Welcome Message

The Barnes-Reid Group at Morgan Stanley is a comprehensive wealth advisory practice backed by the strength and extensive resources of a global firm. We have built our practice one relationship at a time and strive to assist our clients with all aspects of their financial lives.

Our ultimate goal is to gain your trust and confidence. We have many years of combined experience serving the wealth management needs of individuals, families and institutions. We are equipped to guide you through diverse market environments and provide you and your family with professional advice and services as your financial needs and priorities evolve over time.
Services Include
  • Retirement Planning1
  • Asset Management2
  • Trust Accounts3
  • Estate Planning Strategies4
  • Financial Planning5
  • Professional Portfolio Management6
  • Fixed Income7
  • Lending Products
  • 401(k) Rollovers
  • 529 Plans8
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

Team Experience

At The Barnes-Reid Group, we are a team of nine seasoned professionals with a complementary set of skills, knowledge and experience. Together, we provide highly customized advice and comprehensive wealth management services to financially successful individuals, families and business leaders locally and across the country. We work diligently to deliver exceptional service, objective guidance and customized strategies.

Over the years, we’ve developed a strong understanding of economics and are well versed in the equity and fixed income markets. We have cultivated skills in investment management, retirement planning and philanthropic services. Most importantly, we take pride in our ability to effectively communicate advanced concepts, helping put them into action so our clients can achieve their goals and aspirations.

As our relationship evolves, we hope you’ll come to regard us as trusted stewards of your wealth, guiding you to make informed decisions on any financial challenge you face. We are dedicated to helping you execute and refine your customized strategy to reflect new priorities, while aligning it with your financial goals and established values.

    Working Together

    We believe financial planning is a “living” process that must be diligently reviewed and cultivated. Our goals-based approach enables us to work together to design and implement appropriate solutions to empower you to achieve – and maintain – financial success. Ultimately, goals-based investing empowers you to be more confident in your investment decisions now and in the future.

    Step 1: Understanding You
    We begin with an in-depth conversation to understand your goals and the goals of your family, the concerns you have and what you ultimately would like to achieve.

    Step 2: Analyzing Your Needs
    Next, we’ll collect key information about your current finances, including assets, liabilities and a discussion of any company-provided benefits you receive. We’ll then review your current and future financial situation, identify the likelihood of reaching your goals and help address any potential shortfalls or the impact of unexpected life events.

    Step 3: Tailoring Your Solution
    In this step, we’ll present a customized wealth management plan with specific strategies designed to help achieve your particular goals. Upon your approval, we’ll set into motion a course of action that strives to align your values and vision with your personal definition of financial success.

    Step 4: Implementing Your Plan
    Once we activate your plan, we’ll set up a number of implementation meetings to ensure your account is set up properly and you have convenient access to your account information.

    Step 5: Continuous Monitoring
    We’ll monitor your progress and review the performance through ongoing calls and meetings. We may recommend adjustments over time due to changing market conditions or changes in your circumstances to help keep you on track towards achieving your goals.
      Over the years, we have developed a strong and active practice that includes a broad range of clients who need professional guidance with the following activities:

      • Approaching a life-changing event with confidence, such as the transition to retirement, the sale of a business or the loss of a spouse 
      • Financing a major acquisition, including the purchase of a new property or expansion of a business
      • Integrating retirement assets and company benefits provided into an overall investment strategy
      • Minimizing taxes through advanced asset management solutions
      • Achieving long-term charitable and philanthropic goals

      Our clients include:

      • Financially successful individuals
      • Multi-generational families 
      • Professionals, including doctors and lawyers and corporate executives
      • 401(k) retirement plan and stock plan participants
      • Business leaders and entrepreneurs

      While each client has a unique personal and professional situation, collectively they all have one thing in common: they are focused on achieving very specific financial goals, so they may secure their family’s financial future and pursue their personal passions.

        Our Core Values

        Our clients are individuals and families with active lives. They seek a team of advisors who will provide thorough and objective guidance on a full range of financial topics.

        When you work with us, you will be treated with respect, care and an unwavering commitment to you and your family. This is reflected in the core values that serve as the foundation of our practice:

        • A Deep Passion for Helping People. We are dedicated to building deep and longstanding relationships, based on trust and integrity. We do this by working with a select group of individuals and families. We guide them through each challenge by maintaining a close relationship, and by providing the experience and strategies to keep them on course to helping achieve their specific financial goals. 

        • Integrated Strategies. We believe retirement assets, equity compensation and insurance policies should not be managed as separate entities, but rather as vital components of your overall financial picture. As experienced advisors, we are positioned to take a holistic approach to wealth management. All of your assets, including the benefits you receive from your employer, will be integrated to ensure they are working together to help meet your overall goals.

