Welcome

Together, we will explore your aspirations and the life you envision. We will work with you to translate your goals into a specific investment objective and personalized investment strategy. And then, drawing on the team’s experience — and perspective informed by the insight and resources of one of the world’s largest financial firms — we will structure a portfolio for you, executing and refining that strategy to help bring you closer to your definition of investment success.
Services Include
  • Business Planning1
  • Cash Management2
  • Divorce Financial Analysis3
  • Endowments and Foundations4
  • Estate Planning Strategies5
  • Executive Financial Services6
  • Institutional Services
  • Lending Products
  • Life Insurance7
  • Philanthropic Services
  • Planning for Education Funding8
  • Planning for Individuals with Special Needs9
  • Retirement Planning10
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

Awards

  • In February 2017, Barron's named Todd Yannuzzi one of the Top 1,200 Advisors in America and Top 100 in New York.
  • In February 2016, Barron's named Todd Yannuzzi one of the Top 1,200 Advisors in America and Top 100 in New York.
  • In February 2015, Barron's named Todd Yannuzzi one of the Top 1,200 Advisors in America and Top 100 in New York.
  • In February 2014, Barron's named Todd Yannuzzi one of the Top 1,200 Advisors in America and Top 100 in New York.
  • In February 2013, Barron's named Todd Yannuzzi one of the Top 1,200 Advisors in America and Top 100 in New York.
  • In April 2013, the Financial Times named Todd Yannuzzi to its inaugural Financial Times 400 list, recognizing the top Financial Advisors at broker-dealers across the U.S.
  • In September 2011, Todd Yannuzzi was recognized and quoted in The Wall Street Journal for his expertise in the field of Portfolio Management and ETF investing.
  • In February 2011, Barron's named Todd Yannuzzi one of the Top 1,000 Advisors in America.

Location

522 Fifth Avenue
11th Floor
New York, NY 10036
US
Direct:
(212) 296-1051(212) 296-1051
Fax:
(212) 507-8354(212) 507-8354

Meet The Fifth Avenue Group

About Me

Todd Yannuzzi is a Managing Director, Senior Portfolio Management Director, and Wealth Advisor within the Wealth Management Division at Morgan Stanley. He is the founder of the Fifth Avenue Group, which specializes in advising ultra-high net worth families, foundations and endowments. Todd focuses on providing tailored wealth management advice and solutions based on each client’s needs. Todd is a Portfolio Manager for the team’s discretionary portfolios and is directly responsible for the investment selection, portfolio construction, and tactical asset allocation for client accounts. Todd is among the largest fiduciary portfolio managers at the Firm and is recognized as a Top 1,200 Advisor by Barron’s in 2011, 2013, 2014, 2015, 2016, and 2017.

Todd joined Morgan Stanley in 1989 and his experience spans three Divisions; Municipal Finance Investment Banking, Fixed Income Sales and Trading, and Private Wealth Management. Todd received a Bachelor of Arts degree from Johns Hopkins and he, his wife Alexa, and their four children live in Tuxedo Park, NY. Todd is a volunteer Ambulance Driver, a Lake Warden, and an Advisory Board Member of New York-Presbyterian Morgan Stanley Children’s Hospital.
Securities Agent: TX, WY, WV, WI, WA, VT, VI, VA, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NJ, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, ID, IA, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL; Managed Futures; Transactional Futures/Commodities; General Securities Representative; BM/Supervisor; Investment Advisor Representative
NMLS#: 1272719

About Me

Frank Delli Carpini is a Senior Vice President, Senior Portfolio Management Director, and a Financial Advisor on the Fifth Avenue Group at Morgan Stanley. Frank is dedicated to helping highly successful individuals develop customized investment portfolios and strategies that bring them closer to their personal and financial goals. Frank’s areas of concentration range from equities to fixed income and advanced portfolio construction. Frank focuses not only on investment management, but also on developing collaborative relationships with his clients to deliver comprehensive wealth management strategies designed to help them grow, protect and preserve their hard-earned wealth.

