Sean V. Carolan
Portfolio Associate
Phone:
(612) 349-4819(612) 349-4819
Marcus Waterbury, CPWA®, CIMA®, RMA®
Senior Vice President,
Wealth Advisor
Direct:
(612) 340-6755(612) 340-6755
Toll-Free:
(866) 845-5227(866) 845-5227
My Mission Statement
Serving clients' on their financial journeys, offering experienced guidance and support.
About Us
Marcus Waterbury is a seasoned Financial Advisor, with 30 years of experience in the financial services industry. He started his career as a computer consultant and then joined his father as a stock broker in 1994. He is currently with Morgan Stanley as part of a dedicated team that provides investment management, insurance planning, estate planning, tax planning, and financial education to clients and their families.
Marcus differentiates himself by providing a comprehensive financial plan tailored to each client's unique situation and goals. He is deeply committed to giving back to the community and involved in several philanthropic initiatives, including serving on the board of RECLAIM, a nonprofit that serves LGBTQ+ youth.
In his personal life, Marcus is a proud member of a blended family and enjoys spending time at home, playing games, reading, hiking, and traveling. He holds a Bachelor of Arts in Physics from Mount Holyoke College and has several professional certifications and designations, including CIMA®, CPWA®, RMA, PM, PMD, SIMC, and SPM.
Diversity and inclusiveness are important to Marcus, as he is committed to creating opportunities for all. He transitioned from Margery to Marcus while working at Morgan Stanley in 2004 and is passionate about helping his clients make a positive impact through their own philanthropic efforts as part of their overall financial goals.
HONORS & AWARDS
-
Marcus Waterbury Named Five Star Wealth Manager for 2012, 2014-2025
Source: fivestarprofessional.com (Awarded 2012, 2014-2025) These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2012 Award – 4/17/11 – 10/14/11
2014 Award – 4/14/13 – 10/14/13
2015 Award – 4/17/14 – 10/14/14
2016 Award – 4/17/15 – 10/14/15
2017 Award – 2/25/16 – 10/14/16
2018 Award – 2/23/17 – 10/13/17
2019 Award - 3/23/18 – 10/23/18
2020 Award - 3/1/19 – 10/25/19
2021 Award - 3/30/20 – 10/23/20
2022 Award - 3/29/21 – 10/8/21
2023 Award - 03/14/22 – 10/18/22
2024 Award - 3/13/23 – 09/29/23
2025 Award - 3/13/24 – 10/29/24Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure.html
Services Include
- LGBT+ Planning ServicesFootnote1
- Financial PlanningFootnote2
- Estate Planning StrategiesFootnote3
- 401(k) Rollovers
- Business Succession PlanningFootnote4
- Cash ManagementFootnote5
- Lending Products
- Corporate Retirement PlansFootnote6
- Endowments and FoundationsFootnote7
- 529 PlansFootnote8
- Sustainable InvestingFootnote9
- Long Term Care InsuranceFootnote10
- Qualified Retirement PlansFootnote11
- Retirement PlanningFootnote12
Securities Agent: TN, FL, PA, NY, CT, WI, NM, MO, MA, KS, DC, AZ, NV, MI, AK, WA, SD, OR, MD, NC, ME, IL, HI, AL, UT, TX, IA, CA, NE, MN, GA, CO, WY, VA, ND, SC, IN, NJ; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1270070
NMLS#: 1270070
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Working With You
At the heart of our practice is values-based financial planning—aligning your financial goals with what matters most to you. With Morgan Stanley’s insights, we go beyond simple asset allocation by crafting a comprehensive financial plan that includes savings strategies, insurance, estate planning, tax considerations, and more. No matter the economic climate, we ensure you stay on track.
Our team is structured to provide an exceptional level of service, supported by Morgan Stanley's latest tools and resources. We continuously refine our approach, working with industry professionals to help optimize our team’s structure and processes, ensuring we can help meet your evolving needs with efficiency and care. Our disciplined process begins with understanding your financial situation, goals, and risk tolerance, creating a personalized strategy tailored to help meet your needs.
