Rick Dombrowski
Private Banker
Sean T. Gallagher
Senior Vice President,
Financial Advisor,
Senior Portfolio Management Director,
Financial Planning Specialist
Direct:
(505) 988-7719(505) 988-7719
Toll-Free:
(800) 757-3832(800) 757-3832
My Mission Statement
Striving to power your progress toward the goals you hope to achieve for yourself and your family.
Sean T. Gallagher Named America's Best-in-State
Wealth Advisors Forbes Magazine | 2018-2024
Sean T. Gallagher Named America's Best-in-State
Wealth Advisors Forbes Magazine | 2018-2024
Sean T Gallagher
I have always had a passion for investing and the financial markets. I remember growing up watching my father's enthusiasm and enjoyment in Institutional Equity Sales. Even as a child I could sense how fulfilled he was by the career he’d chosen. When I became a Financial Advisor more than 30 years ago, I have felt the pride and happiness that comes with helping clients retire in comfort, send their children to college or reach other goals they might not have been able to reach without my advice. I strive to serve a clientele of accomplished individuals, their families, foundations and businesses. Many clients have worked in the financial services industry which is huge compliment and honor I have to be able to serve them. As of November 2024, our clients currently entrust us with over $575 million in assets under management.
As a Morgan Stanley-credentialed Portfolio Management Director, I manage assets on a discretionary basis. That means you can either let me assume responsibility for day-to-day investment decisions you would rather not make on your own or remain involved in the investment process. The strategy I’ve developed over the last 18 years is called Power 5 and is described in detail, refer to Investing Your Assets for more information. I also go beyond my clients’ investment portfolios to provide them with comprehensive financial planning that encompasses both sides of their personal balance sheets and virtually every aspect of their finances.
Disclosures:
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Disclaimer:
Morgan 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.
As a Morgan Stanley-credentialed Portfolio Management Director, I manage assets on a discretionary basis. That means you can either let me assume responsibility for day-to-day investment decisions you would rather not make on your own or remain involved in the investment process. The strategy I’ve developed over the last 18 years is called Power 5 and is described in detail, refer to Investing Your Assets for more information. I also go beyond my clients’ investment portfolios to provide them with comprehensive financial planning that encompasses both sides of their personal balance sheets and virtually every aspect of their finances.
Disclosures:
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Disclaimer:
Morgan 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.
Services Include
- Wealth ManagementFootnote1
- 401(k) Rollovers
- 529 PlansFootnote2
- Asset Management
- Exchange Traded FundsFootnote3
- Financial PlanningFootnote4
- Lending Products
- Life InsuranceFootnote5
- Planning for Education FundingFootnote6
- Professional Portfolio ManagementFootnote7
- Retirement PlanningFootnote8
- Sustainable InvestingFootnote9
Securities Agent: WY, AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL, IN, KS, LA, MA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NM, NV, NY, OH, OK, OR, PR, RI, SC, SD, TX, UT, WA, WI, HI, IA, ID, KY, ME, NH, NJ, PA, TN, VA, VI, VT, WV; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1364423
NMLS#: 1364423
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Awards & Recognitions
I help successful individuals and entities pursue their financial goals through dynamic investment options designed to achieve long-term objectives. I am committed to a transparent, process-oriented culture designed to help you achieve, maintain, and ultimately transfer wealth.
My consistency and differentiating value to my clients has earned me recognition by Forbes.
My consistency and differentiating value to my clients has earned me recognition by Forbes.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2024
Sean Gallagher has been named to Forbes Magazine’s 2024 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2023
Sean Gallagher has been named to Forbes Magazine’s 2023 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2022
Sean Gallagher has been named to Forbes Magazine’s 2022 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2021
Sean Gallagher has been named to Forbes Magazine’s 2021 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2020
Sean Gallagher has been named to Forbes Magazine’s 2020 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2019
Sean Gallagher has been named to Forbes Magazine’s 2019 list of America’s Best-in-State Wealth Advisors.
Forbes Magazine I America's Best-in-State Wealth Advisors I 2018
Sean Gallagher has been named to Forbes Magazine’s 2018 list of America’s Best-in-State Wealth Advisors.
