Our Story & Services

Throughout our team’s tenure, we have developed a strong and active practice that proudly represent our community. Whether our clients live in the Morristown area or have moved across the country, we have found they all need professional guidance with the following financial needs. As we begin to work together, we are confident you will come to regard the team as a trusted steward, here to help you make informed decisions on any financial challenge you face.

• Planning for a successful retirement
•Managing taxes
• Approaching a life-changing event with confidence, such as the sale of a business or the loss of a spouse
• Saving effectively so children can attend their colleges of choice
• Financing a major acquisition
• Maximizing the impact of charitable contributions
• Leaving a lasting legacy
Our Clients Include
  • Multi-generational families
  • Retirees and those planning for retirement
  • Professionals in medicine, finance and education
  • Business owners and self-made entrepreneurs
  • Institutions and nonprofits
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

Team Updates, Events and Replays

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Domestic Abuse and Sexual Assault Intervention Services of Sussex County
In October, Steve, Paul, Taylor, and Connor participated in "A Day on the Green with DASI", the 4th Annual Par-4 Survivors Golf Outing at Newton Country Club, benefitting the Domestic Abuse and Sexual Assault Intervention Services of Sussex County. It was a beautiful day and a great way to support a truly special organization.
PMI 2024
In June, our team traveled to Austin, Texas to attend the 2024 Portfolio Management Institute Annual Forum. It is a four-day event to learn about new investment strategies and trends, practice management, the political landscape, and better ways to use the systems and platforms at Morgan Stanley.
2023 Forbes/SHOOK Top Wealth Advisors
On April 26, our team attended the 2023 Forbes/SHOOK Top Wealth Advisors event in New York City. This annual event honors top teams across the industry for their continued leadership in providing clients with exemplary service and the resources needed to reach their financial goals. We are truly blessed and thankful for the opportunity to serve our clients, and we are humbled by this honor.
Family Wealth Director Northeast Region Continuing Education Development Day
Steve attended the Morgan Stanley Family Wealth Director Northeast Region Continuing Education Development Day in New York City. Family Wealth Directors have direct access to an extensive range of unique resources needed to help affluent families manage the complex, multigenerational challenges of handling significant wealth. The event was a great opportunity to learn more about the firms Intellectual Capital and differentiated thinking, as well as to exchange ideas with colleagues.

Steve is pictured with his longtime friend and colleague, Rich Slater, Managing Director, Sales Manager of Morgan Stanley’s Northeast Region.

Personalized Process

Individuals and families hire us to help them manage their current wealth, while achieving future goals. Through each step of our process, we provide objective advice and investment insights to construct a plan that is uniquely yours.
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    1. Establish Financial Objectives
    We start with a conversation to understand your entire financial picture. We work with you to establish a realistic set of objectives based on your financial goals, time horizon, liquidity needs and tolerance to volatility and risk.
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    2. Define Investment Strategy
    Our team works with you to assess various scenarios and advise you on the appropriate strategies designed to meet those goals. We develop an investment strategy designed to help produce optimal portfolio performance: the highest return potential consistent with the strategy’s level of risk.
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    3. Evaluate and Select Investments
    We look across multiple accounts and products to identify the combination that helps you invest tax efficiently and meet your spending needs. We leverage the global resources of Morgan Stanley to select investments to implement your personal strategy.
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    4. Ongoing Review Process
    Together we will review of your financial situation periodically with the ability to recommend adjustments according to your needs, life events and changing market conditions. You have the ability to track your portfolio’s performance relative to your stated objectives—and modify the portfolio on a discretionary basis as your needs and circumstances change over time.

Certifications, Designations & Awards

Our Team has the extensive experience, specialized training and resources necessary to help our clients address their unique goals and aspirations. Read below to understand more about our designation and how Morgan Stanley can help you achieve your goals.
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    Forbes/SHOOK 2023-2025 Best-In-State Wealth Management Teams
    Forbes (Awarded Jan 2023-2025). Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/24.

    Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure.html
    View Complete List
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    Stephen J Brady: Forbes Best-In-State Wealth Advisor (2019-2025)
    2019-2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com (Awarded 2019-2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.

    Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure.html
    Forbes Profile
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    Certified Financial Planner®
    The Certified Financial Planner® certification is the standard of excellence in financial planning. CFP® professionals meet rigorous education, training and ethical standards, and are committed to serving their clients' best interests today to prepare them for a more secure tomorrow.
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    Certified Portfolio Manager®
    The CPM® curriculum involves in-depth study of fundamental analysis, option valuation, foreign currency exchange, credit default swap structure and valuation analysis, and asset allocation. Working with Consulting Group, we develop and manage portfolios personalized to suit the specific needs of clients.
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    Chartered Financial Consultant®
    The ChFC® covers knowledge on tax and retirement planning, special needs advising, wealth management, and insurance.
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    Family Wealth Director
    The Family Wealth Director designation is given to those who have extensive experience working with ultra-high net worth families, and who have undergone specialize training. FWDs have direct access to an extensive range of resources needed to help highly affluent families manage the complex, multigenerational challenges of managing significant wealth.
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    Executive Financial Services Director
    The Executive Financial Services Director focuses on helping corporate executives and key insiders effectively navigate the complex landscape of insider trading regulations and reporting requirements.

Morgan Stanley Materials

At Morgan Stanley, we provide clients with easily digestible financial analysis from our market research experts. The links below provide further insight on the markets and economic landscape.
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    GIC On the Markets
    The Global Investment Committee's Lisa Shalett headlines this monthly look at markets, asset class performance and fixed income.
    Read the latest article
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    The Morgan Stanley Minute
    Explore insights on today’s most important investment topics, including green bonds, active management, cybercrime and monetizing small business.
    Watch the MSM
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    Security Center
    Safeguarding your assets and information is one of our highest priorities, but you also have a critical role to play. Check out our collection of practical takeaways and best practices from our cybersecurity professionals, then explore a few of the ways we help protect you.
    What You Should Know
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    Philanthropy Management
    For many clients, giving to family or charitable causes is an important goal. As a Financial Advisor, we can attempt to help clients determine the right strategy for realizing such goals while maximizing the value of gifts. Remember, that you should obtain advice from your legal or tax advisor when deciding which gifting strategy is right for them.
    Learn More Here
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    Legacy & Estate Planning
    The aging process can be challenging whether clients are looking to develop a plan for themselves, or trying to figure out the best way to support their parents. Elder care may be a complicated, emotional process but being informed and having a clear plan that prioritizes the desires and preferences of the aging individual is the first step to success. Read the article below to learn more.
    Access the Article Here
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    Financial Literacy & Wealth Education
    Financial literacy means being empowered with the knowledge to make smart financial decisions during every stage of life.

    Morgan Stanley has financial literacy resources for every age, wealth level and type of organization to help you support your clients and their families. Provide information to help build healthy financial habits and spark meaningful discussions.
    Financial Literacy
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    Social Security COLA Increase
    Starting in January 2023, Social Security payments will go up by 8.7%.

    The Social Security Administration has adjusted benefits payments annually for inflation since 1975. According to the SSA, Social Security benefits and Supplemental Security Income (SSI) payments are adjusted to reflect any increase in the cost of living as measured by the Consumer Price Index (CPI).
    Social Security Fact Sheet
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    2024 Federal Tax Table
    This document outlines the 2024 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information.
    View 2024 Tax Table
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    2025 Federal Tax Table
    This document outlines the 2025 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information.
    View 2025 Tax Table
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    2023 Maximum Benefit & Contribution Limits
    This document highlights the maximum benefit contribution limits from 2017-2023.
    View Maximum Benefit & Contribution Limits
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    Secure 2.0 Act
    Congress recently passed the SECURE 2.0 Act of 2022, which was signed into law by President Biden on December 29, 2022. SECURE 2.0 is a significant piece of retirement legislation that is intended to make it easier for businesses to offer retirement plans and for individuals to save for retirement.
    Fact Sheet

WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

Our mission is to help your company elevate your workplace financial benefits—helping you to attract and retain top talent. Our end-to-end solutions support your company and employees at any stage of growth through a powerful combination of modern technology, insightful guidance, and dedicated service.

    Equity Solutions

    Equity ownership is a powerful motivator. Streamline equity management through our leading-edge technology and provide global audit-ready reporting and insights, alongside customizable participant experiences to engage and educate your employees on how to make the most of their benefits. Our global solutions support private and public companies at any stage of growth.

    • Equity Administration and Financial Reporting
    • Liquidity Events
    • 409A Valuation Services and Cap Table Management

    Learn more
    Retirement

    For your employees, retirement is more than a date in the future—it's a milestone that takes time, hard work, and the right tools. Through our consultative process, we strive to assist with the management of your fiduciary responsibilities and risk, simplify plan management, and help you improve retirement readiness for your employees.

