Laurance R. Clark, CIMA®
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(617) 570-9237(617) 570-9237
The Clark Team at Morgan Stanley
Direct:
(617) 570-9235(617) 570-9235
Toll-Free:
(800) 235-1205(800) 235-1205
Our Mission Statement
As your family financial office, we provide responsive and customized service so as to free your time to grow your business, pursue hobbies and spend quality time with family, friends & community.
Our Story
At The Clark Team, we are a thoughtful and caring team of seasoned professionals with a complementary set of skills, knowledge, and market insights. Working together, we provide customized advice and comprehensive wealth management services to professionals and their families.
Our collective experience has taught us that every client’s circumstances and challenges are unique. We are committed to helping you understand your total financial picture, while navigating the distractions of today’s complex markets. The process we’ve created emphasizes objectivity, transparency and close communication. This enables us to develop tailored strategies that are highly effective and generate positive outcomes.
Over the course of our careers, we have acquired skills in portfolio management and comprehensive financial planning. We are well qualified to build you a detailed plan that is designed to grow and help preserve assets within your portfolio, so you can enjoy a comfortable lifestyle without the worry of outliving your assets. We also have significant experience working with business owners, which includes guiding them in the sale or transition of their business to other family members.
As you begin to work with us, you will experience a standard of care that prioritizes your best interests and treats you as an extension of our family. We are proud of the highly personalized advice and service we deliver and welcome the opportunity to provide this same level of excellence to you and your family.
Our collective experience has taught us that every client’s circumstances and challenges are unique. We are committed to helping you understand your total financial picture, while navigating the distractions of today’s complex markets. The process we’ve created emphasizes objectivity, transparency and close communication. This enables us to develop tailored strategies that are highly effective and generate positive outcomes.
Over the course of our careers, we have acquired skills in portfolio management and comprehensive financial planning. We are well qualified to build you a detailed plan that is designed to grow and help preserve assets within your portfolio, so you can enjoy a comfortable lifestyle without the worry of outliving your assets. We also have significant experience working with business owners, which includes guiding them in the sale or transition of their business to other family members.
As you begin to work with us, you will experience a standard of care that prioritizes your best interests and treats you as an extension of our family. We are proud of the highly personalized advice and service we deliver and welcome the opportunity to provide this same level of excellence to you and your family.
Services Include
- Financial PlanningFootnote1
- Professional Portfolio ManagementFootnote2
- Business PlanningFootnote3
- Retirement PlanningFootnote4
- Planning for Education FundingFootnote5
- Sustainable InvestingFootnote6
- Executive Financial ServicesFootnote7
- Estate Planning StrategiesFootnote8
- Trust ServicesFootnote9
- Alternative InvestmentsFootnote10
- Wealth PlanningFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Experience
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 achieve your goals.
Certified Financial Planner (CFP®)
The Certified Financial Planner® certification is the standard if 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.
Certified Investment Management Analyst (CIMA®)
The Certified Investment Management Analyst® certification is the peak international, technical portfolio construction program for investment consultants, analysts, financial advisors and wealth management professionals. CIMA® certification continues to be the highest level of advanced investment education for client-facing advisors.
Portfolio Management Director (PMD)
The Portfolio Management Director designation allows Financial Advisors to manage investment advisory accounts on a discretionary basis.
Forbes Best-In-State
Forbes has just published its annual ranking of the 2025 Best-In-State Wealth Management Teams in Massachusetts and we are pleased to share that our team has been named to the list!
(Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period from 3/31/23–3/31/24. Awards Disclosures)
Learn More(Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period from 3/31/23–3/31/24. Awards Disclosures)
Personalized Approach
Our four-step process is tailored to you and your family, taking into account your current situation and your goals for the future. Together, we will develop strategies to help you achieve your goals, while navigating life's challenges and making informed decisions.
- Start with a comprehensive conversation to understand your goals, concerns, and desired outcomes.
- Learn about your financial background and risk tolerance.
- Gather essential information about your current financial situation, including income, assets, liabilities, equity awards and company-provided benefits.
- Assess your current financial situation - We will review your finances and goals to create a plan that's right for you.
