Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Pancoe Nakovich Vishnubhakat Group at Morgan Stanley
Our Mission Statement
Taking the financial burden off of our clients to help them live easier and retire better.
Our Story and Services
We believe success in achieving important financial goals starts with a comprehensive wealth strategy. We will help you define what is most important to you and then formulate the strategies that are appropriate for your needs. Whether you are accumulating wealth or investing for income, solidifying your retirement plan, or devising a distribution approach that helps meet your lifestyle and legacy goals, we have a suite of knowledge, experience, and resources to cater to your needs.
Our team is comprised of Jaideep Vishnubhakat (Financial Advisor & Senior Portfolio Manager), Steven Nakovich (Financial Advisor & Senior Portfolio Manager), Christina Aquino (Financial Advisor & Portfolio Management Associate), and Taso Nikols (Alternative Investments Director, and Financial Advisor). Arthur Pancoe began his investment career in 1973 and worked with our team for 50 years, founding what has evolved into our full-service investment practice today. In addition, we have two Registered Associates, Carol Meyer, and Laura McLaughlan to help support our clients' needs. Together, we manage over $800MM in assets as of November 2023 and pride ourselves on our in-house analytics and research in developing a tailored strategy to meet your goals. We are proud to share that our team was recognized by Forbes as one of the 2024 Best-In-State Wealth Management Teams in IL.
[Source: Best-In-State Wealth Management Teams 2024 (forbes.com) (Awarded January 2024) Data provided by SHOOK ® Research, LLC – Data as of 3/31/23.]
Our team is comprised of Jaideep Vishnubhakat (Financial Advisor & Senior Portfolio Manager), Steven Nakovich (Financial Advisor & Senior Portfolio Manager), Christina Aquino (Financial Advisor & Portfolio Management Associate), and Taso Nikols (Alternative Investments Director, and Financial Advisor). Arthur Pancoe began his investment career in 1973 and worked with our team for 50 years, founding what has evolved into our full-service investment practice today. In addition, we have two Registered Associates, Carol Meyer, and Laura McLaughlan to help support our clients' needs. Together, we manage over $800MM in assets as of November 2023 and pride ourselves on our in-house analytics and research in developing a tailored strategy to meet your goals. We are proud to share that our team was recognized by Forbes as one of the 2024 Best-In-State Wealth Management Teams in IL.
[Source: Best-In-State Wealth Management Teams 2024 (forbes.com) (Awarded January 2024) Data provided by SHOOK ® Research, LLC – Data as of 3/31/23.]
Services Include
- Professional Portfolio ManagementFootnote1
- Wealth PlanningFootnote2
- Trust AccountsFootnote3
- 401(k) Rollovers
- Retirement PlanningFootnote4
- Qualified Retirement PlansFootnote5
- Cash Management and Lending ProductsFootnote6
- Financial PlanningFootnote7
- Business PlanningFootnote8
- Business Succession PlanningFootnote9
- Sustainable InvestingFootnote10
- 529 PlansFootnote11
- AnnuitiesFootnote12
- Life InsuranceFootnote13
- Long Term Care InsuranceFootnote14
- Estate Planning StrategiesFootnote15
- Trust ServicesFootnote16
- Structured ProductsFootnote17
- Asset Management
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
The PNV Group Advantage
Generations of Success
The four senior partners of Pancoe-Nakovich Wealth Management at Morgan Stanley have worked together since 1999. Our two founding partners, Arthur Pancoe and Steven Nakovich, have been together for more than two decades. With roots dating to 1973, we have helped hundreds of clients build and maintain wealth over time and our proud to have earned their confidence.
Team Access
To supplement our knowledge and help assess investment options for clients, we are fortunate to work with some of the best minds in their respective fields, including a past recipient of the Nobel Prize in medicine. Our personal contacts are especially strong in the health care industry where we first built our reputation.
Industry Specialties
Our business began with an emphasis on energy, pharmaceutical, and biotechnology stocks—it's how we earned our reputation. While our capabilities have expanded along with our business, we still look to this industry as a key source of added performance potential.
