Our Story and Services

As the Irvine based team of Morgan Stanley Wealth Management, we work with affluent families like you and businesses from across the country. Our clients are a dynamic group of people who have built and led successful companies and created significant wealth in the process. Our goal is to help you create, implement and maintain highly customized investment strategies to protect your assets, support the lifestyles you enjoy and leave enduring legacies for future generations.

We combine our individual talents into a cohesive team focused on your success. Drawing upon our own experience and the vast global resources of Morgan Stanley, we deliver comprehensive wealth management capabilities, provide an exceptional level of service and dedicate ourselves to help achieve your goals.

We focus primarily on high net worth families with diverse financial resources, so we can provide each client with the highest levels of service tailored to their specific needs and goals.

For 30 years, we have helped successful entrepreneurs and executives create tax-efficient strategies to manage concentrated equity positions, manage risk and transfer wealth to younger generations by following a disciplined approach to investing by focusing on quality, liquidity, and year-over-year growth.

Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Associations
  • Talk About Curing Autism "TACA" - Current Board Member
  • Corona Del Mar Middle and High School Booster Club - Past Board Member
  • Newport Beach Little League - Past Board Member
  • The Child Abuse Prevention Center - Past Board Member
Honors
  • Director's Council Morgan Stanley

The CFP® Professional

Individuals certified by the CFP® Board have taken the extra step to demonstrate commitment and professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience, and ethical requirements. These four cornerstones set the foundation for the CFP® professional’s ability in helping clients achieve their goals.
Education
The CFP® professional must develop theoretical and practical financial planning knowledge by completing 2 to 3 years of comprehensive coursework at an institution of higher learning approved by the CFP® Board. Once obtaining the CFP® trademark, their education does not stop, as continued education is part of the re-certification process.
Examination
The CFP® professional must pass the 7 hour comprehensive Certification Exam, which tests abilities to apply financial planning knowledge to real-life situations. The exam covers the financial planning process, tax planning, employee benefits and retirement planning, estate planning, investment management and insurance.
Experience
All CFP® professionals are required to complete several years of experience related to financial planning services prior to earning the right to use the CFP® trademarks.
Ethics
The CFP® professional is obligated to uphold the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence as outline in the CFP® Board’s Code of Ethics. The Rules of Conduct require the CFP® professional to put the client’s interest first at all times.

Location

1901 Main Street
Ste 700
Irvine, CA 92614
US
Direct:
(949) 955-7500(949) 955-7500
Toll-Free:
(800) 533-3402(800) 533-3402
Fax:
(949) 756-8908(949) 756-8908

Meet The Banning Feibleman Group

About Bryan K Banning

Raised in Denver, Colorado, from an early age Keith knew he wanted to be a professional baseball player. When he was unable to hit a slider, however, he fell back to his love of investing. He graduated from the University of Northern Colorado in 1985 with a degree in finance and began his career in financial services with EF Hutton. Shortly after starting his career as a financial advisor, the market experienced “Black Monday” when the Dow Jones Industrial Average dropped 508 points or 22.6% of its total value. At that time, it was the biggest percentage drop ever recorded for a single day. Despite that historic day in the market, Keith continued with a firm commitment to his clients and their goals, which has led to a thriving wealth management practice.

Now, as an investment professional with over 36 years’ experience and a Certified Financial Planner™, Keith Banning is still firmly committed to providing families and businesses comprehensive financial advice by carefully listening to each client’s individual goals, values, aspirations, and concerns. His approach is to provide clients with an understanding of the current economic environment so that they are informed and empowered when making a decision that affects their family and/or business. By utilizing the full intellectual capital of Morgan Stanley, he strives to educate and guide his clients in the areas of cash management, portfolio management, lending solutions, estate and philanthropic planning strategies. He works closely with his clients to create a comprehensive financial plan. Then, and only then, does he implement a wealth management strategy that addresses cash management, retirement planning, comprehensive estate planning, tax-minimization strategies, and if applicable, business succession planning.

