Senior Vice President, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(916) 984-3337(916) 984-3337
The Capitol Group at Morgan Stanley
Direct:
(916) 983-8888(916) 983-8888
Toll-Free:
(800) 626-7019(800) 626-7019
Our Mission Statement
Providing custom investment and financial strategies personalized to help you achieve your goals
About Us
The Capitol Group at Morgan Stanley develops and actively maintains customized investment portfolios, financial, and retirement plans for individuals, families and businesses. Our personalized approach helps clients preserve and grow their wealth based on each client’s unique financial needs, personal aspirations and legacy.
We work for each client as if they were our own family members, and strive to build lasting, multi-generational relationships built on trust and superior client service. We have developed relationships that have lasted for decades and span generations. This experience allows us to guide you through every stage of life and family dynamic – from children and grandchildren to college students and aging parents.
Contact us today to see how we can help you achieve your goals.
We work for each client as if they were our own family members, and strive to build lasting, multi-generational relationships built on trust and superior client service. We have developed relationships that have lasted for decades and span generations. This experience allows us to guide you through every stage of life and family dynamic – from children and grandchildren to college students and aging parents.
Contact us today to see how we can help you achieve your goals.
Services Include
- Professional Portfolio ManagementFootnote1
- Estate Planning StrategiesFootnote2
- Trust AccountsFootnote3
- Planning for Individuals with Special Needs
- Financial PlanningFootnote4
- 529 PlansFootnote5
- Exchange Traded FundsFootnote6
- Sustainable InvestingFootnote7
- Fixed IncomeFootnote8
- Cash Management and Lending ProductsFootnote9
- Certificates of DepositFootnote10
- Municipal BondsFootnote11
- Retirement PlanningFootnote12
- 401(k) Rollovers
- Life InsuranceFootnote13
- AnnuitiesFootnote14
- Long Term Care InsuranceFootnote15
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Modern Wealth Tool Cyber Center
Morgan Stanley boasts an array of straightforward digital resources right at your fingertips. Whether it is to access your accounts at a moment's notice, safeguard your assets effectively, and many more.
Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies that we offer our clients.
Welcome to the Modern Wealth Tool Cyber Center
Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies that we offer our clients.
Welcome to the Modern Wealth Tool Cyber Center
Morgan Stanley Online
Morgan Stanley Online allows you to seamlessly and securely manage your investments and everyday finances in one place.
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eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App. It's quick, convenient & secure.
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Total Wealth View
Managing multiple financial accounts across different firms can be complicated. With Morgan Stanley Online and Total Wealth View, you can link your non-Morgan Stanley accounts and analyze your cash flow all in one place
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Goals Based Planning
Goals Planning System (GPS) is Morgan Stanley’s own integrated planning tool. Built on the Firm’s intellectual capital and capabilities, GPS is an intuitive and efficient platform used to quickly assess whether a client is “On Track” to achieving their financial goals.
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Security Center
Learn about our latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
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Digital Vault
Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
Get started today
Total Tax 365
Taxes can be a substantial drag on investment returns. Morgan Stanley Total Tax 365 offers access to a broad range of tax-efficient strategies to help you integrate tax planning into your investment process all year long, maximize portfolio after-tax return potential and help keep more of what you earn.
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Spending and Budgeting Tool
One way to manage savings is by using Morgan Stanley’s Spending and Budgeting tool. These tools help advisors monitor client cash flows across both internal and external accounts. It also tracks spending patterns and produces an income and expense analysis to help clients achieve their goals by adjusting their spending behavior when necessary.
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Discovery Process
Investing the time to learn about you and your family and understanding key personal and financial circumstances and objectives.
Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, to analyze income and estate tax circumstances along with your current balance sheet to identify pertinent gaps and address your objectives.
Creation of a Customized Strategic Asset Allocation
Discuss potential planning and investment recommendations, reflecting risk, opportunities and taxation across various entities.
Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. We must analyze costs associated and potential returns.
Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis, strategies are chosen and implemented from our expansive investment platform.
Ongoing Assessment of Wealth Management Needs
Conduct regular review meetings with clients to ensure plan is up to date and adapts to changing financial and family needs.
Morgan Stanley Resources
At Morgan Stanley, we provide clients with easily digestible financial analysis from our market research experts. Morgan Stanley also provides a comprehensive suite of digital tools to help clients navigate their financial goals. The links below provide further insight on the markets and economic landscape as well as resources to help you get started:
6 Financially Smart Ways to Start 2024
Heading into 2024, it’s time to take stock of your budget, debt and investments—and check them against your financial goals. These six steps can get you started.
Start 2024 on the Right Foot
2024 Income Tax Tables
If you are interested in seeing the updated tax tables and other details for 2024, see all additional information here.
2024 Income Tax TablesFinnacial Literacy for Any Stage of Your Life
It’s never too early or too late to start improving your financial literacy. A great first step is covering the basics. Financial literacy means being equipped with the knowledge to make smart financial decisions during every stage of your life. No matter your current priorities, a strong financial literacy foundation can help you meet your goals.
