Spencer J. Miller, CFP®
Senior Vice President, Branch Manager, Family Wealth Advisor
Phone:
(605) 399-3110(605) 399-3110
Spencer J. Miller, CFP®
Senior Vice President,
Branch Manager,
Family Wealth Advisor,
Financial Advisor
Direct:
(605) 399-3110(605) 399-3110
Toll-Free:
(800) 341-9690(800) 341-9690
My Mission Statement
Our mission is to bring value and trust to every relationship. We listen to you and your values to create a plan which will encompass all elements of your financial and life goals. Your plan will navigate you confidently through life’s evolving circumstances. When working with our team, we are committed to planning for your future together.
Whatever your goals....
Whatever your goals - asset growth, income, borrowing, risk management, asset allocation, retirement planning, charitable giving, just to name a few - designing a holistic wealth management plan is my top priority.
With access to Morgan Stanley's broad global platform we can select from a vast inventory of products and services. This open architecture enables me to deliver personalized investment and wealth management services, coupled with tailored in-depth advice. No matter what your investment needs are, I'm here to help.
With access to Morgan Stanley's broad global platform we can select from a vast inventory of products and services. This open architecture enables me to deliver personalized investment and wealth management services, coupled with tailored in-depth advice. No matter what your investment needs are, I'm here to help.
Services Include
- Financial PlanningFootnote1
- Divorce Financial AnalysisFootnote2
- Asset Management
- 401(k) Rollovers
- Life InsuranceFootnote3
- Long Term Care InsuranceFootnote4
- 529 PlansFootnote5
- Alternative InvestmentsFootnote6
- AnnuitiesFootnote7
- Business Succession PlanningFootnote8
- Cash ManagementFootnote9
- Certificates of DepositFootnote10
- CommoditiesFootnote11
- Corporate BondsFootnote12
- Fixed IncomeFootnote13
- Structured ProductsFootnote14
Securities Agent: AZ, GA, OH, RI, AK, CT, KS, NC, WA, CO, HI, LA, ME, PR, VT, VI, OR, NH, MD, AR, ID, MN, SC, WI, VA, TN, PA, MI, KY, IN, FL, DE, CA, ND, MS, MO, MA, UT, TX, SD, MT, OK, NY, NE, IL, DC, AL, IA, NJ, NM, NV, WV, WY; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1261909
NMLS#: 1261909
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Your Financial Life Guide: Our Process
Getting to Know Each Other
o Learn about you, your values and goals
o Understand any special needs or concerns
o Discuss the people, activities and assets affected by your goals
o What makes us different
o When preparing to schedule a introductory planning meeting please review the attached document checklist below.
Pre-Meeting Document Checklisto Understand any special needs or concerns
o Discuss the people, activities and assets affected by your goals
o What makes us different
o When preparing to schedule a introductory planning meeting please review the attached document checklist below.
Implementation of Planning Solution
o Opening your new accounts
o Transfer assets
o Keep you informed
o Discuss potential tax issues with your CPA
o Implement strategy
o Transfer assets
o Keep you informed
o Discuss potential tax issues with your CPA
o Implement strategy
Process, Service & Communication
o Update us about your life, goals & objectives
o Review progress towards plan goals
o Risk analysis and portfolio performance review
o Product solutions
o For us to better understand what’s most important to you in your financial picture, please review the attached document to help us review your financial concerns
What's Keeping You Up At Nighto Review progress towards plan goals
o Risk analysis and portfolio performance review
o Product solutions
o For us to better understand what’s most important to you in your financial picture, please review the attached document to help us review your financial concerns
Financial Planning / Life Navigator
Our financial planning process begins with you, your investment objectives and your financial goals. Our holistic approach encompasses all the elements of your financial life — your investments and your cash management needs — making sure they align with your goals and wealth management plan.
The sophisticated suite of tools and extensive list of resources that Morgan Stanley offers allows us to implement a process and plan that translates your goals into reality.
Our resource center designed to help you engage in meaningful, value-added conversations with your clients. Here you will find a wide range of content and materials covering a variety of life events and milestones that your clients might face. The resources include talking points, questions to ask, materials, resources, and action items.
The sophisticated suite of tools and extensive list of resources that Morgan Stanley offers allows us to implement a process and plan that translates your goals into reality.
Our resource center designed to help you engage in meaningful, value-added conversations with your clients. Here you will find a wide range of content and materials covering a variety of life events and milestones that your clients might face. The resources include talking points, questions to ask, materials, resources, and action items.
