The Value of Paying for Advice: Family Wealth Management with an intentional purpose

I am a Family Wealth Advisor with over 20-years experience serving high net-worth & ultra-high net worth families of $1 million to $50 million profiles.

Distinct from my peers & competitors. my prior career counseling families within public ministry formed within me invaluable skills that are very effective in wealth management: "process-driven advice when facing major life-changing decisions." Here we help our clients form a team of dedicated advisors (i.e. accountants, attorneys, trust officers and business counselors) who collaborate via our "high touch & disciplined" service.

Families with large sums of investable assets on their family balance statement truly want to receive both tangible monetary value, and relationship value for the advisory fees they pay us.
Among the many points that distinguish our practice begins in helping our clients manage “idiosyncratic investment risk” within Tax, Retirement & Estate planning; while also transitioning their concentrated assets into diversified investment portfolios:
  • Business Owners & Exit Planning: As our client considers the “value of shares” in their company during a formal offer for sale, we advise how “the structure of the deal” impacts their family’s wealth plan
  • Executives & Management of a publicly-traded company: As our client considers the various risks surrounding a concentrated position of their own company stock, we advise tax-smart “transition strategies” for the efficiency of their family’s wealth plan.
  • Extensive experience in: Employee Stock Purchase Plans (ESPPs); Stock Options: ISOs, NQSOs; Restricted Stock Units (RSUs); Rule 144 & 10b5-1 Plans for corporate executives; Company stock in the 401(k) Savings Plan & Net Unrealized Appreciation (NUA)
  • High degree of customization supported by Family Office Resources
  • Consistent discipline in owning fewer number of overall securities
  • Precise focus in controlling tax efficiency
  • Implement "Custom Family Wealth Education Plan" via family-directed Charitable Gift Planning & Socio-Economic Impact Investing
  • Access to Private Client Banking & Lending Solutions within our Branch Office: including Commercial Lending, Mortgage & Home Loan Solutions; Securities Based Lending; Cash Management Solutions; and more
  • Digital Access & Security: Online-Mobile capabilities & Encrypted document vault
  • Open Architecture Corporate Trust Services platform across all 50 states
Learn more about my specialty in Equity Compensation
Services Include
Securities Agent: CO, GA, HI, IA, IL, IN, KS, LA, MD, MI, MN, MO, NC, ND, NJ, NM, NV, NY, OH, OR, PA, SC, SD, TN, TX, VA, WA, WI, FL, AL, AR, AZ, CA; General Securities Representative; Investment Advisor Representative; Managed Futures
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheckLink Opens in New Tab.*

Advancing Financial Planning Excellence and Client Satisfaction

Being an active member of the associations below demonstrates my commitment to the highest standards of ethical and professional conduct in the investment industry. Through these organizations, I have access to a diverse array of educational resources, networking opportunities, and advocacy efforts, which enable me to stay current with industry developments and better serve my clients' financial planning needs.
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    CFA Society Minnesota
    CFA Society Minnesota is a non-profit organization dedicated to promoting ethical and professional standards within the investment industry. With a membership of over 1,300 investment professionals, it provides educational opportunities, networking events, and advocacy for the investment community in Minnesota.
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    National Association of Estate Planning: Twin Cities Chapter
    The Twin Cities Estate Planning Council was established in 1978 to promote multi-disciplinary education, understanding, and cooperation among professionals who are involved in estate planning. It is organized to help its members render the highest possible service to the public by presenting excellent educational programs and networking opportunities.
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    The Investments & Wealth Institute
    The Investments & Wealth Institute is a professional association dedicated to promoting the highest standards of excellence in investment and wealth management. Through rigorous education, certification, and networking opportunities, the Institute helps investment professionals develop their skills and expertise to better serve their clients.
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    Purposeful Planning Institute (PPI)
    PPI) is a nonprofit learning center and professional networking and collaboration platform for advisors and consultants serving families of wealth and families in business. Through PPI programs, gain access to valuable resources and a collaborative community of professionals to transform your practice and client relationships.
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    How can I achieve my financial goals?
    Our team gets to know you and your finances. Together, we build a holistic wealth plan to help achieve your goals:

    • Retirement Planning
    • Education Planning
    • Health Care Expense Planning
    • Life & Long Term Care Insurance
    • Trust & Estate Service Coordination
    • Philanthropy Management
    • Tax Efficient Investment Strategies
    • Cash Management & Lending Solutions
    • Succession Planning
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    How should I be invested?
    Our team creates an investment strategy tailored to help meet your goals and risk tolerance, and can assist with various investment functions:

    • Asset Allocation
    • Portfolio Construction
    • Investment Analysis
    • Manager Selection
    • Risk Management
    • Liquidity Planning
    • Alternative Investment Selection
    • Impact Investment Selection
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    Am I on track to reach my goals?
    We can help you periodically review your investments and progress toward your goals.

