Tod E Frick, CFP®, CIMA®
Executive Director, Financial Advisor, Senior Portfolio Management Director
Phone:
(251) 990-2944(251) 990-2944
The DFD Group at Morgan Stanley
Tod E Frick, CFP®, CIMA®Leonardo D SilvaFrancisco D D'Oliveira, CFP®, CRPC®Sarah K. UnfriedWilliam Dorriety, CFA, CFP®
Direct:
(251) 990-2939(251) 990-2939
Toll-Free:
(877) 886-1777(877) 886-1777
Our Mission Statement
Excellence in family wealth planning with a global perspective and personalized approach.
Our Story
Life is always in flux. Goals evolve. Circumstances change. The market fluctuates.
The DFD Group at Morgan Stanley is dedicated to navigating these transitions while building and preserving wealth for our clients. We recognize that behind every investment dollar is a dream, goal or responsibility and we are stewards of those dollars.
Serving affluent clients both domestically and abroad, the DFD Group at Morgan Stanley provides customized planning geared to individual objectives. We offer informed financial guidance at critical stages of life, such as the approach of retirement, opening or selling of a business, succession planning, the birth of a child or death of a spouse or parent.
Our team possesses decades of experience and members have obtained the following certifications and designations:
• Certified Investment Management Analyst
• International Client Advisor
• Certified Financial Planner
• Chartered Retirement Planning Counselor
Clients of the DFD Group at Morgan Stanley benefit from having a multigenerational, multilingual team with varied backgrounds and complementary skills and experience, including international investing.
We are committed to responding promptly to our client’s needs and putting their personal investment goals and strategies first.
The DFD Group at Morgan Stanley is dedicated to navigating these transitions while building and preserving wealth for our clients. We recognize that behind every investment dollar is a dream, goal or responsibility and we are stewards of those dollars.
Serving affluent clients both domestically and abroad, the DFD Group at Morgan Stanley provides customized planning geared to individual objectives. We offer informed financial guidance at critical stages of life, such as the approach of retirement, opening or selling of a business, succession planning, the birth of a child or death of a spouse or parent.
Our team possesses decades of experience and members have obtained the following certifications and designations:
• Certified Investment Management Analyst
• International Client Advisor
• Certified Financial Planner
• Chartered Retirement Planning Counselor
Clients of the DFD Group at Morgan Stanley benefit from having a multigenerational, multilingual team with varied backgrounds and complementary skills and experience, including international investing.
We are committed to responding promptly to our client’s needs and putting their personal investment goals and strategies first.
The DFD Group's Quarterly Newsletter
- View our Q4 2026 newsletter linked below. Enjoy!
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
OUR PROCESS: FOCUSED ON YOU
1. Discover
Your life and experiences are important to us and the role it plays on your finance goals. We take time to learn what your lifestyle and family needs are.
2. Create
We develop a tailored roadmap to begin to help you build your wealth and identify objectives that are specific and measurable to you. We formulate corresponding financial obligations to fulfill what you care about.
3. Act
Next, we help you implement the strategies we formulate together and craft a goals based plan. This allows us to address both the dreams you hope to achieve and the risk of outliving your assets. With a plan in place we can better consider risks beyond volatility and implement the strategies we formulate together.
4. Adjust
Achieving your goals requires vigilance and flexibility. We help monitor your progress to keep you on track toward your goals and make adjustments as life evolves, markets shift, and priorities change.
For successful families, business owners, executives, and globally connected individuals, wealth planning is rarely about a single portfolio. It is about coordinating investments, retirement income, tax-aware strategies, estate and legacy goals, liquidity needs, philanthropy, and family decision-making across generations.
The DFD Group at Morgan Stanley helps clients worldwide build personalized wealth strategies designed around the people, responsibilities, and opportunities that matter most.
- Families seeking to preserve, grow, and transfer wealth across generations.
- Business owners preparing for succession, liquidity events, or retirement.
- Executives and professionals with concentrated stock, deferred compensation, or complex benefit plans.
- Internationally connected families with financial lives that cross borders.
- Retirees and pre-retirees seeking coordinated income, investment, and legacy planning.
- Investment Strategy — portfolio construction, asset allocation, risk management, and tax-aware implementation.
