Phone:
(301) 657-6341(301) 657-6341
Monarch McNulty Group at Morgan Stanley
Direct:
(301) 657-6300(301) 657-6300
Toll-Free:
(800) 455-6622(800) 455-6622
Our Mission Statement
Experience, intellectual capital and dedicated personal service to help you meet your life goals
Our Story and Services
For us, retirement planning means more than providing our clients with investment advice. It means helping them maintain the financial independence they've worked their whole lives to achieve. It means striving to help ensure they have the means to pursue what's most important to them. And it means understanding them as people with unique goals, values and circumstances that determine the strategies we develop on their behalf.
Our consultative process begins with an in-depth discussion of your current finances and future objectives. We'll address issues you might have overlooked that can have a significant impact on your ability to retire as planned. Finally, we'll determine how we can help you adjust your investment strategy as necessary to accommodate changing conditions and meet unforeseen expenses and income demands that may arise during retirement.
Our consultative process begins with an in-depth discussion of your current finances and future objectives. We'll address issues you might have overlooked that can have a significant impact on your ability to retire as planned. Finally, we'll determine how we can help you adjust your investment strategy as necessary to accommodate changing conditions and meet unforeseen expenses and income demands that may arise during retirement.
Services Include
- AnnuitiesFootnote1
- Cash Management and Lending ProductsFootnote2
- Alternative InvestmentsFootnote3
- 529 PlansFootnote4
- Asset Management
- Municipal BondsFootnote5
- Planning for Education FundingFootnote6
- Professional Portfolio ManagementFootnote7
- Corporate Retirement PlansFootnote8
- Defined Contribution PlansFootnote9
- Retirement PlanningFootnote10
- Sustainable InvestingFootnote11
- Estate Planning StrategiesFootnote12
- Exchange Traded FundsFootnote13
- Trust AccountsFootnote14
- Financial PlanningFootnote15
- Wealth PlanningFootnote16
- Wealth ManagementFootnote17
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Morgan Stanley Online (MSO) has a variety of features beyond viewing your account balance and activity that you should take advantage of. They include:
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Morgan Stanley Online• Asset Aggregation – Access streamlined views of your assets and liabilities, including mortgage information, aggregated from all of your financial institutions
• Current Financial News – access up-to-date news, current market data, research, company profiles, and quotes
• Access Import Documents – sign up for digital access to all of your financial documents
• Manage Everyday Finances – mobile check deposit, online bill pay, send money with Zelle, and e-authorizations
Asset Aggregation
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The ability to view all of your assets and liabilities together enables Morgan Stanley to advise with your entire financial picture in mind.
Asset Aggregation VideoThe ability to view all of your assets and liabilities together enables Morgan Stanley to advise with your entire financial picture in mind.
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Keeping important documents and financial records organized and readily available is one of the best gifts you can give those you love. In the event of catastrophe or serious illness, disability or death, your Family Records Organizer can immediately provide vital, timely information to both your family and professional advisors. The Digital Vault on Morgan Stanley Online and the Mobile App allows you and your clients to build a central, shared document library where all documents are stored using encryption.
Morgan Stanley OnlineUpcoming Firm Events
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U.S. Policy Pulse: Trump 2.0 and the Markets
DATE: February 25, 2025 at 4:15 p.m. ETJoin Morgan Stanley Wealth Management Chief Investment Officer, Lisa Shalett, on Tuesday, February 25, for a conversation with Chief Economic Strategist and Global Head of Thematic and Macro Investing, Ellen Zentner, and Head of U.S. Public Policy, Monica Guerra, on the top policy and regulatory actions that could impact investors in the months ahead.
CRC4192005 02/2025
Online
Location
7500 Old Georgetown Rd
10th Fl
Bethesda, MD 20814
US
Direct:
(301) 657-6300(301) 657-6300
Toll-Free:
(800) 455-6622(800) 455-6622
Meet Monarch McNulty Group
Phone:
(301) 664-6861(301) 664-6861
Phone:
(301) 657-6382(301) 657-6382
Sylvia Habib
Portfolio Associate
Phone:
(301) 657-6393(301) 657-6393
Rebecca Goldsmith
Client Service Associate
Phone:
(301) 657-6387(301) 657-6387
About Kress Monarch
For each of the past 30 years (1994-2023), Financial Advisor Kress Monarch has earned the distinction of being a member of Morgan Stanley’s Chairman’s Club. The Chairman’s Club represents the top 2% of Morgan Stanley’s Financial Advisors, and has priority access to senior management and all of the resources of the firm.
Kress began his investment career in 1984, and has been with Morgan Stanley (and its predecessor companies) since then. After graduating from Georgetown University with a Bachelor of Science in Business Administration, he worked in accounting for one year and then technical sales for five years.
Kress is a Managing Director of Morgan Stanley Wealth Management. He provides a wide range of services to his clients, including financial planning, implementing and managing investment strategies, liability management and estate planning. He frequently invites accountants, estate attorneys and other professionals to assist in the financial planning process.