    • Regular Account Performance Reviews
    • Portfolio Reviews
    • Budget & Spending Tracking
    • Tax Efficient Investing
    • Contribution (IRA, 529) Deadline Reminders
    • Year-end Planning
    • Wealth Plan adjustments due to changes in your life and family situation
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    Who can help guide me to make concise decisions?
    Our team is here to serve you as a confidant, we can help you with wealth planning for major financial and life decisions.

    • Significant Purchases
    • Helping children and other family members
    • Life Transitions
    • Continuity of wealth plans over generations
    • Family Governance
    • Work with tax and legal advisors to help achieve financial goals

Our Suite of Digital Tools

Morgan Stanley's technology platform is intentionally structured for the ways our clients communicate, purchase products and services, transact business and travel. Our suite of digital client service tools help enhance every aspect of your financial life. Here are several of the technologies we offer and how to begin using them.
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    Digital Balance Sheet via Total Wealth View
    Do you have multiple retirement, investment, cash and bank loan accounts across several different financial institutions? Consider how much easier a Family Digital Balance Sheet with data and balances updated in real time can help you see your entire financial picture. As a Morgan Stanley client, you can conveniently view all your accounts from other financial institutions on Morgan Stanley Online or by using the Morgan Stanley Mobile App:

    • 401(k)s and IRAs
    • Home value
    • Brokerage Accounts
    • Employer Stock Plan Accounts
    • Checking/Savings
    • Insurance & Annuities
    • Mortgage & Home Equity Line of Credit
    • Securities Based Loans
    • Credit cards
    • Auto loans
    • Personal loans
    Create your Family’s Digital Balance Sheet
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    e-Delivery
    e-Delivery provides you with digitally encrypted access to statements and other client documents, electronically:

    • Statements (monthly, quarterly & year-end)
    • Trade confirmations
    • Syndicate Offerings
    • Portfolio Reports
    • General correspondence
    • Shareholder communications
    • Internal Revenue Service (IRS) tax documents
    Sign up for e-Delivery
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    Family Digital Vault
    Our Morgan Stanley Digital Vault provides you convenient access to your most important family and business documents. Accessed via your Morgan Stanley On-Line account, your Digital Vault is securely encrypted. Additionally, all uploaded documents are scanned for viruses and encrypted for an extra layer of security.

    • Living Will
    • Power of Attorney
    • Healthcare Directive
    • Estate Planning documents
    • Trust Agreements
    • Insurance policy documents
    • Articles of incorporation
    • Corporate bylaws
    • Buy-sell agreements
    • Loan documents
    Set-up your Family Digital Vault
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    Secure E-Mail at Morgan Stanley
    Our Secure E-mail tool is one way for you to exchange messages and documents containing sensitive information with your advisor's team at Morgan Stanley. You can send encrypted message to us via Secure E-mail. Encryption is designed to prevent your confidential information from being revealed to unauthorized parties
    Secure E-Mail: What you need to know
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    Third-Party User: View-only On-Line Access for your Tax Advisor and Legal Counsel
    Your Morgan Stanley Online account has the ability to provide a third-party user (e.g. accountants or attorneys) view-only access to see your account information and download relevant encrypted account documents. While third-party users have access to the accounts you specify, they cannot perform transactions such as trading, transferring money or paying bills. Conveniently, you no longer need to collect and e-mail several important documents each year at “tax-time” . Your accountants can retrieve such documents on their own.
    Get your tax advisor and legal counsel started with view-only access
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    e-Sign client documents via Docusign®
    You can now safely access and electronically sign your client documents with Morgan Stanley’s e-Sign via Docusign®. All document e-signatures are completed using an enterprise-level electronic signature process that are digitally encrypted, secure and easily accessible via your Morgan Stanley On-Line account. To use e-Sign, all you need is a valid email address and phone number. The personal identification number (PIN) can be delivered via phone call or via text message.
    e-Sign via Docusign® Client Guide
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    e-Authorizations
    e-Authorizations (e-Auth) allows you to electronically authorize domestic and international, one-time/recurring transactions through Morgan Stanley Online and the Morgan Stanley Mobile App.
    e-Authorizations Client Guide
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    Zelle®
    Zelle® is a great way to electronically send money to friends and family, even if they bank somewhere else different than you do. By entering their e-mail or mobile phone number within your Morgan Stanley mobile app or desktop, your friends and family can receive money in minutes. Morgan Stanley does not charge fees to send or receive money using Send Money with Zelle® .
    Get started with Zelle®