As a Portfolio Management Director and Managing Director with Morgan Stanley Wealth Management, he focused his energy to meet the ever changing needs of his clients and obtained the title of Family Wealth Director and Global Sports and Entertainment Director sponsored by Morgan Stanley’s Global Wealth Management. These exclusive designations are granted to those Financial Advisors who have successfully completed a rigorous accreditation program focused on skills required for comprehensive wealth management across a range of disciplines important to the unique circumstances of wealthy individuals.

When not working, Keith enjoys spending time with his wife, Denise and sons, Ryan and Benjamin. They enjoy traveling, golf and spending time playing with their Goldador dog named Bear.
Securities Agent: KS, FL, DE, CT, OR, AL, NY, IA, GA, AZ, RI, IL, TN, NC, ID, AR, WY, TX, SC, PA, NM, NE, MD, HI, NV, NJ, MA, KY, WA, SD, LA, CA, VA, UT, MO, IN, DC, CO, WI, OK, OH, MT, MI; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1312836
CA Insurance License #: 0A26085

About Peter M Feibleman

Peter Feibleman is a Senior Vice President and Senior Portfolio Management Director with Morgan Stanley and a founding member of the Banning Feibleman Group. Based in Irvine, Calif, he has more than four decades of experience in financial services, all with Morgan Stanley and predecessor firms of the company.

Peter has firmly established a stellar reputation for building and managing fixed-income and equity portfolios for a wide range of investors, especially those close to retirement and those already enjoying their leisure years. He has over 40 years experience managing portfolios through many interest rate cycles.

In those early years, Peter discovered that he could not only help investors generate income by laddering bonds but also help realize appreciation as the Federal Reserve lowered interest rates to fight inflation.

As his career progressed, Peter incorporated stocks into his repertoire, which continues to this day. Since Keith Banning – the other founding member of the Group – focuses most of his time on researching and recommending equities, the Group offers clients a great depth of knowledge in the two main areas of investing: stocks and bonds.

Peter holds a Bachelor of Arts degree in finance from the University of Oregon. He is married with two children. His son, Sean, is a member of the Banning Feibleman Group. Peter’s daughter Heather works as a media analyst. His wife, Leslie, is the Director of Special Programs and Community Cinema at the Newport Beach Film Festival and is co-creator and curator of the Cinema Orange film series at the Orange County Museum of Art.

Peter’s hobbies include skiing, stand-up paddle boarding and playing the guitar. In his youth, he aspired to be a rock star but traded that dream for following the markets. He’s also a voracious reader. On any given day, you will find him browsing through any number of publications, mainly The Wall Street Journal, Barron’s, The New York Times and the Los Angeles Times, in his never-ending search for prudent ways to help his clients.


Diversification does not guarantee a profit or protect against loss in a declining financial market.

Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally the longer a bond's maturity, the more sensitive it is to this risk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to changes in market conditions or changes in the credit quality of the issuer. Bonds are subject to the credit risk of the issuer. This is the risk that the issuer might be unable to make interest and/or principal payments on a timely basis. Bonds are also subject to reinvestment risk, which is the risk that principal and/or interest payments from a given investment may be reinvested at a lower interest rate.

The investments listed may not be appropriate for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment will depend upon an investor's individual circumstances and objectives.
Securities Agent: IN, DE, CT, SD, ID, VA, NJ, GA, AL, UT, NC, MO, IL, IA, CA, HI, PA, OR, MD, NY, AR, WA, OH, NV, NE, KS, TN, MI, CO, TX, RI, NM, MT, DC, WY, KY, FL, AZ, WI, OK, SC, MA, LA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1321605
CA Insurance License #: 0A30689

About Ryan Banning

Ryan Banning is a Certified Financial Planner, Associate Vice President, and Financial Advisor with Morgan Stanley in Irvine, California. He is an integral part of The Banning Feibleman Group, a financial advisory team serving a wide range of individuals, businesses and institutions.

Well-versed in the financial markets and deeply committed to his clients, Ryan is highly adept at providing sound advice to investors and delivering the highest level of service and support every business day.