- Retirement Planning — income planning, spending strategy, Social Security, pensions, and healthcare considerations.
- Estate & Legacy Planning Coordination — working with attorneys and tax professionals to align wealth transfer goals.
- Business Transition Planning — succession, liquidity needs, sale proceeds, and post-transaction planning.
- Family Governance & Education — helping families prepare the next generation for responsibility and stewardship.
- International Wealth Considerations — planning for families with global assets, international ties, or cross-border complexity.
- Discover — understand your family, business, values, risks, and goals.
- Design — create a personalized roadmap across investments, planning, lending, cash management, and legacy considerations.
- Coordinate — work alongside your tax, legal, and other professional advisors where appropriate.
- Implement — put the agreed strategy into action using Morgan Stanley's platform and resources.
- Review & Adjust — revisit the plan as markets, family needs, tax laws, and life circumstances evolve.
- A multigenerational, multilingual team.
- Experience serving affluent clients domestically and abroad.
- Team credentials including CFP®, CIMA®, CRPC®, and CFA® designations.
- Fairhope and Mobile presence with access to Morgan Stanley's broader wealth management resources.
- Experience across financial planning, retirement planning, portfolio management, cash management, lending, and insurance-related needs.
Who We Help
Planning Priorities We Address
Our Approach
Why The DFD Group?
Community Events
Here at the DFD Group, we take pride in helping our own in anyway. Below are some of the few examples of how we try and support our community.
Point Clear Rotary Clay Shoot
The DFD Group at Morgan Stanley's Fairhope branch sponsored an event at the Point Clear Rotary Clay Shoot.
Prodisee Pantry
The DFD Group at Morgan Stanley and the Morgan Stanley Fairhope branch volunteered to assist in packaging food
at the Prodisee Pantry.
at the Prodisee Pantry.
College Football Kick Off
The DFD Group at Morgan Stanley's Fairhope Branch participated with other branch members in the College Football Kick Off! It was a great time and awesome to see everyone supporting their teams!
Baller Dream Foundation
The DFD Group at Morgan Stanley and the Morgan Stanley Fairhope branch had great representation by Sarah Unfried at the Baller Dream Race which supports the Baller Dream Foundation.
Common Questions We Are Asked
What differentiates The DFD Group?
What truly differentiates our team is our multigenerational perspective. As a multigenerational team ourselves, we understand both the importance and the complexity of planning for families across generations. We bring the knowledge and experience to help clients navigate multigenerational wealth management, prepare for the transfer of wealth, and address the family dynamics that are often central to legacy planning.
Do you work with clients outside of Alabama?
Yes! While our offices are based in Alabama, we provide service to clients both across the country and internationally.
Do you provide both financial planning and investment management?
Absolutely - we specialize in both planning and management services for our clients.
Do you have a CERTIFIED FINANCIAL PLANNER® on your team?
Yes we have 3 on our team. Tod Frick, Fran D'Oliveira, and Greg Dorriety all hold the CFP® Designation.
Do members on the team hold any other designations?
Yes - across our team we have members holding the CFA®, CIMA®, and CRPC® designations. Greg Dorriety holds the CFA® designation, Tod Frick holds the CIMA® designation, and Fran D'Oliveira holds the CRPC® designation.
Can you help with 401(k) rollovers?
Yes, we have an experienced team in dealing with 401(k) rollovers.
Do you work with executives with stock compensation?
Our team has a deep knowledge and resources to help you with your stock compensation.
What services do you provide (planning, investments, retirement, estate planning coordination)?
All of the above! Our team frequently assists our clients with planning, investment, retirement, and estate planning strategies.
Can you help with retirement planning (401(k), IRA, Roth IRA, pensions)?
Yes - we commonly help our clients in planning for their retirement. Do you provide tax planning services? While we do not directly advise on your taxes, we coordinate with your tax advisor and help implement tax-aware strategies.
Do you provide tax planning services?
While we do not directly advise on your taxes, we coordinate with your tax advisor and help implement tax-aware strategies.
Can you help with cash management and lending solutions?
