Laura X. Chen, CFP®

One of the key questions we often hear from retirees with substantial assets is:
How do I find the right balance for retirement income and growth in my portfolio?

We understand the unique challenges faced by retirees who are navigating the complexities of managing sizable Individual Retirement Accounts (IRAs) and other significant wealth.

We manage over 50 retirement accounts as of April 2024, for our client's retirement money including traditional IRAs, Rollover IRAs, inherited IRAs, Roth IRAs, SEP IRAs, Defined Benefit Plans, and 401(k) Plans.

We serve clients who decide to retire because they have accumulated substantial financial and tangible assets and they have new pursuits in life. You may have a bucket list of important things to do and people to spend time with during retirement. Retirement is not an end but the beginning of the next exciting chapter of your life. Your important goals may be taking on a new hobby such as painting, improving your golf skills, or taking your grandchildren on a private family cruise in the Galapagos. We are here to help you manage your wealth in a tax-efficient manner, seeking to generate the necessary income while also striving to preserve your assets for the future.

We can help you find the right balance between retirement income and portfolio growth in an effort to empower you to confidently embrace the new chapter of your life.

One of the key questions we often address is:
What are the best ways to reduce transfer taxes while benefiting family and charity at the same time?

As a successful business owner, you've just completed a major step that can lead to a liquidity event, transforming your financial landscape. However, this transition can leave you feeling uncertain about the next chapter.

We serve clients from multiple industries, including tech entrepreneurs and owners of medical practices, art businesses, manufacturing companies, and restaurants. Focusing on the factors that make a difference in your business, from your perspective on ownership, liquidity, key risks, and opportunities, we work closely with you to develop a tailored business plan that addresses succession planning, exit strategies, and employee benefits, helping guide you through this pivotal moment. You may need to be proactive in preparing for the sale, reviewing your estate plan, minimizing your tax liabilities, and strategically diversifying your holdings. But most importantly, you need to ensure this wealth aligns with your long-term goals and values.

Whether you are looking to sell your business, pass it on to the next generation, ensure a smooth transition for your team, explore new entrepreneurial ventures, or simply enjoy your hard-earned retirement, we are there to help ensure a smooth transition for the next chapter of your company's history.

One of the key questions many families grapple with is:
How much of my wealth do I want my heirs to inherit, and are they prepared, intellectually and emotionally, to manage it?

We manage over $100M investments for Corporate Executives with concentrated stocks.

We take the time to deeply understand your family's specific circumstances, priorities, and concerns, from the patriarch or matriarch to the rising Gen Z leaders. This allows us to help streamline your family office entity structure, operations, and decision-making, develop effective communications amongst family members, and optimize taxes through entity structure design. Whether you wish to pass on most of your assets to your heirs or allocate a significant portion to philanthropic endeavors, we have a dedicated Family Office Resources group to guide you.

We understand that the next generation of your family, including your Gen Z members, may have unique needs and aspirations. That's why we offer access to market and industry insights and curated networking events that bring together entrepreneurs and innovators from a variety of industries. This allows your rising leaders to connect with like-minded individuals, explore new ideas, and prepare for their role in shaping the family's legacy.

Disclaimer: The term "Family Office Resources" is being used as a term of art and not to imply that Morgan Stanley and/or its employees are acting as a family office pursuant to Investment Advisers Act of 1940.

One of the key questions our female clients often ask is:
Does my financial advisor deeply understand my unique challenges and goals as a woman, and how do I effectively communicate these with them?

This is a critical concern as studies show that only 15% to 20% of financial advisors are women, and an even smaller fraction hold senior-level positions in the industry. This gender imbalance can make it difficult for women to find advisors who truly empathize with their perspectives and priorities. In fact, according to a New York Life study, almost 40% of women say that financial advisors often patronize them.

We believe that financial advisors need to evolve to truly listen to women's goals and concerns. The landscape of household income is shifting as more women are making more income. The share of women who earn as much as or significantly more than their husband has roughly tripled over the past 50 years. According to Pew Research, 45% of all married women now earn the same as or more than their spouse compared to 11% in 1972. As women's financial contributions increase, the share of marriages in which the husband is the main breadwinner will continue to decline. Women are looking for a financial advisor who listens and understands their financial goals.