- Develop a customized plan - We will use our proprietary financial planning software to develop a customized plan that meets your specific goals and objectives. The plan will consider your risk tolerance, time horizon, and other factors.
- "Stress" test your plan - We will stress test your plan to determine the appropriate allocation of investments and the integration of any outside assets.
- We will work with you to implement your plan and make sure that you are on track to reach your goals.
- Schedule regular meetings to ensure your account is set up properly and you have convenient access to your account information.
- Monitor progress towards goals and review investment performance.
- Make recommendations for adjustments to your portfolio as market conditions and your circumstances change to help you stay on track to reach your goals.
Step 1: Discovery
Step 2: Analysis & Plan Development
Step 3: Implementation
Step 4: Ongoing Review Process
Digital Tools
Our goal is simple: "To be the firm where the most talented advisors in the industry leverage cutting-edge technology and deliver customized wealth management solutions to their clients and their families to enable them to achieve their life goals." The Firm strives to ensure it serves clients on market-leading technology platforms that are resilient, safe, efficient, smart, fast, and flexible.
Morgan Stanley Online
Morgan Stanley Online digital capabilities and the Morgan Stanley Mobile App provide clients with access to their account information, enriched reporting tools, several cash management solutions and robust market research. The Morgan Stanley Mobile App provides clients with access to their accounts in just a few taps.
Register for Morgan Stanley Online
E-delivery
eDelivery is a secure electronic delivery service that allows you to view your Morgan Stanley statements and other firm documents online. You can enroll in eDelivery if you are registered in Morgan Stanley Online. Currently, documents available through eDelivery include statements, trade confirmations and prospectuses, general correspondence, selected Internal Revenue Service (IRS) approved tax documents, syndicate offerings, shareholder communications, and portfolio reports.
Enroll in eDelivery
Digital Vault
The Digital Vault on Morgan Stanley Online and the Mobile App is a secure way to build a shared document library with your clients. All documents are stored using encryption, so you can be confident that they are safe and accessible.
Digital Vault
Total Wealth View
Our Total Wealth View platform gives you a single view of all your assets and liabilities, whether they are held at Morgan Stanley or elsewhere. This consolidated view allows me to provide a comprehensive analysis of your entire financial picture.
Learn More
Portfolio Risk Platform
Our Portfolio Risk Platform, backed by institutional-caliber analytics, assesses thousands of risk factors using a holding-based approach to assess a portfolio's exposures, analyze how securities behave together across portfolios and forecast how they influence risk and return moving forward.
Portfolio Risk Platform
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 security.
Security Center
Philanthropic Planning
Your philanthropic objectives are as unique as your vision of a better world. However, it can be challenging to determine your objectives when there are so many worthy causes and unmet needs.
Philanthropic Planning
Morgan Stanley Reserved Insights
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's most valued clients. The program is designed to enhance your lifestyle and relationship with the firm beyond traditional wealth management services.
MS Reserved InsightsSuite of Solutions
As your wealth grows, so does its complexities and the resources needed to manage it. We understand the level of sophistication you expect and provide a comprehensive suite of services to organize and manage your wealth effectively in today’s fast-paced world.
Comprehensive Financial Planning
Thorough and thoughtful financial planning analyzes where you are now and where you want to go. We believe it is the most important step in establishing a path to your goals. Whether you are purchasing a new home, planning for a comfortable retirement or supporting an organization near to your heart, we develop the strategies needed to achieve your goals on schedule and with limited risk.
Professional Portfolio Management
Managing an investment portfolio should be a consultative and disciplined process that balances your attitudes and goals as an investor with careful analysis of the financial markets. You can rely on us for objective and strategic advice in structuring your portfolio and for careful consideration of any investments we consider together.
Risk Management
Life’s risks can surface in many ways – from loss of life to loss of health – and have the potential to impair the efficiency of a carefully developed plan. We help address these concerns through a number of solutions, ranging from an insurance review to liquidity strategies.
Cash Management
Creating adequate cash flow for day-to-day needs and opportunities are the ongoing aspects of implementing a financial strategy. We help you meet your personal cash management needs, while thinking strategically about how specific approaches may affect current and long-term costs and tax implications.
