Lorry Rosado
Private Banker
Steve Schaeffer
Senior Vice President, Wealth Management,
Financial Advisor,
Financial Planning Specialist,
Senior Portfolio Manager
Direct:
(215) 854-6041(215) 854-6041
Toll-Free:
(800) 233-1414(800) 233-1414
Industry Award WinnerMy Mission Statement
Excellence in helping clients like you with your personalized investment and financial strategies
My Story
Steve Schaeffer began his investment career in 2001 after earning his Bachelor's degree from West Chester University. His primary responsibilities include managing client relationships, designing investment strategies, implementing liability management and succession planning strategies by coordinating with accountants, estate attorneys, and other professionals to shape clients' full financial lives.
Steve is a Senior Vice President and holds the accredited Asset Management Specialist designation, awarded by the College of Financial Planning and the designation of Financial Planning Specialist since 2007. Steve has spent his career at Morgan Stanley serving the diverse financial need of his clients. Over that time, he has developed deep relationships with those he serves and prides himself on helping his clients plan for their financial future.
He is a three time marathon finisher and enjoys sports, films, traveling and spending time at the New Jersey Shore and the Pocono Mountains with his family. He lives with his wife and two children, Sam and Sienna in Lower Gwynedd, Pennsylvania.
Steve is a Senior Vice President and holds the accredited Asset Management Specialist designation, awarded by the College of Financial Planning and the designation of Financial Planning Specialist since 2007. Steve has spent his career at Morgan Stanley serving the diverse financial need of his clients. Over that time, he has developed deep relationships with those he serves and prides himself on helping his clients plan for their financial future.
He is a three time marathon finisher and enjoys sports, films, traveling and spending time at the New Jersey Shore and the Pocono Mountains with his family. He lives with his wife and two children, Sam and Sienna in Lower Gwynedd, Pennsylvania.
Services Include
- Wealth ManagementFootnote1
- 401(k) Rollovers
- Asset Management
- Estate Planning StrategiesFootnote2
- Alternative InvestmentsFootnote3
- AnnuitiesFootnote4
- Business PlanningFootnote5
- Business Succession PlanningFootnote6
- Cash ManagementFootnote7
- Corporate Retirement PlansFootnote8
- Executive Financial ServicesFootnote9
- Financial PlanningFootnote10
- Lending Products
- Life InsuranceFootnote11
- Qualified Retirement PlansFootnote12
- Retirement PlanningFootnote13
- Trust Services*
Securities Agent: DC, WI, TN, MN, IL, IA, AZ, VA, SD, OR, NM, OH, NH, MA, KS, GA, CT, CO, WA, TX, NJ, NE, MT, MI, ID, PA, NC, MO, ME, MD, IN, FL, VT, OK, LA, NV, WY, NY, CA, AL, WV, SC, RI, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 1492054
NMLS#: 1492054
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Asset Allocation and Portfolio Planning
I will work with you using a process that focuses on you and your goals, integrating investment decisions with your immediate financial needs and desired aspirations. This process encompasses four steps:
1 Personal Review
Before I can advise you, I must understand you and your goals. I will guide you through an extensive discovery process to identify your objectives, time horizon, tolerance for risk and other considerations that may play a role in shaping your investment strategy.
2 Asset Allocation and Portfolio Planning
Your input drives the development of a personalized financial strategy. Designed to help you meet your specific needs, it addresses areas such as retirement, education expenses, and tax minimization potential. When my analysis is complete, I will present to you an investment strategy that helps to identify appropriate diversification for your portfolio.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
3 Implementation
After I have discussed and refined your strategy, I will work closely with you to bring the elements to life. Should we decide that outside money managers are appropriate for you, I will help you select from the hundreds of investment management firms available to you. If you prefer to invest in individual securities, I can help identify specific stocks, bonds and other securities that may be suitable for your portfolio.
4 Ongoing Communications and Reporting
I view ongoing communication as the foundation of our successful collaboration with you. I will make every effort to keep abreast of your changing financial needs and provide viable strategies to help you meet them. This means reviewing your portfolio together at your request. When your circumstances change, I will work with you to revise your strategy and reposition your assets to reflect your new needs and goals.