As a female-led team with more than 50% of our clients is women, we have a deep understanding of the unique financial challenges that women face, from the gender pay gap to planning for maternity leave. We take the time to truly listen to our client's goals and concerns, crafting tailored strategies that address their specific needs. We are proud to serve a growing number of female clients who are trailblazers in their respective fields. By empowering women to take an active role in their financial planning, we are not only helping them achieve their personal and professional goals but also positioning them to become responsible stewards of the great wealth transfer that is underway.

Together, we can create a plan that aligns with your values, empowers you to make informed decisions, and helps you realize the future you envision.

Source: https://www.pewresearch.org/social-trends/2023/04/13/in-a-growing-share-of-u-s-marriages-husbands-and-wives-earn-about-the-same/

One of the key questions HR and Business decision-makers ask is:
How can our employees effectively manage their paper wealth to achieve their financial goals, thereby helping us retain top talent?

We serve companies that need help optimizing their cash flow and transform the workforce through financial well-being.

Whether accessing capital or managing receivables and payables, we can help review the strategies you have in place and, if appropriate, provide alternatives. We can help guide you in optimizing your cash flow, securing financing, and ensuring the financial health of your operations.

One of the most effective ways to empower your executives and key employees is through equity-based compensation. This can take the form of stock options, restricted stock units (RSUs), or other innovative structures that provide a direct ownership stake in your organization. Beyond offering equity, we work closely with you to help ensure your compensation plans are structured in a way that can potentially deliver maximum value for both your organization and your employees. This may involve considerations around vesting schedules, tax implications, and the integration of equity awards with other benefits.

We take a holistic approach to employee benefits, empowering your team with education, digital tools, and guidance so that you can attract and retain top talent and support your employees' financial goals. From equity to retirement to college savings, our team guides you as you grow your business and helps your employees build financial wellness, so they can take your company to new heights.

https://www.morganstanley.com/atwork

One of the key questions the next generation of our clients often asks is:
How can we effectively enhance our financial literacy to secure a prosperous future?

We serve individuals and families who are eager to embark on a journey of financial education and transform their understanding of wealth management.

Join us as we continue the journey into the world of finance and wealth education. At Morgan Stanley, we believe that knowledge is the key to unlocking future success, and we're excited to share our thought leadership and experience with you. Whether you're learning about financial concepts, exploring investment opportunities, or mastering money management, we can help guide you through this journey in a fun and interactive way.

One of the most effective ways to empower yourself and your family is through informed financial decision-making. This can involve understanding investment vehicles, budgeting techniques, or other innovative financial strategies that provide a pathway to financial independence. Beyond offering education, we work closely with you to help ensure your financial plans are structured in a way that can potentially deliver maximum value for your future.

Hosted by Caroline Gundeck, Head of UHNW Client and Field Engagement, and Charline Burgess, Senior Wealth Education Specialist, our sessions are designed to provide you with the tools and knowledge needed to achieve your financial goals. We take a holistic approach to wealth education, empowering you with insights, interactive experiences, and expert guidance.

From investing to retirement planning to estate management, our team guides you as you build financial wellness, so you can take your financial journey to new heights.

One of the key questions we often hear from our clients in the entertainment community is: How can I align my wealth with my values and make a positive impact?

We serve clients in the arts, entertainment industry, and e-sports, who are passionate about using their resources to drive positive change. We are experts in socially responsible investing (SRI) and environmental, social, and governance (ESG) strategies, helping our clients align their wealth with their values and philanthropic goals. By helping our clients navigate these specific investment approaches, we potentially enable them to put their wealth to work supporting causes and initiatives they care about deeply.

As your career takes off, you may seek advice on how to maintain relationships with the people close to you before acquiring fame. Equally important is the confidence that your new advisors are acting in your best interests. Education and empowerment around money management are crucial. We provide comprehensive guidance to help you maintain sustainable income streams as your career evolves, but our support extends far beyond just the numbers.

We take the time to form strong relationships with the important people in your life, ensuring a collaborative approach to wealth management. This can allow you to confidently plan for a fulfilling life beyond your active career, whether that means pursuing new creative ventures, philanthropic endeavors, or simply enjoying the fruits of your hard work.

