Scott D Blair
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, Workplace Advisor - Equity Compensation, Alternative Investments Director, Lending Specialist
Phone:
(212) 503-1145(212) 503-1145
The Blair Caruso Group at Morgan Stanley
Direct:
(212) 503-1145(212) 503-1145
Toll-Free:
(888) 389-7757(888) 389-7757
Our Mission Statement
Experience, intellectual capital and dedicated personal service to help you meet your life goals
Our Story
The Blair Caruso Group at Morgan Stanley is a team of financial advisors, wealth managers, Certified Financial Planners®, and other financial professionals dedicated to serving our clients in any way we can. We combine our more than 100 years of industry experience through bullish and extremely bearish markets with the vast resources of a leading global financial institution to provide you with the breadth of sound advice you deserve. No matter what your financial needs are, we will work with you to develop, and carry out a personalized strategy that can help meet those needs while remaining flexible to other opportunities. This approach not only results in a strategic, balanced and individually tailored portfolios of global investments, but also fosters lasting truth. If you think you could benefit from our services, please feel to reach out by clicking the “Contact Us” button at the top of the page.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
2025 Forbes Best-In-State Wealth Management Teams
The Blair Caruso Group has been named to the 2024 - 2025 Forbes Best-In-State Wealth Management Teams ranking developed by SHOOK Research. Source: Forbes.com (Awarded Jan 2024) Data compiled by SHOOK Research LLC based for the period from 3/31/23–3/31/24. Source: Forbes.com
2024 Forbes Best-In-State Wealth Management Teams
The Blair Caruso Group has been named to the 2023 - 2024 Forbes Best-In-State Wealth Management Teams ranking developed by SHOOK Research. Source: Forbes.com (Awarded Jan 2024) Data compiled by SHOOK Research LLC based for the period from 3/31/22–3/31/23. Source: Forbes.com
Scott Blair: President's Club Member at Morgan Stanley since 2008, most recently in 2025.
Morgan Stanley Wealth Management President's Club members must meet a number of criteria including performance, conduct and compliance standards, revenue, length of experience and assets under supervision. President's Club membership is no guarantee of future performance.
Matthew Zamore: Pacesetter's Club Member at Morgan Stanley 2025
Morgan Stanley Wealth Management Pacesetter's Club members must meet a number of criteria including performance, conduct and compliance standards, revenue, length of experience and assets under supervision. Pacesetter's Club membership is no guarantee of future performance.
Working With You
The need for comprehensive financial planning has become imperative as the financial markets and global economy has become more complex. Working with The Blair Caruso Group begins with discovery as we take the time to learn about you, your family, and your business. We will meet with you and help to define and determine your personal investment objectives and risk tolerance levels. Next we develop a plan to help achieve your financial goals using a customized asset allocation strategy and disciplined investment process. At The Blair Caruso Group, we take pride in the level of service we provide. Clients receive periodic reviews of their investment objectives and portfolio performance. Furthermore, your financial plan will be monitored and updated on a regular basis as we help ensure all your needs are met.
Financial Planning
Our planning process helps clients define what they want out of life and then create a financial framework to bring these goals to life. If you are interested in working with our group to develop a financial plan, please complete the LifeView Client Profile that can be found by clicking the below link. Please send the completed questionnaire to scott.blair@morganstanley.com or give us a call at 212-503-1145 and we can discuss it over the phone.
Location
55 East 52nd Street 10th
Fl
New York, NY 10055
US
Direct:
(212) 503-1145(212) 503-1145
Toll-Free:
(888) 389-7757(888) 389-7757
220 Alhambra Circle
10th Floor
Coral Gables, FL 33134
US
Meet The Blair Caruso Group
Arthur Caruso Jr.