Topics To Consider
I want to make sure that my clients are always provided with the most important, up-to-date information that can impact them financially. Here, I highlight and discuss topics that are both useful and informative.
eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App. It's quick, convenient & secure.
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529 Education Savings Plans
529 plans offer a flexible, tax-advantaged way to invest for education expenses while helping to improve estate planning. Gain fiduciary oversight of your education funding strategy within the context of your broader portfolio through the exclusive Morgan Stanley National Advisory 529 Plan.
529 Plan Options at Morgan Stanley
U.S. Home Prices: Is This Time Different?
Home prices have been steadily climbing all across the U.S. How should Americans think about home prices, rising interest rates and affordability?
U.S. Home Prices: Is This Time Different?
The Future of Food: 4 Solutions for a Hungry Planet
Learn why feeding the world's growing population will prove ever more difficult; but innovative solutions with investment potential could be ahead.
The Future of Food: 4 Solutions for a Hungry PlanetFinancial Planning
One of the many benefits of personalized advice from a financial advisor is the ability to create a financial plan. Regardless of your stage of life, there are steps you can take to prepare yourself and your loved ones for the future.
What to Do If You Are Off Track on Your Goals
If we never stray from our goals, they are not ambitious enough. Click the link below to learn how you can course-correct in your financial life and let me know if you have any questions.
Learn More
How to Handle Volatility
During the typical economic cycle, we have to expect market fluctuation. There are many ways to handle market volatility in your portfolio. Click the link below to learn more.
Learn More
Planning for a Baby
Having a child is a significant change in any family's financial life. Click the link below to get started.
Learn More
Giving the Gift of Education
Saving for the education of a loved one is one of the most meaningful financial goals my clients have. Click the link below to get started.
Learn More
Tax-Smart Strategies for Your Retirement
Taking into account the tax implications of your retirement plan is a crucial step that clients miss. Click the link below to learn more about the tax implications of different retirement plans.
Learn MoreInvestor Tools and Resources
Morgan Stanley's suite of Modern Wealth Management Tools allows advisors to offer more customized and comprehensive advice than anywhere else. These tools' ease of use allows for a more in-depth view of a client's financial life to be taken, resulting in better service and more well-rounded advice.
Morgan Stanley seeks to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future, and why.
Morgan Stanley seeks to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future, and why.
Morgan Stanley Online (MSO)
Allows you to conveniently and securely manage your account online or on your mobile device. With MSO, you have access to:
- E-Authorization, where you no longer need to sign a paper Letter of Authorization (LOA) to authorize a wire transfer request.
- E-Sign, a digital, paperless alternative to the traditional means of obtaining signatures from clients on paperwork.
- Digital Vault, which allows you to build a central, shared document library where all documents are stored using encryption.
- E-Delivery, which allows you to securely save, print, send, and receive documents at any time from both Morgan Stanley Online and the Morgan Stanley Mobile App.
To learn more, and to log in click here- E-Authorization, where you no longer need to sign a paper Letter of Authorization (LOA) to authorize a wire transfer request.
- E-Sign, a digital, paperless alternative to the traditional means of obtaining signatures from clients on paperwork.
- Digital Vault, which allows you to build a central, shared document library where all documents are stored using encryption.
- E-Delivery, which allows you to securely save, print, send, and receive documents at any time from both Morgan Stanley Online and the Morgan Stanley Mobile App.
Morgan Stanley Mobile App
Access your account wherever, whenever using the Morgan Stanley Mobile App. It gives you the same capabilities as Morgan Stanley Online from the convenience of your phone.
To learn about the mobile capabilities and how to get the app, click here
Total Wealth View
The ability to view all of your assets and liabilities together, whether held at Morgan Stanley or elsewhere, enables us to advise with your entire financial picture in mind.
To learn more, click here
Goals Planning System
GPS helps clients define what they want out of life, and then creates a financial framework to bring these goals to life.
