Joseph Maiullo
First Vice President, Financial Advisor, Portfolio Manager, Equity Sales
Phone:
(212) 903-7709(212) 903-7709
MD Group at Morgan Stanley
Direct:
(212) 903-7709(212) 903-7709
Our Mission Statement
Understanding the unique needs of high net worth clients like you
Welcome
As your Financial Advisors, we can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve. Working together we can help you to preserve and grow your wealth. You’ll have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices.
Services Include
- Wealth ManagementFootnote1
- Professional Portfolio ManagementFootnote2
- Endowments and FoundationsFootnote3
- Philanthropic Services
- Estate Planning StrategiesFootnote4
- Trust AccountsFootnote5
- 401(k) Rollovers
- Retirement PlanningFootnote6
- Business Succession PlanningFootnote7
- Exchange Traded FundsFootnote8
- Fixed IncomeFootnote9
- Municipal BondsFootnote10
- Lending Products
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Equity Sales
Our group manages private client relationships and continues to provide equity coverage to middle market institutional clients who value the relationship with an equity salesperson and the services provided. When necessary, we provide access to analysts, equity models, sector notes, conferences, 1-on-1 meetings with management/IR, conference call invites, and selective use of a sales trader. Our clients understand the value of these services and also understand our segmentation model.
Asher Kennedy
Asher is a CERTIFIED FINANCIAL PLANNER™ with a background in multi-generational financial planning. As a Financial Advisor at Morgan Stanley, Asher provides clients with advice and solutions to preserve and grow their wealth. He helps clients define their most valued goals and aspirations, then tailors and implements wealth strategies designed to ensure an impactful and lasting legacy.
Born and raised in Brooklyn, New York, Asher received a Bachelor’s of Science degree in Finance and Economics from the State University of New York in Plattsburgh, and began his career in Private Wealth Management at Ayco, a Goldman Sachs Company. Prior to joining Morgan Stanley, Asher also spent time with MUFG, Bank of Tokyo, as a Senior Specialist in the Data Assurance Department
Born and raised in Brooklyn, New York, Asher received a Bachelor’s of Science degree in Finance and Economics from the State University of New York in Plattsburgh, and began his career in Private Wealth Management at Ayco, a Goldman Sachs Company. Prior to joining Morgan Stanley, Asher also spent time with MUFG, Bank of Tokyo, as a Senior Specialist in the Data Assurance Department
Mary Beth Powers
Mary Beth Powers is a Vice President and Trust Specialist with Morgan Stanley. She has worked in the trust and estate services industry for 25 years, primarily as a trust new business officer. As a Trust Specialist, Mary Beth is responsible for presenting Morgan Stanley’s trust services platform to individual and institutional clients and prospects and assisting them with their trust planning needs. For individual clients, wealth accumulation, management and preservation are paramount, as is the efficient transfer of that wealth. Institutional clients require fiduciary solutions to help meet business needs.
Mary Beth’s role is to illustrate how employing the services of a corporate fiduciary, which provides fiduciary administrative and reporting continuity, can be coupled with the investment experience of Morgan Stanley. Mary Beth joined Smith Barney Private Trust Company in 1998, which merged with Citi Trust. Through the 2009 Smith Barney-Morgan Stanley merger, she transitioned to Morgan Stanley. Mary Beth received a B.S. from Seton Hall University.
Mary Beth’s role is to illustrate how employing the services of a corporate fiduciary, which provides fiduciary administrative and reporting continuity, can be coupled with the investment experience of Morgan Stanley. Mary Beth joined Smith Barney Private Trust Company in 1998, which merged with Citi Trust. Through the 2009 Smith Barney-Morgan Stanley merger, she transitioned to Morgan Stanley. Mary Beth received a B.S. from Seton Hall University.
Angelo Loumbas
Angelo J Loumbas is the Ultra-High Net Worth (“UHNW”) Planning Specialist for Family Office Resources. Angelo provides specialized expertise to UHNW clients and advisors across a broad range of family wealth management issues, including customized asset allocation and portfolio construction, strategic estate and financial planning, philanthropy management, family governance, wealth education, and lifestyle advisory. Angelo has over twenty years of experience advising wealthy families, business owners, and philanthropic organizations.
Originally from Chicago, Angelo practiced law for 15 years and represented UHNW clients, closely held businesses, and major philanthropic organizations. Angelo is admitted to the Society of Trust and Estate Practitioners and the Chicago Estate Planning Council. He has spoken on topics such as “Conditions Suggesting a Management Buyout” before the Chicago Bar Association Corporation and Business Law Committee, “Tax Consequences of Intra-Family Loans,” before the Chicago Bar Association Trust Law Committee, and “Conversations about Wealth and Philanthropy with Prospective Donors” before the Chicago Council on Planned Giving.