    • Defined Contribution Consulting
    • Solutions-Oriented Plans
    • Fiduciary Investment Oversight

    Learn more
    Deferred Compensation

    Access a range of Nonqualified Deferred Compensation plan services or pick the ones that best fit your needs. We provide recordkeeping and plan design, portfolio construction services, and plan education for your executive talent. We help you determine the appropriate plan design and inform a funding strategy through a needs-based assessment and consultative approach.

    Services include:

    • Recordkeeping and Plan Design
    • Portfolio Construction
    • Wealth Management Services
    Learn more
    Executive Services

    Our dedicated team provides concierge-level support for your executives' equity compensation plans, from 10b5-1 trading plans to form filing related to Rule 144 transactions, to access to wealth management and tax-optimization strategies, so helping them navigate their complex financial needs with greater confidence and certainty:

    • Equity Compensation Services
    • Equity Award Analysis
    • Specialized Solutions
    Learn more
    Saving and Giving

    Saving and Giving benefits can make a real difference in your employees' lives as they can support the things that matter most to them—like saving for education and repaying student loans. Show that you are committed to your employees' priorities with leading-edge solutions that help them chart a path toward financial well-being.

    • College Savings
    • Student Loan Repayment and Refinancing
    • Charitable Giving
    Learn more
    Financial Wellness

    We offer Financial Wellness with every solution we provide. Through a powerful combination of education, digital tools and guidance, Financial Wellness is designed to address the unique needs of your employees and empower their financial journey at every stage. Give your employees the confidence to take charge of their finances.

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

Location

340 Mount Kemble Avenue
Morristown, NJ 07960
US
Direct:
(973) 425-2306(973) 425-2306
20 Linden Place
Red Bank, NJ 07701
US
Direct:
(732) 936-3384(732) 936-3384

Meet The Brady Wealth Management Group

Photo of Donna Colucci

Donna Colucci

Sr. Client Service Associate
Phone:
(973) 425-2388(973) 425-2388
Photo of Maria Reino

Maria Reino

Senior Registered Associate
Phone:
(973) 425-3886(973) 425-3886
Photo of Monica Brown

Monica Brown

Client Service Associate
Phone:
(973) 425-8558(973) 425-8558
Photo of Pam Hadley

Pam Hadley

Senior Registered Associate
Phone:
(732) 936-3321(732) 936-3321

About Stephen J Brady

Steve brings a lifetime of experience to his role as a wealth management professional. Upon graduating from Boston College with a degree in Accounting, Steve sought a career that would bring his interest and aptitude for finance together with his desire to make a real difference in people’s lives. Steve joined the Morgan Stanley family in 1983 and has proudly served as a financial advisor ever since, eventually being named an Executive Director of the firm.

Throughout Steve's career, he has been committed to ongoing education for himself and his clients. Steve earned his CFP® designation from the Certified Financial Planner Board of Standards and his Chartered Financial Consultant® designation from the American College. Steve also achieved the following designations at Morgan Stanley: Family Wealth Director, Wealth Advisor, Executive Financial Services Director, Senior Investment Management Consultant and Portfolio Management Director. Each certification provides access to exclusive resources across the firm. He also is a member of the Portfolio Management Institute, an independent, membership-supported association of Morgan Stanley Portfolio Managers. Steve currently serves on PMI’s Board and is a past President and former Treasurer.

Steve is honored to work with an exceptional group of clients. He comes to work each day focused on guiding them through the market’s ups and downs, helping them maintain the discipline required to achieve their long-term goals in any market environment.

As a proud father of three grown children, family is very important to Steve, as it is to his clients. Steve also believes in giving back. Steve is a lifetime member of the National Eagle Scout Association, a member of the Pastime Club of Mendham, a volunteer at the Somerset Hills Visiting Nurse Association and has served on several committees of the Somerset Hills YMCA. He is also a past president of the Mendham H.S. Football Booster Club and participated in the Financial Planning Association’s pro-bono program for those affected by 9/11. Outside the office, Steve likes to golf, travel and spend time with his wife, Carole, and his family.

Stephen J Brady: Forbes Best-In-State Wealth Advisor (2019-2023)

2019-2023 Forbes Best-In- State Wealth Advisors Source: Forbes.com (Awarded 2019-2022). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.

Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: OR, WI, NC, MD, CT, SC, NY, MA, AZ, VT, NM, ME, KY, TX, OH, IN, VA, MN, MI, DE, WY, GA, FL, CA, TN, NJ, DC, WA, UT, PA, NV, IL, CO, RI; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1406597

About H. Alan Gabelmann

Securities Agent: NY, MN, VA, UT, PA, NM, FL, NV, WA, MA, DC, CT, VT, TN, OH, WI, NC, TX, SC, RI, ME, KY, CO, AZ, MD, OR, NJ, MI, IN, IL, GA, DE, CA, WY; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1275812

About Paul Murray

I would be remiss if I said that Wealth Management was my first choice as a career. An Education major in college, working seven summers at a camp for the visually handicapped during high school and college, my career path was tilted in a much different direction. As I look back over the years, the seeds for a career in finance was sown early…I just didn’t recognize it at the time. I can honestly say we didn’t have much growing up, but we felt as though we had enough. We had food on the table and a roof over our head. Vacations were not extravagant; the Jersey shore was just fine. Dinner out was limited to the local Howard Johnsons and Mario’s for pizza. My parents had modest paying jobs but still managed to pay off the house over the years like many of their generation. They believed in payroll deduction, Savings Bonds and in my mother’s case a Stock Purchase Plan. When I needed spending money the reply I often heard was “money doesn’t grow on trees you know”, you had to figure another way. I mowed a lot of lawns and shoveled more snow then I care to remember but I survived. I believe our practice reflects the values of the people and experiences that have mentored me along the way. We take a very practical and common sense approach to our investing. We believe that your financial success is a series of small steps strung together to reach the end goal. Our mantra is this: you do the best you can to control what you can control and minimize what you can’t. Markets move up, down and sideways…that movement is out of our control. Creating and sticking to a plan is within our reach.Assisting individuals and families make sensible decisions about their future has been extremely rewarding. We also take pride in our work in the community. Our culture of giving back has led to volunteer opportunities with organizations such as the Community Food Bank of NJ, the Seeing Eye, Habitat for Humanity and Special Olympics.
Securities Agent: WI, CT, WY, TX, VA, OH, IL, DE, CO, WA, MI, SC, RI, KY, GA, AZ, FL, VT, OR, MD, IN, NV, NM, NJ, MN, MA, CA, TN, PA, NY, NC, ME; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1274441

About Taylor C Brady

Having been exposed to the financial industry at a young age, I have always had a passion and interest for helping people with their financial future. Since joining the firm, I have combined my industry experience and passion to assist clients in creating a financial plan that helps solve for their goals.

After graduating from Syracuse University in 2015, I spent 6 years at another financial institution, in a variety of roles focused on transformation and improving the client experience. In these roles, I learned how to look at problems differently and find unique solutions for my stakeholders. I use these skills, as well as those learned through my Financial Planning Specialist designation, to help solve my clients’ individual wealth needs and make financial planning a more manageable process.

Outside of work, I enjoy traveling, playing golf, and walking throughout NYC and the surrounding areas.
Securities Agent: ID, HI, WI, MN, IN, GA, DE, CT, CO, WY, VA, TX, MA, KY, MI, UT, RI, IL, NJ, CA, OH, MD, FL, PA, OR, NV, ME, AZ, DC, VT, SC, NM, NC, WA, TN, NY; General Securities Representative; Investment Advisor Representative
NMLS#: 2290380

About Connor Brady

Growing up as the son of a Financial Advisor exposed Connor from an early age to the Financial Services industry, and more specifically, Wealth Management. It was during this time that he solidified his desire to enter into a career which would allow him to assist clients to reach their long-term goals and objectives.

Connor graduated from Boston College in 2019 with a degree in Finance and spent the following 4 years with Eaton Vance (now a part of Morgan Stanley Investment Management) as an Internal Consultant covering major brokerage firms throughout the Midwest, as well as the Greater Los Angeles area. In April of 2023, Connor earned his CFP® designation from the Certified Financial Planner Board of Standards.

Connor is a lifetime member of the National Eagle Scout Association, as well as an active member of the Boston College Graduates of the Last Decade (GOLD) Committee. Outside of work, Connor enjoys golf, travel, and spending time with family and friends.
Securities Agent: MA, MN, IL, HI, PA, NV, MI, IN, VT, OR, OH, AZ, UT, TX, KY, CO, SC, NY, NM, MD, DE, CA, WI, VA, TN, NJ, NC, WY, RI, FL, DC, ID, CT, WA, ME, GA; General Securities Representative; Investment Advisor Representative
NMLS#: 2496636

About Donna Colucci

“Taking pride in providing that personal touch for our clients, that’s what nourishes the overall relationship.”

Given 18 years of experience with Morgan Stanley, Donna is committed to providing clients with the utmost level of service. She’s very passionate about developing long standing relationships, seeing clients through many life events and is always there to offer that level of gentle support. She’s very committed to handling the daily operational tasks necessary to support the financial relationship.

