The Berkheimer Group at Morgan Stanley is a tightly knit team with a common purpose:

We are here to help our clients preserve, enhance and transfer their wealth within the context of their greater life goals. We are excited to come to work each day, largely due to the wonderful families we serve. With over 80 years of combined experience in financial services, our team provides comprehensive wealth management and premium client service to distinguished individuals and small institutions.We know how hard our clients work for their money and why. They do it to build a meaningful life for themselves, their family, and their community. That’s why we have created a pledge to our clients, to demonstrate our thinking and our promise.
Our Pledge
  • To speak plainly and help you make sense of even the most complex financial concepts.
  • To use our access to global resources and apply them in a personalized and comphrensive way to meet your financial goals.
  • To uphold the code of ethics and professional standards directed by our advanced industry designations.
Services Include
  • Professional Portfolio Management1
  • Financial Planning2
  • Retirement Planning3
  • Cash Management4
  • Lending Products
  • Annuities5
  • Life Insurance6
  • Long Term Care Insurance7
  • Corporate Retirement Plans8
  • Wealth Management9
  • Planning for Education Funding10
  • Qualified Retirement Plans11
Check the background of Our Firm and Investment Professional on FINRA's BrokerCheck.*

Full Suite of Offerings - Tailored To You

Our team utilizes the full suite of offerings from Morgan Stanley to serve our clients. Using this suite of services, we are able to work with our clients on their many goals and in many aspects of their lives.
  • Financial Planning
    - Saving and investing strategies
    - Multi-generational planning
    - Tax minimizing strategies
    - Net worth analysis

    Morgan Stanley Smith Barney LLC 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 visit us at http://www.morganstanleyindividual.com or consult with your Financial Advisor to understand these differences.
  • Cash Management & Lending
  • Retirement Planning
    - Traditional IRAs
    - Roth IRAs
    - IRA rollovers
    - Roth conversions
    - Required minimum distributions (RMD)
  • Investment Management
    - Asset allocation
    - Traditional investments
    - Alternative investments
    - Sustainable investments
  • Insurance Services
    - Permanent life insurance
    - Term life
    - Long term care
    - Disability
  • Trust & Estate Planning Strategies
    - Wealth transfer strategies
    - Inter-generational needs

    Morgan 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.
  • Risk Management
    - Hedging strategies
    - Interest rate risk management
  • Philanthropy Management
    - Charitable lead trusts
    - Family foundations
    - Donor-advised funds
The Berkheimer Group is committed to the communities in which we are honored to be a part. Through our time, talents, and treasures, we individually and collectively aim to make a difference for the future of our families, clients, and neighbors.
  • Our Relationships
    Woman to Woman Mentoring
    Pancreatic Cancer Action Network
    Habitat for Humanity of Frederick County
    Frederick Memorial Hospital
    Tour de Frederick
    Patty Pallatos Fund
    Saint James School
    Frederick's Oktoberfest/Rotary Club of Carroll Creek
    Military Officers Association (MOAA)
    Rotary Club of Frederick
    Color on the Creek
    Frederick Community College Foundation

TBG's Take

Stay tuned for the debut of TBG's Take - The Berkheimer Group's new blog!

    Location

    30 W Patrick Street
    7th Fl
    Frederick, MD 21701
    US
    Direct:
    (301) 631-7124(301) 631-7124
    Toll Free:
    (800) 634-0072(800) 634-0072

    Meet The Berkheimer Group

    About Me

    Betsy Berkheimer Pakenas is a Managing Director and Financial Advisor for Morgan Stanley in Frederick, Maryland. As The Berkheimer Group’s managing partner, she oversees all aspects of the practice while working closely with the team’s seven-person staff to provide financial planning and investment management to high net worth families and small institutions.

    A Financial Advisor since 1998, Betsy was named to Forbes "Best-in-State Wealth Advisors" for Maryland in 2019 and 2018, Forbes "America’s Top Women Wealth Advisors" in 2018 and 2017, Working Mother magazine's "Top Wealth Adviser Moms" in 2018 and 2017, and Financial Times "Top 400 Financial Advisors" in both 2015 and 2016. In recognition of her achievements, Betsy has been a speaker at multiple Barron’s industry conferences and was also featured in Morgan Stanley’s national ad campaign in 2015.

    Active in her community, Betsy has held leadership positions in local organizations including the Frederick County Commission for Women, and the Rotary Club of Frederick, where she is a past president of the two hundred-member service organization. She is currently a Director of Frederick Memorial Hospital.