Goals Planning System (GPS)
Goals Planning System (GPS) is Morgan Stanley’s own integrated planning tool. Built on the Firm’s intellectual capital and capabilities, GPS is an intuitive and efficient platform used to quickly assess whether a client is “On Track” to achieving their financial goals.
Learn more
LifeView Intelligent Planning
LifeView is a suite of planning tools that includes goal-specific analysis that we can use with our clients to create a realistic, holistic strategy that integrates the various aspects of an individual’s financial life, including investments and cash management needs.
Complete the Questionnaire
Portfolio Risk Platform (Aladdin)
Morgan Stanley's Portfolio Risk Platform is powered by BlackRock's state-of-the-art Aladdin risk engine. It provides you with comprehensive risk analytics and a sophisticated view of the risk/return dichotomy across your financial portfolios. This helpful tool can assist you in making educated investment decisions with increased confidence.
Learn more
Morgan Stanley Online
Morgan Stanley Online (MSO) has a variety of features beyond viewing your account balance and activity. They include:
- eAuthorizations, an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
- Managing your everyday finances such as paying bills online, sending money or transferring funds
Learn more- eAuthorizations, an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
- Managing your everyday finances such as paying bills online, sending money or transferring funds
Total Wealth View
We've launched a new tool that allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile.
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind.
Learn moreThe ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind.
eDelivery
eDelivery provides you with the ability to view statements and other Firm documents electronically in lieu of paper. Clients who are registered in Morgan Stanley Online may enroll in eDelivery. Currently, documents available through eDelivery include statements, trade confirmations and prospectuses, general correspondence, selected Internal Revenue Service (IRS) approved tax documents, syndicate offerings, shareholder communications, and portfolio reports.
Learn more
Digital Vault
Keeping important documents and financial records organized and readily available is one of the best gifts you can give those you love. In the event of catastrophe or serious illness, disability or death, your Family Records Organizer can immediately provide vital, timely information to both your family and professional advisors. The Digital Vault on Morgan Stanley Online and the Mobile App allows you and your clients to build a central, shared document library where all documents are stored using encryption.
Learn more
Internet Safety For Your Kids
The internet can be a dangerous playground for children. While opportunities for education, friendship and fun abound, there are plenty of safety hazards, too.
Learn more
Six Steps to Creating an Emergency Fund
We all know the benefits of having money set aside for emergencies. Here’s how to go about it.
Learn more
Maintain Good Cybersecurity Habits
Whether it’s strengthening your passwords or treating emails from unknown senders with more caution, you can take a number of steps to help reduce the threat of identity theft, online scams, malware, fraud and more.
Learn moreMorgan Stanley Events
At Morgan Stanley, we believe that knowledge is the key to unlocking future success, and we’re excited to share our thought leadership and experience with you!
Estate Planning 101: Basics including How to Be a Trust Beneficiary
Watch the replayEntrepreneurship 101: Turning Ideas into Profit
Watch the replayNavigating College & Career Paths
Watch ReplayIntroduction to Money & Saving: Building a Strong Financial Foundation
Watch the replayCredit and Debt Management
Watch the replayCybersecurity
Watch the replayExploring Investments: Stocks, Bonds, and Beyond
Watch the replayWealth Education for the Next Generation | Home Buying: Navigating the Borrowing Landscape
Watch the replayWealth Education for the Next Generation | Tying the Financial Knot: Navigating Joint Finances & Communication
Watch the ReplayWealth Education for the Next Generation | Money & Saving: Financial Planning and Why It Matters to Me
Watch the ReplayOutlooks & Updates
Here at Morgan Stanley, we strive to simplify complex financial ideas so that our clients understand what is being done on their behalf to plan for their financial future. We are firm believers of giving our clients as many resources as possible so they can stay informed about the latest market trends, outlooks, and breakdowns. The links below provide detailed analysis on interesting topics that are affecting the finance and business worlds.
Digital technology is centered on how people communicate, consume, transact and travel. Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Here are a few of the technologies we have to offer our clients.
Digital technology is centered on how people communicate, consume, transact and travel. Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Here are a few of the technologies we have to offer our clients.
Global Investment Office
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Morgan Stanley Portfolio Insights
August Newsletter
In this newsletter, you’ll find timely resources including an investor’s guide to the new U.S. tax law, insights on how a potential “shadow Fed chair” could impact policy, and tips for supporting your child’s growth all year long. We’ve also included fresh recipe ideas for August and our cybersecurity safety tip of the month.
August Newsletter
Quarterly Theme: Tax Season
The theme that we are highlighting this quarter is taxes. In this one pager you will find useful resources for managing your taxes along with the 2025 tax tables.