To learn more, watch this video
The Morgan Stanley Minute
Explore our 1-minute investment insights videos, in this on-going series, from our firm’s leading thinkers. Discover current investment trends and topics like green bonds, active investment, monetizing small businesses, cybercrime and more.
The Morgan Stanley MinuteGlobal Investment Committee Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
GIC Weekly ReportLocation
1787 Sentry Pky W
Bldg 18 Ste 440
Blue Bell, PA 19422
US
Direct:
(215) 854-6041(215) 854-6041
Toll-Free:
(800) 233-1414(800) 233-1414
Fax:
(215) 854-6125(215) 854-6125
1650 Market Street
42nd Floor
Philadelphia, PA 19103
US
Direct:
(215) 854-6041(215) 854-6041
Awards and Recognition
Five Star Wealth Advisor
This award was issued in 2025 based on the evaluation process below. This evaluation was conducted by Five Star Professional (FSP) for the period from 02/13/2024 through 08/30/2024 that considered, among other factors, the following: • Favorable regulatory and complaint history review. As defined by FSP, the wealth manager has not: 1.) Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; 2.) Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed, or denied complaints with any regulatory authority or FSP's consumer complaint process. • Personal bankruptcy filing within the past 11 years. • Termination from a financial services firm within the past 11 years. • Conviction of a felony. • One-year client retention rate. • Five-year client retention rate.
Five Star Professional, as a third-party research firm, identified pre-qualified award candidates based on industry data and contacted all identified broker dealers, Registered Investment Advisor firms and FINRA-registered representatives to gather wealth manager nominations. Self-nominations are not accepted. Wealth managers and/or their firms do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers.
For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com. ©2022 Morgan Stanley Smith Barney LLC. Member SIPC
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
Adrian Schwartz, CFP®
Financial Planning Director, Vice President
Lorraine Blevins
Vice President, Taxable Fixed Income Sales
Liz Milonas
Vice President, Municipal Sales
About Lorry Rosado
Lorry Rosado is a Private Banker serving Morgan Stanley Wealth Management offices in New Jersey and Pennsylvania.
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.
Lorry began her career in financial services in 1984 and joined Morgan Stanley in 2017. Prior to joining the firm, she was a Banking Advisor at Merrill Lynch, as well as a Senior Premier Client Manager at Bank of America.
Lorry lives in East Brunswick, NJ with her family. Outside of the office, Lorry volunteers as a Coach for the Fast Break Basketball Buddy Ball program, focused on providing an opportunity for disabled children and young adults to enjoy the game of basketball. In her free time, she enjoys spending time with family.
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.
Lorry began her career in financial services in 1984 and joined Morgan Stanley in 2017. Prior to joining the firm, she was a Banking Advisor at Merrill Lynch, as well as a Senior Premier Client Manager at Bank of America.
Lorry lives in East Brunswick, NJ with her family. Outside of the office, Lorry volunteers as a Coach for the Fast Break Basketball Buddy Ball program, focused on providing an opportunity for disabled children and young adults to enjoy the game of basketball. In her free time, she enjoys spending time with family.
NMLS#: 644450
About Adrian Schwartz
Adrian Schwartz is a vice president and financial planning director, serving Morgan Stanley’s Wealth Management offices in the Greater Philadelphia and Coastal New Jersey markets. He is responsible for helping financial advisors with their clients’ and prospects’ financial planning needs.
Adrian began his career in financial services in 2011 and joined Morgan Stanley in 2021. Prior to his current position, Adrian worked at TD Ameritrade in New York with some of the firm’s wealthiest clients in the region and managed two branches.
Adrian graduated from Rutgers Business School with an MBA and holds his CERTIFIED FINANCIAL PLANNER™ designation. Adrian lives in Manalapan, NJ with his wife and two young children. Outside of work, Adrian spends most of his time with his family. When the opportunity presents itself, he also enjoys playing guitar and golfing.
Adrian began his career in financial services in 2011 and joined Morgan Stanley in 2021. Prior to his current position, Adrian worked at TD Ameritrade in New York with some of the firm’s wealthiest clients in the region and managed two branches.