Finance has been a part of Ryan’s life for as long as he can remember. His father, Keith, a senior Financial Advisor of The Banning Feibleman Group, often brought his work home with him when Ryan was growing up.

“He was always very passionate about managing wealth, a trait he passed on to me,” Ryan recalls. “Like him, I awake early every day to read The Wall Street Journal and sift through reports that can make me a better investor for our clients.”

Instead of using third-party managers to invest client assets, The Banning Feibleman Group relies on its experience at creating comprehensive financial plans, selecting individual securities for investment and managing diversified portfolios for clients.

The other half of the Banning Feibleman Group consists of another father-son combination: Peter Feibleman and his son, Sean. Peter and Keith Banning have been working together for over 35 years.

Ryan is a graduate of Boston College. In his free time, he enjoys being with friends, family and his faithful dog Bear, a Labrador Retriever. He also likes playing basketball, attending sporting events and traveling.
Securities Agent: KS, IN, NC, AZ, LA, VA, TN, DC, SC, OR, NY, NE, GA, DE, WA, PA, MO, IA, WY, MD, MA, IL, CO, CA, RI, NV, NM, MT, KY, FL, SD, OK, OH, ID, HI, UT, CT, AR, AL, WI, TX, NJ, MI; General Securities Representative; Investment Advisor Representative
NMLS#: 1813946
CA Insurance License #: 0N02483

About Sean Feibleman

Securities Agent: MS, HI, MT, ID, AL, SC, OK, NC, IL, SD, RI, NJ, NH, MA, LA, FL, CT, AZ, WA, VA, MI, MD, KS, DC, TX, OR, IN, NY, NV, NE, KY, IA, CA, TN, PA, MO, WY, OH, NM, GA, DE, CO, WI, UT, AR, MN; General Securities Representative; Investment Advisor Representative
NMLS#: 2500420
CA Insurance License #: 4270874

About Sean Carlson

Sean Carlson is a Portfolio Management Associate with the Banning Feibleman Group at Morgan Stanley in Irvine, Calif. Widely respected for his uncompromising integrity and steadfast work ethic, he has more than 15 years of experience in financial services.

Sean provides a wide array of services to both financial advisors and clients. Among his many responsibilities, he offers financial advisors advice on trades and strategies and keeps clients well-informed about their accounts and answers any questions they may have.
“My distinct focus every day is to provide the maximum benefit to our clients,” Sean says. “I believe in spending as much time with them as needed to help them feel comfortable doing business with the Group.”

Sean has a broad understanding of the financial markets and the many tools financial advisors can use to be more helpful and valuable to their clients, including esoteric trading strategies intended to hedge portfolios or enhance income.

A consummate team player known for his reliability, Sean began his career at UBS in 2007 before joining Morgan Stanley in 2009. At Morgan Stanley, he has firmly established a solid reputation for his professional acumen and desire to exceed expectations.

Additionally, given his long tenure with the firm, he knows whom to call at a moment’s notice to maximize Morgan Stanley’s global resources and vast capabilities for financial advisors and clients. Additionally, he’s an excellent communicator, problem-solver and listener.

A California native, Sean is a 1997 graduate of Devry University, where he obtained a Bachelor of Science degree in Business Administration. In his free time, he enjoys spending time with family, traveling and coaching his son’s traveling baseball team. He loves baseball, having played first base and the outfield on a semi-professional team. In fact, he attributes his work ethic and integrity to what he learned on the field.
CA Insurance License #: 0G44771

About Patricia Yamada

Patricia Yamada is a Portfolio Associate with the Banning Feibleman Group at Morgan Stanley in Irvine, Calif. Known for her humility, tireless work ethic and unwavering desire to help people whenever possible, she has more than 18 years of experience in financial services.

Born and raised on Oahu, Hawaii, Patricia began her career making prospecting calls for UBS soon after graduating in 2004 from Gonzaga University, where she majored in Business Administration. A few months later, Morgan Stanley hired her as Client Service Associate, where she began to gain a deep understanding of the business.