Senior Vice President, Financial Advisor
Phone:
(212) 503-1141(212) 503-1141
Matthew Zamore, CFP®
Associate Vice President, Financial Advisor
Phone:
(212) 503-1193(212) 503-1193
Camille Garcia, CFP®
Vice President, Wealth Management Associate
Phone:
(212) 503-1148(212) 503-1148
Alexandra D'Angelo
Client Service Associate
Phone:
(212) 503-2312(212) 503-2312
About Scott D Blair
Scott has dedicated his entire career to serving the sophisticated wealth management needs of high-net worth individuals and their families. He is a Managing Director at Morgan Stanley and founding partner of the Blair-Caruso group, a highly-skilled team of professionals located in New York City and Miami. Scott provides a unique combination of knowledge, experience, and specialized skills across wealth management, lending, and corporate equity services.
Scott’s 38-year tenure, rare in today’s financial environment, equips him with a long-term perspective when approaching any financial advisory challenge. His length of tenure has also enabled Scott to develop deep relationships with the firm’s senior leaders, thereby providing clients and members of his team with immediate access to the full scope of Morgan Stanley’s intellect and global resources. Scott has earned the respect and trust of accountants, attorneys, and other consultants for his professionalism, ethics, and resolve on behalf of his clients.
Throughout his career, Scott has remained committed to professional development. In 2020, he was named a Family Wealth Advisor, a credential achieved by few advisors at Morgan Stanley. In 2021, Scott became one of the first advisors at Morgan Stanley to achieve the new Lending Specialist designation. These credentials place Scott in an elite category of advisors who are qualified to serve the sophisticated needs of ultra-high net worth clients.
Scott implements a fully integrated, holistic strategy that addresses investments, both sides of each client’s personal balance sheet, and comprehensive financial and estate planning.
Scott lives with his wife, Michele, in Coral Gables, FL and Narragansett, RI, though as a New York native, Scott still spends plenty of time in and around New York City. Scott and Michele have a son, Spencer, and a daughter, Madison. In his free time, Scott enjoys mentoring young advisors, art history and preservation, and architecture. He is an avid chef and a collector of vintage automobiles and other antiques.
Scott’s 38-year tenure, rare in today’s financial environment, equips him with a long-term perspective when approaching any financial advisory challenge. His length of tenure has also enabled Scott to develop deep relationships with the firm’s senior leaders, thereby providing clients and members of his team with immediate access to the full scope of Morgan Stanley’s intellect and global resources. Scott has earned the respect and trust of accountants, attorneys, and other consultants for his professionalism, ethics, and resolve on behalf of his clients.
Throughout his career, Scott has remained committed to professional development. In 2020, he was named a Family Wealth Advisor, a credential achieved by few advisors at Morgan Stanley. In 2021, Scott became one of the first advisors at Morgan Stanley to achieve the new Lending Specialist designation. These credentials place Scott in an elite category of advisors who are qualified to serve the sophisticated needs of ultra-high net worth clients.
Scott implements a fully integrated, holistic strategy that addresses investments, both sides of each client’s personal balance sheet, and comprehensive financial and estate planning.
Scott lives with his wife, Michele, in Coral Gables, FL and Narragansett, RI, though as a New York native, Scott still spends plenty of time in and around New York City. Scott and Michele have a son, Spencer, and a daughter, Madison. In his free time, Scott enjoys mentoring young advisors, art history and preservation, and architecture. He is an avid chef and a collector of vintage automobiles and other antiques.
Securities Agent: NE, GA, AZ, VA, NJ, NH, VT, FL, SC, KS, CO, NV, MA, LA, AL, UT, MT, KY, CA, IL, MO, ME, CT, PA, OR, OH, NC, MI, MD, TX, RI, NY, NM, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 1262230
NMLS#: 1262230
About Arthur Caruso Jr.
I have been in the financial services industry for 35 years specifically in Wealth Management. I started my career at UBS in 1989 and our investment team moved to Morgan Stanley in August 2008. During my career I have worked tirelessly with individuals, families and businesses-to deliver services and solutions that help build, preserve and manage wealth. I understand our clients aspirations, and I am as devoted to their goals as they are.
Our ideal client is any individual or family who is a long-term value investor and seeks a prudent place to invest their capital. We also only seek investors who have high ethical standards and who share our core values and vision.
