Welcome

At The Liberty Group, we are a dedicated team of financial professionals who combine our talents to serve a select group of affluent families and individuals. We work to help our clients make informed decisions about any financial matter, particularly the growth and protection of their assets and the creation of multi generational wealth transfer strategies. We treat these families as we would our own, aspiring to build lasting, meaningful relationships based on trust, integrity and superior client service.

Our team understands how to help families like yours address the complex, multifaceted challenges of managing your wealth in accordance with your specific needs and aspirations. Drawing on over 125 years of collective experience and the vast resources of Morgan Stanley, we can help you evaluate near-term needs, plan for long-term objectives and act as a sounding board for investment ideas. With particularly deep experience in the fixedincome markets, we can help you protect your assets and generate the income you need to maintain your lifestyle. Most importantly, we can help you develop and implement a comprehensive wealth management plan based on your aspirations for yourself, your family and your community.

We look forward to learning more about you and your family, and discussing how we can help you pursue your most important goals.
Capabilities
  • Investment Management
  • Retirement & Pension Plans
  • Comprehensive Wealth Planning
  • Family Governance & Wealth Education
  • Philanthropy Management
  • Pre-Liquidity Planning
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

About PWM

Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
  • Manage investments with an unwavering focus on your financial strategy and personal goals
  • Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
  • Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
  • Approximately 250 teams1  specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $330 billion in AUM2
  • Comprising 26% of the Barron’s Top 100 Financial Advisors list for 20173
  • Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, December 31, 2017
2 Morgan Stanley Internal Compensable Revenue Report, December 31, 2017
3 Barron’s Top 100 Financial Advisors, April 2017

Approach

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

Global Franchise

Morgan Stanley serves a global clientele of individuals, families, corporations, endowments, foundations, governments and others through three core businesses:
  • Morgan Stanley Wealth Management
  • Institutional Securities Group
  • Investment Management
Our strength and synergies across each of these businesses not only contributes to the economic vitality and stability of the firm, but also expands the vast resources, expertise and global insight that we can offer you.
Morgan Stanley Franchise Power
  • $2.4tn in client assets under management1
  • Morgan Stanley reported revenues of $11.9Bn1
  • More than 55,000 global employees1
  • Global footprint includes 1,200 offices in 31 countries on six continents1
  • Tier 1 risk-based capital Ratio under U.S. Basel III was approximately 17.8%1
  • $206Bn in liquidity reserve1
  • Long-term credit rating A3, BBB+ and A, by Moody’s, S&P and Fitch, respectively2
1Unaudited. As of March 31, 2018, Morgan Stanley Quarterly Financial Supplement
2MorganStanley.com/InvestorRelations

Location

522 5th Avenue
11th Floor
New York, NY 10036
US
Direct:
(212) 603-6100(212) 603-6100

Meet Liberty Group

About Me

A 19-year Morgan Stanley veteran, Joe Reap and his partner, Bob Antler, lead a team that helps affluent families and individuals address the complex challenges of managing significant wealth. Drawing on extensive experience in the fixed income markets, Joe works with many of the team’s clients to create and implement investment strategies designed to help protect their assets and provide the income needed to sustain their lifestyles. Among the many designations he has acquired, Joe is a Chartered Retirement Plans SpecialistSM, Financial Planning Specialist, Senior Investment Management Consultant and Senior Portfolio Manager. He served on the Morgan Stanley President’s Council for 10 and spent three years on the management team. Prior to his financial services career, Joseph was founder of J.R. Industrial Catering serving as President for 15 years.

 

Joe is a graduate of Saint Joseph’s Regional High School and moved on to William Patterson University to study business and finance. Highly active in his community, he serves as a board member of the American Cancer Society, chairing their golf and gala committees. Joe has also been a Grand Knight of the Knights of Columbus and a board member of the Ramsey Education Foundation. He and his wife, Karen, are proud recipients of the Morgan Stanley Community Leadership Award.

 

Outside of work, Joe enjoys fishing, traveling and golf, and is a member of the Eagle Oaks Golf Club in New Jersey and the Classics Golf Club in Naples, Florida.
Securities Agent: WV, WI, VT, VA, TX, SC, RI, PA, OK, OH, NY, NJ, NH, NC, MT, MS, MO, MN, MI, MD, MA, KY, IN, IL, FL, DC, CT, CO, CA, AZ; Managed Futures; Transactional Futures/Commodities; General Securities Representative; BM/Supervisor
NMLS#: 1265306

About Me

Starting out at E.F. Hutton & Company in 1971, Robert Antler has spent 46 continuous years at Morgan Stanley and its predecessors helping scores of clients create highly customized investment strategies and wealth management plans. Robert and his partner, Joe Reap, now lead an experienced team of portfolio managers, financial planners and customer service professionals who combine their talents to help affluent families and individuals address the complex challenges of managing significant wealth. Robert’s primary focus is on portfolio management, fixed income portfolio construction and investment research. A designated Morgan Stanley Financial Planning Specialist, he also advises clients on a broad range of wealth planning issues, including wealth transfer, insurance, lending and liability management.