Given her long tenure with Morgan Stanley, Patricia is highly adept at knowing whom to contact to get answers to any question in a timely and efficient manner. She has also cultivated long-established relationships with numerous colleagues at all levels of the firm.

As a Portfolio Associate, Patricia provides a wide array of high-quality services to both financial advisors and clients – from placing trades and recommending investment strategies, to keeping clients well-informed of the latest developments in their account.

“Whether I am dealing with Financial Advisors or clients,” she says, “I always have their best interest in mind.”

Patricia holds both the Series 7 and Series 66 license.

She is married to her husband, Kevin, a software engineer, and they have two beautiful children. Her hobbies include cooking, boxing and traveling. Each year she returns to visit her family in Oahu.

About Peggy Pinkerton

Peggy I. Pinkerton is a Registered Client Service Associate with The Banning Feibleman Group in Irvine, Calif. Known for her tireless work ethic, first-class service and exceptional communications skills, Peggy has more than three decades of experience in financial services. She has been with Morgan Stanley since August 2023.

Peggy is a keenly focused professional with a strong record of exceeding clients’ expectations because she works effectively and amicably with others, places immense importance on being well-organized and detail-oriented and is an excellent multi-tasker who thrives in a fast-paced, rapidly changing environment.

She has numerous certifications and licenses, frankly far too many to list in total. They include: Series 7 (General Securities Registered Representative), Series 8-9-10 (General Securities Sales Supervisor), Series 63 (Uniform Securities Agent State Law Exam) and Series 65 (Uniform Investment Advisor).

Prior to Morgan Stanley, Peggy was with Silversage Advisors, a specialty boutique firm, also located in Irvine. Among her many responsibilities there, she managed and cultivated strong relationships, coordinated client meetings and calls with the advisory team, provided perspective of the clients’ overall financial well-being and coordinated many client events.

Before joining Silversage, Peggy was a Senior Registered Private Wealth Associate with the Private Banking and Investment Group in Newport Beach, Calif., with Merrill Lynch, where she worked for over 17 years. She handled a broad range of compliance and administrative-related functions for investment managers who served individuals with $10 million or more in investable assets. Prior to this position, she worked at Merrill
Lynch offices in Beverly Hills and Denver.

“As a Private Wealth Associate, I organized and assisted with weekly investment meetings for some of the firm’s most valued clients,” she recalled. “I assisted with the administration and review of client portfolios and prepared quarterly reports and
investment recommendations that were presented to clients.”

Peggy is now leveraging her decades of industry experience to deliver an unparalleled level of high-quality service to clients of The Banning Feibleman Group. “I truly enjoy using my sales, administrative and motivational skills every day to make a meaningful difference wherever I can with our highly valued clientele,” she says.

In her free time, Peggy maintains an active lifestyle in the community by volunteering and serving several special causes and charities. She enjoys the arts and theater, hiking, cycling, and the outdoors as well as spending time with family and friends.
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
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
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
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
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
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.

Wealth Management for Athletes and Entertainers

Understanding the unique financial challenges of athletes and entertainers and how they differ from one profession to the next, we deliver the experience and resources you need to help create and implement a comprehensive, multigenerational wealth management plan based on your needs, values and aspirations.
  • Investment Management
  • Wealth Transfer & Philanthropy
  • Private Banking Solutions
  • Family Governance & Wealth Education
  • Lifestyle Advisory
You are your Own CEO: Build a Dream Team for Your Career
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You are your Own CEO: Build a Dream Team for Your Career

Assembling a team of trusted professionals to manage your career—and your money—is essential to help best position you to thrive. Here’s how.

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.
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.
Ready to start a conversation? Contact The Banning Feibleman Group today.
Market Information Delayed 20 Minutes
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 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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2When 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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3Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.

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4Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.

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5Morgan 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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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.

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7Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
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 and other legal matters.

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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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9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.

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10Alternative 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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11Morgan 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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12Morgan 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

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13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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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)