Our Story and Services

The Deaton Group advises founders, business owners, family offices, and families whose financial lives have grown more complex over time.

Many of the clients we serve have built significant wealth through operating companies, leadership roles, or long-term investing. Their financial lives often extend beyond investment portfolios to include businesses, real estate, private investments, and complex financial structures.

Our role is to help clients think through important financial decisions and bring clarity, coordination, and disciplined execution to those decisions through Morgan Stanley.

Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

Wealth Management

For founders, business owners, and individuals who have built significant wealth, investment management is rarely the whole picture. The more important decisions often involve liquidity, concentrated positions, taxes, real estate, and what capital should be doing over the long term.

We work with clients whose financial lives extend beyond a portfolio. That includes businesses, private investments, real estate, family priorities, and long-term planning objectives. The goal is a coordinated approach to capital that holds together across time, not just at the moment of a transaction.

When institutional portfolio management, alternative investments, or global market capabilities are needed, we bring the full resources of Morgan Stanley to the table.

    Lending & Liquidity

    Access to liquidity is often most valuable before it becomes urgent. For founders and business owners, the ability to move without being constrained by timing or capital structure can be a meaningful advantage.

    We work with clients whose capital is tied across portfolios, businesses, real estate, and private investments. In those situations, the thoughtful use of credit can create flexibility, support growth, or preserve long-term investment strategy without disrupting what is already working.

    Morgan Stanley's lending capabilities, including securities-based lending, residential financing, and tailored credit solutions, are available when the situation calls for them.

      Founders, Business Owners, & Executives

      Many of the founders, business owners, and executives we work with have built significant wealth through operating companies or leadership roles. Their most important financial decisions rarely fit inside a single category. Liquidity, ownership structure, concentrated positions, real estate, and long-term capital allocation often need to be addressed together.

      Our role is to help clients think through those decisions clearly, in the right order, before execution begins. We coordinate across legal, tax, and other professional advisors with a focus on outcomes rather than products.

      When the situation calls for capital markets access, financing solutions, or institutional execution, we bring the relevant resources of Morgan Stanley to the table.

        Family Office

        Doug's perspective is shaped in part by experience within a multi-billion-dollar family office environment, where capital allocation, liquidity, governance, and long-term stewardship were evaluated through an institutional lens.

        Today, The Deaton Group works with families and family office leadership whose financial lives often extend beyond investment portfolios to include operating businesses, private investments, real estate, and complex financial structures.

        Our role is to help evaluate financial decisions involving capital markets, private investments, real estate, and liquidity. We focus on outcomes over products and bring the relevant capabilities of Morgan Stanley to the table when institutional access, execution, or financing solutions matter.

          Location

          301 Congress Avenue
          Suite 1400
          Austin, TX 78701
          US

          Meet The Deaton Group

          Photo of Patty Brueckner

          Patty Brueckner

          Senior Registered Client Service Associate
          Phone:
          (512) 370-0481(512) 370-0481

          About Doug Deaton

          Doug Deaton is a Financial Advisor at Morgan Stanley and co-founder of The Deaton Group. He advises founders, business owners, family offices, and families on important financial decisions involving liquidity, ownership, capital allocation, and long-term planning.

          Doug's perspective is shaped by experience on both sides of the table. As an entrepreneur and operator, he experienced firsthand the realities of building and leading a business. Later, within a multi-billion-dollar family office environment, he worked through the financial decisions that follow success, including liquidity events, capital structure, governance, and long-term stewardship.

          Today he helps clients evaluate tradeoffs, establish direction, and make important decisions deliberately rather than reactively.

          Doug lives in downtown Austin with his wife and partner, Rachel.
          Securities Agent: IN, DE, MT, FL, NC, WA, KS, LA, CA, GA, CO, AR, OK, IL, TX, NY, VA, NJ; General Securities Representative; Investment Advisor Representative
          NMLS#: 1857665

          About Rachel Deaton

          Rachel Deaton is a Financial Advisor at Morgan Stanley and co-founder of The Deaton Group. She works with founders, business owners, and families to help ensure important financial decisions are carried out with coordination, discipline, and follow-through.

          Her background spans business development, project management, and venture creation, giving her a practical understanding of how financial decisions affect businesses, families, and the people responsible for both.

          Clients value Rachel for her steadiness, responsiveness, and ability to bring order to complex situations.

          Rachel lives in downtown Austin with Doug.
          Securities Agent: KS, NC, MT, GA, VA, TX, DE, CO, AR, NJ, IL, LA, FL, WA, OK, NY, IN; General Securities Representative; Investment Advisor Representative
          NMLS#: 2172891

          About Patty Brueckner

          Patty Brueckner is Senior Registered Client Service Associate for The Deaton Group at Morgan Stanley. She helps anchor the client experience through precise execution, strong follow-through, and day-to-day continuity.

          Patty brings experience across retail banking, retirement services, and equity compensation. She works closely with clients and across Morgan Stanley resources to keep complex processes organized, responsive, and client-focused.
          Wealth Management
          Global Investment Office

          Portfolio Insights

          Read More about On the Markets
          Read "On the Markets"

          Retirement

          Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
          • 401(k) Rollovers
          • IRA Plans
          • Retirement income strategies
          • Retirement plan participants
          • Annuities
          Learn More about Retirement
          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
          Learn More about Investing
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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
          Learn More about Family
          529 Plans: A Powerful Tool to Save for Education
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          529 Plans: A Powerful Tool to Save for Education

          Though education costs continue to climb, starting to save and invest early can make a difference.

          Business Planning

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

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

          Philanthropy

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

          There's more to charitable giving than you may realize. Here's one method that may be a tax-efficient way to give and can help maximize your impact.
          Ready to start a conversation? Contact The Deaton Group today.
          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.
          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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          2Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

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

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          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.

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          4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

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          5Alternative 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.

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          6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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          7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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          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:
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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.

          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.

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          Awards Disclosures | Morgan Stanley
          CRC 4665150 (8/2025)