Continued Trust
We never lose sight of the fact that it's a privilege—and an
enormous responsibility—to manage our clients' wealth. We have earned their confidence, and we hope to earn yours too. Whatever your needs and financial goals, we look forward to helping you pursue them. When we moved our practice to Morgan Stanley in 2008, our client retention numbers were exceedingly high, and our clients made the move with us in record time. We're proud of this loyalty—it's a testament to the close relationships we form with our clients and the confidence they have in us.
enormous responsibility—to manage our clients' wealth. We have earned their confidence, and we hope to earn yours too. Whatever your needs and financial goals, we look forward to helping you pursue them. When we moved our practice to Morgan Stanley in 2008, our client retention numbers were exceedingly high, and our clients made the move with us in record time. We're proud of this loyalty—it's a testament to the close relationships we form with our clients and the confidence they have in us.
2025 Forbes Best-In-State Wealth Management Teams
The third annual Forbes | SHOOK Best-In-State Wealth Management Teams list features more than 5,300 teams with cumulative assets of $7 trillion. Forbes’ rankings were compiled by SHOOK Research, which uses financial data and interviews candidates nominated by their firms.
Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period 3/31/23–3/31/24.
Visit Our Forbes PageSource: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period 3/31/23–3/31/24.
A Disciplined Approach to Portfolio Management
Our success has been the result of the thoughtful investment process we have used for decades—for our clients and for our own portfolios. Our investment philosophy focuses on maintaining optimal asset allocation and reducing investment correlation through diversification.
Extensive Research and Knowledge:
With decades of experience choosing stocks and fixed-income securities we conduct our own exhaustive research to reduce risk, we seek to learn everything about the companies and industries we invest in, and to get to know
their business. The senior partners and portfolio managers of Pancoe-Nakovich-Vishnubhakat Wealth Management at Morgan Stanley are each responsible for analyzing companies within certain sectors of the S&P 500 Index, and we discuss investment ideas and share insights daily. Together, we evaluate prospective investments and reexamine existing ones, ultimately determining the stocks that may be placed or maintained in client portfolios.
their business. The senior partners and portfolio managers of Pancoe-Nakovich-Vishnubhakat Wealth Management at Morgan Stanley are each responsible for analyzing companies within certain sectors of the S&P 500 Index, and we discuss investment ideas and share insights daily. Together, we evaluate prospective investments and reexamine existing ones, ultimately determining the stocks that may be placed or maintained in client portfolios.
Long-Term Results:
We focus on generating solid long-term results, not on beating the market on a short-term basis. Some years we may outperform by a wide margin, while other years may test our patience. Our goal is to generate favorable performance over time without subjecting our clients to excess risk. We have historically been able to achieve this objective.*Past performance is no guarantee of future results*
Equity Management:
Our stock portfolio management philosophy is to find stocks we believe offer growth at a reasonable price. We invest in domestic and international companies and are market-cap neutral—meaning we own small-, mid- and large-cap stocks that we believe offer good risk-adjusted performance potential. We diversify our clients' portfolios across multiple asset classes, in addition to managing portfolios
of individual stocks. We also look to
exchange-traded funds (ETFs) to achieve specific
portfolio management objectives.
of individual stocks. We also look to
exchange-traded funds (ETFs) to achieve specific
portfolio management objectives.
Fixed Income Securities:
Fixed-income securities are a critical component of our clients' portfolios, providing valuable diversification benefits and income to achieve clients' financial goals. We are not bond traders—our fixed-income philosophy is to buy and hold.
However, we understand the need to analyze and adjust our clients' portfolios as credit and market fundamentals change. We believe bonds serve a specific purpose—to preserve your wealth and generate income.
However, we understand the need to analyze and adjust our clients' portfolios as credit and market fundamentals change. We believe bonds serve a specific purpose—to preserve your wealth and generate income.
Personal Responsibility:
We are fully accountable to our clients for all of our decisions, and we believe wholeheartedly in every investment recommendation we make. In fact, the partners of Pancoe-Nakovich-Vishnubhakat Wealth Management at Morgan Stanley own many of the same securities our clients do. We believe that if they're good enough for your family, they're good enough for ours.
Who We Serve
The Pancoe Nakovich Vishnubhakat Wealth Management team at Morgan Stanley provides a complete range of wealth management services to affluent individuals and their families. Our clients, who span coast to coast across a wide breadth of industries, and stages of life. No matter what the size of your portfolio, we'll customize a strategy that precisely reflects your individual goals.