Donna began her career right out of high school and began working in the banking industry. Shortly thereafter, had an opportunity to enter the commodity world. She joined Cargill and learned about soft commodities, trading strategies, hedging, foreign currencies etc. This knowledge allowed for her journey to continue at a prestigious international commodity house, Phibro Salomon, where she provided operational support for the Coffee, Sugar and Cocoa desk. With that gained experience, she joined the trading desk as a futures trader handling hedging strategies for the physical sugar and cocoa business.

In the mid-80s, as she began to start a family, Donna left the full time hustle and bustle of the markets, and did consulting work supporting corporate counsel with select commodity cases.

Joining Morgan Stanley in 2004 granted her an opportunity to broaden her knowledge of the financial industry.

Donna finds being a Mom to her now 3 grown children to be life’s greatest joy. Recently she’s been blessed with grandchildren. She enjoys creating moments and memories with her family (including all the 4 legged ones) by travelling, exploring, having family get togethers, going for adventurous bike rides and long walks on the beach.

About Pam Hadley

Pam fosters relationships of both new and existing clientele, accomplished by providing first class service predicated on a commitment to organize, prioritize and customize solutions. She is responsible for administrative management, proficient with retail investment products and trading, retirement and estate planning. Pam is focused on modernizing our client relationships with introductions to our digital capabilities.

Pam's industry experience spans 40 years, having worked for Merrill Lynch, Smith Barney, and UBS Financial Services. Pam holds a Bachelor of Science degree from Fairleigh Dickinson University.
Wealth Management
Global Investment Office

Portfolio Insights

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Equity Compensation

Helping you make the most of your equity awards and better understand how it may fit into your your larger financial picture – today and tomorrow.

  • Vesting events
  • Option expirations
  • Restricted stock units
  • Tax implications

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
Learn More about Retirement
4 Financially Smart Ways to Take Money Out of Retirement Accounts
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4 Financially Smart Ways to Take Money Out of Retirement Accounts

Discover how planning for required minimum distributions from retirement accounts can help you fund future needs and support loved ones.

Investing

Working closely with you to guide your wealth and investments through the most challenging market cycles.
  • Asset Management
  • Wealth Planning
  • Traditional Investments
  • Alternative Investments
  • Impact Investing
Learn More about Investing
2025 Global Economic Outlook: U.S. Policies May Temper Global Growth
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2025 Global Economic Outlook: U.S. Policies May Temper Global Growth

Global growth is likely to be around 3% in 2025 and 2026, as tariff and immigration policies begin to slow the U.S. economy late next year, and China's underperformance restrains emerging markets.

Family

Creating customized financial strategies for the challenges that today’s families face.
  • Estate Planning Strategies
  • 529 Plans / Education Savings Planning
  • Long Term Care Insurance
  • Special Needs Planning
  • Trust Services
Learn More about Family
Taking Control of Your Finances After Death of a Spouse
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Taking Control of Your Finances After Death of a Spouse

Financial planning after a divorce or death can be trying, but with the right approach and the right advice you can turn a difficult situation into empowerment.

Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Qualified Retirement Plans
Learn More about Business Planning
Financial Planning for Life After Selling a Business
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Financial Planning for Life After Selling a Business

Selling your business can mean big changes for your life, both personally and financially. Know how to make the most of your windfall.

Philanthropy

Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
  • Endowments
  • Foundations
  • Donor Advised Funds
  • Impact Investing
Learn More about Philanthropy
Donor Advised Funds: A Smart Way to Manage Your Giving 
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Donor Advised Funds: A Smart Way to Manage Your Giving 

There’s more to charitable giving than you may realize. Here’s one method that may be a tax-efficient way to give and can help maximize your impact.

Mosaic

Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
Learn More about Mosaic
A Change of Greenery
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A Change of Greenery

Houseplants add oxygen, flair, and warmth year-round, and the right one in the right space can do just as much for a room as any painting or side table.

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.
Learn More about Financial Wellness
The Business Case for a Financially Resilient Workforce
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The Business Case for a Financially Resilient Workforce

In the face of turbulent markets, the word “resilience” may be top of mind. Broadly speaking, resilience is the ability to “bounce back” when encountering life’s inevitable challenges.
Ready to start a conversation? Contact The Brady Wealth Management 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 Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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2Morgan 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.

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3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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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.

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5Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.

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6When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.

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7When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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8The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.

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9Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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Awards Disclosures
CRC 6491812 (04/2024)