    After graduating as valedictorian of her local Frederick High School class, Betsy earned her B.S. at Washington & Lee University and continues to be an active alumna. She is a 2001 Leadership Frederick graduate and 2014 Leadership Maryland graduate. Betsy and her husband, Peter, live in Middletown, Maryland, with their two children.
    Securities Agent: AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, LA, MA, MD, ME, MI, MN, NC, NJ, NM, NV, NY, OH, PA, RI, SC, TN, TX, VA, VI, WA, WI, WV; Investment Advisor Representative; General Securities Representative; Managed Futures
    NMLS#: 1290535

    About Me

    Derek McGee is a Senior Vice President, Financial Advisor and Senior Portfolio Manager at Morgan Stanley. As the team’s chief investment officer, Derek is responsible for portfolio construction, implementation and monitoring of all investment strategies.

    As a senior partner of The Berkheimer Group with 15 years of industry experience, Derek focuses on overseeing all aspects of portfolio management and helps construct the team’s long-term investment philosophy as well as the shorter-term strategic outlook. Derek was named to Forbes "America's Top Next Generation Wealth Advisors" list in 2017 and 2018.

    Prior to joining The Berkheimer Group in 2006, Derek was Regional Sales Director for Smith Barney’s Consulting Group. In this role, he advised high net worth individuals and institutions on asset allocation, manager selection and investment policy. Derek built relationships during that time with a wide network of investment professionals inside and outside the firm. The resources and knowledge gained in that role continue to help Derek when advising our clients today.

    Active in the local community, Derek is a member of the Rotary Club of Carroll Creek and currently holds a leadership position on the board of directors for the Downtown Frederick Partnership. He is also a 2014 graduate of Leadership Frederick.

    Derek earned a degree in financial management from The Catholic University of America, where he was the school’s starting quarterback for four years. He and his wife, Cheryl, live in Frederick with their three children.
    Securities Agent: AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IL, KS, LA, MA, MD, ME, MI, MN, NC, NJ, NM, NV, NY, OH, OR, PA, RI, SC, TN, TX, VA, VI, WA, WI, WV; Investment Advisor Representative; General Securities Representative; Managed Futures
    NMLS#: 1288039

    About Me

    Sid Huguenin is a Vice President and Financial Advisor with The Berkheimer Group at Morgan Stanley. He focuses on financial planning and retirement planning for high net worth individuals and families. With nearly 15 years of experience in accounting and the financial services industry, Sid provides sophisticated solutions to the complex issues his clients face.

    In 2005, Sid began his financial services career as an accountant with Hertzbach & Company, where he acquired skills in tax planning, business valuation and balance sheet analysis. He then worked in investment banking at Ferris, Baker Watts in 2006. There, he further developed his proficiency in analysis and financial modeling. Sid came to Morgan Stanley in 2008. He was named to Forbes "America's Top Next Generation Wealth Advisors" list in 2018

    Sid graduated from Johns Hopkins University in 2005 with a major in economics. Active in his community, Sid is a member of the Antietam Exchange Club, an organization which seeks to create better communities through youth projects and the prevention of child abuse. He also serves as Chair of the Annual Fund of the Saint James School Alumni Council. In his free time, he enjoys golf, basketball and spending time with his family. Sid and his wife, Lauren, live in Hagerstown, MD with their son and daughter.
    Securities Agent: AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, LA, MA, MD, ME, MI, MN, NC, NJ, NM, NV, NY, OH, PA, RI, SC, TN, TX, VA, VI, WA, WI, WV; Investment Advisor Representative; General Securities Representative
    NMLS#: 1285088

    About Me

    With over 30 years of experience in wealth management, Charlie's work continues to combine highly attentive relationships with comprehensive and customized financial services. He focuses on individual retirement planning and investment management to aid our clients in meeting their goals while working within their risk tolerance. As part of The Berkheimer Group at Morgan Stanley, Charlie works with a team of professionals who are equally committed to supporting our clients in preserving, enhancing, and transferring wealth.

    In his time away from the office, Charlie is a workout enthusiast and sports fan. He also enjoys time with his two sons and their growing families, which includes chasing after his six grandchildren. He currently lives with his wife, Chris, in New Jersey.
    Securities Agent: AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL, KS, LA, MA, MD, ME, MI, MN, NC, NJ, NM, NY, OH, PA, RI, SC, TN, TX, VA, VI, WA, WI, WV; Investment Advisor Representative; General Securities Representative
    NMLS#: 1619958

    About Me

    Phil Berkheimer is a Vice President for Morgan Stanley in Frederick, Maryland. He entered the investment business in 1968 with Alex Brown & Sons in Baltimore, and started the Frederick office of Legg Mason in 1976. To provide a broader spectrum of services to his wealth management clients, Phil formed The Berkheimer Group in 1998 with the addition of his daughter, Betsy.

    A 45-year veteran of the investment management industry, Phil’s extensive experience adds the historical perspective so helpful to our clients when navigating various market conditions. He finds the opportunity to continue to work with multigenerational families he has advised for over 40 years especially gratifying.