While we are not a bank, we have the ability to offer certain banking related 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
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
7530 Parker Road
Suite 100
Fairhope, AL 36532
US
Direct:
(251) 990-2939(251) 990-2939
Toll-Free:
(877) 886-1777(877) 886-1777
RSA Battle House Tower 11 N Water St Suite 16290
Mobile, AL 36602
US
Meet The DFD Group
Leonardo D Silva
Senior Vice President, Financial Advisor, Portfolio Management Director
Phone:
(251) 990-2932(251) 990-2932
Francisco D D'Oliveira, CFP®, CRPC®
Senior Vice President, Branch Manager, International Client Advisor
Phone:
(251) 990-2938(251) 990-2938
Sarah K. Unfried
Financial Advisor, Financial Planning Specialist, Portfolio Manager
Phone:
(251) 990-2931(251) 990-2931
William Dorriety, CFA, CFP®
First Vice President, Financial Advisor, Portfolio Manager
Phone:
(251) 990-2933(251) 990-2933
Dominque Sanders
Portfolio Associate
Phone:
(251) 990-2953(251) 990-2953
Henrique Mendes
Registered Client Service Associate
Phone:
(251) 990-2958(251) 990-2958
About Tod E Frick
Beginning his career in wealth management with Merrill Lynch, Tod has been a financial advisor since 1992. He moved to Morgan Stanley in 2010 with Sergio D'Oliveira to form The DFD Group, which later added Fran D’Oliveira, Sergio’s son, Leo Dutra, and Sarah Souers. The DFD Group has been serving clients both nationally and internationally with their team ever since.
Growing up in Baton Rouge, LA, Tod put himself through college and attended Louisiana State University, receiving his degree in finance. He currently holds the designations of Certified Investment Management Analyst (CIMA®) and Certified Financial Planner (CFP®). In order to better serve his clients, Tod’s certifications allow him to stay at the leading edge of the financial industry.
Tod and his team work closely with their clients to help define objectives, explore alternatives, and choose the financial and investment strategies most appropriate. They service clients all over the world; an opportunity that not only broadens Tod’s perspective, but also gives him a more in-depth, global view of investing and financial planning – a unique perspective in the industry.
Tod has lived in Fairhope, AL for over 20 years. When out of the office, Tod enjoys spending time with his wife, Lisa, children, Mills and Emery, and their three dogs, Pearl, Porter and Minnie. He also enjoys golfing, fishing, and hunting with Lisa and their dogs.
Growing up in Baton Rouge, LA, Tod put himself through college and attended Louisiana State University, receiving his degree in finance. He currently holds the designations of Certified Investment Management Analyst (CIMA®) and Certified Financial Planner (CFP®). In order to better serve his clients, Tod’s certifications allow him to stay at the leading edge of the financial industry.
Tod and his team work closely with their clients to help define objectives, explore alternatives, and choose the financial and investment strategies most appropriate. They service clients all over the world; an opportunity that not only broadens Tod’s perspective, but also gives him a more in-depth, global view of investing and financial planning – a unique perspective in the industry.
Tod has lived in Fairhope, AL for over 20 years. When out of the office, Tod enjoys spending time with his wife, Lisa, children, Mills and Emery, and their three dogs, Pearl, Porter and Minnie. He also enjoys golfing, fishing, and hunting with Lisa and their dogs.
Securities Agent: MA, VI, IN, GA, FL, AK, WI, MN, KS, DE, CO, WY, OH, IL, AZ, AR, TX, WA, PA, NY, NJ, MI, MD, KY, CT, NC, OR, OK, LA, AL, RI, NV, CA, SC, MS, MO, VA, TN, NM, ME; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1253202
NMLS#: 1253202
About Leonardo D Silva
An investment professional in the industry since 2000, Leonardo started his career in financial services with Merrill Lynch in Rio de Janeiro, Brazil prior to moving to the United States and joining The DFD Group. Born and raised in Rio de Janeiro, Brazil, Leonardo attended the Universidade Federal do Rio de Janeiro where he received his BA in Economics. Studying in Brazil and working within the different economies has provided Leo with an excellent understanding and grasp of international financial markets.
Leonardo spearheads individual investment selection for The DFD Group, serving as Senior Vice President at Morgan Stanley.
