Senior Vice President, Branch Manager, Portfolio Management Director, Financial Planning Specialist
Phone:
(256) 552-9433(256) 552-9433
Industry Award WinnerOur Mission Statement
To guide, protect and enhance your financial life by understanding your unique situation through considerate planning, providing customized recommendations, monitoring, and regular communication.
Our Story and Services
As your Financial Advisors, we will listen to your desires and goals, getting a comprehensive picture of how you invest and what it is you want to achieve. We’ve forged strong relationships built on trust with all of our clients and have taken them through decades of ups and downs in the market.
Our sole intention is to use the vast array of resources the firm has to offer, our extensive knowledge and experience, and our network of seasoned investment professionals to grow and preserve your wealth, stemming from a tailored plan. You will have access to a premier trading and execution platform and a thorough and complete spectrum of investment choices. Do not worry about complex concepts and terms, we will simplify them so you can focus on your day-to-day. We will make sure you understand our strategies to get you to your goals and put them in layman’s terms so we can execute on your behalf and you can be assured your wealth is in good hands.
Our sole intention is to use the vast array of resources the firm has to offer, our extensive knowledge and experience, and our network of seasoned investment professionals to grow and preserve your wealth, stemming from a tailored plan. You will have access to a premier trading and execution platform and a thorough and complete spectrum of investment choices. Do not worry about complex concepts and terms, we will simplify them so you can focus on your day-to-day. We will make sure you understand our strategies to get you to your goals and put them in layman’s terms so we can execute on your behalf and you can be assured your wealth is in good hands.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
The Lakeside Approach
Charting a clear, confident course to financial success begins with understanding your values, priorities and aspirations. Working together, we define what is most important to you and develop the strategies to help get you there.
1: Establish & Understand Your Goals
One size does not fit all investors. The commitment we make to every client is to take the time to know who you are as an investor and understand your unique goals.
2: Develop A Plan
We collaborate with you to perform an in depth evaluation of your current situation. Using your goals we create a thoughtful strategy which maps out a clear path for success.
3: Design Your Unique Portfolio
Once we have a solid understanding of where you stand financially and a clear understanding of your desired goals. We will make recommendations using proprietary tools and insights from Morgan Stanley to personalize a plan designed to help meet your goals and expectations.
4: Monitor & Communicate
We will monitor our performance relative to your goals. We analyze your performance tracking data seeking to ensure your financial expectations are being met and adjusted accordingly. We are committed to premium service. We focus on a relationship that will bring value to you and your family. Because your goals evolve over time we maintain ongoing communication to ensure your plan remains on schedule to pursue your goals.
Morgan Stanley's Digital Offerings
Morgan Stanley's comprehensive suite of digital tools have been carefully designed to help enhance each aspect of your financial portfolio. To make the onboarding process as simple as possible we have gathered some of our most essential resources. You can find more information and steps to getting started below.
Morgan Stanley Online
Morgan Stanley Online allows you to seamlessly and securely manage your investments and everyday finances in one place.
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Total Wealth View
With this service, you can view all your assets and liabilities together – Completing your financial picture with Total Wealth View gives our clients the benefit of more informed wealth planning, more secure data access, and convenient connectivity.
Learn More Here
Morgan Stanley Mobile App
The Morgan Stanley Mobile App gives you the same capabilities as Morgan Stanley Online – all from the convenience of your own phone. It also offers features to simplify your everyday finances.
Learn More Here
Digital Vault
Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
Get Started Today
Financial Planning
Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our cutting edge tools- Goals Planning System (GPS) and LifeView.
Morgan Stanley Goals-Based Wealth ManagementLakeside News and Insights
We always keep our clients up to speed on the market, our team, and general lifestyle trends. Below you can find our newsletters, resources, and lifestyle bits.
Investor Resources
Financial education leads to better insights into investment strategy and ultimately, better long term decisions. As a result, we are committed to providing you with important information about managing your wealth more effectively in all market conditions. We have assembled a collection of resources that reinforce the fundamental investment strategies and concepts of our practice. We’ve provided links to these materials, where available, and hope you’ll return often to learn more about the topics that impact your overall wealth.