Kress is originally from Hollidaysburg, Pennsylvania. He enjoys many sports, especially watching football and playing golf. He collects California Cabernets, travels extensively and likes to attend live music events. He lives with his wife, Nancy, in Bethesda and they have two sons.
Kress began his investment career in 1984, and has been with Morgan Stanley (and its predecessor companies) since then. After graduating from Georgetown University with a Bachelor of Science in Business Administration, he worked in accounting for one year and then technical sales for five years.
Kress is a Managing Director of Morgan Stanley Wealth Management. He provides a wide range of services to his clients, including financial planning, implementing and managing investment strategies, liability management and estate planning. He frequently invites accountants, estate attorneys and other professionals to assist in the financial planning process.
Kress is originally from Hollidaysburg, Pennsylvania. He enjoys many sports, especially watching football and playing golf. He collects California Cabernets, travels extensively and likes to attend live music events. He lives with his wife, Nancy, in Bethesda and they have two sons.
Securities Agent: NJ, FL, TN, NY, ME, WY, SC, MD, DE, PA, NC, KY, ID, HI, OR, NM, DC, AL, WA, KS, WV, MO, CT, NV, MS, IL, CO, MN, ND, VT, VA, TX, MT, CA, AZ, WI, OH, MA, LA, GA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1272837
NMLS#: 1272837
About Bill McNulty
William (Bill) McNulty is a Senior Vice President, Financial Advisor, and a member of The Monarch- McNulty Group at Morgan Stanley. Bill has been a Financial Advisor since 1993. Bill and his partner, Kress Monarch, focus in financial planning, wealth and estate strategies, portfolio management and asset allocation, working primarily with high net worth individuals. Lending and liability management are two other areas in which Bill finds pride working with his clients.
Bill began his career in the financial services industry as a trainee at Merrill Lynch in 1992, and obtained the certification of Financial Advisor the following year. Bill joined Morgan Stanley in 2000, and was a Financial Advisor until 2002. From 2003-2014, Bill held multiple titles at Morgan Stanley, including Sales Manager, Branch Manager, Assistant Complex Manager, and Complex Manager. In 2014, Bill returned to his role as a Financial Advisor with Morgan Stanley, a position he continues to enjoy today.
Bill graduated from Radford University in 1991, and has served on the Board of The Radford University Foundation since 2019. In his free time, Bill enjoys spending time with his family and friends, exercising, reading and dining out. Bill also has been a soccer and lacrosse coach in Vienna for the last 18 years and is currently coaching soccer. Bill and his wife are high school sweethearts, and have been married for 29 years. Together, they have twin boys who recently graduated from James Madison University, and a daughter who is attending VCU in Richmond.
Bill began his career in the financial services industry as a trainee at Merrill Lynch in 1992, and obtained the certification of Financial Advisor the following year. Bill joined Morgan Stanley in 2000, and was a Financial Advisor until 2002. From 2003-2014, Bill held multiple titles at Morgan Stanley, including Sales Manager, Branch Manager, Assistant Complex Manager, and Complex Manager. In 2014, Bill returned to his role as a Financial Advisor with Morgan Stanley, a position he continues to enjoy today.
Bill graduated from Radford University in 1991, and has served on the Board of The Radford University Foundation since 2019. In his free time, Bill enjoys spending time with his family and friends, exercising, reading and dining out. Bill also has been a soccer and lacrosse coach in Vienna for the last 18 years and is currently coaching soccer. Bill and his wife are high school sweethearts, and have been married for 29 years. Together, they have twin boys who recently graduated from James Madison University, and a daughter who is attending VCU in Richmond.
Securities Agent: PA, CT, NC, MO, ME, DE, DC, CA, WV, WI, VA, OR, NY, NV, NJ, LA, KS, IN, AZ, WY, TX, OH, MT, CO, HI, KY, MS, MD, MA, IL, FL, TN, NM, GA, VT, ID, WA, AL, ND, MN, MI, SC; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1290469
NMLS#: 1290469
About Cody Monarch
Cody has been with the Monarch/McNulty Group since early 2022, eager to work with and learn from Kress and Bill. Specializing in Financial Planning, Cody leverages the firm’s various planning tools to provide tailored, comprehensive financial plans. Cody works to develop specific, tax-efficient strategies to help him clients both identify and meet their short-term and long-term goals. He strongly believes in providing continuous education to his clients while also utilizing a wholistic approach to provide personalized investment management services. Cody also specializes in Executive Compensation Planning and is well versed in various benefits such as Deferred Compensation Plans, Incentive Stock Options, Nonqualified Stock Options, Restricted Stock Units, and Performance Stock Units. Cody meets with his clients throughout the year to help ensure their Financial Plan is in line with their goals, and adjust investments as needed to support their plans in current market conditions.