Our Clients Include:
Families spanning multiple generations
Individuals and retirees focused on leaving a legacy to their loved ones and favorite charities
Mid- and late-career professionals planning the next
chapter of their lives
Young families accumulating sizable
wealth for the first time
Business Owners
Entrepreneurs
Retirement Plans
Individuals and retirees focused on leaving a legacy to their loved ones and favorite charities
Mid- and late-career professionals planning the next
chapter of their lives
Young families accumulating sizable
wealth for the first time
Business Owners
Entrepreneurs
Retirement Plans
Online Tools
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Location
233 S Wacker Dr
Ste 8600
Chicago, IL 60606
US
Direct:
(312) 443-6218(312) 443-6218
Toll-Free:
(866) 614-7696(866) 614-7696
Meet Pancoe Nakovich Vishnubhakat Group
Carol Meyer
Wealth Management Associate
Laura McLaughlan
Client Service Associate
Dylan Sandhu
Registered Client Service Associate
About Jaideep Vishnubhakat
Jai is a Senior Portfolio Management Director, Financial Advisor at Morgan Stanley, with a focus in equity portfolio construction, research and analysis of equity holdings in the biotechnology and pharmaceutical sectors, and overall investment strategy. Jai joined Morgan Stanley in 2008, after originally starting his career at Bear, Stearns & Co., serving as a portfolio manager and analyst with a focus on clinical trial data and emerging technologies.
Prior to becoming a Financial Advisor, Jai worked as a medical researcher at Northwestern University, the Picower Institute for Biomedical Research and North Shore University Hospital. Jai’s work at the Picower Institute ultimately led to the founding of a now publicly traded biotechnology company.
Jai has published numerous articles in leading scientific journals regarding his medical research, including Science, Shock and Surgery, among others.
Jai received his B.A. in neurobiology and psychology from Cornell University and his M.S. in biotechnology and business from Northwestern University.
Jai resides in Lake Forest, IL with his wife and two children. He is an avid tennis player, hiking aficionado, dog lover, and amateur race driver.
Prior to becoming a Financial Advisor, Jai worked as a medical researcher at Northwestern University, the Picower Institute for Biomedical Research and North Shore University Hospital. Jai’s work at the Picower Institute ultimately led to the founding of a now publicly traded biotechnology company.
Jai has published numerous articles in leading scientific journals regarding his medical research, including Science, Shock and Surgery, among others.
Jai received his B.A. in neurobiology and psychology from Cornell University and his M.S. in biotechnology and business from Northwestern University.
Jai resides in Lake Forest, IL with his wife and two children. He is an avid tennis player, hiking aficionado, dog lover, and amateur race driver.
Securities Agent: CA, AK, AL, AR, AZ, CO, CT, DC, FL, GA, HI, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MT, NC, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WY, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 1285196
NMLS#: 1285196
About Christina Aquino
Christina became a Financial Advisor after joining Morgan Stanley in 2017. As a Financial Planning Specialist, she employs a strategy customized around the client’s specific financial goals and objectives. She utilizes Morgan Stanley’s suite of resources to ensure her strategy addresses all aspects of a client’s financial health in the most convenient and efficient way.
She holds a Bachelor of Arts (B.A.) from Knox College and a Juris Doctor (J.D.) from DePaul University College of Law. Before joining Morgan Stanley, she was a solo-practicing attorney, specializing in real estate tax appeal. Christina has been named to Morgan Stanley's prestigious Pacesetter's Club from 2023-2024.
Originally from Chicago, Christina maintains a strong sense of community with the city. She sits on the council of the Children’s Literacy Initiative and regularly takes advantage of the many volunteer opportunities the city offers, with a specific passion for Multiple Sclerosis cure efforts.
https://www.morganstanley.com/disclosures/awards-disclosure.html
She holds a Bachelor of Arts (B.A.) from Knox College and a Juris Doctor (J.D.) from DePaul University College of Law. Before joining Morgan Stanley, she was a solo-practicing attorney, specializing in real estate tax appeal. Christina has been named to Morgan Stanley's prestigious Pacesetter's Club from 2023-2024.
