Our Story

The 1290 Discovery Group at Morgan Stanley Wealth Management is an accomplished team that seeks to provide select families with an exceptional wealth management experience built around a first-class discovery process.  We employ a client centric, solutions-based process that captures the life events of our clients so that we can meet all of their wealth management needs in a highly personalized fashion.
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In The Press

Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period from 3/31/23-3/31/24.
The 1290 Discovery Group Named to Forbes Magazine's List of Best-In-State Wealth Management Teams for 2025
2024 Forbes America’s Top Wealth Advisors & Best-In-State Wealth Advisors

Source: Forbes.com (April 2024) 2024 Forbes America’s Top Wealth Advisors and Best-In- State Wealth Advisors rankings awarded in 2024. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) for the period from 6/30/22-6/30/23.
Craig R. DeMaio Named to Forbes Magazine’s America’s Top Wealth Advisors
2024 Forbes America’s Top Wealth Advisors & Best-In-State Wealth Advisors

Source: Forbes.com (April 2024) 2024 Forbes America’s Top Wealth Advisors and Best-In- State Wealth Advisors rankings awarded in 2024. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) for the period from 6/30/22-6/30/23.
Scott J. Franklin Named to Forbes Magazine’s America’s Top Wealth Advisors
Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2024) Data compiled by SHOOK Research LLC based for the period from 3/31/22-3/31/23.
The 1290 Discovery Group Named to Forbes Magazine's List of Best-In-State Wealth Management Teams for 2024
Source: Forbes.com (April 2023) Forbes America’s Top Wealth Advisors and Best-In- State Wealth Advisors rankings awarded in 2023. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) during the period from 6/30/21 - 6/30/22.
Craig R. DeMaio Named to Forbes Magazine’s List of Best-in-State Wealth Advisors
Source: Forbes.com (April 2023) Forbes America’s Top Wealth Advisors and Best-In- State Wealth Advisors rankings awarded in 2023. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) during the period from 6/30/21 - 6/30/22.
Scott J. Franklin Named to Forbes Magazine’s List of Best-in-State Wealth Advisors
Forbes America’s Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023) Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/22.
The 1290 Discovery Group named to Forbes Best-In-State Wealth Management Teams 2023
"​Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded Apr 2022) Data compiled by SHOOK Research LLC based on time period from 6/30/20 - 6/30/21. "
Craig R. DeMaio Named to Forbes Magazine's list of Best -in-State Wealth Advisors
"Forbes Best-In-State Wealth Advisors
​Source: Forbes.com (Awarded Feb 2021) Data compiled by SHOOK Research LLC based on time period from 6/30/19 - 6/30/20. "
Scott J. Franklin Named to Forbes Magazine's 2021 List of Best-in-State Wealth Advisors
Craig R. DeMaio Promoted to Executive Director
1290 Discovery Group Featured in Worth Magazine
Craig R. DeMaio Receives Family Wealth Director Designation
Craig R. DeMaio featured in New Haven Register
Craig R. DeMaio featured in Westchester / Fairfield Business Journal
Craig R. DeMaio featured in Westchester / Fairfield Business Journal
Scott J. Franklin's Letter to the Editor - Brooklyn Paper
Scott J. Franklin featured in New York City Publication
Scott J. Franklin Receives Family Wealth Director Designation
Craig R. DeMaio featured in The Stamford Advocate
Scott J. Franklin Earns Prestigious Certified Investment Management Analyst. Certification
Craig R. DeMaio Earns Prestigious Certified Investment Management Analyst. Certification