Prior to joining Morgan Stanley in 2016, Frank was a Senior Vice President, Senior Portfolio Manager and Wealth Advisor at UBS. Previously, he was a Managing Director at Belle Haven Investments in Greenwich, Connecticut, and a Financial Advisor at Smith Barney, a Morgan Stanley predecessor firm. He graduated from Iona College and currently resides in Bedford, NY.
Securities Agent: TX, NJ, WY, WV, WI, WA, VT, VI, VA, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, ID, IA, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1608151

About Me

Tyler Gaffney is a Financial Advisor and partner on the Fifth Avenue Group within the Wealth Management Division at Morgan Stanley. His focus is on investment management, business development, and private client origination. His other responsibilities include equity, options, and fixed income trading, annuity and insurance solutions, alternative investments, and general relationship management. Tyler also assists with portfolio construction, investment selection, and asset allocation for the team’s discretionary portfolios.

Tyler joined Morgan Stanley in January, 2008, as a Registered Client Service Associate on the Fifth Avenue Group and has been a Financial Advisor since 2012. Tyler graduated in 2007 from Brown University with a Bachelor of Arts degree in Commerce, Organizations, and Entrepreneurship. He lives with his wife and son in Greenwich, CT, and is an avid golfer, skier, and racquets player.
Securities Agent: TX, NJ, WY, WV, WI, WA, VT, VI, VA, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, ID, IA, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1368460

About Me

Jim Little is a Senior Vice President and Financial Advisor on the Fifth Avenue Group at Morgan Stanley. Jim was recruited by the Fifth Avenue Group in 2014 as a partner responsible for strategic business development, relationship management, and alternative investment solutions.

Jim first joined Morgan Stanley in 1985 and has experience across several Divisions of the Firm including Institutional Sales, Private Wealth Management, the Individual Investor Group and Global Products & Services. In 2004, Jim left Morgan Stanley and joined the management team at Credit Suisse First Boston as the Global Head of the Private Client Group. After two years at Credit Suisse First Boston, he left to join the Private Wealth Management Division at Goldman Sachs and over the next several years would spend time at Barclay’s Wealth Management and Deutsche Bank, where he was the Director of the Markets Coverage Group. Jim graduated with a Bachelor of Arts degree in Business from Ohio Wesleyan University. He resides in Short Hills, New Jersey.
Securities Agent: TX, WY, WV, WI, WA, VT, VI, VA, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NJ, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, ID, IA, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL; General Securities Representative; BM/Supervisor; Investment Advisor Representative
NMLS#: 1398742

About Me

Sandra Kunzweiler is a Financial Advisor on the Fifth Avenue Group at Morgan Stanley. As a CERTIFIED FINANCIAL PLANNER™ (CFP®), Sandra focuses on comprehensive wealth management and financial planning. Understanding that investing is a truly personal experience, she works with clients to identify and work toward meeting their long-term goals. Prior to her current role, Sandra worked with industry-ranked advisors at the UBS Headquarters in New York City, gaining exposure to high net worth clients and wealth management practices.

Sandra began her career at Wells Fargo Advisors, where she obtained her Series 7 and 66 securities licenses and life and health insurance licenses. In addition to the CFP®, Sandra holds the Certified Investment Management Analyst (CIMA®) designation, administered by the Investments and Wealth Institute and taught in conjunction with the University of Pennsylvania, The Wharton School. Sandra graduated from the University of Oklahoma. She currently resides in New York City, and is an active member of the New York Junior League, where she serves on the Financial Literacy Committee.
Securities Agent: TX, CT, WY, WV, WI, WA, VT, VI, VA, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NJ, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, IA, GA, FL, DE, DC, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1809624

About Me

Christopher Bentley is a Financial Advisor on the Fifth Avenue Group at Morgan Stanley. Chris was recruited by the Fifth Avenue Group as a Financial Advisor and will focus on providing custom tailored wealth management advice and solutions based on each client’s needs. His focus is on building new relationships as well as constructing and managing individual portfolios and generational wealth transfer solutions.