We are value investors first and foremost. We seek to offer our clients a platform to invest their capital, and seek to provide them consistent returns over the long-term. We believe that value investing is the best means to preserve capital and to continue to provide adequate growth. We invest across the capital structure, asset classes, market caps, industries and geographies. We are willing to hold cash and we strongly believe that cash is a “viable” investment option. Preservation of capital is as important as return of capital.
The foundation of our investment process begins with a deep discovery process. The discovery process and client consultation will provide us the framework to build the customized investment portfolio. Once the account is implemented quarterly reviews and open dialogue will fuel the relationship. We seek to communicate to our clients often, openly and honestly. We view communication as the key to our relationship. In addition to our service our clients value our ability and willingness to admit mistakes early. Our clients realize that mistakes will happen and when they do we own them and we learn from them.
Our investment team works our hardest for each and every client to provide them the information we would want if our roles were reversed.
Our ideal client is any individual or family who is a long-term value investor and seeks a prudent place to invest their capital. We also only seek investors who have high ethical standards and who share our core values and vision.
We are value investors first and foremost. We seek to offer our clients a platform to invest their capital, and seek to provide them consistent returns over the long-term. We believe that value investing is the best means to preserve capital and to continue to provide adequate growth. We invest across the capital structure, asset classes, market caps, industries and geographies. We are willing to hold cash and we strongly believe that cash is a “viable” investment option. Preservation of capital is as important as return of capital.
The foundation of our investment process begins with a deep discovery process. The discovery process and client consultation will provide us the framework to build the customized investment portfolio. Once the account is implemented quarterly reviews and open dialogue will fuel the relationship. We seek to communicate to our clients often, openly and honestly. We view communication as the key to our relationship. In addition to our service our clients value our ability and willingness to admit mistakes early. Our clients realize that mistakes will happen and when they do we own them and we learn from them.
Our investment team works our hardest for each and every client to provide them the information we would want if our roles were reversed.
Securities Agent: ME, KS, MI, DE, UT, SC, OR, NV, IL, NM, NJ, GA, MA, VT, NY, MD, CT, CO, CA, VA, PA, KY, AZ, NH, LA, AL, TX, NC, MT, MO, FL, RI, OH, NE; General Securities Representative; Investment Advisor Representative
NMLS#: 1428683
NMLS#: 1428683
About Matthew Zamore
Matthew has been working in the financial services industry since 2009 after graduating from Lafayette College with degrees in Business/Economics and Chemistry. He joined The Blair Caruso Group during the summer of 2011 and has been a vital member ever since. As one of two Certified Financial Planners® on the team, Matthew assists our high-net-worth clients with comprehensive financial planning and personal balance sheet analysis. In his free time Matthew enjoys playing golf, running, and spending time with family and friends. He currently lives in Brooklyn with his wife, Arielle, but enjoys extended visits to his hometown of Orlando, Florida…particularly during the winter.
Securities Agent: AZ, CO, CT, DC, DE, MT, FL, GA, IA, IL, KS, KY, LA, MA, MD, ME, MI, MO, NC, ND, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, TX, UT, VA, VT, CA, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 2444139
NMLS#: 2444139
About Camille Garcia, CFP®
Camille joined The Blair Caruso Group in 2006 upon moving to New York City from Southern California. She graduated from Pitzer College in Claremont, CA in 2004 with a Bachelors Degree in Organizational Studies. She earned the designation of Certified Financial Planner® in 2010 and assists the team in creating comprehensive financial plans and portfolio reviews. She serves as the point of contact for account opening and maintenace, disbursements, retirement and college planning, as well as trading, cash management and lending solutions, and general client inquiries.
About Alexandra D'Angelo
Alexandra joined The Blair Caruso Group as a Client Service Associate in 2022. Prior to joining the team, Alexandra received her BA in Economics from Franklin & Marshall College in 2021. She has a passion for financial services and is excited to join the industry and begin her career here at Morgan Stanley. Growing up outside of New York City in Ridgewood, NJ Alexandra has a passion for skiing, tennis and running, and is enthusiastic about being able to assist The Blair Caruso Group.