Disclaimers:
Environmental, Social and Governance ("ESG") investments in a portfolio may experience performance that is lower or higher than a portfolio not employing such practices. Portfolios with ESG restrictions and strategies as well as ESG investments may not be able to take advantage of the same opportunities or market trends as portfolios where ESG criteria is not applied. There are inconsistent ESG definitions and criteria within the industry, as well as multiple ESG ratings providers that provide ESG ratings of the same subject companies and/or securities that vary among the providers. Certain issuers of investments may have differing and inconsistent views concerning ESG criteria where the ESG claims made in offering documents or other literature may overstate ESG impact.

ESG designations are as of the date of this material, and no assurance is provided that the underlying assets have maintained or will maintain and such designation or any stated ESG compliance. As a result, it is difficult to compare ESG investment products or to evaluate an ESG investment product in comparison to one that does not focus on ESG. Investors should also independently consider whether the ESG investment product meets their own ESG objectives or criteria.

There is no assurance that an ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or a dependable measure of future results.

You may ask the question:
How can I use our wealth to empower our children, rather than watch it inhibit their ability to achieve on their own?

Establishing robust governance structures and documents is crucial for maintaining harmony and facilitating effective decision-making. Our team will assist you in creating a family constitution, review investment policy statements, and other essential frameworks tailored to your family's unique needs.

Open communication and regular family gatherings are equally important. We'll help you design and facilitate these meaningful meetings, fostering open dialogue, collaborative problem-solving, and the seamless integration of your shared values into your wealth management strategies. Educating the next generation is a critical component of our services. We'll work closely with you to create customized wealth education plans, empowering your loved ones with the knowledge and skills necessary to help them become effective guardians of your family's legacy.

You may ask the question:
What is the appropriate asset allocation that balances risk and reward and will best help me achieve my goals?

We take a collaborative approach to integrating your investment strategy with your comprehensive trust, tax, and estate planning strategies. By working closely with you and your team of advisors, we leverage the Morgan Stanley Wealth Management Global Investment Committee's forecasted capital market assumptions to simulate the potential outcomes of your investment portfolios. This simulation process incorporates your unique circumstances, such as taxes and anticipated cash flows, to evaluate more "real-life" potential outcomes. This allows us to determine if the risk profiles of your investment portfolios are appropriate for you and your family, ensuring your wealth is positioned to be transferred according to your wishes. By understanding the intention behind the legal structures in your estate plan and the risk profiles of your respective beneficiaries, we can strategically "locate" investments within these entities to ensure your asset allocation aligns seamlessly with your wealth transfer objectives.

You may ask this question:
What's the most efficient way to manage my daily operating cash?

At Morgan Stanley, we recognize that clients and their families have unique needs that require dedicated expertise and capabilities. Our cash management and lending solutions are designed to meet these unique needs. Your Morgan Stanley Financial Advisor will work with a team of professionals including dedicated Private Bankers, to develop a specialized approach for managing cash flow, liquidity and financing needs.

Disclaimers:
Private Bankers are employees of Morgan Stanley Private Bank, National Association, Member FDIC.

Morgan Stanley Private Bank, National Association, and Morgan Stanley Bank, N.A. are affiliates of Morgan Stanley Smith Barney LLC, and are each a Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency.

You may ask the question:
How can I make connections with other ultra-high net-worth clients?

We believe true wealth extends far beyond just the financial realm. That's why we offer our clients a diverse array of exclusive educational, cultural, and social experiences designed to foster meaningful connections, empower the next generation, and provide valuable insights into the complex challenges of managing significant wealth.

From hosting thought-leadership summits featuring renowned experts to organizing family legacy events that facilitate multigenerational conversations, we create opportunities for you to come together, learn from one another, and explore their wide-ranging interests.
Whether it's a Next Gen conference focused on empowering the younger members of our client families, a Women's Summit offering a distinctive perspective on wealth management, or exclusive experiences at events like the US Open, Morgan Stanley Family Office Resources Group curates a dynamic calendar of activities to enrich the lives of our clients.

You may ask the question:
How do we reduce the risk of data breaches and identity theft?

We understand that in today's digital landscape, safeguarding your personal and professional assets from cyber threats is of paramount importance. That's why we offer a comprehensive suite of cybersecurity services tailored to the unique needs of our ultra-high-net-worth clients and their families. Morgan Stanley Family Office Resources' seasoned cybersecurity professionals are available to conduct thorough assessments of your home and office networks, identify vulnerabilities, and implement robust protective measures to mitigate the risk of cyber-attacks.