Global Investment Committee on the Markets
A monthly publication that summarizes the Global Investment Committee’s market outlook and contains thought-provoking essays that examine the forces shaping the investment landscape. Check out this month's edition here.
Access this Months Publication Here
Global Investment Office
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Morgan Stanley Portfolio Insights
Retirement Planning
It’s important to determine how much money you may need to save for a comfortable retirement. Here are six simple steps to help you determine whether you are on track to meet your retirement needs.
Learn More Here
Reserved Living & Giving
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's most valued clients. Members can enjoy special discounts and timely insights to support them at home and beyond.
Learn More about Reserved Living & Giving
Online Security Center
Learn about our extensive security measures and take advantage of our vast array of resources and ideas that are geared towards helping you stay protected on the World Wide Web.
Learn More about the Online Security CenterAWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
300 Market Street NE
Suite 101
Decatur, AL 35601
US
Toll-Free:
(800) 253-0822(800) 253-0822
7530 Parker Road
Suite 100
Fairhope, AL 56532
US
Direct:
(251) 990-2943(251) 990-2943
Meet Lakeside Group
Senior Vice President, Financial Advisor, Financial Planning Specialist, Portfolio Management Director
Phone:
(256) 552-9431(256) 552-9431
Phone:
(251) 990-2943(251) 990-2943
Barry Hill
First Vice President, Financial Advisor
Phone:
(256) 552-9438(256) 552-9438
Kristen Hall
Portfolio Associate
Phone:
(251) 990-2947(251) 990-2947
DaChrista Dean
Senior Client Service Associate
Phone:
(256) 552-9444(256) 552-9444
Kelsey Nichols
Client Service Associate
Phone:
(256) 552-9439(256) 552-9439
Sarah K. Smith (Strategic Partner), CPWA®
Senior Vice President, Financial Advisor, Corporate Retirement Director
Phone:
(256) 552-9441(256) 552-9441
About Lee Clark
Lee Clark is a Senior Vice President, Portfolio Management Director, and Branch Manager at the Lakeside Group of Morgan Stanley. With over 25 years of experience in the financial industry, Lee has been a dedicated member of Morgan Stanley since 2000.
Lee's extensive experience has honed his ability to deliver exceptional service to his clients. He is a strong advocate of a goals-based approach to financial success. His process begins with a comprehensive analysis of his clients' needs, aspirations, and concerns, enabling him to effectively guide them toward their financial objectives. Lee emphasizes the importance of managing clients' balance sheets to help them address critical questions about their long-term goals, such as retirement planning, Social Security benefits, and wealth transfer strategies. Through this insightful discovery process, Lee crafts holistic plans tailored to each client's unique needs.
Lee's journey into financial advising was fueled by his passion for helping others achieve their financial aspirations. His interest in finance was sparked during his undergraduate studies when he was introduced to the concepts of compounding and stock market theory. This fascination led him to pursue an MBA from the University of North Alabama. Initially working in sales, Lee began investing with a Financial Advisor, which deepened his understanding and enthusiasm for finance. Recognizing his natural talent, his advisor encouraged him to pursue a career in financial advising. Lee joined Merrill Lynch in 1998, marking the beginning of his professional journey.
Beyond his professional commitments, Lee is actively involved in his community, volunteering at his local church and participating in various fundraising initiatives. In his leisure time, he enjoys playing golf.
Lee holds a Bachelor of Business Administration and a Master of Business Administration from the University of North Alabama. He is licensed with the Series 7, 9, 10, and 66 FINRA licenses and holds the Financial Planning Specialist and Portfolio Management Director designations.
Lee's extensive experience has honed his ability to deliver exceptional service to his clients. He is a strong advocate of a goals-based approach to financial success. His process begins with a comprehensive analysis of his clients' needs, aspirations, and concerns, enabling him to effectively guide them toward their financial objectives. Lee emphasizes the importance of managing clients' balance sheets to help them address critical questions about their long-term goals, such as retirement planning, Social Security benefits, and wealth transfer strategies. Through this insightful discovery process, Lee crafts holistic plans tailored to each client's unique needs.
