OUR SERVICES AND VALUES

Welcome to the Meltzer Dunn Fakhoury Group at Morgan Stanley Private Wealth Management.

  • Our team offers two integrated practices designed to provide an exceptional experience, and cater to both high-net-worth and emerging-wealth profile clients.
  • Our Private Wealth Management practice focuses on the needs of high-net-worth individuals, families, businesses, and foundations. Areas of focus include tax efficiency, wealth structuring, business transition and legacy planning, trust & estate review/optimization, advanced insurance planning, and portfolio risk management. Our Emerging Wealth Practice leverages the resources and experience of the full team to deliver the same dedication and service to clients in the accumulation phase of their lives. Emphasis is on long-term financial planning and asset allocation.

Our practice centers around four core values:

1. Service

  • Deliver deeply thoughtful and distinct advice regarding asset allocation, as well as levels of service and experience that make all clients referenceable.
  • Timely communication is table stakes.
  • Attention to detail is a must in our business.
  • Actively look for opportunities to go above and beyond expectations of clients.

2. Proactive & Collaborative Approach

  • We strive to stay ahead of changes, not react to them, and we always communicate our view of them quickly.
  • It is our responsibility to know what is happening in the economy and markets, and how it impacts our clients.
  • We make decisions with clients collaboratively. Where it's welcome, we educate clients, and want them to be completely confident with the "what" and the "why" at all times.

3. Accountability

  • Integrity. It is our duty to put our clients' best interest first, ahead of all other considerations.
  • Due diligence. Research and debate potential allocations. We recommend only those investments that are rigorously vetted and agreed upon by our team's Investment Committee.
  • Transparency. We want clients to know and understand everything they own, why they own it, how they own it (from a tax efficiency perspective), and what fees they are paying.
  • Hard work. In finding ways to help clients, we leave no stone unturned, and offer nothing less than our best. No detail is too small – we track down answers to virtually every question.

4. Family

  • This is more than a job for us, and we live that every day. It is reflected in how we care and work for our clients and each other.
  • Our clients are an extension of our family.
  • We are honored that multi-generational relationships spanning decades are the rule among our clients, not the exception. Thanks to the trust our clients have placed in us, Louis Meltzer, Jacob Dunn, and Hadi Fakhoury have all been named to Forbes' list of Best-in-State Advisors and/or Top Next-Generation Wealth Advisors for 2023.

Forbes Best-In-State Wealth Management Teams 2024 Source: Forbes.com (awarded Jan 2024) data compiled by Shook Research LLC based on time period from 3/31/22-3/31/23.

Forbes America's Top Wealth Advisors & Best-In-State Wealth Advisors Source: Forbes.com (Awarded April 2023) Data compiled by SHOOK Research LLC based on time period from 6/30/21 - 6/30/22.

Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State Source: Forbes.com (Awarded Aug 2023) Data compiled by SHOOK Research LLC based on time period from 3/31/22 - 3/31/23.

Visit Our Team Website
Securities Agent: DE, VI, WV, SC, RI, FL, MT, KY, KS, CA, NJ, ME, DC, AL, NC, MN, MD, CT, WI, VT, VA, OR, NV, LA, HI, AZ, TN, PA, NM, ND, MS, MI, MA, CO, WY, TX, OK, OH, NY, NH, MO, IN, ID, IA, AR, AK, WA, UT, SD, IL, GA, NE; General Securities Representative; Investment Advisor Representative
NMLS#: 577769
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

About PWM

Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
  • Manage investments with an unwavering focus on your financial strategy and personal goals
  • Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
  • Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
  • Approximately 300 teams specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $1.2 trillion in AUM
  • Comprising 26% of the Barron’s Top 100 Financial Advisors list for 2025
  • Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, September 2025

Source: Barron's (Awarded March 2025) This ranking was determined based on an evaluation process conducted by Barron's for the period Oct 2023-Sept 2024. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to Barron's to obtain or use the ranking. This ranking is based on an algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the assessment of Barron's and may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.

Approach

Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.
Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.
Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.
Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.
Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.
Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.

RECOGNITION

    Icon Image
    Forbes Best-In-State Wealth Management Teams 2024
    Source: Forbes.com (awarded Jan 2024) data compiled by Shook Research LLC based on time period from 3/31/22-3/31/23.
    View Award Methodology Here
    Icon Image
    Jake Dunn - America's Top Next-Gen Wealth Advisors 2023
    Data provided by Shook® Research, LLC. Data as of 3/31/23 source: Forbes.com (August, 2023). Shook considered advisors born in 1984 or later with a minimum 4 years as an advisor.
    View Forbes Profile
    Icon Image
    Jake Dunn - Forbes Best-In-State Wealth Advisors 2023
    Source: Forbes.com (awarded Apr 2023) data compiled by Shook Research LLC based on time period from 6/30/21 - 6/30/22.
    Icon Image
    Jake Dunn - Top Next-Gen Wealth Advisors Best-In-State 2023
    Data provided by Shook® Research, LLC. Data as of 3/31/23 source: Forbes.com (August, 2023). Shook considered advisors born in 1984 or later with a minimum 4 years as an advisor.

WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

Our mission is to help your company elevate your workplace financial benefits—helping you to attract and retain top talent. Our end-to-end solutions support your company and employees at any stage of growth through a powerful combination of modern technology, insightful guidance, and dedicated service.

    Equity Solutions

    Equity ownership is a powerful motivator. Streamline equity management through our leading-edge technology and provide global audit-ready reporting and insights, alongside customizable participant experiences to engage and educate your employees on how to make the most of their benefits. Our global solutions support private and public companies at any stage of growth.

    • Equity Administration and Financial Reporting
    • Liquidity Events
    • 409A Valuation Services and Cap Table Management

    Learn more
    Retirement

    For your employees, retirement is more than a date in the future—it's a milestone that takes time, hard work, and the right tools. Through our consultative process, we strive to assist with the management of your fiduciary responsibilities and risk, simplify plan management, and help you improve retirement readiness for your employees.

    • Defined Contribution Consulting
    • Solutions-Oriented Plans
    • Fiduciary Investment Oversight

    Learn more
    Deferred Compensation

    Access a range of Nonqualified Deferred Compensation plan services or pick the ones that best fit your needs. We provide recordkeeping and plan design, portfolio construction services, and plan education for your executive talent. We help you determine the appropriate plan design and inform a funding strategy through a needs-based assessment and consultative approach.

    Services include:

    • Recordkeeping and Plan Design
    • Portfolio Construction
    • Wealth Management Services
    Learn more
    Executive Services

    Our dedicated team provides concierge-level support for your executives' equity compensation plans, from 10b5-1 trading plans to form filing related to Rule 144 transactions, to access to wealth management and tax-optimization strategies, so helping them navigate their complex financial needs with greater confidence and certainty:

    • Equity Compensation Services
    • Equity Award Analysis
    • Specialized Solutions
    Learn more
    Saving and Giving

    Saving and Giving benefits can make a real difference in your employees' lives as they can support the things that matter most to them—like saving for education and repaying student loans. Show that you are committed to your employees' priorities with leading-edge solutions that help them chart a path toward financial well-being.

    • College Savings
    • Student Loan Repayment and Refinancing
    • Charitable Giving
    Learn more
    Financial Wellness

    We offer Financial Wellness with every solution we provide. Through a powerful combination of education, digital tools and guidance, Financial Wellness is designed to address the unique needs of your employees and empower their financial journey at every stage. Give your employees the confidence to take charge of their finances.

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

Location

28 State Street 26th
Fl
Boston, MA 02109
US
Direct:
(212) 492-6746(212) 492-6746

Meet My Team

Photo of Kristen Paulsen

Kristen Paulsen

Senior Client Service Associate
Phone:
(212) 492-6758(212) 492-6758
Wealth Management
Global Investment Office

Portfolio Insights

Read More about On the Markets
Read "On the Markets"
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Equity Compensation

Helping you make the most of your equity awards and better understand how it may fit into your your larger financial picture – today and tomorrow.

  • Vesting events
  • Option expirations
  • Restricted stock units
  • Tax implications

Managing Significant Wealth

  • Investment Management
  • Wealth Transfer & Philanthropy
  • Cash Management & Lending
  • Family Governance & Wealth Education
  • Lifestyle Advisory
  • Business Services
Learn More about Managing Significant Wealth
Compensation Practices of Investment-Focused Family Offices
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Compensation Practices of Investment-Focused Family Offices

Competitive compensation is key to attracting and retaining the best talent for your single family office. Discover the latest trends on relevant pay, benefits and bonus structures in Morgan Stanley's 2025 benchmarking report.

Insights and Outcomes

Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
Learn More about Insights and Outcomes
Larry Fitzgerald Jr.'s Playbook on Leadership and Values
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Larry Fitzgerald Jr.'s Playbook on Leadership and Values

The renowned NFL wide receiver shares insights on aligning your investments with your values.

Private Wealth Management Podcast

Bringing you engaging stories and key insights surrounding the complexities associated with significant wealth, including:
  • Intergenerational Planning
  • Philanthropic Giving
  • Non-Traditional Assets
  • Managing Family Wealth
Learn More about Private Wealth Management Podcast
LISTEN | Passion Assets: Investing in Art
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LISTEN | Passion Assets: Investing in Art

When a passion for collecting evolves into something of considerable value, new issues are raised. Hear what the professionals have to say about the best practices and pitfalls of collecting art and collectibles.
We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
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.

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.

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.

Asset Allocation does not assure a profit or protect against loss in declining financial markets.

The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.

Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.

Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.

For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.

See the Financial Advisors Biographies for Registration and Licensing information.

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.

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Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.

Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.

Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.

Private Bankers are employees of Morgan Stanley Private Bank, National Association.

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

Awards Disclosures | Morgan Stanley
CRC 4237142 (02/2025)