Senior Vice President, Financial Advisor, Portfolio Management Director, Alternative Investments Director
Phone:
(682) 233-7158(682) 233-7158
Our Mission Statement
Experience, intellectual capital and dedicated personal service to help you meet your life goals with the highest level of professionalism.
Our Story and Services
The Davis and Smith Group is a distinguished wealth management team at Morgan Stanley. Led by a team of seasoned professionals, our advisors draw from a rich tapestry of experience and an innate understanding of the complexities that govern the financial realm. We believe that true wealth is not measured merely by monetary value, but by the fulfillment of dreams and aspirations. By forging deep and meaningful connections with each client, we embark on a journey together, seeking to unlock the true potential of their financial endeavors.
Our team of investment professionals understands that most individuals possess a unique set of ambitions, challenges, and desires, which is why we tailor our approach to suit their specific needs. It is this personalized touch that that we believe sets us apart, for we understand that truly effective planning lies in the details. Through our collaborative efforts we deliver insightful and forward-thinking strategies to align with each person’s unique set of goals, their values, and work with them to identify opportunities available for their capital.
In our pursuit of excellence, we leverage the full breadth and resources of Morgan Stanley, a global institution renowned for its commitment to quality and innovation. With access to the industry’s leading wealth and investment management firm we harness the collective power of a vast network of specialists, cutting-edge technology, and a wealth of research, helping propel our clients towards unparalleled success.
Our work is not merely about wealth accumulation; it is about crafting legacies and empowering generations to come. With Davis, Smith, and Associates at your side, you can trust that your financial aspirations are in the hands of a team that personifies humility, diligence, and an unwavering dedication to your financial well-being.
Our team of investment professionals understands that most individuals possess a unique set of ambitions, challenges, and desires, which is why we tailor our approach to suit their specific needs. It is this personalized touch that that we believe sets us apart, for we understand that truly effective planning lies in the details. Through our collaborative efforts we deliver insightful and forward-thinking strategies to align with each person’s unique set of goals, their values, and work with them to identify opportunities available for their capital.
In our pursuit of excellence, we leverage the full breadth and resources of Morgan Stanley, a global institution renowned for its commitment to quality and innovation. With access to the industry’s leading wealth and investment management firm we harness the collective power of a vast network of specialists, cutting-edge technology, and a wealth of research, helping propel our clients towards unparalleled success.
Our work is not merely about wealth accumulation; it is about crafting legacies and empowering generations to come. With Davis, Smith, and Associates at your side, you can trust that your financial aspirations are in the hands of a team that personifies humility, diligence, and an unwavering dedication to your financial well-being.
Services Include
- Wealth ManagementFootnote1
- Alternative InvestmentsFootnote2
- Professional Portfolio ManagementFootnote3
- Executive Financial ServicesFootnote4
- Stock Option PlansFootnote5
- Financial PlanningFootnote6
- Trust ServicesFootnote7
- Estate Planning StrategiesFootnote8
- Long-term Care InsuranceFootnote9
- Endowments and FoundationsFootnote10
- Donor Advised Funds
- Planning for Individuals with Special Needs and their Families
- Retirement PlanningFootnote11
- 401(k) Rollovers
- UGMA/UTMAFootnote12
- 529 PlansFootnote13
- Life InsuranceFootnote14
- Cash Management and Lending ProductsFootnote15
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Working With You
We believe that identifying financial solutions begins with a solid understanding of each client's situation, goals, objectives and risk tolerance. We follow a disciplined process that enables us to work with you to craft strategies that are designed to help you meet your individual financial needs.