Morgan Stanley Reserved Living & Giving

Clients with $1 million+ in assets and liabilities at Morgan Stanley are eligible to enroll in the Reserved Living & Giving program. As a Reserved member, clients will have access to exclusive partner offers and discounts, as well as thought leadership content on a variety of lifestyle and personal finance topics.
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    Exclusive offers to keep Reserved clients and their families safe and engaged. Offers span across such categories as Dining, Health, & Wellness, Travel, Entertainment, and more.
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    Curated insights and articles spanning such topics as Family, Lifestyle, Health & Planning, Travel, and Giving Back
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    Signature Access
    Signature Access, the highest tier of Morgan Stanley's complimentary loyalty program Reserved Living & Giving, gives clients with $10 million or more in assets at the firm access to world class services such as Private Health Advisory, Personal Cybersecurity Services, Aircraft Management and more in addition to all the discounts and content available through Reserved Living & Giving.
    Signature Access

Our Valued Clients

    Managing Wealth, Making a Difference
    Our family wealth practice is built on the development of deep and enduring relationships and the delivery of comprehensive wealth management services.

    We work with a broad range of clients who value and respect the advice and guidance we carefully craft to help them achieve their personal and professional goals.

    These goals often involve life-changing events, such as:

    • Starting a family
    • A new job or career change
    • Planning for and enjoying retirement
    • Relocating from another city or state
    • The sale of a business
    • A divorce or loss of a spouse
    • A large inheritance

    We also help our clients:

    • Minimize taxes
    • Optimize investment performance
    • Manage risk and provide family protection
    • Finance a major acquisition
    • Achieve long-term philanthropic goals
    • Pass wealth to the next generation effectively
    Our Clients Include:
    • Successful individuals and multiple generations of families

    • Professionals in the healthcare, legal, technology and financial fields

    • Business owners and entrepreneurs

    • Women seeking guidance for themselves and their families

    • Individuals faced with a major life event, such as a divorce, loss of a spouse or an inheritance

    • Referrals from existing clients and industry professionals

    While each client has unique goals and circumstances, they all have one thing in common: The desire to simplify their financial lives and develop an integrated strategy to preserve and grow their wealth.

Resources For Select Investors

You may have heard the urban legend that our loved ones die twice - once when they pass away and once when they are forgotten. It is up to us to promote the legacy of our ancestors when they are no longer here to do it themselves. Their hard work, love, and value to posterity is something that is worth reciprocating. In following their example, we not only trace their footsteps, but also blaze our own trail.

Morgan Stanley offers a plethora of tools that can help solidify your family legacy - past, present, and future:
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    Art Resources Team (ART)
    Morgan Stanley has an Art Resources Team (ART), which has the goal of showing clients how they can address the unique challenges of art as an asset and create bespoke solutions for every client and collection. The team has recently begun the publication of a newsletter, with the goal of keeping readers up-to-date on the connections between art and the markets.
    ART at Morgan Stanley
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    Family Office Resources
    Reflecting on how the most successful families create and maintain enduring legacies across multiple generations, Morgan Stanley Family Office Resources (FOR) is structured to help clients define a guiding vision, translate that vision into effective strategies and implement those strategies by calling on the tactical knowledge of experienced professionals. Accessed by Morgan Stanley advisors through UHNW Client Specialists, our capabilities span three complementary areas of focus: Governance & Legacy, Wealth Strategies and Signature Access.
    Learn more about Family Office Resources
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    Philanthropy
    The Morgan Stanley GIFT Cures program was established to provide an opportunity for philanthropists to combine their resources to magnify the impact of their medically related giving, whether they wish to focus on a specific disease or donate across a broader spectrum. It is an opportunity for donors interested in becoming part of a donor community, learning about best practices in giving to drug research and discovering the issues related to bringing drug therapies to market.
    Click here to learn more
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    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
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    Financial Planning
    Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our award winning tools- Goals Planning System (GPS) and LifeView.
    Morgan Stanley Goals-Based Wealth Management
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    Total Tax 365
    Taxes can be a substantial drag on investment returns. Morgan Stanley Total Tax 365 offers access to a broad range of tax-efficient strategies to help you integrate tax planning into your investment process all year long, maximize portfolio after-tax return potential and help keep more of what you earn.
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    Security Center
    Learn about our latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
    Visit our Security Center
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    Digital Vault
    Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
    Get Started Today
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    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.
    Personal Cybersecurity Checklist
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    What To Do If You Think You've Been Hacked
    Know the steps to take if and when your identity, accounts, devices or information is compromised.
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WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

Our mission is to help your company elevate your workplace financial benefits—helping you to attract and retain top talent. Our end-to-end solutions support your company and employees at any stage of growth through a powerful combination of modern technology, insightful guidance, and dedicated service.

