers Business Leadership Development Program where she mentors students giving them the understanding of the financial markets and strategies necessary to avoid common financial pitfalls. Sarah also currently serves as Vice President on the Cooper Women’s Board at Cooper Hospital and in 2018 was named as a State Trustee to the Sons of Italy, NJ Chapter. In her spare time, Sarah volunteers regularly with The Ronald McDonald House in Camden, NJ. Sarah also devotes her time improving her community and promoting community enhancement in Moorestown NJ where she resides with her two very active children.
Women can be overlooked and heavily scrutinized when it comes to positions of power in finance. Sarah Silva is one of the first women to make a name for herself in finance and achieve great success in this field at Morgan Stanley. In Addition to, developing market insight and the industry acumen necessary to help guide individuals and businesses to financial success at all stages, from the years 2017, 2018 and again in 2019 Sarah was recognized and named to the Firm’s prestigious Pacesetters Club an elite group of the firms successful Financial Advisors for her willingness to stand out , exceptional performance and dedication to clients. Sarah is the only senior woman partner to join the Falcon Legacy Group at Morgan Stanley. Sarah hosts women and wealth dinners advising women on the financial challenges and the many roles they play and the financial obligations they have for themselves and their families. Sarah is a regularly requested speaker at Women’s Events, Financial and Women’s Leadership Forums and at Rutgers University. She is also actively involved with the Rutgers Business Leadership Development Program where she mentors students giving them the understanding of the financial markets and strategies necessary to avoid common financial pitfalls. Sarah also currently serves as Vice President on the Cooper Women’s Board at Cooper Hospital and in 2018 was named as a State Trustee to the Sons of Italy, NJ Chapter. In her spare time, Sarah volunteers regularly with The Ronald McDonald House in Camden, NJ. Sarah also devotes her time improving her community and promoting community enhancement in Moorestown NJ where she resides with her two very active children.
Securities Agent: DE, OH, MN, DC, MS, MI, AR, MA, IN, AZ, VA, TN, CA, RI, NC, MD, CO, WV, PA, NJ, CT, TX, LA, WA, AL, NY, SC, NM, NH, GA, FL; General Securities Representative; Investment Advisor Representative
NMLS#: 370339
NMLS#: 370339
About Jack A. Jibrine
Jack Jibrine, Financial Advisor, began his career in 1988 at Morgan Stanley. Jack has been a recipient of many awards for outstanding client service and satisfaction. These awards consist of the President’s and Century Council. He earned the President’s Council in 1999 and the Century Council in 2000,2001,2002,2003 and in 2004.
Given his analytical background, Jack focuses on helping clients find out where they stand financially today and developing a practical road map to get them where they want to be.
Jack earned both his Bachelors and Masters of Science from Villanova University. Jack lives in Marlton, New Jersey where he lives with his wife Paula and his two children Amira and Nicole.
Given his analytical background, Jack focuses on helping clients find out where they stand financially today and developing a practical road map to get them where they want to be.
Jack earned both his Bachelors and Masters of Science from Villanova University. Jack lives in Marlton, New Jersey where he lives with his wife Paula and his two children Amira and Nicole.
Securities Agent: FL, DE, DC, AZ, WA, TN, NV, IL, SC, NM, AL, NJ, MS, KY, GA, CA, AR, NC, MI, MA, WY, UT, PA, OK, CO, NY, NH, CT, WV, VA, OH, MD, TX, RI, LA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1274593
CA Insurance License #: 0F74607
NMLS#: 1274593
CA Insurance License #: 0F74607
About Erin Anderson
Erin grew up in Delran, New Jersey and attended Drexel University for her undergraduate education. While at Drexel, Erin gained over two years of cumulative practical experience in Investment Accounting, Private Wealth Management, & Private Equity, while receiving Summa Cum Laude honors in her studies. Erin was also selected to invest for the Drexel University Endowment Fund where she specialized in developing equity research to provide the fund with long-term returns and mitigate risk. Erin’s passion for financial literacy and analysis, working in tandem with her dedication to integrity, help her provide exceptional investment services tailored to her clients. In her spare time, Erin enjoys traveling, watching movies, and spending time with her friends and family.
Securities Agent: NC, IN, WA, VA, MN, MA, FL, CT, ID, CO, UT, SC, OR, OH, HI, DC, CA, AR, TX, RI, PA, NH, MI, ME, NY, NV, MS, IL, AZ, AL, VT, LA, TN, DE, WV, MO, AK, NJ, MT, MD, GA; General Securities Representative; Investment Advisor Representative
NMLS#: 2640865
NMLS#: 2640865
About Elizabeth Reznyk
Libby, a Medford, New Jersey native, earned her Bachelor of Science degree in Economics from Penn State University. After obtaining her SIE, Series 7, and Series 66 licenses upon graduation, she spent three years as a financial analyst at Bank of America. In July 2024, she transitioned to client services and joined the Falcon Legacy Group. Libby is passionate about helping others achieve financial wellness and security, and she is deeply motivated to continue learning and growing within the Wealth Management industry.

Contact Joseph F Durso

Contact Sarah L. Silva

Contact Jack A. Jibrine

Contact Erin Anderson
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By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
About Lorry Rosado
Lorry Rosado is a Private Banker serving Morgan Stanley Wealth Management offices in New Jersey and Pennsylvania.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Lorry began her career in financial services in 1984, and joined Morgan Stanley in 2017. Prior to joining the firm, she served as a Banking Advisor at Merrill Lynch, and a Senior Premier Client Manager at Bank of America.
She currently resides in East Brunswick, NJ with her family.
Outside of the office, Lorry volunteers as a Coach for the Fast Break Basketball Buddy Ball program, focused on providing an opportunity for disabled children and young adults to enjoy the game of basketball. In her free time, she enjoys spending time with her family.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Lorry began her career in financial services in 1984, and joined Morgan Stanley in 2017. Prior to joining the firm, she served as a Banking Advisor at Merrill Lynch, and a Senior Premier Client Manager at Bank of America.
She currently resides in East Brunswick, NJ with her family.
Outside of the office, Lorry volunteers as a Coach for the Fast Break Basketball Buddy Ball program, focused on providing an opportunity for disabled children and young adults to enjoy the game of basketball. In her free time, she enjoys spending time with her family.
NMLS#: 644450
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Ready to start a conversation? Contact Falcon Legacy Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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.
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’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.
5Morgan 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
6Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
9Morgan 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.
10Alternative 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.
11When 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.
12The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
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.
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’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.
5Morgan 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
6Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
9Morgan 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.
10Alternative 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.
11When 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.
12The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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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.
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Awards Disclosures
CRC 6491812 (04/2024)