Robert McAllister
Senior Vice President, Wealth Management, Branch Manager, Wealth Advisor, Portfolio Manager
Phone:
(720) 562-6220(720) 562-6220
The Boulder Legacy Group at Morgan Stanley
Direct:
(720) 562-6220(720) 562-6220
Toll-Free:
(800) 787-5218(800) 787-5218
Our Mission Statement
“Your Life well defined . . . our team fully engaged.”
We bring world-class resources, strategies, financial advice, and investment solutions that can empower you to confidently define and pursue your distinct future.
We bring world-class resources, strategies, financial advice, and investment solutions that can empower you to confidently define and pursue your distinct future.
Welcome
We are seasoned professionals with more than 30 years of experience who value long-term relationships with our clients and their extended families, and who value trust and integrity. These synergies between our two teams have led us to form The Boulder Legacy Group. We are building for the future while honoring and preserving the strong foundations of our past.
In fact, this is what we want for you: to help build your financial future while honoring your family connections across generations of hard work, business ownership, farming and ranching enterprises, business leadership positions, and the myriad ways you, our clients, have found success.
The experience, knowledge and comprehensive skills of our team enable us to serve as your single point of contact for virtually all your family wealth needs. We work closely with your legal, insurance, and tax advisors to help ensure you have an efficient, coordinated wealth management strategy.
We deliver a fully engaged service model that prioritizes your best interests and your level of comfort. We are committed to earning your trust and confidence with a powerful combination of experience, empathy, and accessibility.
Getting started begins with a conversation. We look forward to getting to know you and your family and discussing how we can help empower you to create the lifestyle and legacy you envision.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Your Journey, Our Process
You are “here,” but you want to get “there,” and you recognize there may be hazards and unforeseen challenges along the way. Our role is to help you navigate from “here to there” in your financial journey. We begin with careful listening.
Step 1:
The initial conversation is to understand your personal financial concerns and determine how we can add value.
Step 2:
We analyze your current financial situation in light of where you’ve told us you want to be and against your financial concerns.
Step 3:
We then identify and present solutions that help propel results towards your goals, and we create a plan of actionable steps you can begin today.
Step 4:
Our ongoing monitoring and measurement of progress towards your goals is reviewed with you so you know where you are, which direction you are headed, how close—or far away—the milestone may still be, and to adjust to changing conditions or newly presented opportunities.
Step 5:
Financial well-being is often a journey, not just a destination. We are here for you, your family, your business partners, your employees, whoever is part of your journey!
Who Are Our Clients?
We are honored to serve a select group of clients who value our depth of knowledge and experience, including retirees, business owners, corporate executives, entertainers, medical professionals, educators, women in leadership roles, engineers, and others.
The Morgan Stanley Client Experience
While each client’s personal and professional circumstances are unique, they share a clear focus on achieving specific financial goals—helping to secure their family’s financial future and pursue their personal ambitions.
The Morgan Stanley Client Experience
Protecting Your Legacy
Whether you are planning for a successful retirement, financing a major purchase, prepping the next generation to manage wealth, or looking to minimize taxes, we are here to help you meet your financial goals. We want to help you manage your legacy.
Discuss Your Future Milestones With UsTax Efficient Strategies
We simplify complex financial concepts so you understand the strategies used to plan for your financial future, including tax-efficient approaches. Our team strives to provide resources to help you stay informed on market trends, outlooks, and analysis.
4 Key Tax Questions for Investors to Consider
Factoring the impact of taxes into your investment decisions can help you keep more of your hard-earned money, both now and in the future.
Read the Questions Here
Tax-Smart Strategies for Retirement
Smart tax planning can help you save more for retirement and keep more of what you’ve already saved.
Read More Here
Tax-Savvy Ways to Give
Consider these 5 methods of charitable gifting that help your gifts go even further.
Read the 5 Ways Here
Are You Prepared for Tax Day?
With Tax Day fast approaching, you can never be too prepared. Read Morgan Stanley's strategies to consider as the day approaches.