Our Process
- Develop a thorough understanding of your financial goals and objectives
- Review and analyze your current financial situation
- Identify and tailor strategies that can help you meet your individual needs
- Integrate tactical asset allocation to adjust portfolio exposure based on market conditions
- Implement your customized strategy, including personalized services and benefits
- Review your strategy, meeting periodically to discuss your goals and needs
Servicing Overview - Personalized planning and financial education
- Custom investment portfolio design, management and risk monitoring
- Exclusive private equity, credit and real-estate investment strategies
- Trust and estate planning strategies and dedicated services
- High-touch with direct and regular engagement
Professional Investment Management
We offer a broad range of specialized solutions to clients across a variety of asset classes. Backed by the deep resources of Morgan Stanley and focused on long-term performance, our group seeks to deliver unique strategies to solve for investors most complex challenges.
Capital Markets
An integrated organization across fixed income, equities, and structured investments leveraging the thought leadership of Morgan Stanley Research and dedicated product specialists to identify key investment opportunities to help enhance the growth potential of diversified portfolios.
Alternative Investments
Our leading alternatives platform offers 200+ third-party and proprietary funds, including first look and exclusive opportunities, that may help qualified investors enhance returns, reduce volatility, manage taxes and generate income. From simplified vehicles available more broadly to institutional strategies, the platform supports a goals-based approach for asset allocation tailored to investor needs.
Morgan Stanley Alternative Investments
Global Investment Office
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Morgan Stanley Portfolio Insights
Portfolio Risk Platform
Our Portfolio Risk Platform, backed by institutional-caliber analytics, assesses thousands of risk factors using a holdings-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
Tax Management Solutions
The tax decisions you make today can help you save for years to come. Using Morgan Stanley’s Total Tax 365 approach may help you save on taxes, build more wealth and maximize your giving.
Your Life, Your Wealth: Planning for Your Financial Future
Managing your finances is about more than managing your investments. We aim to understand your financial goals and work with you to create a plan designed to help you achieve them. As your dedicated advisory team, we take a holistic approach to support many aspects of your financial life - including budgeting, cash management, retirement planning and other financial goals.
Financial Planning
Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our cutting edge tools- Goals Planning System (GPS) and LifeView.
Morgan Stanley Goals-Based Wealth Management
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, manage unrealized gains and help keep more of what you earn.
Learn More
Insured Solutions
As a leader in the distribution of insurance and annuities, our offerings include disability, long-term care and property & casualty insurance, as well as fixed, indexed and variable annuities. Morgan Stanley offers these products in conjunction with its licensed insurance agency affiliates.
Morgan Stanley Insured SolutionsCapital Markets
An integrated organization across fixed income, equities, and structured investments leveraging the thought leadership of Morgan Stanley Research and dedicated product specialists to identify key investment opportunities to help enhance the growth potential of diversified portfolios.
Our Clients
We help people just like you, in every stage of life.
Whether you are looking to take full advantage of your stock options and retirement plan, seeking diversification with private market investments, interested in strategies for tax-efficient investing, or need straight forward advice - we have solutions.
Business Owners (including family businesses)
By combining our team's expertise and Morgan Stanley's resources, we are able to provide you and your business with guidance on the financial aspects of running a successful business, including employee benefits, tax planning strategies, and business planning, and more.
Corporate Executives
As a senior executive, you have important responsibilities to your customers, colleagues. board of directors, shareholders and members of the comunities where you operate. Our team brings a unique combination of experience, knowledge, and insight to effectively address your financial needs and goals.
High Net-Worth Investors
We have experience working with high net-worth individuals and families, providing comprehensive wealth management services, including investment management, estate planning, and risk management, tailored to help you meet your unique goals and needs.
Individuals Nearing or Already Retired
The uncertainty of retirement can be overwhelming. Our solutions aim to instill confidence in your financial future and provide peace of mind so you can focus on your work and family. Whether you're planning for retirement or looking to turning your savings into income as you transition into retirement, we are here to consult you on all of your financial needs.
Mid-Career Professionals & Their Families
We serve mid-career professionals and their families who are established in their vareers and navigating key life milestones, providing expert guidance in wealth management, retirement planning, and education planning.