Contact Scott D Blair
Contact Arthur Caruso Jr.
Contact Matthew Zamore
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Christopher Musino
Private Banker
Tony Silva
Private Banker
Mary Beth Powers
Trust Specialist
Andrew Ellis
Planning Associate
Angelo Loumbas
Family Office Resource Generalist
About Christopher Musino
Christopher Musino is a Private Banker serving Morgan Stanley Wealth Management offices in Florida.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Christopher began his career in financial services in 2006, and joined Morgan Stanley in 2016 as an Associate Private Banker. Prior to joining the firm, he was a Relationship Manager Associate at Citigold Private Client. He also served as a Financial Advisor at Raymond James & Associates and Wells Fargo.
Christopher is a graduate of the Florida International University, where he received a Bachelor of Arts in Finance, and the University of Miami, where he received his Master of Business Administration. He lives in Tampa, Florida with his wife. Outside of the office, Christopher enjoys cooking, reading, and various outdoor activities.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Christopher began his career in financial services in 2006, and joined Morgan Stanley in 2016 as an Associate Private Banker. Prior to joining the firm, he was a Relationship Manager Associate at Citigold Private Client. He also served as a Financial Advisor at Raymond James & Associates and Wells Fargo.
Christopher is a graduate of the Florida International University, where he received a Bachelor of Arts in Finance, and the University of Miami, where he received his Master of Business Administration. He lives in Tampa, Florida with his wife. Outside of the office, Christopher enjoys cooking, reading, and various outdoor activities.
NMLS#: 1114238
About Tony Silva
Tony Silva is a Private Banker serving Morgan Stanley’s Wealth Management offices in New York City.
Tony began his career in financial services in 1995 and joined Morgan Stanley in 2015 as a Pipeline Manager in our Home Loans organization. In 2017, he was promoted to Project Manager on that team. Tony assumed his current position in February, 2018. Prior to his tenure at the firm, Tony held a number of roles at mortgage financing institutions.
Tony received a Bachelor of Science in Management from Rutgers University. He and his family reside in Livingston, New Jersey.
When not at the office, Tony enjoys traveling, playing soccer, and spending time with family and friends.
Tony began his career in financial services in 1995 and joined Morgan Stanley in 2015 as a Pipeline Manager in our Home Loans organization. In 2017, he was promoted to Project Manager on that team. Tony assumed his current position in February, 2018. Prior to his tenure at the firm, Tony held a number of roles at mortgage financing institutions.
Tony received a Bachelor of Science in Management from Rutgers University. He and his family reside in Livingston, New Jersey.
When not at the office, Tony enjoys traveling, playing soccer, and spending time with family and friends.
NMLS#: 217945
About Mary Beth Powers
Mary Beth Powers is Executive Director and Trust Specialist for Morgan Stanley covering the New York Metro region, responsible for presenting Morgan Stanley’s third-party trustee partner platform to Morgan Stanley Wealth Management Financial Advisors, clients and prospects. Leveraging the capabilities of our trust company partners, Mary Beth assists to identify appropriate fiduciary solutions, which are essential to the management, preservation and transfer of accumulated wealth. This process includes coordination with the client’s financial, legal and tax advisors to ensure proper trust planning implementation.
Mary Beth has worked in the trust and estate services industry for over thirty years, primarily handling trust new business opportunities. Before joining Morgan Stanley, Mary Beth spent ten years as a senior vice president and regional trust specialist with Citigroup Trust in NYC.
Mary Beth received a Bachelor of Science from Seton Hall University, South Orange, New Jersey and is Series 7 and 63 licensed. She resides with her husband and family in Blauvelt, New York.
Mary Beth has worked in the trust and estate services industry for over thirty years, primarily handling trust new business opportunities. Before joining Morgan Stanley, Mary Beth spent ten years as a senior vice president and regional trust specialist with Citigroup Trust in NYC.