Prior to rejoining Morgan Stanley in his current position in 2018, Angelo advised UHNW clients in the financial services industry for 10 years, first as a Wealth Strategist with US Trust in Chicago, then a Wealth and Estate Planning Specialist in Morgan Stanley’s Chicago Wealth Planning Center, and finally as the Senior Wealth Planning Strategist for the Wells Fargo Private Bank in Greenwich, Connecticut. Angelo earned his B.A. from DePauw University, his M.B.A. from the University of Notre Dame, and his law degree from Indiana University at Bloomington. He is Series 7, 66 and 24 licensed.
Lifestyle Advisory Group - High Net Worth
Planning for the future is important. So is living for today. So we make it easier to enjoy your achievements through our Lifestyle Advisory Group. Our High-Net-Worth clients get to experience a range of concierge services reserved for a select few.
• Buying, leasing or sharing a jet
• College and admissions counseling
• Eldercare services
• Experiences, Travel and Luxury Vacations
• Tickets to Theater, Concerts and Sporting Events
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.
Family Office Resources - Ultra High Net Worth
Significant wealth raises a whole new level of complex challenges and multigenerational issues. That’s why we’re able to provide our Ultra-High-Net Worth clients access to Morgan Stanley’s Family Office Resources. This team includes:
• Experts in Generational Wealth Transfer
• Strategists that help minimize tax obligations
• Experts in philanthropic giving
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. Although they may be admitted attorneys, planning directors and other wealth planning center personnel holding legal degrees are acting purely
Originally from Chicago, Angelo practiced law for 15 years and represented UHNW clients, closely held businesses, and major philanthropic organizations. Angelo is admitted to the Society of Trust and Estate Practitioners and the Chicago Estate Planning Council. He has spoken on topics such as “Conditions Suggesting a Management Buyout” before the Chicago Bar Association Corporation and Business Law Committee, “Tax Consequences of Intra-Family Loans,” before the Chicago Bar Association Trust Law Committee, and “Conversations about Wealth and Philanthropy with Prospective Donors” before the Chicago Council on Planned Giving.
Prior to rejoining Morgan Stanley in his current position in 2018, Angelo advised UHNW clients in the financial services industry for 10 years, first as a Wealth Strategist with US Trust in Chicago, then a Wealth and Estate Planning Specialist in Morgan Stanley’s Chicago Wealth Planning Center, and finally as the Senior Wealth Planning Strategist for the Wells Fargo Private Bank in Greenwich, Connecticut. Angelo earned his B.A. from DePauw University, his M.B.A. from the University of Notre Dame, and his law degree from Indiana University at Bloomington. He is Series 7, 66 and 24 licensed.
Lifestyle Advisory Group - High Net Worth
Planning for the future is important. So is living for today. So we make it easier to enjoy your achievements through our Lifestyle Advisory Group. Our High-Net-Worth clients get to experience a range of concierge services reserved for a select few.
• Buying, leasing or sharing a jet
• College and admissions counseling
• Eldercare services
• Experiences, Travel and Luxury Vacations
• Tickets to Theater, Concerts and Sporting Events
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.
Family Office Resources - Ultra High Net Worth
Significant wealth raises a whole new level of complex challenges and multigenerational issues. That’s why we’re able to provide our Ultra-High-Net Worth clients access to Morgan Stanley’s Family Office Resources. This team includes:
• Experts in Generational Wealth Transfer
• Strategists that help minimize tax obligations
• Experts in philanthropic giving
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. Although they may be admitted attorneys, planning directors and other wealth planning center personnel holding legal degrees are acting purely
Charlotte Spatz
Charlotte Spatz is a Private Banker serving Morgan Stanley Wealth Management offices in New York.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Charlotte began her career in financial services in 2015, and joined Morgan Stanley in 2016 as a Complex Administrator. Prior to being promoted to her current position, Charlotte served as an Associate Private Banker supporting Wealth Management offices in New York City and was a Regional Administrator before that. Before joining the firm, she was an Operations Associate at the Lebenthal & Co.
Charlotte is a graduate of the Marist College, where she received a Bachelor of Arts in Communication. She currently lives in Greenwich, Connecticut.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Charlotte began her career in financial services in 2015, and joined Morgan Stanley in 2016 as a Complex Administrator. Prior to being promoted to her current position, Charlotte served as an Associate Private Banker supporting Wealth Management offices in New York City and was a Regional Administrator before that. Before joining the firm, she was an Operations Associate at the Lebenthal & Co.
Charlotte is a graduate of the Marist College, where she received a Bachelor of Arts in Communication. She currently lives in Greenwich, Connecticut.