Preparing for Tax Day
2026 Tax Tables
Review the 2026 tax tables to support year-ahead planning and tax-efficient strategies.
View HereOur Team Spotlight and Philanthropic Giving
Come explore the latest insights and achievements of The Boulder Legacy Group in our Spotlight tab. Stay informed on important team announcements, celebrate milestones, read our past newsletters, and learn more about how we've given back to our community through recent events.
"As a single drop of water fills a bucket, so do small deeds of good." -Buddha.
- Donations to a donor advised fund (DAF) are eligible for a US federal income tax deduction and, once invested, can potentially grow, tax-free.
- Donating to a DAF may be useful in years when you are seeking a charitable deduction but want more time to finalize a giving strategy.
- Certain DAFs may allow you to donate complex assets, including cryptocurrency, shares of privately held companies, real estate, art or automobiles.
Summer Newsletter 2026
Summer is upon us. As we move through the second half of the year, we are pleased to share our latest newsletter with you. Our team is taking a moment to step back and appreciate the world around us, and we hope you are finding opportunities to do the same. Please enjoy highlights from our team's summer activities, along with investor insights below.
There With Care
During our summer 2026 trip to There With Care, our team was proud to continue to support the local nonprofit's mission to provide essential items to families in Colorado caring for critically ill children. Through donations of food, gift cards, newborn care items, car seats, and toys, we helped ease some of the stresses these families face so they can focus on what matters most: their child's well-being.
We are grateful for the opportunity to support this wonderful organization and its meaningful work.
Safehouse Progressive Alliance for Nonviolence (SPAN)
SPAN is an organization dedicated to ending violence against adults, youth and children through support, advocacy, education and community engagement. As part of our commitment to community involvement, we provided essential items including personal hygiene products, baby diapers, blankets and towels to help meet the basic needs of individuals and families served by SPAN.
We are proud to contribute to an organization making a meaningful impact in creating safer and more supportive communities.
Broomfield FISH Foodbank
Our team was proud to support Broomfield FISH with a Winter 2026 food donation totaling 240 pounds. For more than 60 years, FISH has served as a vital community resource, helping Broomfield residents meet basic needs through food assistance, emergency financial support, and mentoring.
We believe strong communities are built through small acts of generosity and collective effort, and we're grateful for the opportunity to give back and support the important work Broomfield FISH does every day to serve our neighbors.
Looking to Give Back? Check out Donor Advised Funds
There's more to charitable giving than you may realize. Here's one method that may be tax-efficient and can help maximize your impact.
Firm Events and Podcasts
Get insights from Morgan Stanley's thought leaders, industry trailblazers, and influential voices on what's shaping the markets and economy today in upcoming events, valuable replays, and informational podcast episodes.
Upcoming & Recent Firm Events
Stay connected with Morgan Stanley's latest firm events and on-demand replays, including timely discussions, leadership updates, and insights across the business. Visit the link to explore upcoming sessions and catch up on past events at your convenience.
Thoughts on the Market Podcast
Thoughts on the Market delivers short, thoughtful takes on the latest market-moving developments—spanning markets, economics and global trends—from a range of perspectives across Morgan Stanley. With new episodes released regularly and available on various platforms, it's an easy way to stay current on the themes shaping the investing landscape.
Wealth Education for the Next Generation: 2026 Replays
Access the 2026 replays of Wealth Education for the Next Generation to revisit timely conversations and practical guidance designed to help families engage the next generation in meaningful discussions about wealth, values, and financial responsibility. These sessions offer insights and resources to support education, planning, and long-term family financial decision-making across generations.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
1800 Broadway
Ste 120
Boulder, CO 80302
US
Direct:
(720) 562-6220(720) 562-6220
Toll-Free:
(800) 787-5218(800) 787-5218
Meet The Boulder Legacy Group
First Vice President, Wealth Management, Financial Advisor, Portfolio Management Director, Senior Investment Management Consultant
Phone:
(720) 562-6208(720) 562-6208
Phone:
(720) 562-6222(720) 562-6222
Denise Roberts
Assistant Vice President, Wealth Management Associate
Phone:
(720) 562-6242(720) 562-6242
Nick Locicero
Client Service Associate
Phone:
(720) 562-6202(720) 562-6202
Parker Stanford
Registered Client Service Associate, Financial Planning Specialist
Phone:
(720) 562-6203(720) 562-6203
About Robert McAllister
Robert McAllister, Sr. is a Senior Vice President, Portfolio Manager and Wealth Advisor with The Boulder Legacy Group in Boulder, Colorado. He has been with the Firm since 1993 and is grateful every day for opportunities to make a difference for his clients.