Lee's journey into financial advising was fueled by his passion for helping others achieve their financial aspirations. His interest in finance was sparked during his undergraduate studies when he was introduced to the concepts of compounding and stock market theory. This fascination led him to pursue an MBA from the University of North Alabama. Initially working in sales, Lee began investing with a Financial Advisor, which deepened his understanding and enthusiasm for finance. Recognizing his natural talent, his advisor encouraged him to pursue a career in financial advising. Lee joined Merrill Lynch in 1998, marking the beginning of his professional journey.
Beyond his professional commitments, Lee is actively involved in his community, volunteering at his local church and participating in various fundraising initiatives. In his leisure time, he enjoys playing golf.
Lee holds a Bachelor of Business Administration and a Master of Business Administration from the University of North Alabama. He is licensed with the Series 7, 9, 10, and 66 FINRA licenses and holds the Financial Planning Specialist and Portfolio Management Director designations.
Securities Agent: WV, WI, WA, VI, VA, UT, TN, SD, SC, RI, PR, PA, OR, OH, NY, NV, NJ, NH, NE, NC, MT, MS, MO, MN, MI, ME, MD, MA, LA, KY, KS, IN, IL, ID, ND, IA, HI, GA, NM, FL, DE, DC, OK, CT, CO, CA, AZ, AR, AL, AK, TX, WY, VT; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 1253064
NMLS#: 1253064
About Jon Anderson
Jon Anderson is a seasoned Financial Advisor and Senior Vice President at the Lakeside Group of Morgan Stanley, where he has been a valued team member since 2001. His investment career began in 1998 with Merrill Lynch, and he brings over 25 years of industry expertise to his role.
Jon's investment philosophy is rooted in the belief that each client has unique circumstances that require a personalized, goals-oriented investment strategy. His approach emphasizes tailored financial planning, allowing for strategic asset allocation that aims to minimize risk while achieving clients' objectives. Jon's process is adaptable, helping ensure that plans can adjust to unforeseen events.
Central to Jon's practice is a robust client service model that prioritizes experience, dedication, and relationship building. He strives to develop deep relationships with his clients to fully understand their expectations, goals, and risk tolerance. Drawing from his experience as a former USMC officer, Jon applies the values of hard work, perseverance, and service to his role as a Financial Advisor.
Beyond his professional commitments, Jon is deeply involved in his community. For over 20 years, he has held leadership roles in the Hartselle Kiwanis Club, an organization dedicated to making a lasting impact on children's lives. He also volunteers with his local church and actively supports nearby school districts. Despite his numerous responsibilities, Jon remains a devoted husband and father. He is married to his wife, Deanna, and they have two children, Maggie and Hilton. In his leisure time, Jon enjoys hiking, running, and driving his tractor.
Jon holds a Bachelor's degree from Samford University and a Master of Business Administration from the University of North Alabama. He is licensed with the Series 7 and 63 FINRA licenses.
Jon's investment philosophy is rooted in the belief that each client has unique circumstances that require a personalized, goals-oriented investment strategy. His approach emphasizes tailored financial planning, allowing for strategic asset allocation that aims to minimize risk while achieving clients' objectives. Jon's process is adaptable, helping ensure that plans can adjust to unforeseen events.
Central to Jon's practice is a robust client service model that prioritizes experience, dedication, and relationship building. He strives to develop deep relationships with his clients to fully understand their expectations, goals, and risk tolerance. Drawing from his experience as a former USMC officer, Jon applies the values of hard work, perseverance, and service to his role as a Financial Advisor.
Beyond his professional commitments, Jon is deeply involved in his community. For over 20 years, he has held leadership roles in the Hartselle Kiwanis Club, an organization dedicated to making a lasting impact on children's lives. He also volunteers with his local church and actively supports nearby school districts. Despite his numerous responsibilities, Jon remains a devoted husband and father. He is married to his wife, Deanna, and they have two children, Maggie and Hilton. In his leisure time, Jon enjoys hiking, running, and driving his tractor.
Jon holds a Bachelor's degree from Samford University and a Master of Business Administration from the University of North Alabama. He is licensed with the Series 7 and 63 FINRA licenses.