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Preparing for Retirement: A Simple Six-Step Checkup
Given recent market volatility, checking in on your retirement plan may make a lot of sense.
Check out this article for a wealth of knowledge on how to be in good standing for retirement through the ebbs and flows of the market.
Read MoreCheck out this article for a wealth of knowledge on how to be in good standing for retirement through the ebbs and flows of the market.
The GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Read the Latest Report
On The Markets Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
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Thoughts on the Market Podcast
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
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The Morgan Stanley Minute
Explore our 1-minute investment insights videos, in this on-going series, from our firm's leading thinkers. Discover current investment trends and topics like green bonds, active investment, monetizing small businesses, cybercrime and more.
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How to Handle Volatility
Markets have gotten much more volatile recently. Morgan Stanley experts have put together some tips to handle a volatile environment. Here’s why investors should keep their focus on the long game.
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Ukraine Charitable Giving Guide
Use this guide as a resource to find nonprofit organizations vetted by Morgan Stanley that support humanitarian relief efforts for those impacted by the conflict in Ukraine.
Learn How You Can Support HereResources
The Capitol Group and Morgan Stanley Wealth Management is committed to creating opportunities for women in their careers, their wealth planning and their communities. We’re closing the gap and helping empower females throughout every stage of their lives, with tangible resources, advice and stories.
The Capitol Group is especially focused on empowering women to think big, achieve financial security, navigate unique financial situations and even change the world.
The Capitol Group is especially focused on empowering women to think big, achieve financial security, navigate unique financial situations and even change the world.
Women Without Limits
“At Morgan Stanley, we understand the path to financial empowerment isn’t just different for women — it’s also different among women. Our work with our clients, our employees and within our communities reflects this individualized approach.”
- Kara Underwood, Head of Morgan Stanley Wealth Management Diversity & Inclusion and Home Office Learning
Learn More- Kara Underwood, Head of Morgan Stanley Wealth Management Diversity & Inclusion and Home Office Learning
Women's Playbook
There’s no doubt about it—women face a unique set of financial challenges. Yet, most of us feel ill-equipped to navigate these circumstances on our own. At Morgan Stanley, we have witnessed the power of education and trusted guidance to transform a woman’s relationship with money.
Access the Playbook
6 Money Questions to Ask Your Partner Before You Commit
Thinking of taking the next step with someone special? Head off money headaches by talking about your finances first. Learn more about the conversations you should have.
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Retirement Planning: Why the Stakes Are Higher for Women
While men and women share similar outlooks when it comes to the basic costs and timing of retirement, women face a number of personal and professional challenges that make it more difficult for them to achieve retirement security in their futures.
Read MoreLocation
400 Capitol Mall
Suite 1900
Sacramento, CA 95814
US
Direct:
(916) 983-8888(916) 983-8888
Toll-Free:
(800) 626-7019(800) 626-7019
Fax:
(916) 984-3388(916) 984-3388
2365 Iron Point Road
Ste 235
Folsom, CA 95630
US
Direct:
(916) 984-3337(916) 984-3337
Meet The Capitol Group
First Vice President, Wealth Management, Financial Advisor, CERTIFIED FINANCIAL PLANNER®
Phone:
(916) 341-7604(916) 341-7604
First Vice President, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(916) 341-7622(916) 341-7622
Catherine Dickie
Wealth Management Associate
Phone:
(916) 984-3323(916) 984-3323
Nimanjit Kaur
Registered Client Service Associate
Phone:
(916) 444-8041(916) 444-8041
About Donna McCusker
Donna provides affluent families with a comprehensive wealth management strategy, customized to help meet their needs. Her role is to help simplify the challenges of managing wealth to keep her clients’ goals in line.
Through her personalized process of asking questions, defining priorities, and clarifying goals and values, she creates a roadmap for clients to help achieve their financial and lifestyle goals. By combining years of experience with the resources of Morgan Stanley, Donna seeks to provide boutique style service within a premier global institution.
Through her personalized process of asking questions, defining priorities, and clarifying goals and values, she creates a roadmap for clients to help achieve their financial and lifestyle goals. By combining years of experience with the resources of Morgan Stanley, Donna seeks to provide boutique style service within a premier global institution.
Securities Agent: PA, NM, OR, NE, AZ, OK, CO, WA, VA, NV, NJ, TX, CA, WY, TN, ID, RI, NY, HI, FL, NH; General Securities Representative; Investment Advisor Representative
NMLS#: 1285381
CA Insurance License #: 0A40962
NMLS#: 1285381
CA Insurance License #: 0A40962
About Dawn Hartman Farrell
Dawn has been with Morgan Stanley for 40 years and has served clients from the downtown Sacramento office as a Financial Advisor for the past 25 years.
She takes a very active role in the personal financial planning of her clients by
helping to identify various investment strategies that are appropriate for their ongoing needs. Dawn follows a balanced, conservative philosophy that is designed to instill confidence in her clients . Financial planning is one of the many products and services offered by Morgan Stanley*. Please consult your Financial Advisor for more information about any of our products and services.
