Our Story and Services

Our clients are much more than a portfolio of assets. They are individuals and families who seek a team of trusted professionals who not only understands their specific challenges and goals, but provides tailored guidance on a full range of financial topics.

At Schmitt-Young Group, we focus on what is most important to you and provide the specialized skills and strategies required to make informed, confident decisions about your future. When you work with us, you will be treated with respect, care and an unwavering commitment to serving your needs and exceeding your expectations.

Since 2001, we have developed a strong and collaborative practice that focuses on serving the specialized needs of our country’s Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) community and allies. We have fostered longstanding relationships with the Human Rights Campaign in Washington, D.C., as well as many Employee Resource Groups at companies around the country. What’s more, we collaborated with The College for Financial Planning, who sought our knowledge, experience and insights in the development of their Accredited Domestic Partnership Advisor (ADPA®) designation.

With offices in New York and Beverly Hills, we have established ourselves as a seasoned advisory team who not only serves the LGBTQ community and its allies, but utilizes our strengths to meet the diverse needs of a broader group of clients:

• Successful professionals and corporate executives
• Self-made entrepreneurs and business owners
• Retirees and individuals planning for retirement
• Traditional families in need of wealth management strategies
• Referrals from existing clients and industry professionals

While each client has unique goals and circumstances, they all have one thing in common: The desire to simplify their finances and develop an integrated wealth strategy. We are proud of the services we provide our clients and welcome the opportunity to deliver this same level of excellence to you and your loved ones.
Services Include
  • Wealth Management1
  • LGBT Planning Services
  • Estate Planning Strategies2
  • Retirement Planning3
  • Professional Portfolio Management4
  • Philanthropic Management5
  • Endowments and Foundations6
  • Cash Management and Lending Products7
  • Life Insurance8
  • Alternative Investments9
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

What Sets Us Apart

We come to work every day focused on making a real difference in the lives of our clients and their families. The following core values serve as the cornerstone of our practice and underscore our commitment to an exceptional client experience.
  • Caring Relationships
    We are dedicated to building deep and longstanding relationships, based on trust and integrity. We do this by working with a select group of individuals, families and business owners, who value our depth of knowledge in providing comprehensive solutions that go well beyond investments.
  • Knowledge and Experience
    Our team has a concentration of credentials that is rare in one group of advisors. Both Steven and Kyle have acquired the rigorous Certified Financial PlannerTM and Chartered Retirement Planning Specialist® designations and were instrumental in developing The College of Financial Planning’s Accredited Domestic Partnership Advisor® certification. We use our analytical skills to research, evaluate and recommend appropriate strategies for your particular needs.
  • LGBTQ Advisors and Advocates
    We work closely with the LGBTQ community and have established ourselves as advocates and financial specialists that address the unique goals and challenges of our community. Many of the strategies we have developed for these clients have relevance and applicability for our entire client base. We share these sophisticated solutions, when appropriate, to help minimize taxes and optimize estate and gifting strategies.
  • Disciplined Process
    From planning to execution, every step of our results-driven process is designed to ensure a clear and consistent experience for every client. As the adage goes: “The devil is in the details.” We are committed to being your single point of contact for all things financial. Our detailed process begins with a thorough financial plan to understand your goals, dreams and concerns, which in turn, drives the solutions needed for your customized wealth management plan.

Working with You

Our disciplined process identifies and implements appropriate solutions to help empower you to achieve – and maintain – financial success.
  • Step 1: Get to Know You
    We begin with an in-depth conversation where we listen carefully to understand what is important to you. We learn about the values that shape your decisions and identify any circumstances unique to your situation by having you complete our detailed financial checklist (see below).
    Get Started: SYG Financial Document Checklist
  • Step 2: Analyze and Assess
    Next, we review your financial situation and determine the likelihood of reaching your goals. We’ll discuss a high-level overview of your situation and recommendations as we begin to shift your assets to Morgan Stanley.
  • Step 3: Present Strategy
    In this step, we’ll present our recommendations for your customized portfolio. As Portfolio Management Directors at Morgan Stanley, we are qualified to use a discretionary Portfolio Management program to manage your assets. We use a conservative and defensive modeling approach designed to maximize portfolio return, while managing the overall risk of your portfolio.
  • Step 4: Implement
    Upon your approval, we’ll activate our investment recommendations as we begin our formalized financial planning process, which is designed to identify appropriate wealth management strategies for your situation.
  • Step 5: Ongoing Reviews
    We monitor the progress of your plan through ongoing calls and meetings. These structured reviews include an overview of your investment performance, the markets and an open dialogue to ensure we remain on top of all your financial goals and needs.
  • Step 6: Tools and Services
    We help you optimize your wealth through a broad array of digital tools and services. These include access to Morgan Stanley’s budgeting tools, premier cash management programs, asset aggregation service and goals-planning system. We walk you through each option and help integrate these digital offerings into the overall management of your finances.