        • Thought Leadership. We are committed to providing you with current perspectives from industry thought leaders in such areas as the geopolitical landscape, the regulatory environment and alternative investment disciplines. Our goal is to deliver ongoing, enhanced knowledge about investing effectively domestically and around the world.

        •Service Excellence. Your satisfaction is our priority. Our mission is to provide the personalized service you would expect from a small investment boutique with the resources of a major global firm. When it comes to service, we aim to provide comprehensive solutions, striving to be a trusted resource for any financial or life decision.


          185 Asylum St
          21st Floor
          Hartford, CT 06103
          (860) 275-0737(860) 275-0737
          (800) 248-4499(800) 248-4499

          Meet The Barnes-Reid Group

          About Me

          A seasoned professional for nearly 30 years, Jack enjoys working with financially successful individuals and families, providing highly personalized advice through a disciplined investment management approach. His extensive knowledge and skills enables him to help clients understand the intricate details of their personal wealth. For his experience and dedication, Jack was ranked among the top 50 advisors in the 2018 Forbes list of “Best-in-State Wealth Advisors” for Connecticut.

          Jack grew up in a household focused on finance, as his father owned his own brokerage firm in Chicago. From the age of seven, Jack knew he wanted to follow in his father’s footsteps, working in the financial industry and helping people manage money. Upon graduating from Hobart College, he worked in the institutional bond industry in Manhattan, including five years as a corporate bond research analyst. It was during this time when Jack earned his M.B.A. from The Stern School of Business at New York University. In 1998, Jack joined Morgan Stanley for the opportunity to share his institutional knowledge with individuals and families and to have the opportunity to build more personal relationships. He built a strong and active practice with his brother, Jim Barnes, before his brother retired from the industry in 2008.

          Throughout his career, Jack has developed skills in portfolio management, asset allocation and fixed income investments. His passion has always been to help clients fulfill their financial goals. He takes pride in helping clients oversee and manage their finances, so they may enjoy the wealth they have created.

          Originally from Chicago, Jack and his wife, Eleanor, currently live in West Hartford. They have two teenage children, Marshall and Cricket. Favorite leisure activities include spending time with his family, being outdoors and playing squash and golf.

          Asset allocation does not guarantee a profit or protect against a loss in a declining financial market.
          Securities Agent: CT, WY, WI, WA, VT, VA, UT, TX, TN, SC, RI, PA, OR, OH, NY, NJ, NH, NE, NC, MT, MS, MI, ME, MD, MA, LA, IN, IL, ID, HI, GA, FL, DE, DC, CO, CA, AZ, AR, AK; General Securities Representative; Investment Advisor Representative
          NMLS#: 1332002

          About Me

          A results-driven Financial Advisor, Ethan combines his deep knowledge of wealth management with solid leadership skills and a disciplined, consultative and educational approach to help guide affluent families and business leaders towards the achievement of their specific financial goals. His areas of concentration include comprehensive financial planning, customized investment solutions and integrating retirement assets and executive benefits into a client’s overall investment strategy.

          In 2008, Ethan earned the distinguished CERTIFIED FINANCIAL PLANNER (CFP) designation, demonstrating his commitment to helping clients address the complicated issues facing today’s wealthy families. He takes pride in his ability to put advanced financial planning concepts into action, and works diligently to demystify the investment process by deeply understanding his clients and articulating the key activities needed to help achieve their specific objectives. Most importantly, Ethan focuses on creating trusting relationships with his clients to help them simplify their lives, so they may pursue their passions and enjoy the wealth they have created.

          Ethan began his career in 2000 with A.G. Edwards and moved to Morgan Stanley in 2006. Born and raised in Hartford, Ethan graduated from the University of Connecticut and now lives in Glastonbury with his wife and three young children. He currently serves on the board of High School Inc., a four-year college prep school for Hartford Public School students who are interested in pursuing careers in the insurance and financial services industries. Ethan was a former board member of the Hartford Insurance and Finance Academy and is past President of InterCommunity Inc. When he’s not working directly with clients or actively volunteering, Ethan enjoys spending quality time with friends and family. Favorite activities include coaching his children’s soccer and T-ball teams.
          Securities Agent: CT, WY, WI, WA, VT, VA, UT, TX, SC, RI, PA, OR, OH, NY, NJ, NH, NE, NC, MT, MN, MI, ME, MD, MA, LA, KY, IN, IL, HI, GA, FL, DC, CO, CA, AZ, AR, AK; Managed Futures; General Securities Representative; Investment Advisor Representative
          NMLS#: 178999

          About Me

          Eleanor joined The Barnes-Reid Group in 2014 and has been a vital member of the team ever since. She works directly with individuals and families to understanding their particular priorities and passions, so she can customize a thoughtful and thorough plan designed to help achieve their specific financial goals.