Non-Profits, Foundations, & Endowments
We empower non-profit entities to leverage their resources and amplify their impact. We take pride in being a dynamic and collaborative partner, dedicated to helping our clients expand both their social influence financial capacity.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
3230 Camp Bowie Blvd
Ste 625
Fort Worth, TX 76107
US
Direct:
(682) 299-7158(682) 299-7158
Meet The Davis And Smith Group
Vice President, Financial Advisor, Executive Financial Services Director, Alternative Investments Director, Senior Portfolio Manager
Phone:
(682) 233-7157(682) 233-7157
Phone:
(817) 820-2219(817) 820-2219
Fabrice Onomo
Registered Client Service Associate
Phone:
(817) 820-2250(817) 820-2250
About Tyler Davis
Tyler began his career in the last Financial Crisis, shaping his investment philosophy of “portfolio construction through financial planning”. After making the move to Merrill Lynch in 2011 from a regional broker-dealer, he had a vision of how he wanted to build his practice and worked for many years shaping what would later be titled as Davis, Smith and Associates. The success and growth of the group is attributed to the emphasis placed on Financial Planning and seeking to provide a financial partnership for the retail client with a “white-glove” service model.
A highly credentialed advisor, Tyler holds both his CRPC® CPWA® designations to ensure the highest level of advice for clients.
In September 2022, Tyler moved his team to Morgan Stanley after seeing the competitive advantage given his team’s clientele. Davis, Smith and Associates work with Executive level clients at publicly traded companies and specialize in comprehensive strategies for these individual’s future retirement. The team also assists in advising clients around trust and estate planning strategies, legacy formation and transfer, education planning, and providing various lending and liquidity options.
Tyler holds his Chartered Retirement Planning Counselor through the College of Financial Planning to ensure myopic focus in the retirement space. He also holds his Portfolio Management Director title enabling him to build custom portfolios for each of his client’s unique needs.
Tyler is a Certified Private Wealth Advisor professional, recognized through the Investments & Wealth Institute. Tyler successfully completed his executive course through the Yale School of Management in 2024.
Tyler, his wife Brittany, and their son proudly call Fort Worth Texas home. Tyler is actively philanthropic and regularly participates in community events. He serves as a board member for the highly acclaimed community organization titled “Taste Project” that focuses on providing for those who are food insecure.
A highly credentialed advisor, Tyler holds both his CRPC® CPWA® designations to ensure the highest level of advice for clients.
In September 2022, Tyler moved his team to Morgan Stanley after seeing the competitive advantage given his team’s clientele. Davis, Smith and Associates work with Executive level clients at publicly traded companies and specialize in comprehensive strategies for these individual’s future retirement. The team also assists in advising clients around trust and estate planning strategies, legacy formation and transfer, education planning, and providing various lending and liquidity options.
Tyler holds his Chartered Retirement Planning Counselor through the College of Financial Planning to ensure myopic focus in the retirement space. He also holds his Portfolio Management Director title enabling him to build custom portfolios for each of his client’s unique needs.
Tyler is a Certified Private Wealth Advisor professional, recognized through the Investments & Wealth Institute. Tyler successfully completed his executive course through the Yale School of Management in 2024.
Tyler, his wife Brittany, and their son proudly call Fort Worth Texas home. Tyler is actively philanthropic and regularly participates in community events. He serves as a board member for the highly acclaimed community organization titled “Taste Project” that focuses on providing for those who are food insecure.
NMLS#: 853145
About Miles Smith
Miles Smith is a Vice President of Wealth Management at Morgan Stanley and co-founder of the Davis, Smith & Associates Wealth Management Group. As one of the team’s lead advisors, Miles oversees investor services, portfolio management and strategies for financial planning.
Davis, Smith & Associates serve a select group of families and businesses, working directly with them to navigate the complexities of their financial lives in an evolving economy. Miles understands the unique nature of investor’s goals, needs, preferences, and financial situations, and is why he believes in taking a personalized approach to employing strategies for one’s vision and objectives. Moreover, Miles and his team are not beholden to any one investment product or manager, so clients can rest assured each team member is working with an open mind and a fiduciary perspective.