He currently resides in Fairhope, AL with his wife, Dana, and stepson, Taylor. While out of the office, Leonardo enjoys traveling, playing tennis, and spending time with family and friends.
Leonardo spearheads individual investment selection for The DFD Group, serving as Senior Vice President at Morgan Stanley.
He currently resides in Fairhope, AL with his wife, Dana, and stepson, Taylor. While out of the office, Leonardo enjoys traveling, playing tennis, and spending time with family and friends.
Securities Agent: IL, AK, VI, NY, NJ, MD, FL, WY, VA, OK, AR, RI, PA, NC, MI, LA, MS, MA, GA, AZ, WA, TX, SC, OH, NM, KS, CA, TN, MN, CO, NV, ME, KY, OR, IN, DE, AL, WI, MO, CT; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1265042
NMLS#: 1265042
About Francisco D D'Oliveira
An experienced Financial Advisor since 2001, Francisco began his career in the financial services industry at Merrill Lynch. In 2010, Francisco, along with The DFD Group, joined Morgan Stanley to take full advantage of the highly-ranked global research and breadth of resources available within the firm. An integral member of the DFD Group, Francisco creates, implements, and maintains retirement plans for businesses, and develops customized tax and estate strategies for his team’s retirees. In order to better serve his clients and stay at the leading edge of the financial industry, Francisco holds the designations of Chartered Retirement Planning Counselor (CRPC®) and Certified Financial Planner (CFP®).
In addition to developing and deepening relationships with his clients, Francisco runs operations for the DFD Group, drives the cash management services, supports and implements Morgan Stanley’s expansive digital offerings, and now acts as the Branch Manager of Morgan Stanley’s Mobile and Fairhope Branches, where he encourages and oversees the branch's Financial Advisors and their support teams.
Though born in Brazil, Francisco grew up in Mobile, AL and graduated from The University of Georgia with a Bachelor’s Degree in Banking and Finance. A dual citizen of US and Brazil, Francisco embodies a more global view of investing and financial planning – a unique perspective in the industry. He now lives in Fairhope, AL with his wife, Amanda, and their son, Sergey.
Series 66, Series 7, Series 9, Series 10, Series 31, Wealth Management, Retirement Planning, Asset allocation, Cash Management and Lending Solutions
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
In addition to developing and deepening relationships with his clients, Francisco runs operations for the DFD Group, drives the cash management services, supports and implements Morgan Stanley’s expansive digital offerings, and now acts as the Branch Manager of Morgan Stanley’s Mobile and Fairhope Branches, where he encourages and oversees the branch's Financial Advisors and their support teams.
Though born in Brazil, Francisco grew up in Mobile, AL and graduated from The University of Georgia with a Bachelor’s Degree in Banking and Finance. A dual citizen of US and Brazil, Francisco embodies a more global view of investing and financial planning – a unique perspective in the industry. He now lives in Fairhope, AL with his wife, Amanda, and their son, Sergey.
Series 66, Series 7, Series 9, Series 10, Series 31, Wealth Management, Retirement Planning, Asset allocation, Cash Management and Lending Solutions
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
Securities Agent: ME, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, NY, OH, OK, OR, VT, VI, NH, ID, IA, HI, PA, PR, RI, SC, SD, TN, TX, UT, VA, WA, WI, WV, WY, MI, AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IL, IN, KS, KY, LA, MA, MD; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1255431
NMLS#: 1255431
About Sarah K. Unfried
Sarah joined Morgan Stanley’s Lexington, KY branch in 2018 as a Client Service Associate and obtained her series 7 and 66 security licenses. She relocated to Fairhope, AL in 2021 and transitioned into the role of a Financial Advisor with The DFD Group.
Sarah also serves as the team’s Financial Planning Specialist. She works with The DFD Group to highlight the importance that financial planning has on clients comprehensive investment goals. She provides personalized planning that encompasses all phases of life which includes continuous follow up, monitoring and modifying everyone’s plans to fit specific needs.
Sarah graduated from the University of Kentucky in three years, with a Bachelor of Science in Finance. She lives in Fairhope, AL with her husband, Gant, and their dogs, Petunia and Rosie. Outside of the office, Sarah enjoys running, playing mahjong, and serving as the Alabama Free Clinic Board President.