          Upon graduating from Washington & Lee University, Eleanor began her career at CNN Business News in New York City. Five years later, she was a proud recipient of the Knight-Bagehot Fellowship, studying Economics and Business Journalism at Columbia University, and earning her M.B.A. a year later. In 1996, Eleanor joined Money Magazine’s New Media department, working in product development. After taking a few years off to raise her children, Eleanor re-entered the workforce in 2007 with a focus on fundraising for nonprofits, including The Ethel Walker School and the Bushnell Center for the Performing Arts. She joined her husband, Jack Barnes, at The Barnes-Reid Group for the opportunity to share her knowledge with clients and continue to help enhance the client experience.

          As a Financial Advisor, Eleanor enjoys deeply listening to her clients, so she may truly understand their values, wishes and goals for the future, and get to the heart of what matters most to them now and in the future. This information then serves as the foundation for the development and implementation of a custom financial plan that can be adapted to respond to changes over time.

          Eleanor’s passion for working with her clients is equaled only by her dedication to her family and community. She is the President of the Hartford Golf Club Scholarship foundation and is on the Board of Overseers at The Bushnell Center. She is also an active member of St. John’s Episcopal Church, serving as the Co-Chair of Stewardship. Eleanor and Jack have two children, Marshall and Cricket. In her leisure time, she enjoys running, hiking, yoga and golf.
          Securities Agent: CT, WY, WI, WA, VT, VA, UT, TX, TN, SC, RI, PA, OR, OH, NY, NJ, NH, NE, NC, MT, MS, MN, MI, ME, MD, MA, LA, IN, IL, ID, HI, GA, FL, DE, DC, CO, CA, AZ, AR, AK; General Securities Representative; Investment Advisor Representative
          NMLS#: 1380683

          About Me

          Fran brings a lifetime of experience to his role as a Portfolio Manager and Financial Advisor. For more than 35 years, he has been serving the specialized needs of financially successful individuals, multigenerational families and business owners living in the Northeast and around the country. He enjoys helping clients solve their financial challenges – with an emphasis on retirement planning – delivering thoughtful and objective advice for life’s most important milestones.

          An industry veteran, Fran began his financial services career in 1981 at First Albany Corporation. With a focus on stock and bond market investing, he built a successful practice, helping his clients grow their investment and retirement portfolios. Two years later, Fran joined Smith Barney (now Morgan Stanley), and over the years has expanded his responsibilities, taking on the role of Assistant Branch Manager of Morgan Stanley’s Hartford office, a position he proudly held from 1987 to 1997. He joined The Barnes-Reid Group in 2018, helping to expand the capabilities of this well-established team. 

          Fran draws upon his unique management and investment experience to provide clients with tailored financial advice and customized portfolios. His approach begins with a face-to-face meeting to fully understand each client’s specific goals, personal values and family circumstances. This information serves as the foundation for the development of a comprehensive financial plan and asset allocation strategy that is specifically designed to weather various market conditions and business cycles.

          A native of Connecticut, Fran and his wife, Kim, now live in Glastonbury. They have been married 25 years and have a grown son, Trevor, who lives in California. An avid car enthusiast, Fran enjoys collecting and restoring American muscle cars from the sixties. In his free time, he enjoys golf and fine dining.

          Asset allocation does not guarantee a profit or protect against a loss in a declining financial market.
          Securities Agent: CT, WY, WA, VT, VA, UT, TX, SC, RI, PR, PA, OR, OH, NY, NJ, NH, NE, NC, MO, MI, ME, MD, MA, LA, KY, IN, IL, HI, GA, FL, DC, CO, CA, AZ, AR, AK; Managed Futures; General Securities Representative; BM/Supervisor; Investment Advisor Representative
          NMLS#: 179011

          About Me

          An experienced professional, Joe is dedicated to providing customized advice and investment strategies as he guides his clients in helping achieve their financial goals. He is proud to be a vital member of Morgan Stanley’s history and its predecessor brands for more than 40 years. This rare tenure enables him to build longstanding relationships with the firm’s senior leaders, providing his clients and colleagues with immediate access to the full scope of Morgan Stanley’s intellect and global resources.