“I have the pleasure of working with clients directly. Our team’s commitment is to provide personalized guidance, a unique experience, and be a financial partner they can trust so they can focus on what matters most.”
Davis, Smith & Associates serve a select group of families and businesses, working directly with them to navigate the complexities of their financial lives in an evolving economy. Miles understands the unique nature of investor’s goals, needs, preferences, and financial situations, and is why he believes in taking a personalized approach to employing strategies for one’s vision and objectives. Moreover, Miles and his team are not beholden to any one investment product or manager, so clients can rest assured each team member is working with an open mind and a fiduciary perspective.
“I have the pleasure of working with clients directly. Our team’s commitment is to provide personalized guidance, a unique experience, and be a financial partner they can trust so they can focus on what matters most.”
NMLS#: 1580936
About Me
In the year 2000, Tes launched his financial services career in the private banking sector, working as a financial advisor with Edward Jones. Tes then joined Merrill Lynch in 2007 where he helped his clients navigate the last financial crisis as a Senior Financial Advisor and Vice President, until he transitioned to Morgan Stanley in 2022.
Tes and his wife Sarah reside in Grapevine Texas with their two loyal cats. He is passionate about both professional and collegiate sports, with an emphasis on soccer. Tes played soccer during his time in England before moving to the states. He also has a passion for golf and adventurous travel.
Tes feels that getting to know his clients on a personal level is of upmost importance. He works to simplify their financial lives by giving them access to some of the top research in the industry with Morgan Stanley and active phone communication.
Tes and his wife Sarah reside in Grapevine Texas with their two loyal cats. He is passionate about both professional and collegiate sports, with an emphasis on soccer. Tes played soccer during his time in England before moving to the states. He also has a passion for golf and adventurous travel.
Tes feels that getting to know his clients on a personal level is of upmost importance. He works to simplify their financial lives by giving them access to some of the top research in the industry with Morgan Stanley and active phone communication.
Securities Agent: GA, AR, IL, MT, AL, WA, NM, FL, AZ, SC, OR, NV, NH, ID, WY, TX, OH, NY, LA, DE, NC, MD, WI, UT, CO, CA, PA, OK, MS, VA, TN, MI, ME, RI, NJ, KS, IA, MN, MA, KY; General Securities Representative; Investment Advisor Representative
About Fabrice Onomo
Fabrice is a registered client associate on The Davis and Smith Group. He has spent most of his career in the wealth management industry, providing clients with custom advice and personalized solutions. Fabrice holds his Series 7 and Series 66 licenses and earned his bachelor’s degree from the University of Texas at Arlington.
What sets Fabrice apart is his integrity, work ethic, and dedication to our clients. He understands that every client is unique and has their own set of financial objectives and challenges. He takes the time to listen carefully and collaborates with his team to design strategies to meet their goals. Fabrice’s commitment to client’s is unwavering – he has a genuine passion for helping clients succeed with an exceptional level of quality service.
Outside of the office, Fabrice is an avid Real Madrid fan, enjoys drawing, cooking, and has been to every continent except Antarctica. Fabrice believes the best things in life are the people we love and those memories that keeps us smiling.
What sets Fabrice apart is his integrity, work ethic, and dedication to our clients. He understands that every client is unique and has their own set of financial objectives and challenges. He takes the time to listen carefully and collaborates with his team to design strategies to meet their goals. Fabrice’s commitment to client’s is unwavering – he has a genuine passion for helping clients succeed with an exceptional level of quality service.
Outside of the office, Fabrice is an avid Real Madrid fan, enjoys drawing, cooking, and has been to every continent except Antarctica. Fabrice believes the best things in life are the people we love and those memories that keeps us smiling.