Sarah also serves as the team’s Financial Planning Specialist. She works with The DFD Group to highlight the importance that financial planning has on clients comprehensive investment goals. She provides personalized planning that encompasses all phases of life which includes continuous follow up, monitoring and modifying everyone’s plans to fit specific needs.
Sarah graduated from the University of Kentucky in three years, with a Bachelor of Science in Finance. She lives in Fairhope, AL with her husband, Gant, and their dogs, Petunia and Rosie. Outside of the office, Sarah enjoys running, playing mahjong, and serving as the Alabama Free Clinic Board President.
Securities Agent: IL, AR, SC, RI, MI, VI, TX, MA, GA, CT, CO, WA, TN, NM, CA, WY, WI, KS, FL, AK, OK, OH, MO, MN, DE, AL, NJ, NC, KY, AZ, PA, MS, MD, OR, NY, IN, VA, NV, ME, LA; General Securities Representative; Investment Advisor Representative
NMLS#: 2211637
NMLS#: 2211637
About William Dorriety
William (Greg) Dorriety is a Financial Advisor and Portfolio Manager with Morgan Stanley who works with successful individuals, families, and business owners seeking disciplined, long-term wealth management.
He entered the wealth management profession in 2004 and later joined Morgan Stanley and the DFD Group in 2024 and brings a rare combination of institutional-level investment experience and comprehensive financial planning experience to his clients.
Many affluent investors have portfolios. Few have a coordinated wealth strategy.
Greg believes that his role is to help successful families manage wealth with the same discipline used by institutional investors and family offices.
Greg holds a Bachelor of Science in Chemical Engineering, a Master of Science in Personal Financial Planning, and a Master of Science in Investment Management and Financial Analysis. He has earned the Chartered Financial Analyst® (CFA®) and Certified Financial Planner™ (CFP®) designations, two of the most respected credentials in the financial advisory profession.
His practice focuses on helping clients integrate:
· Investment strategy
· Tax-efficient portfolio construction
· Retirement planning
· Estate and legacy planning
· Multigenerational wealth transfer
Greg believes that successful wealth management is built on disciplined investment processes, thoughtful risk management, and long-term strategic thinking, rather than short-term market speculation.
By combining rigorous analysis with a comprehensive planning framework, he helps clients make confident financial decisions designed to help preserve and grow wealth over time.
Away from the office, Greg and his wife, Donna, enjoy purposeful travel that keeps them close to the outdoors—especially hunting, fly fishing, and time immersed in nature. They are the parents of two children, Will and Elizabeth (deceased), and are proud grandparents to four grandchildren: Jack, Joanna, Max, and Poppy.
He entered the wealth management profession in 2004 and later joined Morgan Stanley and the DFD Group in 2024 and brings a rare combination of institutional-level investment experience and comprehensive financial planning experience to his clients.
Many affluent investors have portfolios. Few have a coordinated wealth strategy.
Greg believes that his role is to help successful families manage wealth with the same discipline used by institutional investors and family offices.
Greg holds a Bachelor of Science in Chemical Engineering, a Master of Science in Personal Financial Planning, and a Master of Science in Investment Management and Financial Analysis. He has earned the Chartered Financial Analyst® (CFA®) and Certified Financial Planner™ (CFP®) designations, two of the most respected credentials in the financial advisory profession.
His practice focuses on helping clients integrate:
· Investment strategy
· Tax-efficient portfolio construction
· Retirement planning
· Estate and legacy planning
· Multigenerational wealth transfer
Greg believes that successful wealth management is built on disciplined investment processes, thoughtful risk management, and long-term strategic thinking, rather than short-term market speculation.
By combining rigorous analysis with a comprehensive planning framework, he helps clients make confident financial decisions designed to help preserve and grow wealth over time.
Away from the office, Greg and his wife, Donna, enjoy purposeful travel that keeps them close to the outdoors—especially hunting, fly fishing, and time immersed in nature. They are the parents of two children, Will and Elizabeth (deceased), and are proud grandparents to four grandchildren: Jack, Joanna, Max, and Poppy.