          Growing up in Torrington, CT, Joe was always intrigued by the stock market. He worked at the nearby country club, learning about the market from businessmen he caddied for. While attending the University of Houston, where he majored in Economics and minored in Finance, he worked at the local Merrill Lynch office. It is here where Joe worked more closely with Financial Advisors, who encouraged him to make a career in financial services. Upon graduation, he joined Smith Barney’s Hartford office as one of the firm’s first retail advisors. He has been with the firm ever since, guiding clients through every market cycle.

          Throughout his rewarding career, Joe has developed a deep understanding of the world’s financial markets. He is a strong advocate for value investing and appreciates the wisdom he has learned over the years from such value investors as Warren Buffet. Joe’s process begins with asking the right questions and actively listening. This knowledge then serves as the foundation for the development of a custom strategy that reflects their lifestyle needs and his approach to value investing.

          The father of two grown children, Joe is a strong believer in giving back. He has been actively involved with the Harwinton Lions Club, chairing or co-chairing the organization’s annual Concert for Sight over the past 15 years. Outside the office, Joe spends a lot of time outdoors gardening, golfing and hiking.
          Securities Agent: CT, WY, WI, WA, VT, VA, UT, TX, TN, SC, RI, PA, OR, OH, NY, NJ, NH, NE, NC, MS, MI, ME, MD, MA, LA, KY, IN, IL, HI, GA, FL, DC, CO, CA, AZ, AR, AK; General Securities Representative; Investment Advisor Representative
          NMLS#: 1270269

          About Me

          Bill is a Financial Advisor and Financial Planning Specialist at Morgan Stanley, recently joining The Barnes-Reid Group, a highly skilled advisory team located in Hartford, CT.

          With more than 25 years of industry experience, Bill enjoys helping individuals and families develop a financial security plan that can address their specific goals and circumstances. He is committed to delivering exceptional service, as he advises his clients in the areas of financial planning, investment management and liability management.

          After spending 11 years as a supervising auditor at one of the largest insurance companies in the country, Bill desired a more client-focused profession that combined his interests in the investment markets with helping people achieve their personal goals. He joined Morgan Stanley as a Financial Advisor in 1993. Bill values the opportunity to create long-term relationships with his clients, while helping guide them towards the achievement of their particular financial goals.

          Over the years, Bill has built a successful practice that spans multiple generations. He believes investing should be based on a strategy that is easy to understand and easy to implement. Through a goals-based process and world-class resources, Bill works diligently to provide clients with clarity and confidence about their finances, so they can enjoy the wealth they’ve worked so hard to achieve.

          Originally from Wethersfield, Bill now lives in Manchester with his long-time sweetheart, Marilyn. He has two grown daughters and one granddaughter, Amanda, who lives nearby in Enfield with her husband and daughter, Alaina; and Emily, who lives in North Carolina with her Air Force husband. Outside of the office, Bill enjoys many passions, including travelling and cruising, being by the water – whether in New England or Florida, and baking bread. He is a sports car enthusiast, with a specific love of Corvettes, and enjoys fishing, movies and reading in his free time.
          Securities Agent: CT, WY, WI, WA, VT, VA, TX, TN, SC, RI, PA, OR, OH, NY, NJ, NH, NE, NC, MI, ME, MD, MA, IL, HI, GA, FL, DC, CO, CA, AZ, AK; General Securities Representative; Investment Advisor Representative
          NMLS#: 179008

          About Me

          Serving high net worth clients since 1992, Maura is a Portfolio Associate at The Barnes-Reid Group. Often the first line of contact on a broad array of client-specific services, Maura is committed to providing each client with caring and personalized attention. Her exceptional interpersonal skills make her the go to professional to help solve problems and ensure clients enjoy a positive experience with every interaction.

          Through ongoing outreach and communication, Maura leads a number of important aspects of the Groups business management and client servicing activities, helping gain a deeper understanding of each clients set of priorities. And as a Portfolio Associate with her Series 7, 9, 10, 31, 63 and 65 securities licenses, she is able to execute trades on behalf of the Financial Advisors on the team.

          Over the course of her career, Maura has had the opportunity to work in a variety of client service roles. She began her career at Morgan Stanley as a Sales Assistant, and spent several years in the Operations area as an Assistant Operations Manager and as Control Administrator for the branch. She joined The Barnes-Reid Group for the opportunity to work more directly with clients again.

          Maura grew up in Meriden and is glad to be back in her hometown, where she lives with her husband, Jim, and their kid, a Pointer Hound mix named Ellie Mae. In her free time, Maura enjoys trap shooting.

          About Me

          Amanda is the latest addition to The Barnes-Reid Group, joining the team in 2018. As a Client Service Associate, Amanda works diligently to exceed client expectations. Her primary responsibilities include onboarding new clients, preparing financial reports and research, and helping clients set up their personal, business and cash management accounts.