She takes a very active role in the personal financial planning of her clients by
helping to identify various investment strategies that are appropriate for their ongoing needs. Dawn follows a balanced, conservative philosophy that is designed to instill confidence in her clients . Financial planning is one of the many products and services offered by Morgan Stanley*. Please consult your Financial Advisor for more information about any of our products and services.
Securities Agent: NC, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WV, AK, AL, AR, AZ, CA, CO, DC, DE, FL, GA, HI, ID, IL, LA, MA, MD, ME, MN, MS, MT; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1301202
CA Insurance License #: 0D15214
NMLS#: 1301202
CA Insurance License #: 0D15214
About Mike Little, CPWA®
Mike Little began his career in finance at Morgan Stanley as a financial advisor. He holds the titles of First Vice President, Portfolio Management Director, and Financial Planning Specialist. Mike works with a select clientele of high-net-worth families and individuals to develop a holistic plan that lays out a clear path to your goals – a plan developed in collaboration with you, and one that you can follow with confidence in the face of the markets’ ups and downs. A personalized approach is a key component of Mike’s practice, taking care of his clients as if they were his own family.
Prior to joining Morgan Stanley, Mike earned his Bachelors in Business Administration from Kaplan University. He is a proud United States Marine Corps veteran, having served in Iraq in 2003.
Outside of work, Mike is the Past commander of his local Veterans of Foreign Wars post in Vacaville, a veteran organization that raises money to take care of other veterans, family, and youth in need. He is active in his town’s rotary club and in his community in many different areas. Mike is involved in his sons Boy Scout Troop, been on the School Site Council, volunteers to help veterans in his community, helps with Vacaville’s Hometown Hero’s Banner program, and is an active voice in his neighborhood and community.
Family is very important to Mike. He has a wife of 17 years as well as three sons aged 23, 15, and 13 and a 9 year old daughter. In his free time, Mike enjoys fishing, hunting, woodworking, and golf. He also enjoys collecting whiskey.
Prior to joining Morgan Stanley, Mike earned his Bachelors in Business Administration from Kaplan University. He is a proud United States Marine Corps veteran, having served in Iraq in 2003.
Outside of work, Mike is the Past commander of his local Veterans of Foreign Wars post in Vacaville, a veteran organization that raises money to take care of other veterans, family, and youth in need. He is active in his town’s rotary club and in his community in many different areas. Mike is involved in his sons Boy Scout Troop, been on the School Site Council, volunteers to help veterans in his community, helps with Vacaville’s Hometown Hero’s Banner program, and is an active voice in his neighborhood and community.
Family is very important to Mike. He has a wife of 17 years as well as three sons aged 23, 15, and 13 and a 9 year old daughter. In his free time, Mike enjoys fishing, hunting, woodworking, and golf. He also enjoys collecting whiskey.
Securities Agent: WV, WA, VT, VA, TX, TN, RI, PA, OR, OK, OH, NV, ME, MT, NJ, MD, NC, MA, IL, ID, HI, GA, FL, DC, SC, CO, NY, NM, AZ, AL, CA; General Securities Representative; Investment Advisor Representative
NMLS#: 1312693
CA Insurance License #: 0I44830
NMLS#: 1312693
CA Insurance License #: 0I44830
About Catherine Dickie
Catherine is a Wealth Management Associate with over 16 years in the financial services industry, joining Morgan Stanley in 2013. Catherine attended Sacramento State University, earning her Bachelor of Science in Business Administration. Before beginning her career with Morgan Stanley, she worked with an independent financial advisor.
Catherine enjoys building strong relationships with her clientele. She strives to deliver first class service, in a first class way. This ensures a pleasant experience from initial onboarding and throughout her clients’ financial journey. She remains dedicated to her team, Morgan Stanley, and most importantly her clientele.
Catherine currently resides in Midtown Sacramento. During her free time, she enjoys exercising, reading, winetasting, and attending various cultural events near the State Capitol and the greater Sacramento area.
Catherine enjoys building strong relationships with her clientele. She strives to deliver first class service, in a first class way. This ensures a pleasant experience from initial onboarding and throughout her clients’ financial journey. She remains dedicated to her team, Morgan Stanley, and most importantly her clientele.
Catherine currently resides in Midtown Sacramento. During her free time, she enjoys exercising, reading, winetasting, and attending various cultural events near the State Capitol and the greater Sacramento area.
Contact Donna McCusker
Contact Dawn Hartman Farrell
Contact Mike Little, CPWA®
Wealth Management
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Portfolio Insights
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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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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
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
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.
Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
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Ready to start a conversation? Contact The Capitol 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’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4Morgan Stanley 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.
5Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
6An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
7The 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.
8Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
9Morgan 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
10Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
11Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
12When 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.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
4Morgan Stanley 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.
5Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
6An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
7The 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.
8Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
9Morgan 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
10Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
11Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
12When 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.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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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.
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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.
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Awards Disclosures
CRC 6491812 (04/2024)