Mary Beth received a Bachelor of Science from Seton Hall University, South Orange, New Jersey and is Series 7 and 63 licensed. She resides with her husband and family in Blauvelt, New York.
About Andrew Ellis
Andrew Ellis is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. Andrew provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from The George Washington University and received the Financial Planning Specialist® designation from the College for Financial Planning. Andrew is originally from Lyndhurst, New Jersey and currently resides there.
He earned his undergraduate degree from The George Washington University and received the Financial Planning Specialist® designation from the College for Financial Planning. Andrew is originally from Lyndhurst, New Jersey and currently resides there.
About Angelo Loumbas
Angelo is the Family Office Resources Generalist for Family Office Resources in the New York Metro and New England regions. Angelo provides specialized knowledge to ultra-high net worth clients and their Morgan Stanley Financial Advisors across a broad range of family wealth management issues, including family governance/dynamics, wealth education, strategic estate and financial planning, philanthropy management, lifestyle advisory and customized asset allocation and portfolio construction. Angelo has over twenty-five years experience advising wealthy families, business owners, and philanthropic organizations.
Originally from Chicago, Angelo practiced law for 15 years and represented ultra-high net worth clients and the businesses they owned, as well as major philanthropic organizations. Angelo is admitted to the Society of Trust and Estate Practitioners. He has spoken on topics such as “Conditions Suggesting a Management Buyout” before the Chicago Bar Association Corporation and Business Law Committee, “Tax Consequences of Intra-Family Loans,” before the Chicago Bar Association Trust Law Committee, and “Conversations about Wealth and Philanthropy with Prospective Donors” before the Chicago Council on Planned Giving.
Prior to rejoining Morgan Stanley in his current position in 2018, Angelo advised wealthy clients in the financial services industry for 10 years, first as a Wealth Strategist with US Trust in Chicago, then a Wealth and Estate Planning Specialist within Family Office Resources in Chicago, and finally as a Senior Wealth Planning Strategist for the Wells Fargo Private Bank in Greenwich, Connecticut. Angelo earned his B.A. from DePauw University, his M.B.A. from the University of Notre Dame, and his law degree from Indiana University at Bloomington. He is Series 7, 66 and 24 licensed. Angelo served as President of the Rotary Club of Chicago (“ROTARY/One”), the world’s first Rotary club, in 2009-2010, and now lives in Armonk, New York with his wife, a native New Yorker, and their two children.
Originally from Chicago, Angelo practiced law for 15 years and represented ultra-high net worth clients and the businesses they owned, as well as major philanthropic organizations. Angelo is admitted to the Society of Trust and Estate Practitioners. He has spoken on topics such as “Conditions Suggesting a Management Buyout” before the Chicago Bar Association Corporation and Business Law Committee, “Tax Consequences of Intra-Family Loans,” before the Chicago Bar Association Trust Law Committee, and “Conversations about Wealth and Philanthropy with Prospective Donors” before the Chicago Council on Planned Giving.
Prior to rejoining Morgan Stanley in his current position in 2018, Angelo advised wealthy clients in the financial services industry for 10 years, first as a Wealth Strategist with US Trust in Chicago, then a Wealth and Estate Planning Specialist within Family Office Resources in Chicago, and finally as a Senior Wealth Planning Strategist for the Wells Fargo Private Bank in Greenwich, Connecticut. Angelo earned his B.A. from DePauw University, his M.B.A. from the University of Notre Dame, and his law degree from Indiana University at Bloomington. He is Series 7, 66 and 24 licensed. Angelo served as President of the Rotary Club of Chicago (“ROTARY/One”), the world’s first Rotary club, in 2009-2010, and now lives in Armonk, New York with his wife, a native New Yorker, and their two children.
Wealth Management
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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
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
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
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
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Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
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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.
Ready to start a conversation? Contact The Blair Caruso Group today.
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 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
3When 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.
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.
5Investors 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.
6Municipal 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.
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
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
3When 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.
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.
5Investors 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.
6Municipal 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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Awards Disclosures
CRC 6491812 (04/2024)