Giving Back

At Schmitt-Young Group, we are a closely-knit team of seasoned professionals. We value loyalty to each other and to the individuals, families and organizations we serve every day. We have deep roots in our community and a deeper commitment to sustaining its character for future generations.

Through a variety of collaborative efforts, we are highly engaged in creating a better and brighter future. Our partnership with various organizations supports important initiatives ranging from LGBTQ rights to broader social justice causes.

Collectively and individually, we serve a number of organizations that include:
  • • The Human Rights Campaign
  • • Beth Chayim Chadashim (Temple BCC), Greater Los Angeles area
  • • ONE Archives Foundation, Greater Los Angeles area
  • • Gay Men’s Chorus, New York and Los Angeles
  • • National LGBT Bar
    Morgan Stanley’s culture of global citizenship is something we embrace locally by leveraging our global resources in the communities where we do business. The firm invests in children’s health initiatives along with education, diversity and cultural programs that better our people and society. We are proud to be members of the Morgan Stanley family and carry on the firm’s philanthropic tradition.

Location

522 5th Avenue
15th Floor
New York, NY 10036
US
Direct:
(212) 296-7060(212) 296-7060

Meet Schmitt-Young Group

About Me

Together with business partner, Kyle D. Young, CFP®, ADPA®, Financial Advisor, Steven founded Schmitt-Young Group at Morgan Stanley, currently one of our country’s largest LGBTQ-focused practices. Schmitt-Young Group at Morgan Stanley now has more than $425 million in client assets under management (as of February 2019). Within the structure of the team, Steven focuses primarily on wealth management and the critical decision making that impacts client portfolios. Steven's extensive background in finance affords him the experience to teach the importance of proper asset allocation, diversification and active money management. Whether you prefer a more collaborative approach to handling your finances or you opt to let us take care of the details, Steven and his team of professionals are dedicated to providing you with the personalized investment planning services you deserve.

After earning his undergraduate degree with a Bachelor of Science in Finance from Pennsylvania State University, he received his MBA with a concentration in finance from William Paterson University. Steven also holds the CFP® certification and ADPA® designation. Steven has been honored as a Premier Advisor* for the majority of his ten-plus years at Wells Fargo Advisors and was named to President’s Council in 2013 and 2014. Aside from his knowledge on LGBTQ financial issues, his interest and passion for meteorology provides a different perspective on environmental conditions that may potentially highlight opportunities in the marketplace generated by global climate and weather trends.

Away from the office, his partner, Paul, and he enjoy traveling to exotic destinations, snowmobiling, hiking and donating much needed time and resources to LGBTQ organizations.
Securities Agent: TX, CT, CA, WY, WA, VA, UT, SD, SC, RI, PA, OR, OH, NY, NV, NM, NJ, NC, MT, MO, MI, ME, MD, MA, GA, FL, DE, DC, CO, AZ, AR, AL; Managed Futures; General Securities Representative; Investment Advisor Representative
NMLS#: 1615190

About Me

As a founding partner of the Schmitt Young Group of Morgan Stanley, Kyle is committed to providing the LGBTQ community and its allies with personalized investment planning services to help reach their financial goals. Kyle co-leads one of the country's largest LGBTQ-focused practices with more than $425 million in client assets under management (as of February 2019). Within the group Kyle focuses on the creation and implementation of comprehensive wealth management plans for his clients. Whether you are an individual or part of a couple, his team of professionals are dedicated to finding financial strategies tailored to your unique situation.