    Phil has held various volunteer leadership positions in the community, including president of the Rotary Club of Frederick, director of the Frederick Community College Foundation, trustee of the Community Foundation of Frederick County and chairman of the Frederick Memorial Hospital Board of Directors and Development Council. In addition, he is immediate Past-Chairman of the Hood College Board of Trustees.

    A native of Hanover, Pennsylvania, Phil holds a Bachelor of Arts in history from Franklin & Marshall College, where he has since served on the board of trustees for the Alumni Association. He is a former instrument-rated private pilot and U.S. Marine Corps officer, whose service included a tour of duty in Vietnam from May 1966-June 1967. Phil and his wife, Marj, reside in Frederick, Maryland.

    About Me

    Kimberly Bishop is a Registered Associate with The Berkheimer Group at Morgan Stanley. Working closely with the team’s clients, Kimberly focuses on meeting the day-to-day needs of clients and assisting them with any questions or concerns. She is always prepared to go the extra mile to ensure that every client is valued and heard.

    Kimberly began her career in customer service with Legg Mason, where she was a registered associate for three years. In that role, Kimberly focused on addressing client inquiries and assisting them in resolving issues. Kimberly joined Morgan Stanley in 2014.

    Outside the office, Kimberly enjoys spending time with her husband and their two children.

    About Me

    Debbie Frey is a Registered Associate with The Berkheimer Group.  With over 18 years of industry experience in various operational and management positions, Debbie started her career with Parker/Hunter, Inc. and most recently worked for a private wealth management firm.  She joined Morgan Stanley in 2018. 

    Debbie’s main focus has always been on providing exceptional client service, and she continues to do so as a member of our team.  She enjoys going above and beyond, aiming to make ‘life easy’ for clients.  

    Debbie and her husband are empty nesters with both of their kids in college.

    About Me

    Drawing on more than 10 years of customer service and community relations experience, Ashley Waters is responsible for ensuring the team efficiently delivers the highest quality service to our clients and community partners. Ashley is enthusiastic in supporting clients with a comprehensive understanding of the firm’s suite of features and offerings, which includes mobile applications, online capabilities, and cash management solutions, just to name a few. Ashley is also the administrative catalyst behind The Berkheimer Group'’s commitment to giving back to the communities in which we are honored to be a part.   

    Prior to joining Morgan Stanley, Ashley was the Director of UMBC-Shady Grove, UMBC’s branch campus in Rockville, MD. She holds a Bachelor’s degree from Penn State University, a Master’s degree from Towson University, and a Doctoral degree from The University of Baltimore.  Ashley also is a contributor with Sass Magazine, a publication focused on the development and support of professional women.  

    Ashley is very active with many organizations in the Frederick community, including holding directorships with The Rotary Club of Carroll Creek and Woman to Woman Mentoring. Ashley also partners with the Make-A-Wish Foundation of the Mid-Atlantic, Federated Charities, Habitat for Humanity of Frederick County, and Mt. Carmel United Methodist Church. Ashley, her husband, Andrew, and their son live in New Market, MD.
    From Our Team

    New Savings Promotion �€“ 2.3%APY


    Investment and Market Perspectives

    On the Markets

    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
    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.

    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
    Five Smart Strategies to Use a Bonus or Raise

    Five Smart Strategies to Use a Bonus or Raise

    Have extra money coming in? Here are ways to put your money to work for you now, so you can reap the rewards down the road.

    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
    Financial Transition: A Guide for Women

    Financial Transition: A Guide for Women

    Here's how to take control of your finances if a death or divorce leaves you holding the reins.

    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
    6 Keys to Building a Startup

    6 Keys to Building a Startup

    Entrepreneurs share ideas and learnings from the experience of starting a company.

    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
    A New Roadmap for Mission Alignment

    A New Roadmap for Mission Alignment

    Non-profits, foundations and endowments need to ensure that their sources of capital are in sync with their stated goals.

    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.

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    Reserved | Living & Giving

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    Ready to start a conversation? Contact The Berkheimer Group today.
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    1Morgan 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.

    2Morgan 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.

    3Morgan 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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    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

    5Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

    6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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

    8Tax laws are complex and subject to change. 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 and are not “fiduciaries” (under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise provided in writing by Morgan Stanley and/or as described at www.morganstanley.com/disclosures/dol . Individuals are encouraged to consult their tax and legal advisors (a) before establishing a retirement plan or account, and (b) regarding any potential tax, ERISA and related consequences of any investments made under such plan or account.

    9Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

    10Morgan Stanley 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.

    11Tax laws are complex and subject to change. 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 and are not “fiduciaries” (under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise provided in writing by Morgan Stanley and/or as described at www.morganstanley.com/disclosures/dol . Individuals are encouraged to consult their tax and legal advisors (a) before establishing a retirement plan or account, and (b) regarding any potential tax, ERISA and related consequences of any investments made under such plan or account.

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    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