Disclosures:
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Disclosures:
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
About Me
I bring more than 30 years of experience to every client I serve, but my passion for the financial markets began long before I actually entered the business. My father was a Financial Advisor and I remember recognizing the obvious sense of fulfillment he derived from doing whatever he did at the office all day. It was only later I realized what his job entailed, and I set out to not so much follow in his footsteps as to do whatever was necessary to achieve similar fulfillment in my career.
While a student at The University of Vermont, I interned for two summers as a specialist clerk on the floor of the American Stock Exchange. The environment was exciting, but it made me understand that my priorities lay with helping people do whatever was necessary to feel more confident about their finances. After graduation, I went to work with a major retirement and deferred compensation plan specialist and spent the next three years advising federal employees on how to maximize the benefits of their 457 Plans. Previous to this time, I lived in Northern New Mexico and fell in love with it. I later joined Kemper Securities in 1992 as a Financial Advisor and in 1994, I transitioned my practice to a Morgan Stanley predecessor firm. 30 years later, I’ve achieved the same sense of fulfillment as my father because I’ve helped clients make the decisions necessary to retire comfortably, send their kids to college and achieve the goals most important to them and their families.
Over the years, I’ve added to my credentials by earning Morgan Stanley’s Financial Planning Specialist and Portfolio Management Director designations. I take a holistic approach to my clients’ finances and work with them to develop comprehensive plans that help them understand what they must do to achieve the goals most important to them. I’ve also created a proprietary investment strategy that I call Power 5. It offers participation in what I believe to be the five strongest sectors of the market at any given time.
Outside the office, I have been a volunteer with Kitchen Angels, an organization dedicated to delivering wholesome meals to people who need them most. I’m also an avid squash player and skier (after all, I live in New Mexico), and in fact, I worked as a ski instructor at Taos Ski Valley many years ago.
While a student at The University of Vermont, I interned for two summers as a specialist clerk on the floor of the American Stock Exchange. The environment was exciting, but it made me understand that my priorities lay with helping people do whatever was necessary to feel more confident about their finances. After graduation, I went to work with a major retirement and deferred compensation plan specialist and spent the next three years advising federal employees on how to maximize the benefits of their 457 Plans. Previous to this time, I lived in Northern New Mexico and fell in love with it. I later joined Kemper Securities in 1992 as a Financial Advisor and in 1994, I transitioned my practice to a Morgan Stanley predecessor firm. 30 years later, I’ve achieved the same sense of fulfillment as my father because I’ve helped clients make the decisions necessary to retire comfortably, send their kids to college and achieve the goals most important to them and their families.
Over the years, I’ve added to my credentials by earning Morgan Stanley’s Financial Planning Specialist and Portfolio Management Director designations. I take a holistic approach to my clients’ finances and work with them to develop comprehensive plans that help them understand what they must do to achieve the goals most important to them. I’ve also created a proprietary investment strategy that I call Power 5. It offers participation in what I believe to be the five strongest sectors of the market at any given time.
Outside the office, I have been a volunteer with Kitchen Angels, an organization dedicated to delivering wholesome meals to people who need them most. I’m also an avid squash player and skier (after all, I live in New Mexico), and in fact, I worked as a ski instructor at Taos Ski Valley many years ago.
How I Work with Clients
Have you ever had a financial plan developed to help meet your unique goals and circumstances? Surprisingly, many of my clients never went through this exercise until they actually became my client.
I believe that financial planning is critical to the success of my clients. I will work with you to create a plan that is not only easy to understand, but adaptable to life changes. I am committed to serving as a sounding board for any questions or concerns you have about your financial life.
Specifically, my process for working with clients involves the following steps:
- Who are you as a person, not just an investor? Our initial conversations focus on what you hope to achieve for yourself and your family and what you fear might be standing in your way.
- We'll try to quantify the cost of your objectives, take inventory of your finances and with the help of Morgan Stanley's Goals-Planning System, a sophisticated planning service we call GPS for short, we determine where you are versus the goals you hope to achieve someday. Based on our findings, we'll develop strategies designed to fill any gaps you might have and address any challenges you may face.
- As a Morgan Stanley-credentialed Portfolio Management Director I have developed a proprietary investment strategy called Power 5 that offers participation in what I believe to be the five strongest sectors of the market at any given time. Strength is measured primarily by revenue and earnings growth and I work with research professionals inside and outside Morgan Stanley in an attempt to maximize the accuracy of my assessments.