Rob has developed a strong consultative approach to addressing his clients’ biggest concerns, his process starts with careful and compassionate listening. Understanding what matters most to his clients is what matters most. Rob develops personalized strategies to help clients manage wealth, mitigate taxes, take care of family and contribute to causes they care most about. Rob is committed to working with his clients and this relationship has led to stewardship of family wealth over multiple generations.
Rob grew up in southern New Jersey outside of Philadelphia. He had successful careers in commercial and vacation real estate and real estate development. He spent ten years as a professional musician performing with distinguished entertainers. Throughout these early years, he found a passion for helping others make informed decisions about their wealth and assets. This led him to a career in wealth management where he has spent 30-plus years helping clients from families to business owners to retirees accomplish their wealth and legacy goals.
Rob enjoys working with clients around the country and splits his time between offices in the greater Philadelphia and Denver areas. Outside of work, Rob enjoys skiing in Colorado, participating in health and wellness activities, polishing his musical skills on Trombone and Piano and traveling.
Rob has developed a strong consultative approach to addressing his clients’ biggest concerns, his process starts with careful and compassionate listening. Understanding what matters most to his clients is what matters most. Rob develops personalized strategies to help clients manage wealth, mitigate taxes, take care of family and contribute to causes they care most about. Rob is committed to working with his clients and this relationship has led to stewardship of family wealth over multiple generations.
Rob grew up in southern New Jersey outside of Philadelphia. He had successful careers in commercial and vacation real estate and real estate development. He spent ten years as a professional musician performing with distinguished entertainers. Throughout these early years, he found a passion for helping others make informed decisions about their wealth and assets. This led him to a career in wealth management where he has spent 30-plus years helping clients from families to business owners to retirees accomplish their wealth and legacy goals.
Rob enjoys working with clients around the country and splits his time between offices in the greater Philadelphia and Denver areas. Outside of work, Rob enjoys skiing in Colorado, participating in health and wellness activities, polishing his musical skills on Trombone and Piano and traveling.
Securities Agent: VI, TN, OK, LA, KY, KS, IA, AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, PA, PR, RI, SC, SD, TX, UT, VA, VT, WA, WI, WV, WY, OR; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 302752
NMLS#: 302752
About William Bowman
Bill has spent his entire career with the Morgan Stanley family, having joined the firm in 1995. Over this period, he has built a successful business of wealth management and investment advice to individuals, families and non-profits in Colorado and across the country.
The longevity of his client relationships has provided opportunity for Bill to offer subsequent wealth management advice to professionals, spouses, parents, siblings, children, employees, friends all the important connections to his clients’ lives.
As one of the team’s senior partners, Bill is responsible for helping shape the group’s strategic vision. He focuses on wealth management and helping guide clients with growth and preservation of assets. Some of his strengths lie in understanding and managing equity compensation, concentrated position management and alternative investment strategies. As needed, Bill leverages partnerships with Private Wealth Management and Graystone Institutional to provide sophisticated strategies for complex client situations.
A graduate of the University of North Texas, Bill has remained committed to professional development, a fundamental tenet since the start of his practice. He earned his Certified Investment Management Analyst (CIMA®) designation from the Wharton School of Business at the University of Pennsylvania in 2009.