Estate Planning
Passing on an estate to the next generation or favorite charity requires more attention than families often realize. Coordinating with outside estate and tax professionals, we align estate planning goals with the appropriate asset titling and beneficiary designation requirements, while incorporating best practices to help enhance results.
Business Services
The links between ownership and personal wealth are many and complex. Whether your objective is to grow your business, realize its value through a succession strategy or sale, or maintain family ownership through the next generation, we will examine your alternatives and develop the best strategy to implement.
Location
28 State Street
Fl
Boston, MA 02109
US
Direct:
(617) 570-9235(617) 570-9235
Toll-Free:
(800) 235-1205(800) 235-1205
Meet The Clark Team
Phillip Garrett, CFP®
First Vice President, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Workplace Advisor - Equity Compensation
Phone:
(617) 570-9591(617) 570-9591
Aaron Terjanian, CFP®
Associate Vice President, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Workplace Advisor - Equity Compensation
Phone:
(617) 570-2907(617) 570-2907
Andrew Hall
Portfolio Management Associate
Phone:
(617) 570-9462(617) 570-9462
Elena Muller
Registered Client Service Associate
Phone:
(617) 570-9215(617) 570-9215
About Laurance R. Clark
A seasoned professional and founding partner of The Clark Team, Laurance brings a lifetime of experience to his role of Managing Director and Financial Advisor at Morgan Stanley Wealth Management. For more than 40 years, he has been serving the specialized needs of high net worth individuals and families in Boston and the surrounding areas, building a successful practice founded on the principles of integrity, open communication and a steadfast commitment to the needs of his clients.
Growing up in New York City, Laurance was the go-to person for friends seeking financial advice about their personal investments. While he enjoyed researching each opportunity and helping friends become responsible custodians of their wealth, it was the personal satisfaction he experienced helping his friends navigate the world of investments that inspired him to pursue a career in finance.
After earning his Economics degree from Lawrence University, Laurance began his career in the municipal finance and trading operations divisions at Burgess & Leith in Boston. This led to new opportunities as a Financial Advisor at Kidder, Peabody & Co. and UBS, where he first met Jim Yoshizawa, an insightful and like-minded investment professional who would later become his business partner. In 2005 Laurance received his Certified Investment Analyst designation from the Warton Business school at the University of Pennsylvania, further deepening his knowledge of the investment management process.
In 2008 Laurance moved the practice to Morgan Stanley and continued to strategically expand the team. Today, with the addition of Andrew Hall, Eleanor Kreitler, Philip Garret and Aaron Tarjanian, The Clark Team has the skills and capabilities to serve an even broader set of clients, while staying true to Laurance’s founding principles of integrity, ongoing communication and exceptional service. Together, they focus on helping clients grow and preserve their assets before and after retirement.
Laurance’s desire to help others is equaled only by his dedication to his family and his community. He and his wife, Anne, met in college, and now live in Marblehead, MA. They have four grown children, two of whom still live in the Boston area. Laurance sits on a number of nonprofit investment committees where he works diligently to align each organization’s mission and portfolio through socially-responsible investing. Away from the office, Laurance enjoys sailing (and racing), skiing, travelling and reading (especially English military historical fiction and non-fiction).
Growing up in New York City, Laurance was the go-to person for friends seeking financial advice about their personal investments. While he enjoyed researching each opportunity and helping friends become responsible custodians of their wealth, it was the personal satisfaction he experienced helping his friends navigate the world of investments that inspired him to pursue a career in finance.
After earning his Economics degree from Lawrence University, Laurance began his career in the municipal finance and trading operations divisions at Burgess & Leith in Boston. This led to new opportunities as a Financial Advisor at Kidder, Peabody & Co. and UBS, where he first met Jim Yoshizawa, an insightful and like-minded investment professional who would later become his business partner. In 2005 Laurance received his Certified Investment Analyst designation from the Warton Business school at the University of Pennsylvania, further deepening his knowledge of the investment management process.
In 2008 Laurance moved the practice to Morgan Stanley and continued to strategically expand the team. Today, with the addition of Andrew Hall, Eleanor Kreitler, Philip Garret and Aaron Tarjanian, The Clark Team has the skills and capabilities to serve an even broader set of clients, while staying true to Laurance’s founding principles of integrity, ongoing communication and exceptional service. Together, they focus on helping clients grow and preserve their assets before and after retirement.