          Growing up in Coventry, CT, Amanda learned firsthand about finance from her mother, who taught her the importance of managing money and saving for the long-term. While attending the University of Connecticut, she began taking courses in economics and finance, confirming her decision to pursue a career in business. Amanda earned her B.A. degree in Business Administration in 2017. She then pursued her education further at the University of Hartford. It was here that she earned her Masters in Business Administration with a concentration in finance in 2018.

          From the largest task to the smallest request, Amandas role is essential to enabling the team to carry out its mission of helping financially successful individuals plan, invest and lead fulfilling lives. Previous work experience includes serving as a part-time associate at Charles Schwab in South Windsor and a full-time manager at Walgreens, where she honed her organizational and managerial talents.

          Amanda currently resides in East Hartford. Outside of the office and classroom, she enjoys boating in Deep River, CT and reading novels.
          Investment and Market Perspectives

          On the Markets


          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
          The Simple Six-Step Retirement Checkup

          The Simple Six-Step Retirement Checkup

          Given market volatility in 2018, checking in on your retirement plan may be one of the wisest New Year’s resolutions you can make.


          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
          Investing in Artificial Intelligence and Automation

          Investing in Artificial Intelligence and Automation

          AI is an exciting growth area, but the investing opportunities are not always obvious. Here’s how to integrate this theme into your portfolio.


          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
          From Clueless to Clued In: Teaching Teens About Money

          From Clueless to Clued In: Teaching Teens About Money

          As your children grow into young adults, you can help them learn how to manage their own finances. Here’s how to go about it.

          Business Planning

          Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
          • Succession Planning
          • Business Planning
          • Retirement Plan Sponsors
          • Qualified Retirement Plans
          • Corporate Pension Funds
          Facing Financial Stress? Your Employer May Be Able to Help

          Facing Financial Stress? Your Employer May Be Able to Help

          Many of us face money worries. You may be able to get advice and education from an unexpected source.


          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
          Choosing an Environmental Charity

          Choosing an Environmental Charity

          There are a multitude of non-profits dedicated to helping protect the environment. Here’s how to choose where you want to give.

          Insights and Outcomes

          Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
          Art as An Asset
          CRC 2274738 01/19

          Art as An Asset

          Art may play a significant role in the context of a collector's overall wealth. Generally, a collector may differentiate financial assets, including stocks, bonds and real estate, from other possessions, such as art.


          Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
          The Tao of Guy

          The Tao of Guy

          Best-selling author Guy Kawasaki shares how to live your best life.

          More from Morgan Stanley



          “You may feel like a 1,000 point move in the Dow in a single day is unprecedented, but the reality is that it’s a 2 or 3% move down.” - Lisa Shalett, Chief Investment Officer, Wealth Management
          Morgan Stanley Pathway Solutions

          Morgan Stanley Pathway Solutions

          Morgan Stanley Pathway Solutions are style-driven mutual fund portfolios that put your financial goals at the center of the investment process.
          Learn more about Morgan Stanley Pathway Solutions
          Morgan Stanley and Justin Rose: A Winning Team

          Morgan Stanley and Justin Rose: A Winning Team

          Morgan Stanley and our brand ambassador, PGA TOUR champion Justin Rose, share a set of core values and a common cause: giving books to children in need.
          Learn more about Morgan Stanley and Justin Rose: A Winning Team
          Sign Up for eDelivery

          Sign Up for eDelivery

          With eDelivery, you’ll have easy access to statements, trade confirmations, general correspondence and much more.
          Learn more about Sign Up for eDelivery
          Reserved | Living & Giving

          Reserved | Living & Giving

          Our complimentary program for eligible clients provides you and your family with access to exclusive offers and discounts from premium travel, automotive, health and wellness, and retail brands as well as curated insights from Morgan Stanley.
          Learn more about Reserved | Living & Giving
          Your Financial World. On the Go.

          Your Financial World. On the Go.

          With the Morgan Stanley Mobile App, you’ll have the freedom to manage your investments and instantly access a suite of personal cash management tools.
          Learn more about Your Financial World. On the Go.
          Access Morgan Stanley Online

          Access Morgan Stanley Online

          Morgan Stanley Online provides a comprehensive view of your assets and liabilities, projected income, breaking news, research and much more.
          Learn more about Access Morgan Stanley Online
          Ready to start a conversation? Contact The Barnes-Reid Group today.
          Market Information Delayed 20 Minutes
          Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

          1Morgan 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.

          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.

          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.

          4Morgan 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.

          5Morgan 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.

          6Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be suitable 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.

          7Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.

          8Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.

          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 suitable 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”) 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.

          CRC 2019752 10/2018