    Equity Solutions

    Equity ownership is a powerful motivator. Streamline equity management through our leading-edge technology and provide global audit-ready reporting and insights, alongside customizable participant experiences to engage and educate your employees on how to make the most of their benefits. Our global solutions support private and public companies at any stage of growth.

    • Equity Administration and Financial Reporting
    • Liquidity Events
    • 409A Valuation Services and Cap Table Management

    Learn more
    Retirement

    For your employees, retirement is more than a date in the future—it's a milestone that takes time, hard work, and the right tools. Through our consultative process, we strive to assist with the management of your fiduciary responsibilities and risk, simplify plan management, and help you improve retirement readiness for your employees.

    • Defined Contribution Consulting
    • Solutions-Oriented Plans
    • Fiduciary Investment Oversight

    Learn more
    Deferred Compensation

    Access a range of Nonqualified Deferred Compensation plan services or pick the ones that best fit your needs. We provide recordkeeping and plan design, portfolio construction services, and plan education for your executive talent. We help you determine the appropriate plan design and inform a funding strategy through a needs-based assessment and consultative approach.

    Services include:

    • Recordkeeping and Plan Design
    • Portfolio Construction
    • Wealth Management Services
    Learn more
    Executive Services

    Our dedicated team provides concierge-level support for your executives' equity compensation plans, from 10b5-1 trading plans to form filing related to Rule 144 transactions, to access to wealth management and tax-optimization strategies, so helping them navigate their complex financial needs with greater confidence and certainty:

    • Equity Compensation Services
    • Equity Award Analysis
    • Specialized Solutions
    Learn more
    Saving and Giving

    Saving and Giving benefits can make a real difference in your employees' lives as they can support the things that matter most to them—like saving for education and repaying student loans. Show that you are committed to your employees' priorities with leading-edge solutions that help them chart a path toward financial well-being.

    • College Savings
    • Student Loan Repayment and Refinancing
    • Charitable Giving
    Learn more
    Financial Wellness

    We offer Financial Wellness with every solution we provide. Through a powerful combination of education, digital tools and guidance, Financial Wellness is designed to address the unique needs of your employees and empower their financial journey at every stage. Give your employees the confidence to take charge of their finances.

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

Location

55 East 52nd Street 10th
14th Fl
New York, NY 10055
US
Direct:
(212) 893-7686(212) 893-7686

Meet The 1290 Discovery Group

Photo of Maria Vitale

Maria Vitale

Vice President, Business Development Director
Phone:
(212) 893-7686(212) 893-7686
Photo of Shu F. Wu

Shu F. Wu

Portfolio Associate
Phone:
(212) 893-7603(212) 893-7603
Photo of Angelina Moccia

Angelina Moccia

Registered Client Service Associate
Phone:
(212) 705-4541(212) 705-4541
Photo of Andre Woods

Andre Woods

Registered Client Service Associate
Phone:
(212) 893-7632(212) 893-7632
Photo of Quinn Geller

Quinn Geller

Wealth Management Intern
Phone:
(212) 893-7685(212) 893-7685

About Scott J. Franklin

Scott J. Franklin is a Managing Director, Family Wealth Director and Financial Advisor with over 25 years of diversified financial experience. As a Family Wealth Director, Scott is part of a highly trained group serving an elite clientele. About 5% of Morgan Stanley Financial Advisors hold this coveted designation as of December 2023.

His career in finance included a position at Credit Lyonnais where he operated a $1 Billion Commercial Paper Program. Additionally, Scott worked at Deloitte & Touche LLP where he was a Senior Consultant/Auditor with a concentration in Financial Institutions.