Our team is structured to provide an exceptional level of service, supported by Morgan Stanley's latest tools and resources. We continuously refine our approach, working with industry professionals to help optimize our team’s structure and processes, ensuring we can help meet your evolving needs with efficiency and care. Our disciplined process begins with understanding your financial situation, goals, and risk tolerance, creating a personalized strategy tailored to help meet your needs.
Step 1: Introductory Meeting
We begin our relationship with an initial discussion to get to know you, your lifestyle, and your future goals.
Step 2: Discovery Meeting
During the discovery meeting, we work together to establish your financial goals by reviewing your current financial situation and developing an appropriate risk tolerance that can help you achieve the financial outcome you envision for yourself.
Step 3: Financial Plan Presentation
In the financial plan presentation, we map out essential factors that contribute to your financial success, such as your employee and employer contributions, liquidity events, and insurance coverage. Examining relevant financial information provides a holistic asset allocation analysis for your accounts, helping establish a comprehensive financial plan.
Step 4: Action Items
After the financial plan presentation, we follow up with you regarding our analysis and recommendations, which may include adjustments to your financial plan, investment allocation, company benefits, and insurance coverage.
Step 5: Implementation Meeting
The implementation meeting focuses on creating prospective strategies custom designed for your specific needs. Recommended changes could include logistics, tax impact, asset allocation adjustments, and saving/benefit modifications.
Step 6: Monitoring Performance Tracking
Our team constantly monitors your assets and analyzes your performance tracking data to ensure your financial expectations are being met and adjusted accordingly. We communicate with you regularly so that we can always respond to your concerns and requests.
COMPREHENSIVE FINANCIAL PLANNING
Our team is committed to providing comprehensive financial planning services to assist you in achieving your financial goals at every stage of life. Whether you are in the early stages of your career, approaching or entering retirement, or somewhere in between, we are here to help.
Retirement Planning
As you approach and enter retirement, we will work closely with you to determine the most appropriate strategies for generating the income you need to help meet your financial objectives.
Estate Planning Strategies
Effective estate planning is essential to help ensure that your financial objectives are carried out in an efficient and cost-effective manner. We will review your finances with you and coordinate with your estate planning attorney to develop a plan that can meet your needs.
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. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
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. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Investment Management
We will manage your retirement accounts and other investments based on your risk tolerance and current tax situation, tailoring your financial strategy to your unique needs and goals.
Cash Management and Capital
Maintaining strong cash flow is vital to the success of any business. We can help you review your current strategies and, where appropriate, provide you with alternative options to consider.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Business Planning
We will focus on the key factors that impact your business, including ownership, control, liquidity, and the major challenges and opportunities you may face.
Succession and Exit Planning
As you plan for the next phase of your company's journey, whether it involves selling your business or passing it on to the next generation, we can assist you in developing a range of exit strategies that are designed to align with your goals.
Securing Your Child's Educational Future
Our team of experienced Financial Advisors can provide advice and guidance on saving for college, selecting the right education savings plan, and managing education expenses. Let us help you ensure that your children have the resources they need to succeed in their academic pursuits.
TOOLS BUILT FOR YOU
Our team is committed to providing a range of digital tools and technologies to help enhance various aspects of your financial life. Here are some of the resources we have to offer.
LifeView Financial Plan
No matter what stage of life you are in, our team can help you achieve your financial goals. Using a suite of tools, including goal-specific analysis, we can work with you to create a realistic, holistic strategy that integrates the various aspects of your financial life, including your investments and cash management needs.
Contact us today to learn more about planning your financial future.
Total Wealth View
When life gets hectic, managing finances can be a low priority. Total Wealth View simplifies this by providing a single platform to track investments, cash flow, assets, and net worth. This seamless integration with your Morgan Stanley Online account and LifeView or GPS gives your Advisor a comprehensive view of your entire financial profile, making it easier than ever to keep track of your finances.
Explore this page with videos and more information
E*TRADE
E*TRADE is the perfect platform for taking control of your financial future. Our easy-to-use online platform and mobile app make it easy to trade and invest in stocks, bonds, and other securities that align with your values and goals. Plus, our team of experienced financial advisors is here to provide personalized advice and guidance to help you make the most of your money.