Originally from Chicago, Christina maintains a strong sense of community with the city. She sits on the council of the Children’s Literacy Initiative and regularly takes advantage of the many volunteer opportunities the city offers, with a specific passion for Multiple Sclerosis cure efforts.
https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: WV, AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WY; General Securities Representative; Investment Advisor Representative
NMLS#: 1842858
NMLS#: 1842858
About Steven Nakovich
Steven Nakovich, who partnered with Arthur Pancoe in founding the Pancoe Nakovich Vishnubhakat Group at Morgan Stanley, also previously worked at Bear, Stearns & Co. He started at the firm as an institutional corporate bond salesman in 1976, later becoming the manager of the institutional fixed income department. Several years later he took on the additional responsibility of the day-to-day management of the institutional equity department. This ultimately led to Steve becoming Resident Senior Managing Director of the Chicago office and Midwest region from 1988 to 1994.
Prior to his tenure at Bear Stearns, Steve was vice president in the fixed-income investments division with Continental Illinois National Bank and Trust Company after originally joining the firm as a Credit Analyst. He has also been an instructor for the fixed-income course with the Chartered Financial Analysts Society. Steve earned both his B.A. in Finance/Accounting and his M.B.A. in Finance from Western Michigan University. He has been a member of the visiting committees for Biological Sciences and the Pritzker School of Medicine at the University of Chicago.
Steve has been active in a variety of charitable endeavors, including serving as a board member of the Catholic Health Partners Foundation, chairman of the Cenacle-Midwest Provincialate Investment Advisory Committee, and a key fundraiser for various healthcare institutions and organizations. He also established the Nakovich Fellows in the Section of Hematology/Oncology at the University of Chicago-Pritzker School of Medicine for 2004 thru 2006, and he contributed financial support to the Forefront Fund for the University of Chicago Medical Center.
Steve was recognized in 2010 as one of the Top 1000 Financial Advisors in the country by Barron’s. He and his wife Jan, have two children, Lauren and Mathew, and six grandchildren.
Disclosures
Barron's Top 1,000 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Feb 2010) Data compiled by Barron's based on time period from Sept 2008 - Sept 2009.
Prior to his tenure at Bear Stearns, Steve was vice president in the fixed-income investments division with Continental Illinois National Bank and Trust Company after originally joining the firm as a Credit Analyst. He has also been an instructor for the fixed-income course with the Chartered Financial Analysts Society. Steve earned both his B.A. in Finance/Accounting and his M.B.A. in Finance from Western Michigan University. He has been a member of the visiting committees for Biological Sciences and the Pritzker School of Medicine at the University of Chicago.
Steve has been active in a variety of charitable endeavors, including serving as a board member of the Catholic Health Partners Foundation, chairman of the Cenacle-Midwest Provincialate Investment Advisory Committee, and a key fundraiser for various healthcare institutions and organizations. He also established the Nakovich Fellows in the Section of Hematology/Oncology at the University of Chicago-Pritzker School of Medicine for 2004 thru 2006, and he contributed financial support to the Forefront Fund for the University of Chicago Medical Center.
Steve was recognized in 2010 as one of the Top 1000 Financial Advisors in the country by Barron’s. He and his wife Jan, have two children, Lauren and Mathew, and six grandchildren.
Disclosures
Barron's Top 1,000 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Feb 2010) Data compiled by Barron's based on time period from Sept 2008 - Sept 2009.
Securities Agent: OR, NV, NM, SC, PA, DE, MT, MO, MN, MI, ME, MA, AK, LA, OH, NY, RI, IL, HI, GA, FL, DC, CT, CO, CA, AZ, AR, AL, MD, NJ, ID, SD, TN, NH, KY, KS, NC, IN, WI, WA, VT, VA, UT, TX; General Securities Representative; Investment Advisor Representative
NMLS#: 1285368
NMLS#: 1285368
About Taso Nikols
As a Financial Advisor and Alternative Investments Director with the firm, Taso provides comprehensive wealth management solutions to a select clientele of ultra-high net worth entrepreneurs, executives and their families. His primary focus is working with clients and their tax/legal advisors to help create and maintain long-term financial plans that are transparent, properly diversified, while stressing fee and tax efficiency. This includes asset allocation and investment management across equities, fixed income, alternative investments, structured products/options, cash/liquidity management, and addressing complex trust and estate issues. Given his background, Taso also has the ability to help clients manage market volatility.