Contact Tyler Davis
Contact Miles Smith
Contact Tes Somji
Hear From Our Clients
Tyler Davis is responsive, thoughtful, and easy to work with. He has taken the time to understand my goals and has helped
me build a clear, practical financial plan. He explains options in plain language, lays out tradeoffs without pressure, and
follows up quickly whenever I have questions. His guidance has helped me feel more confident about staying on track, even
as my priorities evolve. Most importantly, it is a pleasure to work with a professional and caring person.
Amir
Verified ClientFebruary 18, 2026
Tyler and his team make it a priority to get to know us as much more than just clients. They take the time to find out what we truly want in retirement and what our comfort level is with risk. Tyler always asks our opinions on strategies and communicates thoroughly the level of risk we are assuming with any given strategy. The biggest compliment we can give Tyler and his team is that we trust them completely and know they always have our best interests in mind.
Ed and Julia
Verified ClientFebruary 18, 2026
Tyler Davis is outstanding and has made an incredible difference for my family. Working together for over 10 years, I find him incredibly knowledgeable but he also has a way of explaining complex financials in a way that is easy to digest. Since joining Tyler and his team we have had more peace of mind and clarity about our financial path than ever before. Tyler does more than manage assets, he builds a trusted relationship that gives us total confidence that our legacy will be protected.
Stuart
Verified ClientFebruary 22, 2026
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
5285589 3/2026
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Randy Payne
Senior Private Banker | Market Manager
James Barrett
Vice President
Joe Saadi
Trust Specialist
About Randy Payne
Randy Payne is a Senior Private Banker | Market Manager serving Morgan Stanley Wealth Management offices in Texas, Louisianna, and Mississippi.
Senior Private Banker | Market Managers partner with Financial Advisors/ Private Wealth Advisors (collectively “Advisors”) to deliver specialized cash management and lending solutions, while strategically leading sales activity and deepening client engagement across Wealth Management markets to drive growth aligned with long-term business and client objectives.
Randy began his career in financial services in 1993 and joined Morgan Stanley in 2014 as a Private Banker. Prior to joining the firm, he was a Divisional Sales Director at Wells Fargo Advisors.
Randy is a graduate of Rensselaer Polytechnic Institute, where he received a Bachelor of Science in Management. He lives in Northlake, Texas with his family. Outside of the office, Randy enjoys spending time in Oxford, Mississippi with his family cheering on Ole Miss football and baseball teams.
Senior Private Banker | Market Managers partner with Financial Advisors/ Private Wealth Advisors (collectively “Advisors”) to deliver specialized cash management and lending solutions, while strategically leading sales activity and deepening client engagement across Wealth Management markets to drive growth aligned with long-term business and client objectives.
Randy began his career in financial services in 1993 and joined Morgan Stanley in 2014 as a Private Banker. Prior to joining the firm, he was a Divisional Sales Director at Wells Fargo Advisors.
Randy is a graduate of Rensselaer Polytechnic Institute, where he received a Bachelor of Science in Management. He lives in Northlake, Texas with his family. Outside of the office, Randy enjoys spending time in Oxford, Mississippi with his family cheering on Ole Miss football and baseball teams.
NMLS#: 1214288
About James Barrett
James Barrett is a vice president and financial planning director serving Morgan Stanley Wealth Management offices in Dallas/Fort Worth. He is responsible for helping financial advisors with their clients’ and prospects’ financial planning needs.
James began his career in financial services in 2014 and joined Morgan Stanley in 2025. Prior to his current position, he worked for JPMorgan Chase and UBS.
James graduated from University of Arkansas and holds his CERTIFIED FINANCIAL PLANNER™ designation. James lives in Dallas, Texas. Outside of work, James is an avid fly fisherman, cyclist, and wildlife photographer.
James began his career in financial services in 2014 and joined Morgan Stanley in 2025. Prior to his current position, he worked for JPMorgan Chase and UBS.
James graduated from University of Arkansas and holds his CERTIFIED FINANCIAL PLANNER™ designation. James lives in Dallas, Texas. Outside of work, James is an avid fly fisherman, cyclist, and wildlife photographer.
