Senior Vice President, Financial Advisor, Family Wealth Advisor, Certified Investment Management Analyst
Phone:
(415) 482-1515(415) 482-1515
Pacific Paragon Group at Morgan Stanley
Direct:
(415) 460-6207(415) 460-6207
Toll-Free:
(800) 505-1220(800) 505-1220
Our Mission Statement
Working with you to preserve and grow your family's wealth to meet your long-term goals
Pacific Paragon Group at Morgan Stanley
Pacific Paragon Group at Morgan Stanley, formerly The Terhune Group, has been helping individual investors make wise practical financial decisions since 1986. Pacific Paragon Group’s goal is to thoroughly understand our clients’ financial needs and to align resources to help clients meet or exceed those needs. For us, financial planning means not only providing clients with investment advice, but also assisting them maintain the financial independence they’ve worked their whole lives to achieve. Pacific Paragon Group is comprised of a unique team of financial advisors with diverse backgrounds and experience in order to offer you, our client, a well-rounded and holistic wealth management experience. We help clients evaluate and address near-term concerns and plan for long-term goals. Working with a wide variety of investment companies, our team aims to develop and execute financial and investment strategies that are individualized and comprehensive. We often consult with clients’ income tax professionals and estate planning attorneys. We have extensive experience working with private Fiduciaries and assisting their beneficiaries in identifying and reaching their financial goals. We understand the implications of the Uniform Prudent Investors Act (UPIA) and the standards, accounting needs, and tax requirements Fiduciaries must maintain.
Services Include
- Trust AccountsFootnote1
- Estate Planning StrategiesFootnote2
- Planning for Individuals with Special Needs and their Families
- Exchange Traded FundsFootnote3
- Financial PlanningFootnote4
- Lending Products
- Municipal BondsFootnote5
- Professional Portfolio ManagementFootnote6
- Retirement PlanningFootnote7
- Wealth Consulting
- Wealth ManagementFootnote8
- Wealth PlanningFootnote9
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Process
Our practice is built on a foundation of trust, integrity, and personalized service. We take the time to understand your unique circumstances and goals, then craft customized strategies that reflect your values and aspirations—supported by the full breadth of Morgan Stanley resources. As your Financial Advisors, we help you define and work toward your goals by delivering advice and capabilities in the way that best fits how you invest and what you want to achieve, so you can preserve and grow your wealth with confidence. You'll have access to seasoned investment professionals, a premier trading and execution platform, and a full spectrum of investment choices—guided by a clear, client-focused process.
Discovery
Our journey begins with understanding you. We take the time to gather comprehensive information about your financial situation, lifestyle, and aspirations. This step involves identifying your short-term and long-term goals, risk tolerance, and any specific needs you may have. By building a complete picture of your financial landscape, we lay the foundation for a tailored strategy.
Advisory
With a clear understanding of your financial profile, our team analyzes the data to develop a customized financial plan. We explore various strategies and solutions, ensuring that our advice aligns with your objectives. Our goal is to provide you with a roadmap that not only addresses your current needs but also anticipates future opportunities and challenges.
Implementation
Once the plan is finalized, we move to the implementation phase. This involves executing the strategies we've developed, coordinating with you to ensure every step is aligned with your expectations. We handle the details, from investment management to risk mitigation, ensuring a seamless transition from planning to action.
Tracking
Financial planning is an ongoing process. We continuously monitor your portfolio and financial plan, adapting to changes in the market and your personal circumstances. Regular reviews and updates ensure that your strategy remains relevant and effective. We are committed to keeping you informed and engaged, providing insights and adjustments as needed to keep you on track towards your goals.
Location
1101 5th Avenue
Ste 275
San Rafael, CA 94901
US
Direct:
(415) 460-6207(415) 460-6207
Toll-Free:
(800) 505-1220(800) 505-1220
Meet Pacific Paragon Group
David V Caprio
First Vice President, Financial Advisor, Family Wealth Advisor, Portfolio Manager, Insurance Planning Director
Phone:
(415) 482-1517(415) 482-1517
Chad Merschat
Vice President, Financial Advisor
Phone:
(415) 482-1506(415) 482-1506
Julie Streicher
Senior Client Service Associate
Phone:
(415) 482-1507(415) 482-1507
About Erik Sorensen
With more than 25 years of Financial Services Industry experience, Erik Sorensen, Senior Vice President, Portfolio Management Director, serves the sophisticated needs of Business Owners, Families and Foundations. He does this by providing a comprehensive, fee based planning and investment strategy that helps his clients build, manage, preserve and transition wealth.