By working closely with Morgan Stanley's Investment Banking, Private Banking, Trading, Estate/Tax Planning, Cybersecurity and other divisions, Taso leverages the specialized resources of a global financial leader to holistically service clients' needs in a boutique fashion. Every client understandably has a different financial situation, a different appetite for risk, and varying family dynamics. For these reasons, his services offer a high degree of customization to accommodate the specific financial needs of each individual client.
Taso joined Morgan Stanley in 2015, after spending several years at Segal Consulting working directly with Multi-Employer/ Public Sector health and welfare institutions. He holds a Bachelor of Business Administration degree in both Finance and Economics from Loyola University in Chicago, Illinois. He lives in Chicago with his wife, Chrysta, and their son, Peter. In his spare time, Taso enjoys being outdoors, watching sports, cooking and most importantly, spending time with family and friends.
By working closely with Morgan Stanley's Investment Banking, Private Banking, Trading, Estate/Tax Planning, Cybersecurity and other divisions, Taso leverages the specialized resources of a global financial leader to holistically service clients' needs in a boutique fashion. Every client understandably has a different financial situation, a different appetite for risk, and varying family dynamics. For these reasons, his services offer a high degree of customization to accommodate the specific financial needs of each individual client.
Taso joined Morgan Stanley in 2015, after spending several years at Segal Consulting working directly with Multi-Employer/ Public Sector health and welfare institutions. He holds a Bachelor of Business Administration degree in both Finance and Economics from Loyola University in Chicago, Illinois. He lives in Chicago with his wife, Chrysta, and their son, Peter. In his spare time, Taso enjoys being outdoors, watching sports, cooking and most importantly, spending time with family and friends.
Securities Agent: WA, WY, WV, VA, UT, TX, SC, RI, PA, OH, NY, NV, NJ, MT, MN, MI, MD, MA, IN, IL, IA, GA, FL, DE, CT, CO, CA, AZ, AL, NC, DC, HI, NH, KS, KY, SD, LA, TN, VT, ME, MO, WI; General Securities Representative; Investment Advisor Representative
About Carol Meyer
Carol Meyer has more than 37 years of experience in the financial industry and holds a FINRA Series 3, 7, and 63 license. She graduated from Ashford University in 1984 with a Bachelor of Arts in Education and from there began working at Heinhold Commodities where she supported a team of commodity brokers at the Board of Trade in Chicago. Her interest in various types of investments, lead her to Bear Stearns in which she has worked with the PNV team from 1984 up until and including their move to Morgan Stanley.
About Laura McLaughlan
Laura is a Client Service Associate with the PNV Group. She joined Morgan Stanley in 2022 after working as a project manager in both the IT and not-for-profit sectors. Laura graduated from Illinois State University with a Bachelor of Arts in Communications and is a PMP-certified member of Project Management International’s Chicagoland Chapter. Laura enjoys volunteering and spending time with family.
About Dylan Sandhu
Dylan is a Registered Client Service Associate with the PNV Group, having joined Morgan Stanley in July 2024. He holds an undergraduate degree in Economics from Northwestern University, where he also played on the men's basketball team, and a Master’s in Management from the Kellogg School of Management. Dylan is Series 7 and Series 66 licensed, and is committed to supporting clients with a focus on service excellence. Outside of work, he enjoys playing basketball and DJing.
Contact Jaideep Vishnubhakat
Contact Christina Aquino
Contact Steven Nakovich
Contact Taso Nikols
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
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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
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
Are You Prepared for Tax Day?
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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
Donor Advised Funds: A Smart Way to Manage Your Giving
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Ready to start a conversation? Contact Pancoe Nakovich Vishnubhakat Group today.
1Morgan 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.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4When 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.
5When 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.
6Morgan 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
7Morgan 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.
8Morgan 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.
9Morgan 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.
10The 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.
11Investors 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Morgan 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.
16Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
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 and other legal matters.
17Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
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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:
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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 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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4When 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.
5When 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.
6Morgan 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
7Morgan 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.
8Morgan 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.
9Morgan 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.
10The 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.
11Investors 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Morgan 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.
16Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
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 and other legal matters.
17Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
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)