- Beyond your investments, we may work with your attorney, accountant and Morgan Stanley professionals to develop customized strategies in lending, insurance and other disciplines relevant to your situation.
- As you would expect, I monitor performance on an ongoing basis and may alter our strategies to accommodate changing circumstances in your life or trends in the financial markets. When those markets turn turbulent, as they do from time to time, you can count on me to help you understand what's going on and avoid emotional decisions that may impede your long-term progress.
Learn more below:
Power 5 Strategy
My passion for the financial markets led me to create my proprietary Power 5 strategy, Perhaps a simple way to explain how Power 5 works is to take it letter by letter:
P = Process
I seek to invest my clients’ assets in what I believe to be the five strongest sectors of the market. To determine relative strength, I employ the intellectual capital of Morgan Stanley investment research and several respected outside analytical sources. Individual stock selection is based on a similar approach, with strength measured by revenue and earnings growth, as well as technical strength within the stock’s price movements.
O = Outcomes
My goal is to help you reach yours without assuming excessive risk. Depending on your goals and risk tolerance, your portfolio might also contain a fixed income component implemented with carefully selected ETFs representing various sectors of the bond market. As well as implementing the use of Alternative Investments if warranted.
W = Working Relationship
My approach to advising clients is collaborative and personalized. I tend to talk frequently to my clients so they can understand what I do and why I do it. At the same time, I want to understand what’s going on in their lives and whether changes in their circumstances might warrant an adjustment to their strategy. I am always here for my clients, as well as their family and friends, to answer their questions and help them address any concerns they may have.
E= Evaluate
It is important to continually evaluate where you are in trying to achieve your goals. When doing an in person or phone review we take a look at your progress toward your goals and know if you are On Track, At Risk or Off Track. If we are At Risk or Off Track we have a discussion of what levers we can pull to get you On Track.
R= Results Driven
As a Morgan Stanley-credentialed Portfolio Management Director, I am responsible for the results achieved by the strategies I’ve created, not a mutual fund or other third-party asset manager. You can always find me accessible and amenable to discussing performance and whether my approach is helping meet your expectations.
Client Service Team
Rob Knowlton - Senior Client Service Associate
Phone:
(505) 988-7732(505) 988-7732
Email:rob.knowlton@morganstanley.com
Rob Knowlton has been with Morgan Stanley in the client service role for 17 years. Rob’s vast knowledge of servicing client needs includes account opening, general account maintenance, funds transfers and much more.
Prior to joining Morgan Stanley, Rob worked as an assistant in the Santa Fe Public Schools and as a Varsity Softball, Varsity Girl’s Basketball and JV Boys Soccer Coach at Munich International School in Munich, Germany. Rob is originally from Minnesota and received his Associate of Applied Science Degree in Law Enforcement.
Rob lives in Santa Fe with his wife of 21 years, Lisa, and their 15 Year old daughter, Molly, and 10 year old son, Bobby. He enjoys painting, hiking, golf, traveling and spending time with his family.
Prior to joining Morgan Stanley, Rob worked as an assistant in the Santa Fe Public Schools and as a Varsity Softball, Varsity Girl’s Basketball and JV Boys Soccer Coach at Munich International School in Munich, Germany. Rob is originally from Minnesota and received his Associate of Applied Science Degree in Law Enforcement.
Rob lives in Santa Fe with his wife of 21 years, Lisa, and their 15 Year old daughter, Molly, and 10 year old son, Bobby. He enjoys painting, hiking, golf, traveling and spending time with his family.
Brooke Czoski - Client Service Associate
Phone:
(505) 988-7718(505) 988-7718
Email:Brooke.Czoski@morganstanley.com
Brooke Czoski is originally from Santa Fe, NM, however, moved away after attending St. Michael’s High School to pursue her studies. She graduated with a B.S. in business from Marymount Manhattan College in New York City and a Master’s in marketing from Trinity College in Dublin, Ireland. While in Ireland, she worked for both the Westin hotel and X (Twitter at the time) in sales, marketing, and events.