Erik is an active member of IMCA, Investment Management Consultants Association, and has attained the CIMA®, Certified Investment Management Analyst ®SM certification after completing a graduate-level curriculum with the Wharton School of Business, University of Pennsylvania. As a capstone to his professional education, Erik attained the CPWA®, Certified Private Wealth Advisor® certification after completing a graduate-level curriculum at the Chicago Booth School of Business, Executive Education.
Prior to joining Morgan Stanley, Erik was Senior Financial Advisor, Senior Vice President - Investments, with Wells Fargo Advisors. Outside of work you will find Erik engaged in volunteer work for his favorite charitable causes or hiking, cycling or sailing with his wife and their two sons.
Erik is an active member of IMCA, Investment Management Consultants Association, and has attained the CIMA®, Certified Investment Management Analyst ®SM certification after completing a graduate-level curriculum with the Wharton School of Business, University of Pennsylvania. As a capstone to his professional education, Erik attained the CPWA®, Certified Private Wealth Advisor® certification after completing a graduate-level curriculum at the Chicago Booth School of Business, Executive Education.
Prior to joining Morgan Stanley, Erik was Senior Financial Advisor, Senior Vice President - Investments, with Wells Fargo Advisors. Outside of work you will find Erik engaged in volunteer work for his favorite charitable causes or hiking, cycling or sailing with his wife and their two sons.
Securities Agent: GA, FL, CA, RI, WA, MA, ID, AZ, SC, OR, NM, IN, UT, NY, MN, HI, DE, CO, OK, MI, IL, OH, NV, IA, PA, MT, MO, VA, TX, KY; General Securities Representative; Investment Advisor Representative
NMLS#: 1288231
NMLS#: 1288231
About David V Caprio
David has been with Morgan Stanley since 2004 and appointed a First Vice President. He started in the business with his father whose career at Morgan Stanley in Marin County spanned over 25 years. Growing up in Marin County, David currently resides in Castro Valley with his wife, two sons and daughter. David enjoys the discipline of martial arts and has a black belt in Gracie Brazilian jiu-jitsu.
David's experience as part of Pacific Paragon Group at Morgan Stanley is portfolio allocation as well as variable annuity strategies. David builds personalized investment portfolios utilizing the high end programs and vast investment solutions that Morgan Stanley provides. He inputs the information gathered by members of The Pacific Paragon Group to create the best strategy to assist in meeting the financial goals.
David's experience as part of Pacific Paragon Group at Morgan Stanley is portfolio allocation as well as variable annuity strategies. David builds personalized investment portfolios utilizing the high end programs and vast investment solutions that Morgan Stanley provides. He inputs the information gathered by members of The Pacific Paragon Group to create the best strategy to assist in meeting the financial goals.
Securities Agent: IN, AZ, CA, CO, FL, GA, HI, ID, IL, MA, MI, MN, MO, MT, NC, NM, NV, NY, OH, OR, PA, TX, UT, WA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1288066
NMLS#: 1288066
About Chad Merschat
Chad joined Morgan Stanley in 2004 and began working with Jerry Terhune in 2005. He provides tailored service and thoughtful, proactive assistance to clients. Chad has extensive experience handling the complex needs of financially successful families and works to create customized strategies helping clients live the lifestyle they choose and plan for a smooth transition from one generation to the next. Chad was appointed Assistant Vice President in 2016 and Vice President in 2020. Chad spent two years in Central Asia in the US Peace Corps. Chad holds a Bachelor’s Degree in History. He resides in Orinda and enjoys running, mountain biking and spending time with his wife and two boys.