Cody graduated Penn State University and bleeds Blue and White to this day. Outside of the office, he enjoys spending time with his wife Sami as well as friends. Cody also enjoys being a resource in his community, speaking to parent teacher associations and groups of high school students about the importance of setting goals, saving, investing, and being consistent.
Cody graduated Penn State University and bleeds Blue and White to this day. Outside of the office, he enjoys spending time with his wife Sami as well as friends. Cody also enjoys being a resource in his community, speaking to parent teacher associations and groups of high school students about the importance of setting goals, saving, investing, and being consistent.
Securities Agent: MI, CO, TX, ID, DE, AZ, WV, VT, SC, OH, NC, MO, MD, DC, CA, AR, TN, LA, KY, IN, WA, NV, NM, MS, MA, IL, GA, AL, MT, WY, NY, NJ, ME, OR, HI, FL, CT, ND, MN, WI, PA, KS, VA; General Securities Representative; Investment Advisor Representative
NMLS#: 2430722
NMLS#: 2430722
About Sylvia Habib
Sylvia Habib, Portfolio Associate, has been with Morgan Stanley for over 9 years. She utilizes her extensive financial and investment skills acquired through her financial career to support the Financial Advisors with client Portfolio requests and working with clients directly to address their investment and banking needs.
She began her financial career in 1977 upon arriving to the Washington DC Metropolitan area. She has worked in several Financial Institutions in the area including Citibank with a 20 year career there, where she became a Registered Representative. Her last position, for 11 years, was working with the Citi Private Bank, High Net Worth group where she was a Vice President. Her responsibilities included supporting the Private Banker, onboarding clients, responding to any client inquiries, calling and meeting clients solely or with the Private Banker.
Sylvia holds a BS Degree in Elementary Education from Old Dominion University, Norfolk, VA. Sylvia enjoys traveling abroad and spending time with friends and family.
She began her financial career in 1977 upon arriving to the Washington DC Metropolitan area. She has worked in several Financial Institutions in the area including Citibank with a 20 year career there, where she became a Registered Representative. Her last position, for 11 years, was working with the Citi Private Bank, High Net Worth group where she was a Vice President. Her responsibilities included supporting the Private Banker, onboarding clients, responding to any client inquiries, calling and meeting clients solely or with the Private Banker.
Sylvia holds a BS Degree in Elementary Education from Old Dominion University, Norfolk, VA. Sylvia enjoys traveling abroad and spending time with friends and family.
About Rebecca Goldsmith
Rebecca Goldsmith is a Client Service Associate (CSA) for the Monarch Mcnulty Group, here at Morgan Stanley. Rebecca's main responsibilities and duties on the team are enhancing the client experience, by providing exceptional client service, supporting Branch functions as needed, assisting in safeguarding client assets, and serving as administrative and operational support to Financial Advisors. She also conducts outreach to maintain strong relationships with client base and identify Firm services and solutions, such as digital, online access and cash management offerings, that support clients’ needs.
Rebecca has been at Morgan Stanley since 2016 and began working for the Monarch - Mcnulty Group in 2018. Before starting out at Morgan Stanley, Rebecca worked at the SEC as a government contractor in the Enforcement Division. Rebecca graduated from High Point University in 2013 with a BA in Electronic Media – Communications. Rebecca has taken and passed the SIE Exam and is currently studying for the Series 7 and Series 66 exams.
Outside of work, Rebecca loves to travel, and spend time with her family in Bethesda, Maryland, where she grew up. Rebecca is very much into fitness, enjoys to bike and to spend time with friends. Rebecca is a very proud foodie, you can find her at any local brunch spot, and an avid fiction book reader.
Rebecca has been at Morgan Stanley since 2016 and began working for the Monarch - Mcnulty Group in 2018. Before starting out at Morgan Stanley, Rebecca worked at the SEC as a government contractor in the Enforcement Division. Rebecca graduated from High Point University in 2013 with a BA in Electronic Media – Communications. Rebecca has taken and passed the SIE Exam and is currently studying for the Series 7 and Series 66 exams.
Outside of work, Rebecca loves to travel, and spend time with her family in Bethesda, Maryland, where she grew up. Rebecca is very much into fitness, enjoys to bike and to spend time with friends. Rebecca is a very proud foodie, you can find her at any local brunch spot, and an avid fiction book reader.
Contact Kress Monarch
Contact Bill McNulty
Contact Cody Monarch
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1Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
2Morgan 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
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
4Investors 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.
5Municipal 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.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
7Morgan 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.
8When 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.
9When 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.
10When 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.
11The 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.
12Morgan 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.
13An 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.
14Morgan 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.
15Morgan 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.
16Morgan 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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
17Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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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.
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
2Morgan 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
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
4Investors 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.
5Municipal 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.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
7Morgan 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.
8When 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.
9When 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.
10When 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.
11The 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.
12Morgan 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.
13An 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.
14Morgan 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.
15Morgan 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.
16Morgan 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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
17Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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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.
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Awards Disclosures
CRC 6491812 (04/2024)