About Joe Saadi
Joseph Saadi is the Regional Trust Specialist for Morgan Stanley’s Central Region. Within the Trust Services Group, Joe is responsible for delivering the “Open Architecture” trustee platform, which consists of several unaffiliated third-party trust companies who serve in a fiduciary, agency or custodial role for high-net-worth and ultra-high-net-worth families. Joe and the Trust Services Group help Morgan Stanley Financial Advisors, clients, prospects and the professional community understand the corporate trustee services available through Morgan Stanley and how their corporate trustee partners provide fiduciary services to clients. The process involves reviewing trust documents and statements as well as analyzing family dynamics. Joe then uses this information to help clients select one or more of the Firm’s corporate trustee partners to possibly serve as trustee, co-trustee or administrative agent for client trust accounts.
Prior to joining the firm, Joe’s 30 years of legal and comprehensive wealth planning experience include positions as Managing Director at TIAA Trust Company, Market Trust Director at JP Morgan Trust Company, Trust & Estate Specialist at Merrill Lynch Trust Company, and District Attorney General at the Ohio Attorney General’s Office.
Joe obtained his Bachelor of Science in Business Administration degree from John Carroll University and his Juris Doctor from Cleveland-Marshall College of Law. Joe is a member of the State Bar of Ohio and holds his Series 7 and 66 licenses.
Prior to joining the firm, Joe’s 30 years of legal and comprehensive wealth planning experience include positions as Managing Director at TIAA Trust Company, Market Trust Director at JP Morgan Trust Company, Trust & Estate Specialist at Merrill Lynch Trust Company, and District Attorney General at the Ohio Attorney General’s Office.
Joe obtained his Bachelor of Science in Business Administration degree from John Carroll University and his Juris Doctor from Cleveland-Marshall College of Law. Joe is a member of the State Bar of Ohio and holds his Series 7 and 66 licenses.
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
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.
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 trusts, estate planning, charitable giving, philanthropic planning and other legal matters.
Morgan Stanley 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.
Trusts are not necessarily appropriate for all clients. There are risks and considerations which may outweigh any potential benefits. Establishing a trust will incur fees and expenses which may be substantial. Trusts often incur ongoing administrative fees and expenses such as the services of a corporate trustee, attorney, or tax professional.
Trust services are provided by third parties who are not affiliated with Morgan Stanley. Neither Morgan Stanley nor its affiliates are the provider of such trust services and will not have any input or responsibility concerning a client’s eligibility for, or the terms and conditions associated with these trust services. Neither Morgan Stanley nor its affiliates shall be responsible for any advice or services provided by the unaffiliated third parties. Morgan Stanley or its affiliates may participate in transactions on a basis separate from the referral of clients to these third parties and may receive compensation in connection with referrals made to them.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
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.
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 trusts, estate planning, charitable giving, philanthropic planning and other legal matters.
Morgan Stanley 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.
Trusts are not necessarily appropriate for all clients. There are risks and considerations which may outweigh any potential benefits. Establishing a trust will incur fees and expenses which may be substantial. Trusts often incur ongoing administrative fees and expenses such as the services of a corporate trustee, attorney, or tax professional.
Trust services are provided by third parties who are not affiliated with Morgan Stanley. Neither Morgan Stanley nor its affiliates are the provider of such trust services and will not have any input or responsibility concerning a client’s eligibility for, or the terms and conditions associated with these trust services. Neither Morgan Stanley nor its affiliates shall be responsible for any advice or services provided by the unaffiliated third parties. Morgan Stanley or its affiliates may participate in transactions on a basis separate from the referral of clients to these third parties and may receive compensation in connection with referrals made to them.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
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 Davis And Smith Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Morgan 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
6Morgan Stanley 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.
7Morgan 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.
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.
9Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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.
11When 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.
12Morgan 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.
13Investors 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.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Morgan 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
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Morgan 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
6Morgan Stanley 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.
7Morgan 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.
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.
9Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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.
11When 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.
12Morgan 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.
13Investors 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.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Morgan 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
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