Securities Agent: OH, HI, IN, IL, WY, WA, NM, MN, GA, NY, MT, CO, UT, TX, MO, CA, NV, ID, FL, AZ, AR, DE, OR, MA, RI, PA, MI; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 2161892
NMLS#: 2161892
About Julie Streicher
Julie has been assisting Financial Advisors and their clients at Morgan Stanley since 1997. She was promoted to Senior Service Assistant in 1998 and joined what was then The Terhune Group and is now Pacific Paragon Group as a Senior Client Service Associate in 2003. Julie has attained Morgan Stanley Branch recognition for excellent client Service.
Contact Erik Sorensen
Contact David V Caprio
Contact Chad Merschat
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Farbod Farman
Associate Private Banker
James Mcphee
Planning Associate
Isabella Bouvard
Client Relationship Associate
About Farbod Farman
Farbod Farman is an Associate Private Banker serving Morgan Stanley Wealth Management offices in California.
Associate Private Bankers partner with Private Bankers and 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.
Farbod began his career in financial services in 2015, and joined Morgan Stanley in 2022 as an Associate Private Banker. Prior to joining the firm, he was an Associate Banker at Citi Private Bank. He also served as a Brokerage Associate at Wells Fargo.
Farbod is a graduate of the Hawaii Pacific University, where he received a Bachelor of Science in Business Administration with a concentration in International Business, and Missouri State University – West Plains, where he received his Associate in Arts degree in General Studies. He lives in San Rafael, California with his spouse. Outside of the office, Farbod enjoys working out, playing video games, watching movies, spending time with his family, volunteering and traveling. Farbod played basketball in college in the US, and for the Iranian National Team and represented them in many international tournaments including Asian Championship Cup and the World Cup.
Associate Private Bankers partner with Private Bankers and 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.
Farbod began his career in financial services in 2015, and joined Morgan Stanley in 2022 as an Associate Private Banker. Prior to joining the firm, he was an Associate Banker at Citi Private Bank. He also served as a Brokerage Associate at Wells Fargo.
Farbod is a graduate of the Hawaii Pacific University, where he received a Bachelor of Science in Business Administration with a concentration in International Business, and Missouri State University – West Plains, where he received his Associate in Arts degree in General Studies. He lives in San Rafael, California with his spouse. Outside of the office, Farbod enjoys working out, playing video games, watching movies, spending time with his family, volunteering and traveling. Farbod played basketball in college in the US, and for the Iranian National Team and represented them in many international tournaments including Asian Championship Cup and the World Cup.
NMLS#: 1619986
About James Mcphee
James McPhee is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define the goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. James provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree in Finance from the University of Notre Dame and received the Financial Planning Specialist® designation from the College for Financial Planning. James is originally from West Hartford, CT and currently resides in New York City.
He earned his undergraduate degree in Finance from the University of Notre Dame and received the Financial Planning Specialist® designation from the College for Financial Planning. James is originally from West Hartford, CT and currently resides in New York City.
About Isabella Bouvard
Isabella Bouvard is a Client Relationship Associate at Morgan Stanley providing dedicated support to Financial Advisors and their teams. Operating as an extension of the FA/Team, Isabella collaborates with clients to discover how best to engage and enroll in the services available at Morgan Stanley during their onboarding journey, specifically cash management. Isabella provides expertise across a wide suite of cash management offerings and is able to help open cash management accounts, assist with credit cards and provide education on the breadth of what Morgan Stanley has to offer in the cash management space.
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
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan 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.
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.
When 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.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan 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.
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.
When 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.
Wealth Management
From Our Team
Sample LifeView Financial Plan
Wealth Management
Global Investment Office
Portfolio Insights
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
A Simple Six-Step Retirement Checkup
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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
Iran Conflict: Seven Takeaways for Investors
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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
529 Plans: A Powerful Tool to Save for Education
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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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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
Ready to start a conversation? Contact Pacific Paragon Group 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 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.
3An 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.
4Morgan 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.
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.
6Morgan 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.
7When 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.
8Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
9Morgan 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.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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 | Morgan Stanley
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3An 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.
4Morgan 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.
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.
6Morgan 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.
7When 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.
8Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
9Morgan 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.
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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 | Morgan Stanley
CRC 4665150 (8/2025), 4763067 (9/2025)