Adrian graduated from Rutgers Business School with an MBA and holds his CERTIFIED FINANCIAL PLANNER™ designation. Adrian lives in Manalapan, NJ with his wife and two young children. Outside of work, Adrian spends most of his time with his family. When the opportunity presents itself, he also enjoys playing guitar and golfing.
About Lorraine Blevins
Lorraine Blevins, Vice President, Taxable Fixed Income Sales, has been a dedicated member of Morgan Stanley since 1996, specializing in fixed income sales within the Wealth Management Investment Solutions division. She received her Bachelor of Science in Finance from Rutgers University and is a lifelong member of the international honor society Beta Gamma Sigma. Lorraine serves as a key liaison between financial advisors and traders. Throughout her tenure, she has developed subject matter expertise across a broad range of taxable products. In addition, she provides guidance on bond sales, portfolio reviews, customized investment proposals, delivering tailored fixed income solutions to meet clients’ needs.
Originally from Scotland, Lorraine has made the USA her home. She is a devoted mother to two teenagers and enjoys spending the summer months on the water, sailing and jet skiing, after obtaining her boating license.
Originally from Scotland, Lorraine has made the USA her home. She is a devoted mother to two teenagers and enjoys spending the summer months on the water, sailing and jet skiing, after obtaining her boating license.
About Liz Milonas
Liz Milonas, Vice President, Municipal Sales, joined The Firm in July 2016. In her current position, she is responsible for delivering The Firm’s strategy and commentary, providing timely market updates, and communicating actionable trade ideas specifically tailored to UHNW investors. Liz is the lead brokerage municipal sales coverage for the Midwest and Heartland Regions (OK, MO, OK, AR, NE, IA, ND, SD, MN, WI), Greater Illinois, and Pennsylvania.
Prior to joining the municipal sales team in 2022, Liz held various roles at Morgan Stanley. Most recently she was the trading assistant on the institutional municipal securities desk where she helped book trades and facilitate trade flow to correctly show profit and loss.
Liz holds a B.A. in Political Science with a Minor in International Business from Loyola University Maryland, and holds the SIE, Series 7, Series 66 and Series 52 licenses. Outside of work, she enjoys cooking and baking, practicing yoga, and travelling with her fiancé Connor.
Prior to joining the municipal sales team in 2022, Liz held various roles at Morgan Stanley. Most recently she was the trading assistant on the institutional municipal securities desk where she helped book trades and facilitate trade flow to correctly show profit and loss.
Liz holds a B.A. in Political Science with a Minor in International Business from Loyola University Maryland, and holds the SIE, Series 7, Series 66 and Series 52 licenses. Outside of work, she enjoys cooking and baking, practicing yoga, and travelling with her fiancé Connor.
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
Morgan Stanley Wealth Management Fixed Income Sales and Product Professionals provide services to Morgan Stanley Wealth Management Financial Advisors for information purposes only. They do not provide recommendations or solicitations to participate in any offer or sale of a security or trading strategy. It is the responsibility of the Morgan Stanley Wealth Management Financial Advisor to take into account the client's circumstances, investment objectives and risk tolerance before offering or selling securities to a client, to ensure such offer or sale is appropriate and consistent with the applicable standard of care.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
Morgan Stanley Wealth Management Fixed Income Sales and Product Professionals provide services to Morgan Stanley Wealth Management Financial Advisors for information purposes only. They do not provide recommendations or solicitations to participate in any offer or sale of a security or trading strategy. It is the responsibility of the Morgan Stanley Wealth Management Financial Advisor to take into account the client's circumstances, investment objectives and risk tolerance before offering or selling securities to a client, to ensure such offer or sale is appropriate and consistent with the applicable standard of care.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Ready to start a conversation? Contact Steve Schaeffer today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
3Alternative 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.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Morgan 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.
6Morgan 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.
7Morgan 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
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.
9Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
10Morgan 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.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12When 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.
13When 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
3Alternative 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.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Morgan 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.
6Morgan 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.
7Morgan 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
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.
9Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
10Morgan 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.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12When 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.
13When 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.
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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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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025), 4763067 (9/2025)