View Tax Theme Newsletter Here
Alternative Investments
Our leading alternatives platform offers 200+ third-party and proprietary funds, including first look and exclusive opportunities, that may help qualified investors enhance returns, reduce volatility, manage taxes and generate income. From simplified vehicles available more broadly to institutional strategies, the platform supports a goals-based approach for asset allocation tailored to investor needs.
Morgan Stanley Alternative Investments
One Big Beautiful Bill Cheat Sheet
In this cheat sheet we highlight some of the most frequently discussed tax provisions included in the One Big Beautiful Bill Act.
View Cheat Sheet here
Private Markets
Morgan Stanley Private Markets offers eligible clients the opportunity to invest in a curated list of high-quality private companies directly or alongside an asset manager.
Morgan Stanley Private MarketsLocation
909 St Joseph St
6th Fl
Rapid City, SD 57701
US
Direct:
(605) 399-3110(605) 399-3110
Toll-Free:
(800) 341-9690(800) 341-9690
Fax:
(605) 341-9702(605) 341-9702
Meet My Team
Cheryl Haugse
Portfolio Associate
Phone:
(605) 399-3119(605) 399-3119
About Spencer J. Miller, CFP®
Spencer J Miller is a Senior Vice President and Branch Manager. He has over 25 years of wealth management experience and has been with Morgan Stanley for nearly 10 years.
Spencer began his career in wealth management with UBS in 1995 as a Financial Advisor. He later took on the responsibilities of Branch Manager. In 2011, he moved to the firm as a Financial Advisor and producing Branch Manager.
Spencer holds a Bachelor of Business Administration with an emphasis in Finance degree from the University of Nebraska – Lincoln. He is a Certified Financial Planner® and also holds the Morgan Stanley title of Family Wealth Advisor.
In his spare time, he enjoys hiking, mountain biking, and traveling with his family. Over the years Spencer has volunteered with Timberline Little League, Chamber of Commerce, and the YMCA. His family is also a member of South Canyon Lutheran Church. He and his wife, Frances, have been married for more than 15 years and have two children.
Spencer began his career in wealth management with UBS in 1995 as a Financial Advisor. He later took on the responsibilities of Branch Manager. In 2011, he moved to the firm as a Financial Advisor and producing Branch Manager.
Spencer holds a Bachelor of Business Administration with an emphasis in Finance degree from the University of Nebraska – Lincoln. He is a Certified Financial Planner® and also holds the Morgan Stanley title of Family Wealth Advisor.
In his spare time, he enjoys hiking, mountain biking, and traveling with his family. Over the years Spencer has volunteered with Timberline Little League, Chamber of Commerce, and the YMCA. His family is also a member of South Canyon Lutheran Church. He and his wife, Frances, have been married for more than 15 years and have two children.
About Cheryl Haugse
Cheryl joined Morgan Stanley in 2011, coming from a long career at UBS Financial Services, and its predecessor firm, Piper Jaffray. With more than 30 years of industry experience, Cheryl plays a vital role as the team’s portfolio associate. She is responsible for all areas of client service, including statements, account activity, checks, tax information, market quotes, and much more. Her focus is on providing the highest quality client support through in-depth operational and administrative account maintenance on a day-to-day basis. Cheryl holds Series 3, 7, 63 and 66 licenses.
When she is not working, Cheryl and her husband, Jack, enjoy motorcycle riding, attending local sports events, and spending time with family.
When she is not working, Cheryl and her husband, Jack, enjoy motorcycle riding, attending local sports events, and spending time with family.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
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
Ready to start a conversation? Contact Spencer J. Miller today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
4Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Investors 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.
6Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
7Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 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
10Investors 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.
11Investing in commodities entails significant risks. The commodities markets may fluctuate widely based on a variety of factors including changes in supply and demand relationships; governmental programs and policies; national and international political and economic events; war and terrorist events; changes in interest and exchange rates; trading activities in commodities and related contracts; pestilence; weather; technological change; and, the price volatility of a commodity. In addition, the commodities markets are subject to temporary distortions or other disruptions due to various factors, including lack of liquidity, participation of speculators and government intervention.
12Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
13Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
14Structured 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
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
4Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Investors 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.
6Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
7Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 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
10Investors 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.
11Investing in commodities entails significant risks. The commodities markets may fluctuate widely based on a variety of factors including changes in supply and demand relationships; governmental programs and policies; national and international political and economic events; war and terrorist events; changes in interest and exchange rates; trading activities in commodities and related contracts; pestilence; weather; technological change; and, the price volatility of a commodity. In addition, the commodities markets are subject to temporary distortions or other disruptions due to various factors, including lack of liquidity, participation of speculators and government intervention.
12Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
13Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
14Structured 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)