Upon returning to Santa Fe, Brooke managed Geronimo restaurant and was most recently the Director of Events & Marketing for the Santa Fe Railyard Community Corporation. Brooke’s passion in life is travel and the last two destinations she visited were India and the UAE. Outside of work, she enjoys the Santa Fe art and food scene, hiking, and spending time with family and friends.
Upon returning to Santa Fe, Brooke managed Geronimo restaurant and was most recently the Director of Events & Marketing for the Santa Fe Railyard Community Corporation. Brooke’s passion in life is travel and the last two destinations she visited were India and the UAE. Outside of work, she enjoys the Santa Fe art and food scene, hiking, and spending time with family and friends.
Location
150 Washington Ave
Suite 301
Santa Fe, NM 87501
US
Direct:
(505) 988-7719(505) 988-7719
Toll-Free:
(800) 757-3832(800) 757-3832
Fax:
(505) 988-7777(505) 988-7777
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
Alex Delgadillo
Financial Planning Director, Vice President
Teddy Lopez
Planning Associate
About Rick Dombrowski
Rick Dombrowski is a Private Banker serving Morgan Stanley Wealth Management offices in Arizona.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Rick began his career in financial services in 1996, and joined Morgan Stanley in 2014 as a Private Banker. Prior to joining the firm, he was a Private Banker at BBVA Compass. He also served as a Credit Analyst, Private Banker and Regional Credit Manager at Wells Fargo Bank, N.A.
Rick is a graduate of Arizona State University, where he received a Bachelor of Science in Finance. He lives in Scottsdale, Arizona with his family. Outside of the office, Rick enjoys music, skiing, and traveling.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Rick began his career in financial services in 1996, and joined Morgan Stanley in 2014 as a Private Banker. Prior to joining the firm, he was a Private Banker at BBVA Compass. He also served as a Credit Analyst, Private Banker and Regional Credit Manager at Wells Fargo Bank, N.A.
Rick is a graduate of Arizona State University, where he received a Bachelor of Science in Finance. He lives in Scottsdale, Arizona with his family. Outside of the office, Rick enjoys music, skiing, and traveling.
NMLS#: 512436
About Alex Delgadillo
Alex is a Vice President and Financial Planning Director serving Morgan Stanley’s Wealth Management offices in Arizona and New Mexico He is responsible for helping Financial Advisors with their clients’ and prospects’ financial planning needs.
Alex began his career in financial services in 2010, and joined Morgan Stanley in 2022. Prior to his current position, he worked as a Private Client Advisor for J.P. Morgan.
Alex graduated from Arizona State University and Tecnológico de Monterrey and holds his Certified Financial Planner™ designation. Alex lives in Phoenix, Arizona with his family. Outside of work, Alex enjoys film production, stand-up comedy, and tennis. Some organizations that he supports include the Community Food Bank of Southern Arizona, Phoenix Committee on Foreign Relations, Phoenix Sister Cities, Detour Theatre Company, and Cowtown SKATE.
Alex began his career in financial services in 2010, and joined Morgan Stanley in 2022. Prior to his current position, he worked as a Private Client Advisor for J.P. Morgan.
Alex graduated from Arizona State University and Tecnológico de Monterrey and holds his Certified Financial Planner™ designation. Alex lives in Phoenix, Arizona with his family. Outside of work, Alex enjoys film production, stand-up comedy, and tennis. Some organizations that he supports include the Community Food Bank of Southern Arizona, Phoenix Committee on Foreign Relations, Phoenix Sister Cities, Detour Theatre Company, and Cowtown SKATE.
About Teddy Lopez
Teddy Lopez 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 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. Teddy 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 from the University of Notre Dame and received the Financial Planning Specialist® designation from the College for Financial Planning. Teddy is originally from Costa Mesa, California and currently resides in New York City, New York.
He earned his undergraduate degree from the University of Notre Dame and received the Financial Planning Specialist® designation from the College for Financial Planning. Teddy is originally from Costa Mesa, California and currently resides in New York City, New York.
Wealth Management
From My Desk
Q1 Newsletter 2025
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
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
Article Image
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
Article Image
Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
Article Image
Ready to start a conversation? Contact Sean T. Gallagher today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
2Investors 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.
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.
5Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
6When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
7Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
9The 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
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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.
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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.
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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
2Investors 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.
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.
5Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
6When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
7Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
9The 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.
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Awards Disclosures
CRC 6491812 (04/2024)