Bill has been a resident of Colorado for 30 years and married 28 years to his business partner, Carol Bowman. “I grew up on the Chesapeake Bay and developed a love of boating, fishing, and Maryland-style crab cakes. I spent 20 years in Texas where I cultivated a similar passion for horses, western attire and cowboy boots and hats. Since moving to Colorado, I find great joy in the outdoors, finding a hidden gem in a wine store, the occasional horseback ride and golf outings with my family.”
The longevity of his client relationships has provided opportunity for Bill to offer subsequent wealth management advice to professionals, spouses, parents, siblings, children, employees, friends all the important connections to his clients’ lives.
As one of the team’s senior partners, Bill is responsible for helping shape the group’s strategic vision. He focuses on wealth management and helping guide clients with growth and preservation of assets. Some of his strengths lie in understanding and managing equity compensation, concentrated position management and alternative investment strategies. As needed, Bill leverages partnerships with Private Wealth Management and Graystone Institutional to provide sophisticated strategies for complex client situations.
A graduate of the University of North Texas, Bill has remained committed to professional development, a fundamental tenet since the start of his practice. He earned his Certified Investment Management Analyst (CIMA®) designation from the Wharton School of Business at the University of Pennsylvania in 2009.
Bill has been a resident of Colorado for 30 years and married 28 years to his business partner, Carol Bowman. “I grew up on the Chesapeake Bay and developed a love of boating, fishing, and Maryland-style crab cakes. I spent 20 years in Texas where I cultivated a similar passion for horses, western attire and cowboy boots and hats. Since moving to Colorado, I find great joy in the outdoors, finding a hidden gem in a wine store, the occasional horseback ride and golf outings with my family.”
Securities Agent: DE, TX, SC, NJ, MS, AR, WA, IN, CA, OH, IL, AZ, VA, NE, MO, PA, NY, GA, WY, NC, MA, HI, FL, CO, WI, MD, UT, NH, RI, KS, ID; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1290667
CA Insurance License #: OC01467
NMLS#: 1290667
CA Insurance License #: OC01467
About Carol Bowman
Carol has a diverse 30-year background in the financial services and technology industries. These viewpoints enable her to help clients better understand the intricate details of their personal wealth, using industry-leading analytical tools.
Carol has an acute understanding of how fundamental, discreet parts lead to the success of the whole. By integrating in-depth planning, portfolio research, estate planning strategies, executive compensation management, or tax-efficiency into the client experience, she helps enhance the wealth outcome of her clients.
Her primary focus, however, is on determining what is most important to each family. This may range from asset growth for education, planning a confident retirement, or preservation and transfer of wealth. Only then can she develop a truly customized plan to help achieve those goals.
Prior to joining Morgan Stanley in 2003, Carol was a Vice President of Software Engineering with Corporate Express. She is a graduate of the University of Arkansas, where she earned her degree in Business Administration and Computer Information Systems. Carol has a strong commitment to her education and achieved her CERTIFIED FINANCIAL PLANNER® (CFP®) designation from the Certified Financial Planner Board of Standards, Inc. in 2013. She also has received her Family Wealth Advisor designation from Morgan Stanley.
Carol is originally from San Francisco and was raised on the west coast. She grew up enjoying both the beauty of Oregon’s rugged coastline and the warm beaches of southern California. Carol is an avid fan of sports and competition. In the summer, you’ll find her at a Colorado Rockies game or watching her son playing baseball. Carol has been a resident of Colorado for 31 years. She and her husband, Bill Bowman, have been business partners for the past 22 years. She is very proud of this enduring commitment.
Carol has an acute understanding of how fundamental, discreet parts lead to the success of the whole. By integrating in-depth planning, portfolio research, estate planning strategies, executive compensation management, or tax-efficiency into the client experience, she helps enhance the wealth outcome of her clients.
Her primary focus, however, is on determining what is most important to each family. This may range from asset growth for education, planning a confident retirement, or preservation and transfer of wealth. Only then can she develop a truly customized plan to help achieve those goals.