Securities Agent: MD, FL, AL, WA, TN, NC, MO, IN, IL, VA, OK, NV, KY, CT, PA, OH, NM, CO, ID, WY, TX, OR, CA, NY, MA, IA, GA, DE, AZ, AR, WI, SC, MT, MI, NE, ND, LA, UT, MS; General Securities Representative; Investment Advisor Representative
NMLS#: 2455818
NMLS#: 2455818
About Ralph Anderson
Ralph Anderson has over 30 years experience in financial services at Morgan Stanley and its predecessor firms where he continues to proudly help guide clients through all market conditions. He prides himself on taking the time to understand each client's lifetime goals and their financial objectives.
Prior to starting his career in the financial services industry, Ralph attended the University of West Florida where he earned a BA in Accounting. In addition, he earned his CFP designation from the College for Financial Planning. As a CFP, Ralph prioritizes developing a unique financial plan for each client and actively managing their affairs according to that plan.
Outside of work, Ralph enjoys spending time with his family. He has been happily married for 36 years and has three children and a dog. He also helped form a Christian Business Men’s Connection group in Fairhope, Alabama in 2019. CBMC connects business and professional men to God and each other through Christian peer groups and one-on-one mentoring, so they become more like the men God designed them to be. Ralph is a member of the Advisory Board for the Student-run Jaguar Investment Fund at the University of South Alabama.
Prior to starting his career in the financial services industry, Ralph attended the University of West Florida where he earned a BA in Accounting. In addition, he earned his CFP designation from the College for Financial Planning. As a CFP, Ralph prioritizes developing a unique financial plan for each client and actively managing their affairs according to that plan.
Outside of work, Ralph enjoys spending time with his family. He has been happily married for 36 years and has three children and a dog. He also helped form a Christian Business Men’s Connection group in Fairhope, Alabama in 2019. CBMC connects business and professional men to God and each other through Christian peer groups and one-on-one mentoring, so they become more like the men God designed them to be. Ralph is a member of the Advisory Board for the Student-run Jaguar Investment Fund at the University of South Alabama.
Securities Agent: NC, GA, WA, SC, IN, CO, WI, NV, NM, KY, IA, WY, NY, ND, MD, VA, LA, FL, CA, MT, PA, NE, MI, AL, TX, TN, MS, IL, AR, OR, MO, MA, ID, UT; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1265199
NMLS#: 1265199
About Barry Hill
Barry received a bachelor’s degree in business at Faulkner University. Barry currently holds the Series 7, 31, and 63 FINRA licenses.
Barry was the Vice President of First Federal/Union Planters Bank and Vice President of First American Bank before becoming a financial advisor. He began his advising career with Merrill Lynch in 1998, moved to Morgan Keegan & Company in 2000, Raymond James in 2003, and joined Morgan Stanley in February of 2026.
With over two decades in the industry, Barry believes in listening to your wants, needs, and fears when building your financial plan and that there is no “one-fits-all” approach.
Outside of the office, Barry loves spending time with his family: his wife, Kim, son, Brandon, daughter, Abbi, four grandchildren: Hattie, Audrey, Lily, and Isaac, and his furry child, Fenway who brings out all the energy. Barry also loves being outside; you may catch him on a baseball field, camping in the mountains, or working on a project in his shop.
Barry was the Vice President of First Federal/Union Planters Bank and Vice President of First American Bank before becoming a financial advisor. He began his advising career with Merrill Lynch in 1998, moved to Morgan Keegan & Company in 2000, Raymond James in 2003, and joined Morgan Stanley in February of 2026.
With over two decades in the industry, Barry believes in listening to your wants, needs, and fears when building your financial plan and that there is no “one-fits-all” approach.
Outside of the office, Barry loves spending time with his family: his wife, Kim, son, Brandon, daughter, Abbi, four grandchildren: Hattie, Audrey, Lily, and Isaac, and his furry child, Fenway who brings out all the energy. Barry also loves being outside; you may catch him on a baseball field, camping in the mountains, or working on a project in his shop.