Scott earned his Certified Public Accountant (CPA) - Passed Certified Public Accountant Examination - State of New York (currently non-practicing). He has also achieved the designation of Certified Investment Management Analyst® (CIMA®) through the University of Pennsylvania’s Wharton School of Business.

Scott has been appointed the titles of Senior Portfolio Management Director and Senior Investment Management Consultant. Since 2012, he has been a member of Morgan Stanley's prestigious President's Club, an elite group composed of the firm's leading Financial Advisors, most recently in 2023. In 2016, Scott was recognized as a 2016 Five Star Wealth Manager in New York City. From 2019-2024, Scott was named by Forbes as one of New York's top Financial Advisors.

Scott enjoys assisting with charitable causes related to animals. He has donated a significant amount of time as a Pet Partner Team within the Pet Therapy Program at Morgan Stanley's Children's Hospital.

Tel: 212-893-7684
Fax: 646-553-4666
Scott.Franklin@MorganStanley.com
CA Insurance License #: 0H69493
NMLS: 1261995

2019 - 2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019 - 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.

Five Star Wealth Advisor Award
This award was issued in [2016]. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from November 1, 2015 through October 30, 2016

https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: AL, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NJ, NM, NV, NY, OH, OR, PA, PR, RI, SC, TX, UT, VA, VI, VT, WA, WI, AZ, TN, AK; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1261995
CA Insurance License #: 0H69493

About Craig R. DeMaio

Craig R. DeMaio is a Executive Director, Family Wealth Director and Wealth Advisor with over 23 years of diversified financial experience. As a Family Wealth Director, Craig is part of a highly trained group serving an elite clientele. About 5% of Morgan Stanley Financial Advisors hold this coveted designation as of December 2023.

Craig has been providing select high net worth individuals and families with customized investment management and wealth planning solutions since 1997. He has demonstrated success working with current and former executives in the Financial Services Industry; however, his practice extends to individuals across all industries and professions. Prior to joining Morgan Stanley in 2009, Craig served as Vice President/Financial Advisor for twelve years at Merrill Lynch where he developed his comprehensive, client-centric approach to financial planning.

He has spent his entire career in wealth management and has extensive experience with trust and estate planning strategies, multi-generational transfers, life insurance, long-term care planning, growth-oriented equity strategies, alternative investments, structured products, corporate executive benefit plans and tax-efficient strategies. As one of the founding partners of the 1290 Discovery Group, Craig prides himself on getting to know his clients on a highly personal level to anticipate their evolving needs and plan accordingly.

Craig has earned the designation of Certified Investment Management Analyst® (CIMA®) through the University of Pennsylvania’s Wharton School of Business. He has been a member of Morgan Stanley Wealth Management's prestigious Master's Club, which recognizes the firm's top producers, for the last seven years, most recently in 2024. Additionally, he has earned the designated "Portfolio Management Director" and "Senior Investment Management Consultant" titles. Craig was named by Forbes as one of New York's top Financial Advisors - a recipient of the Forbes Best-In-State Wealth Advisor award.


2022 - 2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2022 - 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.

Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: MA, ME, MI, MN, MO, MS, NC, NH, NJ, NM, NV, NY, OH, OR, PA, PR, RI, SC, TN, TX, VA, VI, VT, WA, WI, MD, AK, AL, AZ, CA, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, KY, LA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1312637
CA Insurance License #: 0E41522

About Maria Vitale

Maria is a Vice President, Business Development Director with the 1290 Discovery Group. Maria has over 20 years of financial industry experience and currently holds the Series 7, 63 and 65 registrations. Maria attended The College of St. Elizabeth in Morristown, New Jersey and earned a B.S. degree in Business Administration. She lives in New Jersey, loves dogs and enjoys music, theater, cooking and traveling.