Securities Agent: RI, CT, VI, NV, MI, OH, MD, IN, AZ, VA, OK, AL, OR, NM, KS, GA, DE, PA, CO, WY, WI, WA, NC, MO, LA, CA, TX, ME, AR, AK, TN, SC, NY, NJ, MN, FL, MS, MA, KY, IL; General Securities Representative; Investment Advisor Representative
NMLS#: 2607089
NMLS#: 2607089
About Dominque Sanders
Dominque joined The DFD Group at Morgan Stanley in 2015. She is a Portfolio Associate and holds her Series 7 and 66 licenses.
A consummate professional, Dominque is often the first line of contact for clients. Dominque’s attention to detail and commitment to going the extra mile for clients is an essential component of the firm's overall service.
Dominque currently lives in Daphne, AL with her teenage son and enjoys listening to music and cooking in her free time.
A consummate professional, Dominque is often the first line of contact for clients. Dominque’s attention to detail and commitment to going the extra mile for clients is an essential component of the firm's overall service.
Dominque currently lives in Daphne, AL with her teenage son and enjoys listening to music and cooking in her free time.
About Henrique Mendes
Originally from Brazil, Henrique moved to the United States in 2022 to pursue his Bachelor of Science in Finance and Accounting at the University of Mobile.
At the University of Mobile, Henrique was a member of the men’s soccer team, an experience that instilled discipline, integrity and teamwork, qualities that continue to shape his professional career as member of The DFD Group. He is passionate about fostering a supportive environment for both clients and colleagues, bringing positivity, perseverance and commitment to excellence.
Henrique currently serves as Registered Client Service Associate with The DFD Group, where he supports both U.S and international clients. In this role, he provides reliable service to clients and teammates.
Henrique lives with his wife, Emma, and outside of work, he enjoys playing and refereeing soccer, contributing to his local community and spending quality time with his family and friends.
At the University of Mobile, Henrique was a member of the men’s soccer team, an experience that instilled discipline, integrity and teamwork, qualities that continue to shape his professional career as member of The DFD Group. He is passionate about fostering a supportive environment for both clients and colleagues, bringing positivity, perseverance and commitment to excellence.
Henrique currently serves as Registered Client Service Associate with The DFD Group, where he supports both U.S and international clients. In this role, he provides reliable service to clients and teammates.
Henrique lives with his wife, Emma, and outside of work, he enjoys playing and refereeing soccer, contributing to his local community and spending quality time with his family and friends.
Contact Tod E Frick
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Contact Leonardo D Silva
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Contact Francisco D D'Oliveira
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Contact Sarah K. Unfried
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Contact William Dorriety
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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
Whitney Syme
Associate Private Banker
About Whitney Syme
Whitney Syme is an Associate Private Banker serving Morgan Stanley Wealth Management offices in Alabama, Arkansas, and Florida.
Associate Private Bankers partner with Private Bankers and Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Whitney began her career in financial services in 2006 when she joined Morgan Stanley. Prior to her current role she served as a Business Development Associate and as a Senior Complex Service Manager.
Whitney is a graduate of the Auburn University, where she received a Bachelor of Science in Marketing. She lives in Birmingham, Alabama with her family. Whitney is a member of the Big Oak Ranch Auxiliary and Vestavia Hills Elementary Cahaba Heights Parent Teacher Organization. Outside of the office, Whitney enjoys painting, hiking, skiing, and traveling
Associate Private Bankers partner with Private Bankers and Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Whitney began her career in financial services in 2006 when she joined Morgan Stanley. Prior to her current role she served as a Business Development Associate and as a Senior Complex Service Manager.
Whitney is a graduate of the Auburn University, where she received a Bachelor of Science in Marketing. She lives in Birmingham, Alabama with her family. Whitney is a member of the Big Oak Ranch Auxiliary and Vestavia Hills Elementary Cahaba Heights Parent Teacher Organization. Outside of the office, Whitney enjoys painting, hiking, skiing, and traveling
NMLS#: 2277780
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
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
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Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
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529 Plans: A Powerful Tool to Save for Education
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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 DFD Group today.
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.
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.
2Morgan 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.
3When 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.
4Morgan 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
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
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.
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.
2Morgan 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.
3When 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.
4Morgan 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
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
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.
CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