Securities Agent: WI, MO, AL, WA, VA, UT, TX, OR, CT, OK, FL, CO, AR, MS, TN, ND, NC, GA, AZ, NM, IA, NV, LA, WY, MT, MA, KY, DE, CA, NY, ID, MD, IL, OH, IN, SC, NE, MI, PA; General Securities Representative; Investment Advisor Representative
About Kristen Hall
Kristen Hall is a Portfolio Associate working with Ralph Anderson in Fairhope, AL. Kristen graduated cum laude with a B.S. in Business Administration, major in Marketing from The University of South Alabama. Kristen has worked at Morgan Stanley since May 2017. She has worked in the finance industry since May 2014.
About DaChrista Dean
As a Senior Client Service Associate and Assistant to the Branch Manager with more than 2 decades of financial industry experience, DaChrista focuses on providing excellent customer service and building strong client relationships. DaChrista works with Lee Clark Jr. and Jon Anderson in Decatur, AL. She has been a member of the Morgan Stanley family since 2011.
DaChrista graduated with an Associate’s Degree in Business Administration from Virginia College in Birmingham, AL.
Outside of the office, DaChrista enjoys life with her husband Kevin and their two dogs. Spending time with family, church family and friends are important to them. They love to travel and grow vegetables in their garden.
DaChrista graduated with an Associate’s Degree in Business Administration from Virginia College in Birmingham, AL.
Outside of the office, DaChrista enjoys life with her husband Kevin and their two dogs. Spending time with family, church family and friends are important to them. They love to travel and grow vegetables in their garden.
About Kelsey Nichols
Kelsey Nichols received a bachelor’s degree in Business Administration in Accounting from the University of North Alabama. She began working with Barry in 2019 at Raymond James and joined him at Morgan Stanley in February of 2026. Kelsey is currently studying for her Series 7 License.
Kelsey’s organizational and written skills and attention to detail help ensure that our clients’ needs are met efficiently and promptly.
Out of the office, Kelsey enjoys spending time with her husband, Jared, their goldendoodle, Oakley, family, and friends. Kelsey loves crafting and playing board games, but in the Fall, you’ll catch her playing Fantasy Football.
Kelsey’s organizational and written skills and attention to detail help ensure that our clients’ needs are met efficiently and promptly.
Out of the office, Kelsey enjoys spending time with her husband, Jared, their goldendoodle, Oakley, family, and friends. Kelsey loves crafting and playing board games, but in the Fall, you’ll catch her playing Fantasy Football.
About Sarah K. Smith (Strategic Partner)
Securities Agent: NY, DC, WV, VA, NJ, WY, SD, SC, LA, IN, AL, WI, WA, NH, NC, MA, KY, CA, MI, HI, FL, TX, IL, GA, NM, MS, MO, ID, CT, AR, TN, KS, OK, MT, AZ, MD, DE, CO, IA, PA, OH, NV; General Securities Representative; Investment Advisor Representative
Contact Lee Clark
Contact Jon Anderson
Contact Ralph Anderson
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2025-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2025-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Forbes Best-In-State Wealth Advisors
Forbes Best-In-State Wealth Advisors Source: Forbes.com (Awarded April 2026) Data compiled by SHOOK Research LLC for the period 6/30/24-6/30/25.
2
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
Brendan Borowsky
Planning Associate
About Brendan Borowsky
Brendan Borowsky is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define the goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. Brendan provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from Texas Christian University and received the Financial Planning Specialist® designation from the College for Financial Planning. Brendan is originally from White Plains, NY and currently resides in Alpharetta, GA.
He earned his undergraduate degree from Texas Christian University and received the Financial Planning Specialist® designation from the College for Financial Planning. Brendan is originally from White Plains, NY and currently resides in Alpharetta, GA.
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
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.
When 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.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
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.
When 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.
Wealth Management
Global Investment Office
Portfolio Insights
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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
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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
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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
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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
Financial Planning for Life After Selling a Business
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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
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.
Ready to start a conversation? Contact Lakeside Group today.
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.
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.
2When 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.
3Morgan 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.
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
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
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.
2When 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.
3Morgan 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.
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
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