Laurance’s desire to help others is equaled only by his dedication to his family and his community. He and his wife, Anne, met in college, and now live in Marblehead, MA. They have four grown children, two of whom still live in the Boston area. Laurance sits on a number of nonprofit investment committees where he works diligently to align each organization’s mission and portfolio through socially-responsible investing. Away from the office, Laurance enjoys sailing (and racing), skiing, travelling and reading (especially English military historical fiction and non-fiction).
Securities Agent: NH, DE, CT, ID, SC, NY, MA, LA, VT, TX, PA, MD, OR, ME, KS, GA, CA, NC, MT, DC, TN, MI, WY, NE, IL, FL, VA, MO, NJ, CO, AL, WA, RI, OH; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 176055
CA Insurance License #: 0D12774
NMLS#: 176055
CA Insurance License #: 0D12774
About Phillip Garrett
Phillip Garrett is a highly accomplished Financial Advisor and a designated CERTIFIED FINANCIAL PLANNER™ with The Clark Team at Morgan Stanley. With a client base ranging from individuals to institutions, Phil's primary focus is delivering thoughtful and purposeful advice, firmly grounded in comprehensive wealth planning principles.
Having served in the United States Coast Guard for seven years, Phil's background includes conducting Search and Rescue operations and engaging in maritime law enforcement missions. His sound judgement and disciplined approach to wealth management are reflective of the qualities and skills he cultivated in the Coast Guard. Subsequent to his service, Phil attended the University of Massachusetts in Boston where he earned degrees in Finance and Management.
In addition to his industry knowledge, he brings innovation and a fresh, forward-thinking approach to the team on a daily basis. As verified by the CFP® designation, Phil demonstrates skills in financial, tax and estate planning strategies, as well as investment management and insurance strategies
Given his background in the Coast Guard, it comes as no surprise that Phil holds a deep passion for the water, he holds a 100 Ton Captains License and is an avid fisherman. Phil resides in Cohasset with his wife, three children, and their Boykin Spaniel.
Having served in the United States Coast Guard for seven years, Phil's background includes conducting Search and Rescue operations and engaging in maritime law enforcement missions. His sound judgement and disciplined approach to wealth management are reflective of the qualities and skills he cultivated in the Coast Guard. Subsequent to his service, Phil attended the University of Massachusetts in Boston where he earned degrees in Finance and Management.
In addition to his industry knowledge, he brings innovation and a fresh, forward-thinking approach to the team on a daily basis. As verified by the CFP® designation, Phil demonstrates skills in financial, tax and estate planning strategies, as well as investment management and insurance strategies
Given his background in the Coast Guard, it comes as no surprise that Phil holds a deep passion for the water, he holds a 100 Ton Captains License and is an avid fisherman. Phil resides in Cohasset with his wife, three children, and their Boykin Spaniel.
Securities Agent: NY, MO, MA, DE, TX, RI, MI, ID, GA, CT, PA, OR, ME, NC, CA, VT, NH, MD, IL, AZ, AL, LA, WY, TN, DC, CO, VA, FL, SC, NJ; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1270157
NMLS#: 1270157
About Aaron Terjanian
Aaron is a highly experienced Financial Advisor specializing in serving executives and their families. He is a valued member of The Clark Team at Morgan Stanley, renowned for his expertise in wealth management. As a dedicated CERTIFIED FINANCIAL PLANNER™, Aaron prioritizes acting as a fiduciary, ensuring his clients' best interests are at the forefront of his decision-making process. By developing a deep understanding of their unique needs and aspirations, Aaron works closely with his clients, collaboratively defining their goals and devising optimal investment strategies.
Recognizing the demanding schedules of his clientele, which includes busy professionals and executives, Aaron goes the extra mile to gain an intimate understanding of their intricate financial lives. This empathetic approach allows him to seamlessly integrate the extensive resources and services offered by Morgan Stanley, tailoring them to his clients' complex wealth management strategies. Aaron strives to provide a truly personalized and exceptional level of service, akin to a "white-glove" experience.