Prior to joining Morgan Stanley in 2003, Carol was a Vice President of Software Engineering with Corporate Express. She is a graduate of the University of Arkansas, where she earned her degree in Business Administration and Computer Information Systems. Carol has a strong commitment to her education and achieved her CERTIFIED FINANCIAL PLANNER® (CFP®) designation from the Certified Financial Planner Board of Standards, Inc. in 2013. She also has received her Family Wealth Advisor designation from Morgan Stanley.
Carol is originally from San Francisco and was raised on the west coast. She grew up enjoying both the beauty of Oregon’s rugged coastline and the warm beaches of southern California. Carol is an avid fan of sports and competition. In the summer, you’ll find her at a Colorado Rockies game or watching her son playing baseball. Carol has been a resident of Colorado for 31 years. She and her husband, Bill Bowman, have been business partners for the past 22 years. She is very proud of this enduring commitment.
Securities Agent: NH, AR, RI, OH, NJ, MS, NY, MA, IL, NE, MO, CO, UT, TX, MD, KS, IN, VA, GA, AZ, WI, WA, NC, FL, CA, PA, ID, HI, WY, SC, DE; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1408695
NMLS#: 1408695
About Denise Roberts
Denise Roberts is a registered Wealth Client Associate and highly experienced professional in the financial services industry with 19 years of experience. She began her career servicing ultra-high net worth clients as the head of operations on a wealth management team based in Aspen, Colorado fostering a passion for providing exceptional service developing efficient processes and streamlining internal functions.
In joining The Boulder Legacy Group in May 2025 Denise looks forward to continuing to support both clients and her team with the same dedication, professionalism and attention to detail which have defined her career.
Outside of work, Denise enjoys spending time in the mountains, skiing, hiking, playing tennis and traveling.
*Disclaimer: This role cannot solicit or provide investment advice
In joining The Boulder Legacy Group in May 2025 Denise looks forward to continuing to support both clients and her team with the same dedication, professionalism and attention to detail which have defined her career.
Outside of work, Denise enjoys spending time in the mountains, skiing, hiking, playing tennis and traveling.
*Disclaimer: This role cannot solicit or provide investment advice
About Nick Locicero
Nick Locicero is the newest team member of The Boulder Legacy Group, having joined Morgan Stanley in 2022. He is a graduate of the University of Colorado at Boulder with a major in Economics and a minor in Philosophy. We found this mix intriguing: how might a focus on economics and philosophy translate into better financial decisions?
Nick has a strong interest in managerial economics--how managers make decisions based on the economic environment. His understanding of the variables of the economy, plus an openness to different perspectives, bring balance to making challenging decisions. Nick’s career goal is to develop and apply his skills in this area so clients may benefit through various stages of their financial lives. Being a member of the Digital Generation, he is a natural to promote and advance the next iteration of digital and electronic tools in finance.
Nick grew up in northern California and began racing cars at the age of four. He competed in Trap shooting and was a past California State Champion. His current interests include camping, hunting waterfowl, fly fishing, and converting his 1989 Volkswagen Golf into an autocross car. His phenomenal shelter dog Levi is a Catahoula/Beagle mix, combining the athleticism of the Catahoula with the nose of a Beagle.
Nick has a strong interest in managerial economics--how managers make decisions based on the economic environment. His understanding of the variables of the economy, plus an openness to different perspectives, bring balance to making challenging decisions. Nick’s career goal is to develop and apply his skills in this area so clients may benefit through various stages of their financial lives. Being a member of the Digital Generation, he is a natural to promote and advance the next iteration of digital and electronic tools in finance.
Nick grew up in northern California and began racing cars at the age of four. He competed in Trap shooting and was a past California State Champion. His current interests include camping, hunting waterfowl, fly fishing, and converting his 1989 Volkswagen Golf into an autocross car. His phenomenal shelter dog Levi is a Catahoula/Beagle mix, combining the athleticism of the Catahoula with the nose of a Beagle.