About Shu F. Wu

Shu is a Registered Client Service Associate with over 20 years of financial industry experience. Prior to joining the 1290 Discovery Group, she was an Investor Services Associate with Morgan Stanley Investment Management. She currently holds the Series 7, 63 and 65 registrations. Shu received a B.S. in Finance from The State University of New York College at Old Westbury. She lives in Rego Park, New York with her family and enjoys traveling, hiking and snowboarding.

About Angelina Moccia

Angelina is a client service associate who joined with Morgan Stanley in June of 2022. Angelina received a B.S. in Finance from the Gabelli school of business at Fordham university. She currently lives in Long Beach, New York with her dog Ash and enjoys fishing and traveling!

About Andre Woods

Andre is a Registered Client Service Associate with 6 years experience in the financial industry. He joined Morgan Stanley 3 years ago in the flagship Seattle office, where he worked in branch operations. In 2024, Andre moved to New York to join the 1290 Discovery Group. He is from the Greater Seattle area and obtained a Bachelor’s in Politics, Philosophy, & Economics from the University of Washington. He and his wife, Eva, live in Astoria, Queens with their 1 cat. He enjoys good food, traveling, jazz music, and reading the Wall Street Journal.

About Quinn Geller

Quinn is an intern who joined the 1290 Discovery Group for summer 2024. She is a rising senior at The New School getting her BA in Economics from Eugene Lang College of Liberal Arts as well her BFA in Fine Arts from Parsons School of Design. Quinn lives in Williamsburg, Brooklyn and enjoys watching sports, dogs, museums, and spending time with her family.
Wealth Management
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Equity Compensation

Helping you make the most of your equity awards and better understand how it may fit into your your larger financial picture – today and tomorrow.

  • Vesting events
  • Option expirations
  • Restricted stock units
  • Tax implications

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
Learn More about Retirement
4 Financially Smart Ways to Take Money Out of Retirement Accounts
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4 Financially Smart Ways to Take Money Out of Retirement Accounts

Discover how planning for required minimum distributions from retirement accounts can help you fund future needs and support loved ones.

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
Learn More about Investing
2025 Global Economic Outlook: U.S. Policies May Temper Global Growth
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2025 Global Economic Outlook: U.S. Policies May Temper Global Growth

Global growth is likely to be around 3% in 2025 and 2026, as tariff and immigration policies begin to slow the U.S. economy late next year, and China's underperformance restrains emerging markets.

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
Learn More about Family
Taking Control of Your Finances After Death of a Spouse
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Taking Control of Your Finances After Death of a Spouse

Financial planning after a divorce or death can be trying, but with the right approach and the right advice you can turn a difficult situation into empowerment.

Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Qualified Retirement Plans
Learn More about Business Planning
Financial Planning for Life After Selling a Business
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Financial Planning for Life After Selling a Business

Selling your business can mean big changes for your life, both personally and financially. Know how to make the most of your windfall.

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
Learn More about Philanthropy
Donor Advised Funds: A Smart Way to Manage Your Giving 
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Donor Advised Funds: A Smart Way to Manage Your Giving 

There’s more to charitable giving than you may realize. Here’s one method that may be a tax-efficient way to give and can help maximize your impact.

Financial Wellness

Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
  • Reduce employee stress,
  • Improve retention and engagement, and
  • Set themselves apart by offering comprehensive financial wellness benefits.
Learn More about Financial Wellness
The Business Case for a Financially Resilient Workforce
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The Business Case for a Financially Resilient Workforce

In the face of turbulent markets, the word “resilience” may be top of mind. Broadly speaking, resilience is the ability to “bounce back” when encountering life’s inevitable challenges.

Mosaic

Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
Learn More about Mosaic
A Change of Greenery
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A Change of Greenery

Houseplants add oxygen, flair, and warmth year-round, and the right one in the right space can do just as much for a room as any painting or side table.
Ready to start a conversation? Contact The 1290 Discovery Group today.
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1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.

For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.

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2Morgan 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.

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3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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5Alternative 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.

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7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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8Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.

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9Morgan 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.

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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.

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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.

The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.

*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.

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Awards Disclosures
CRC 6491812 (04/2024)