 

Robert earned a B.A. in chemistry from Queens College and went on to post-graduate studies at St. Johns University and Baruch College. He is highly active in the community, having served on the board of trustees for the College of New Rochelle and List College. Robert also served as the president of the Park Avenue Synagogue and is currently an honorary member of their board.

 

Robert and his wife, Carol, have two grown daughters and live in Manhattan. Outside of work, he enjoys gardening, kayaking, reading and stamp collecting.
Securities Agent: WV, WI, VT, VA, TX, SC, RI, PA, OK, OH, NY, NJ, NH, NC, MT, MS, MO, MN, MI, MD, MA, KY, IN, IL, FL, DC, CT, CO, CA, AZ; Managed Futures; Transactional Futures/Commodities; General Securities Representative; General Securities Principal
NMLS#: 1276742

About Me

Drawing on over 19 years of experience in the financial services industry, William Carnes helps affluent families and individuals develop and implement comprehensive wealth management plans based on their needs, goals and challenges. A partner in the Group, William has earned designations as a Portfolio Manager and Financial Planning Specialist.  Prior to joining Morgan Stanley, he spent five years working as a manager at Staples, Inc. William graduated from the University of Massachusetts Amherst with a bachelor’s degree in business administration in 1992. 

 

When not at the office, he enjoys skiing, golf and running. Over the past number of years he has run in Tough Mudders, marathons and half marathons. For the past three years he led the fundraising efforts that sent his daughters cheer team to the UCA National Cheerleading championship in Florida.
Securities Agent: TX, WV, WI, VT, VA, SC, RI, PA, OK, OH, NY, NJ, NH, NC, MT, MS, MO, MN, MI, MD, MA, KY, IN, IL, FL, DC, CT, CO, CA, AZ; Managed Futures; General Securities Representative; Investment Advisor Representative
NMLS#: 1265292

About Me

Drawing on 16 years of experience in financial services, James Valentino supports the team’s efforts to create customized investment strategies for affluent families and individuals. Employing Morgan Stanley's proprietary framework for risk-reward analysis, James works to identify investment opportunities for clients, analyze portfolios on a quarterly basis and prepare performance reports and presentation materials. He is also charged with keeping the team’s clients abreast of appropriate insight and analysis from the Morgan Stanley Global Investment Committee.

 

James began his financial services career in 2001, working as a specialist clerk at the New York Stock Exchange. He then spent a year at Merrill Lynch before joining Morgan Stanley in 2008. James earned an A.S. in business administration at LaGuardia Community College and went on to earn a B.B. in finance from Baruch College.

 

An avid outdoorsman, James enjoys fishing, diving and spearfishing.

About Me

Debra Jennings draws on over 18 years of experience in financial services to deliver an outstanding service experience to the Group’s clients. She serves as the administrator and team coordinator, contributing to the smooth functioning of the office and making sure that the client requests are handled promptly and accurately.

 

Debra began her career in financial services with Deutsche Asset Management in 1999 as a data management associate. She worked through various operations roles there including Investment Support and Client Support.

 

Outside of work, Debra is an active committee member and team captain for the Autism Speaks Staten Island Walk. Through her committee involvement, Debra has helped plan walk logistics, volunteered her time at the walk and volunteered her time at third party fundraising events that benefitted the walk.

About Me

Denice Layne has spent seven years working in client-facing positions in the financial services industry. Supporting the team’s advisors, Denice assists clients with financial transactions, helps to establish new accounts and supports clients with special service requests. She was recently elected to participate in the Morgan Stanley Leadership Readiness Program, which prepares employees for leadership roles within the firm.

 

Prior to joining The Liberty Group team in 2014, Denice worked as a senior vault teller at JP Morgan Chase Bank, and as a financial representative at the Mutual of Omaha Insurance Company. After receiving an A.A.S. in business management from the Borough of Manhattan Community College, she went on to earn a B.S. in business management and finance from Brooklyn College.

 

Away from work, Denice is active in community development efforts in her native Brooklyn. She also has over 25 years of experience as a professional dancer across a broad range of styles.
Economic and Market Perspectives

On the Markets

Managing Significant Wealth

  • Investment Management
  • Wealth Transfer & Philanthropy
  • Cash Management & Lending
  • Family Governance & Wealth Education
  • Lifestyle Advisory
  • Business Services
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Market Information Delayed 20 Minutes
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.

Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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

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