From penetration testing and incident response planning to secure communications, virtual private networks, and customized training on best practices, we provide the expertise and tools you need to become more resilient against ever-evolving digital threats.

By proactively addressing cybersecurity concerns, we can help you, your loved ones, and your business maintain the integrity of your sensitive information and intellectual property, giving you the peace of mind to focus on the priorities that matter most.

You may ask the question:
How do I know if the money I donate is being used effectively?

We believe giving back to the community is about more than just donating money – it's about creating a positive and long-lasting impact that can change lives. Your desire to help others can leave a meaningful legacy, and we're here to help you turn your charitable dreams into a plan that really makes a difference. Whether you want to support causes you care about or start your own foundation, we'll work closely with you to figure out what matters most to you and help make sure your giving reflects your family's values.

We can help you form groups with other givers to increase the impact of your donations, guide you through the process of joining boards of nonprofit organizations to share your expertise, and work with you and your advisors to set up agreements for your donations and make sure they're used effectively. We can also connect you with other experts to help you make the most of your giving.

By connecting your financial plans with your charitable goals, we can find opportunities for you to work with other organizations and make an even bigger difference. We believe that, with the right advice, your wealth can be a meaningful legacy.

You may ask the question:
Does the timing of my trust, tax & estate planning implementation happen intentionally or arbitrarily and are my actions more reactive and rushed rather than prescribed?

We know it's important to plan your trust, tax, and estate (TTE) effectively to safeguard your legacy and ensure that your wealth is passed on according to your wishes. Our experienced team is committed to working closely with you and your external advisors to create and execute a personalized TTE plan that aligns with your specific goals and priorities.

We thoroughly examining your current financial situation, trust setups, and estate plan. Through this collaborative process, we'll assess the strengths and weaknesses of your existing arrangements, identify areas that may need attention, and explore different income tax and estate planning strategies that could be beneficial for your circumstances. By providing you with clear information about the available options, we can help you make well-informed decisions about the future of your estate plans and strategies.

Once we have a clear understanding of your needs, we'll collaborate with your tax and legal advisors to smoothly put the best possible TTE plan into action. This involves integrating tax and estate structures in a way that accurately reflects the nature of taxation and ensuring that your investment and estate planning choices are perfectly coordinated.

You may ask the question:
Who can assist me when I need to hire a personal assistant or a property manager?

Our Signature Access progress provides clients who have $10M or more assets or liabilities at Morgan Stanley with bespoke concierge support. Eligible clients have access to a team of knowledgeable, highly personalized specialists who can assist with a wide range of exceptional needs – from arranging luxury travel experiences and securing tickets to premier events to coordinating personal security, eldercare services, and even customized executive coaching.

Signature Access clients also receive exclusive privileges through our Reserved Living & Giving (RLG) digital loyalty program. RLG partners with over 60 premium brands to offer our clients access to unique offers, insights, and inspiring philanthropic ideas.

By integrating these lifestyle management services with your comprehensive wealth plan, we can help you unlock new avenues for personal enrichment, security, and the pursuit of your passions. Our goal is to empower you to fully enjoy the benefits of your wealth, and provide you with personalized guidance and elevated experiences that you deserve to elevate your lifestyle and create lasting memories.

Disclaimers:
Signature Access, the highest tier of the Reserved Living & Giving program, is part of Morgan Stanley Lifestyle Advisory. This tier features products and services that are provided by third-party service providers, not Morgan Stanley Smith Barney LLC ("Morgan Stanley"). Morgan Stanley may not receive a referral fee or have any control concerning the delivery of such products or services. Please perform a thorough due diligence and make your own independent decision.

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

Morgan Stanley Reserved Living & Giving is a complimentary program that rewards eligible clients of Morgan Stanley. Morgan Stanley Smith Barney LLC ("Morgan Stanley") reserves the right in its discretion to change the terms and conditions of, or terminate, the Reserved Living & Giving ("Reserved") program and the Signature Access program at any time and without notice. Morgan Stanley periodically reviews Reserved and Signature Access program participants' accounts and activity and may in its discretion remove program participants from either program at any time and without notice.