Kyle earned his undergraduate degree in economics from Rutgers University, and holds the CFP® certification and ADPA® designation. As a gay advisor who served as a consultant during the development of the ADPA® program, he not only has training in the field, but also a deep knowledge and comprehension of the unique financial needs of LGBTQ couples and individuals. Along with being instrumental in the creation of the ADPA® program, Kyle is also a consultant regarding LGBTQ financial issues for various media outlets. In addition to being quoted in Forbes and Fortune, Kyle frequently appeared as a guest of The Focus Group on Sirius Radio’s OutQ channel.

Giving back to the LGBTQ community is a priority. Kyle is proud to have served Out & Equal Workplace Advocates as Chair for the Metro NY Regional Affiliate from 2010-2011, and on the board from 2009-2013. Kyle enjoys running with New York Road Runners and travelling the globe to participate in various marathons.
Securities Agent: TX, CT, WY, WA, VA, UT, SD, SC, RI, PA, OR, OH, NY, NV, NM, NJ, NC, MT, MO, MI, ME, MD, MA, GA, FL, DE, DC, CO, CA, AZ, AR, AL; Managed Futures; General Securities Representative; Investment Advisor Representative
NMLS#: 311843

About Me

Terence led litigation support teams for some of the biggest law firms and financial institutions in New York City. Deciphering complex financial subject matter opened his eyes to new possibilities, and while working on cases that graced the covers of the New York Times and The Wall Street Journal, he realized that his talents were not limited to legal applications. Terence wanted to have a positive impact on people’s lives and he knew that he could use his talents and his experience with the law to impart financial well-being, and so in 2016 he joined Morgan Stanley.

Financial planning is the first step in a comprehensive approach to financial well-being, and so, as soon as he became FINRA® Series 7 and 66 registered; he dedicated himself to becoming an expert in Morgan Stanley’s financial planning platforms and systems. It was in a financial planning capacity that Terence first began working closely with Steven Schmitt and Kyle Young in 2017; the synergy was readily apparent, and in 2018 Terence officially became a part of the Schmitt-Young Group.

Terence received his bachelor’s degree in Business Administration from Bucknell University and his juris doctorate from St. John’s University School of Law. Terence resides in Williamsburg, Brooklyn and is the Secretary of the Board for a medical device company, a photography collector, and a Free Mason.
Securities Agent: TX, CT, WY, WA, VA, UT, SD, SC, RI, PA, OR, OH, NY, NV, NM, NJ, NC, MT, MO, MI, ME, MD, MA, GA, FL, DE, DC, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1811722

About Me

Cassandra joined Schmitt Young Group in 2014, where her main focus was coordinating marketing and events for the team.  She continues to provide the group with the creation of customized group marketing and full-service seminar and event planning; from budget and venue research to invitations and day-of event coordination.  Her daily role extends to assisting the group’s advisors as well as offering high-level service to SYG’s affluent LGBTQ clients and allies, including opening and transferring new accounts, processing transactions, etc.

Cassandra was graduated with a Bachelor of Architecture from Syracuse University in 2010.  In her spare time she enjoys traveling, watching films, and reading.

About Me

Valerie joined Schmitt-Young Group in 2017 with an extensive background in the Financial Services industry. Having worked as an Associate Private Banker within the Morgan Stanley Private Bank prior to joining the group, Valerie leverages her acquired skill set to assist clients with their Banking and Lending needs. Additionally, she focuses on marketing, providing first class client service, trade and operational support. Valerie maintains her Series 7, 66, 65, Life & Health Insurance licenses.

Valerie received her Bachelor of Business Administration degree in Finance and Investments from Baruch College and her Master of Business Administration in Finance from Fordham University. She lives with her husband and daughter in Brooklyn, New York. Outside of the office, Valerie enjoys cooking, traveling and spending time with family.

Investment and Market Perspectives

On the Markets

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
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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
Investing in Artificial Intelligence and Automation

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AI is an exciting growth area, but the investing opportunities are not always obvious. Here’s how to integrate this theme into your portfolio.

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
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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
  • Retirement Plan Sponsors
  • Qualified Retirement Plans
  • Corporate Pension Funds
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Many of us face money worries. You may be able to get advice and education from an unexpected source.

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
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Choosing an Environmental Charity

There are a multitude of non-profits dedicated to helping protect the environment. Here’s how to choose where you want to give.

Mosaic

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Ready to start a conversation? Contact Schmitt-Young Group today.
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