Investor Resources

Morgan Stanley remains a world leading wealth management firm distinguished by a culture of investment excellence for you as our client. In continuing to deliver this experience for you, we offer these regularly broadcast Podcasts, and published Research Reports on the Global Capital Markets & Economy:
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    Thoughts On The Market Podcast
    Welcome to Thoughts on the Market. Mike Wilson, Chief Investment Officer and Chief U.S. Equity Strategist for Morgan Stanley; along with his colleagues, bring you a variety of perspectives about the latest trends in the financial marketplace.
    Let's get after it!
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    Global Investment Committee (GIC) Weekly Research Report
    The Global Investment Committee's Lisa Shalett headlines this weekly look at the capital markets, asset class performance, equities and fixed income.
    The GIC Weekly
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    Morgan Stanley Ideas Podcast
    Welcome to Season 4 of Morgan Stanley’s Ideas Podcast, hosted by Ashley Milne-Tyte. In this season, we look to the future and how daily life will be different: 10, 20, even 50 years from now. In pursuing answers to this question, we go to the places where the future is already happening. Yes, the future is already happening somewhere… it is just a matter of knowing where to find it.
    Let’s listen to revealing stories about the world of business, finance, technology and beyond.
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    On The Markets Monthly Research Report
    Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
    On the Markets

Client Service Team

    Carousel Associate Image
    Dominic Dowd - Client Service Associate
    Phone:
    (612) 340-6744(612) 340-6744
    Email:Dominic.Dowd@morganstanley.com
    I am committed to being an energetic, positive, and passionate Client Service Associate, dedicated to serving our clients. I joined Morgan Stanley in January 2023 after working in the fitness and physical therapy industries for 12 years.

    I earned a B.S. from Gustavus Adolphus College and a graduate degree from the AAS program from St. Catherine University – Minneapolis campus. I was born and raised in Rogers, Minnesota. I enjoy hunting, fishing, and golf. I also love camping weekends, summer nights grilling, and playing cribbage with my wife Cassandra. She usually wins; but if you were to ask me, I am convinced she must be cheating... somehow.

    Please feel free to contact me with any client service questions or needs.

Location

225 South 6th St
Ste 5300
Minneapolis, MN 55402
US
Direct:
(612) 340-6723(612) 340-6723
Toll-Free:
(800) 927-1990(800) 927-1990
Fax:
(952) 921-1944(952) 921-1944

The Power of Partnerships

By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Photo of Thomas W Parks

Thomas W Parks, CIMA®

Managing Director, Wealth Management, Institutional Consulting Director, Government Entity Specialist, Alternative Investments Director, Corporate Retirement Director, Financial Wellness Director, Investing with Impact Director
Photo of Michael Gallagher

Michael Gallagher

Managing Director, Wealth Management, Financial Advisor, Corporate Client Group Director
Morgan Stanley Wealth Management Financial Advisers can conduct their business in several ways: individually, as a member of a team of Financial Advisors, or through the formation of a Strategic Partnership with another Financial Advisor or team of Financial Advisors. A Strategic Partnership is an arrangement between a Financial Advisor or a team of Financial Advisors with another Financial Advisor or team of Financial Advisors that has a unique focus or knowledge regarding a specific business concentration, product area, and/or client type. If your account is with an individual Financial Advisor, that Financial Advisor services all facets of your account. If your account is with a Financial Advisor who is a member of a team, any Financial Advisor on the team can service your account. If your Financial Advisor is part of a Strategic Partnership, his or her role in that Strategic Partnership may be limited to a specific business and/or product area and may not cover all facets of your account. The use of the terms “Partner” or “Strategic Partner” and/or “Partnership” or “Strategic Partnership” are used as terms of art and not used to imply or connote any legal relationship.

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
Learn More about Retirement
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Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Qualified Retirement Plans
Learn More about Business Planning
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Financial Planning for Life After Selling a Business

Selling your business can mean big changes for your life, both personally and financially. Know how to make the most of your windfall.

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
Learn More about Philanthropy
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Donor Advised Funds: A Smart Way to Manage Your Giving 

There’s more to charitable giving than you may realize. Here’s one method that may be a tax-efficient way to give and can help maximize your impact.

Financial Wellness

Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
  • Reduce employee stress,
  • Improve retention and engagement, and
  • Set themselves apart by offering comprehensive financial wellness benefits.
Learn More about Financial Wellness
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The Business Case for a Financially Resilient Workforce

In the face of turbulent markets, the word “resilience” may be top of mind. Broadly speaking, resilience is the ability to “bounce back” when encountering life’s inevitable challenges.
Ready to start a conversation? Contact James H Lannan today.
Market Information Delayed 20 Minutes
1When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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

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2Morgan 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.

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3Morgan 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.

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4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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5Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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7Morgan 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.

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8Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.

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9Alternative 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.

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10Investors 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.

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11Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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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.

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13Morgan 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.

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14Morgan 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.

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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 DisclosuresLink Opens in New Tab
CRC 6491812 (04/2024), 3582895 (6/2024)