Location
55 East 52nd Street 10th
Floor 30
New York, NY 10055
US
Direct:
(212) 903-7709(212) 903-7709
Meet MD Group
Marshall Davidson
Vice President, Wealth Management, Financial Advisor, Equity Sales
Phone:
(212) 903-7621(212) 903-7621
Nancilyn Stafutti
Registered Client Service Associate
Phone:
(212) 649-8609(212) 649-8609
About Joseph Maiullo
Joe Maiullo is a First Vice President and Financial Advisor at Morgan Stanley. Joe started his career with American Express in 2004 then joined UBS in 2006 and covered Tier 1 and middle-market institutional accounts as an equity salesperson and worked with ultra-high net worth families and individuals. Joe's experience has resulted in a fluent understanding of financial markets, financial products, and exceptional business acumen.
Since joining Morgan Stanley in March, 2011, Joe's focus has been working closely with high net worth clients and families in coordinating investments across all asset classes, including alternative investments. Together with his team, they provide custom tailored approaches to portfolio management based on client driven goals. He also works with middle market institutional clients providing equity sales coverage.
Joe received a Bachelor of Arts degree from Michigan State University. He lives in Manhattan with his wife and daughter, and enjoys playing golf, travelling, and spending time with friends and family. Joe also volunteers and is a member of the board of directors of Taste of the Seaport, a non-profit food festival in Lower Manhattan; all proceeds from Taste of the Seaport benefit two public schools in the community where Joe lives.
Since joining Morgan Stanley in March, 2011, Joe's focus has been working closely with high net worth clients and families in coordinating investments across all asset classes, including alternative investments. Together with his team, they provide custom tailored approaches to portfolio management based on client driven goals. He also works with middle market institutional clients providing equity sales coverage.
Joe received a Bachelor of Arts degree from Michigan State University. He lives in Manhattan with his wife and daughter, and enjoys playing golf, travelling, and spending time with friends and family. Joe also volunteers and is a member of the board of directors of Taste of the Seaport, a non-profit food festival in Lower Manhattan; all proceeds from Taste of the Seaport benefit two public schools in the community where Joe lives.
Securities Agent: MT, NY, HI, DC, WV, VI, NC, AZ, WA, PA, NV, CO, AK, IL, DE, VA, NH, MI, KY, VT, TN, GA, WY, TX, SC, MD, CT, NJ, MO, IN, FL, CA, MN, MA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1278623
NMLS#: 1278623
About Marshall Davidson
Marshall is a Vice President and Financial Advisor in the Middle Markets Group at Morgan Stanley. He started his career with Dean Witter in 1991 then joined Kidder Peabody & Co covering Tier 1 institutional accounts in March, 1994. Marshall and Joe have been partners since 2007 and have followed the same path together. Since joining Morgan Stanley Smith Barney in March, 2011, Marshall has focused on equity sales and execution, working with institutional clients. He also helps with portfolio construction working closely with high net worth private clients and families. Marshall is on the Board of Directors of New York Squash Association. He enjoys all racquet sports and plays squash, platform tennis and tennis regularly. Marshall also runs triathlons and participates in bike rides raising funds for various charities, particularly the Escape from Alcatraz event.
Securities Agent: CT, GA, MA, MD, MN, NC, NH, NJ, NY, PA, RI, TX, UT, VA, VT, WA, FL, AL, AR, AZ, CA, CO; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1285118
NMLS#: 1285118
About Nancilyn Stafutti
Nancilyn Stafutti supports the team in delivering a first-class service experience. Nancilyn interacts regularly with the team’s clients, addressing inquires, providing updates on account activity and assisting with the modern, digital experience through Morgan Stanley Online and the Mobile App. She supports the execution of strategic business plans and assists the team in the portfolio construction process and implementation of investment strategies.
Prior to her start in the financial industry, Nancilyn served as a Marketing Coordinator at Phillip Jeffries. She graduated cum laude from Marist College with a B.S. in business administration, concentrating in marketing with a minor in psychology. Nancilyn maintains her Series 7, 63 and 66. She lives in Hoboken and enjoys traveling, tennis and martial arts.
Prior to her start in the financial industry, Nancilyn served as a Marketing Coordinator at Phillip Jeffries. She graduated cum laude from Marist College with a B.S. in business administration, concentrating in marketing with a minor in psychology. Nancilyn maintains her Series 7, 63 and 66. She lives in Hoboken and enjoys traveling, tennis and martial arts.
Contact Joseph Maiullo
Contact Marshall Davidson
Wealth Management
Global Investment Office
Portfolio Insights
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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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
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
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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
Ready to start a conversation? Contact MD Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
5Morgan 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.
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 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.
8An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
5Morgan 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.
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 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.
8An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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
CRC 6491812 (04/2024)