Click here to sign up for E*TRADE today
Morgan Stanley Online
Morgan Stanley Online allows you to seamlessly and securely manage your investments and everyday finances in one place.
Register for Morgan Stanley Online Today
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
eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App. It's quick, convenient & secure.
Enroll Today
Security Center
Learn about our latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
Visit our Security Center
eAuthorizations
With eAuthorizations, you can electronically authorize domestic and international, one-time/recurring transactions through Morgan Stanley Online and the Morgan Stanley Mobile App within minutes. eAuthorizations leverages multiple strong factors of authentication to confirm your identity, which significantly mitigates security risks.
Click here to learn more
eSign
eSign is the easy way to electronically sign documents. Once you receive an email from "Morgan Stanley via DocuSign," you simply follow the instructions and sign your documents. When you use eSign, you must verify your identity before you sign the document and then, once signed, the document is sealed against tampering and cannot be edited.
Click here to learn more
Financial Management Tools
Managing multiple financial accounts across different firms can be complex. With Morgan Stanley Online, you can link your non-Morgan Stanley accounts and analyze your cash flow in one place.
Click here to learn moreTOP-TIER RESEARCH
Morgan Stanley is a leading provider of financial and economic research, and I believe that access to this knowledge is a powerful asset. However, it can be difficult to find concise and easy-to-understand information about global markets. To help you out, I've compiled a list of some of my favorite publications and resources from Morgan Stanley.
On the Markets
In this monthly report, Morgan Stanley's Chief Investment Officer and his colleagues delve into the latest market trends and provide insights on recent opportunities. They cover a wide range of topics, including the global economy, equities, fixed income, and target asset allocations.
Read the latest report
Thoughts on the Market Podcast
In this podcast, experts from various teams at Morgan Stanley share their timely insights and highlight global investment opportunities. A new episode is released every weekday, making it a convenient option for listening during your commute or at the gym.
Click here to subscribe to the podcast or find the latest episode
GIC Weekly
For a more in-depth weekly analysis, check out the GIC Weekly report from Lisa Shalett and the Global Investment Committee. This report focuses on market-moving news and research from across Morgan Stanley.
Access the GIC Weekly here
Morgan Stanley Ideas Podcast
The Morgan Stanley Ideas Podcast brings you compelling stories from the world of business, finance, technology, and more. Through the use of satellite data technology and insights on how to make independent decisions, this podcast offers valuable information on tackling some of the world's most pressing issues. Follow the link below to learn more and access a wealth of engaging content.
Click here to subscribe to the podcast or find the latest episode
Inclusive Ventures Lab
Our in-house startup accelerator, formerly known as the Multicultural Innovation Lab, promotes financial inclusion and provides access to capital and connections for early-stage technology and technology-enabled companies led by underrepresented founders.
Learn moreLocation
225 South 6th St
Ste 5300
Minneapolis, MN 55402
US
Direct:
(612) 340-6755(612) 340-6755
Toll-Free:
(866) 845-5227(866) 845-5227
Fax:
(612) 339-4611(612) 339-4611
Meet My Team
About Sean V. Carolan
Drawing on more than 23 years of industry experience, Sean V. Carolan is responsible for the coordination of client service activities and overlooks the team's operational issues. His strength lies in his attention to detail, yet he is equally adept at handling client concerns with both empathy and efficiency. Working with Morgan Stanley clients since 1997, Sean not only knows how to meet their specific needs, he strives to anticipate them as well. A San Francisco native, Sean lives with his partner Dennis in the North Loop, Minneapolis along with their mini-Schnauzer Rosie. He enjoys the vast arts and culture community of The Twin Cities, traveling and spending time with family and friends.
Wealth Management
Global Investment Office
Portfolio Insights
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
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
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
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
Donor Advised Funds: A Smart Way to Manage Your Giving
Article Image
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
Article Image
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 Marcus Waterbury today.
1Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
6When 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.
7Morgan 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.
8Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
9The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11When 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.
12When 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
6When 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.
7Morgan 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.
8Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
9The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11When 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.
12When 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.
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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.
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Awards Disclosures
CRC 6491812 (04/2024)