Beyond his professional endeavors, Aaron leads a fulfilling personal life alongside his wife Lindsey in Beverly, MA. Together, they share their home with their beloved Bernese Mountain Dog. Aaron obtained his Bachelor of Arts degree in Finance and Accounting from Gordon College, a distinguished Christian liberal arts institution located in Wenham, MA. During his leisure time, he relishes exploring the scenic White Mountains, cherishing quality moments with his family, and embarking on culinary adventures to discover his next favorite restaurant.
Recognizing the demanding schedules of his clientele, which includes busy professionals and executives, Aaron goes the extra mile to gain an intimate understanding of their intricate financial lives. This empathetic approach allows him to seamlessly integrate the extensive resources and services offered by Morgan Stanley, tailoring them to his clients' complex wealth management strategies. Aaron strives to provide a truly personalized and exceptional level of service, akin to a "white-glove" experience.
Beyond his professional endeavors, Aaron leads a fulfilling personal life alongside his wife Lindsey in Beverly, MA. Together, they share their home with their beloved Bernese Mountain Dog. Aaron obtained his Bachelor of Arts degree in Finance and Accounting from Gordon College, a distinguished Christian liberal arts institution located in Wenham, MA. During his leisure time, he relishes exploring the scenic White Mountains, cherishing quality moments with his family, and embarking on culinary adventures to discover his next favorite restaurant.
Securities Agent: NE, MS, VT, SC, OK, IL, DC, TN, NV, AZ, AL, VA, NC, MI, MD, FL, WA, LA, GA, DE, UT, NJ, MA, TX, OR, NH, ND, ME, RI, CO, WY, PA, NY, MO, MN, ID, CT, CA; General Securities Representative; Investment Advisor Representative
NMLS#: 1782928
NMLS#: 1782928
About Andrew Hall
Andrew joined The Clark Team at Morgan Stanley in June, 2014 as a Registered Associate. In his current role as a Portfolio Management (PM) Associate he is committed to providing a consistent and positive client experience whilst overseeing and evaluating the teams overall and individual client portfolios to ensure we are delivering optimum investment performance. He also assists in maintaining and growing new and existing client relationships.
Andrew is focused on our client experience and remains a point of contact for client queries and is responsible for providing administrative and operational support for the team.
Andrew graduated with a Bachelor of Economics and Finance from RMIT University. He grew up in Melbourne, Australia and currently resides in Wakefield, MA with his family.
Away from the office, Andrew enjoys Australian Rules Football, classic cars, travelling and spending time in the garden and with his family.
Andrew.Hall@morganstanley.com
(617) 570-9462
Andrew is focused on our client experience and remains a point of contact for client queries and is responsible for providing administrative and operational support for the team.
Andrew graduated with a Bachelor of Economics and Finance from RMIT University. He grew up in Melbourne, Australia and currently resides in Wakefield, MA with his family.
Away from the office, Andrew enjoys Australian Rules Football, classic cars, travelling and spending time in the garden and with his family.
Andrew.Hall@morganstanley.com
(617) 570-9462
About Elena Muller
Originally from Dallas, TX, Elena recently relocated to Boston, drawn by family ties in the area. She previously served as a Workplace Planning Consultant at Fidelity Investments in Denver, CO, specializing in 401(k) planning and investment strategy. Her diverse background also includes public relations for wealth and asset managers and client sales/success at a FinTech startup.
Outside of work, Elena is an avid athlete who played tennis at Tulane and has recently taken up pickleball. She loves lake activities like wake surfing and skiing and is a proud pet parent to two cats.
Outside of work, Elena is an avid athlete who played tennis at Tulane and has recently taken up pickleball. She loves lake activities like wake surfing and skiing and is a proud pet parent to two cats.
Contact Laurance R. Clark
Contact Phillip Garrett
Contact Aaron Terjanian
Wealth Management
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Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
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Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Clark Team today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
4When 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.
5When 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.
6The 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.
7Morgan 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.
8Morgan 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.
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.
10Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
11Morgan 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.
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.
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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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Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
1Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’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.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
4When 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.
5When 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.
6The 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.
7Morgan 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.
8Morgan 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.
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.
10Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
11Morgan 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.
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.
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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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Awards Disclosures
CRC 6491812 (04/2024)