About Parker Stanford
Parker Stanford joined The Boulder Legacy Group, Morgan Stanley in July 2025. He is a graduate of Louisiana State University, with a major in Finance and the University of Colorado at Boulder with a Masters in Corporate Finance and Consulting. Parker began his career as a Financial Services Representative for Charles Schwab in Lone Tree, Colorado where he spent his time providing account service-related help to clients.
Parker volunteers as the Co-Program Director of the Louisiana Youth Seminar, a leadership camp for high school students. LYS was founded on the belief if businesses, communities and governments are to have effective leaders in the future, we must help our students develop their core leadership skills, such as communication, setting and achieving goals, team building, understanding and accepting others, developing self-confidence, conducting effective meetings, and team building skills.
Parker is originally from Baton Rouge, Louisiana. He grew up enjoying all the joys Louisiana has to offer. Ranging from diverse foods, culture, music and overall enjoyment of life. He is an avid fan of Louisiana sports teams, including his alma mater LSU and the New Orleans Saints. During football season, Parker never misses an LSU game! Since moving to Colorado, Parker has rejuvenated his love for the outdoors, camping, hikes with his dog Stuart and snowboarding.
Parker volunteers as the Co-Program Director of the Louisiana Youth Seminar, a leadership camp for high school students. LYS was founded on the belief if businesses, communities and governments are to have effective leaders in the future, we must help our students develop their core leadership skills, such as communication, setting and achieving goals, team building, understanding and accepting others, developing self-confidence, conducting effective meetings, and team building skills.
Parker is originally from Baton Rouge, Louisiana. He grew up enjoying all the joys Louisiana has to offer. Ranging from diverse foods, culture, music and overall enjoyment of life. He is an avid fan of Louisiana sports teams, including his alma mater LSU and the New Orleans Saints. During football season, Parker never misses an LSU game! Since moving to Colorado, Parker has rejuvenated his love for the outdoors, camping, hikes with his dog Stuart and snowboarding.
Contact Robert McAllister
Contact William Bowman
Contact Carol Bowman
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
Fred Frillman
Private Banker
About Fred Frillman
Fred Frillman is a Private Banker serving Morgan Stanley Wealth Management offices in Colorado, Utah, and Wyoming.
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.
Fred began his career in financial services in 1995 and joined Morgan Stanley in 2022 as a Private Banker. Prior to joining the firm, he was a Sr. Wealth Management Lending Officer at Bank of America/Merrill Lynch.
Fred is a graduate of the University of Missouri – St. Louis, where he received a Bachelor of Science in Business Administration. He lives in Colorado Springs, Colorado with his family. Outside of the office, Fred enjoys trail running, mountain climbing, skiing, and playing golf. He has completed the Pikes Peak Ascent & Marathon races a combined 7 times. In November of 2023, Fred completed the NYC Marathon as part of the Morgan Stanley & Friends Team that raises funds each year for the American Cancer Society.
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.
Fred began his career in financial services in 1995 and joined Morgan Stanley in 2022 as a Private Banker. Prior to joining the firm, he was a Sr. Wealth Management Lending Officer at Bank of America/Merrill Lynch.
Fred is a graduate of the University of Missouri – St. Louis, where he received a Bachelor of Science in Business Administration. He lives in Colorado Springs, Colorado with his family. Outside of the office, Fred enjoys trail running, mountain climbing, skiing, and playing golf. He has completed the Pikes Peak Ascent & Marathon races a combined 7 times. In November of 2023, Fred completed the NYC Marathon as part of the Morgan Stanley & Friends Team that raises funds each year for the American Cancer Society.
NMLS#: 792152
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Wealth Management
From Our Team
Do You Know Where All Your Retirement Savings Are?
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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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
Iran Conflict: Seven Takeaways for Investors
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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
529 Plans: A Powerful Tool to Save for Education
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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
Ready to start a conversation? Contact The Boulder Legacy Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
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 or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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 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.
5Morgan 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.
6Morgan 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.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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 | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
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 or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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 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.
5Morgan 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.
6Morgan 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.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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 | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