Chris began his career at Morgan Stanley in 1993 in the Equity Capital Markets Division helping to bring initial public offerings (IPO’s) to market, then as a currency trader in our Fixed Income Division. Chris adds a proficiency in International Markets with his Global Macroeconomic perspectives, proprietary trading experience and risk management capabilities. From 2009-2014 he worked at top tier International banks - BNP Paribas and Bank of Tokyo Mitsubishi. Personally, Chris is a professional level musician who has recently released a self-produced full length album, “Grand Design” that is being globally distributed on major websites. He lives on Long Island with his wife Liz, his three children Teddy, Eliza, and Amelia. Chris holds a BA from Harvard University in Economics.
Securities Agent: NJ, WY, WV, WI, WA, VT, VI, VA, TX, TN, SC, RI, PR, PA, OR, OK, OH, NY, NV, NH, NC, MT, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, ID, IA, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1807538

About Me

Philip Kang is a Wealth Management Associate for the Fifth Avenue Group. Philip joined Morgan Stanley in 2007, and has held the position of Senior Registered Associate and Relationship Manager. Phil oversees all aspects of the Team's operational and administrative matters. His primary focus is on leadership and coordination for the development and implementation of client facing processes, such as client onboarding, trade execution, and reconciliation matters.

Philip began his career on Wall Street in 1998 and attended City College of New York.

Areas of Focus:
• Relationship Management
• Operational Support
• Market Updates
• Client Communication
• Trading

About Me

David Ippolito is a Portfolio Management Associate on the Fifth Avenue Group. David is a CERTIFIED FINANCIAL PLANNER™ and has more than 10 years of experience in the financial services industry. David focuses on financial planning, portfolio management and construction, and lending solutions. He is instrumental in assisting clients navigate the full array of products and services offered on the Morgan Stanley platform.

David Joined Morgan Stanley in 2016. Prior to that he was a Wealth Strategy Associate at UBS. He earned his B.S. in Business Management from Providence College. David currently resides in River Vale, NJ, with his wife and daughter.

Areas of Focus:
• Portfolio Management
• Relationship Management
• Investment Advice
• Market Updates
• Lending Solutions
• Alternative Investments
• CPA and Attorney Communications

About Me

Robert Sprotte is a Portfolio Management Associate with the Fifth Avenue Group and is primarily responsible for the daily management of the Team's discretionary portfolios. This includes portfolio construction, asset allocation, fund & manager due diligence, trading, risk management, and performance reporting. Additionally he assists the Senior Portfolio Managers with developing the Team’s overall strategic investment vision and sourcing new investments for both discretionary and non-discretionary client accounts.

Prior to joining Morgan Stanley in 2009, Robert worked as an analyst at the private equity firm, Lindsay Goldberg LLC. Robert currently holds the Chartered Alternative Investment Analyst designation. He graduated from Villanova University in 2007 with a B.S. in Accountancy and a B.S. in Business Administration.

Areas of Focus:
• Portfolio Management
• Portfolio Construction
• Portfolio Analytics
• Operational Support
• Performance Reporting
• Market Updates
• Trading

About Me

Karen Kenny, a Wealth Management Client Service Associate, brings her extensive experience to bear for the Fifth Avenue Group, touching on all aspects of client experience and team functioning. She was pleased to rejoin Morgan Stanley in 2015, after having left the Firm in 2003 to raise her family. Before Karen’s departure, she spent almost 10 years at the Firm, with the majority of her previous tenure working directly with Private Wealth Management clients, as well as helping Todd Yannuzzi design, develop, and execute the Wealth Management training program.

Karen holds an undergraduate degree from the A.B. Freeman School of Business at Tulane University, and an MBA from The Stern School of Business at NYU. She currently lives in Long Island with her husband and their three sons.

Areas of Focus:
• Relationship Management
• Operational Support
• Client Service
• Team Development
Investment and Market Perspectives

On the Markets

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
Investing in Artificial Intelligence and Automation

Investing in Artificial Intelligence and Automation

AI is an exciting growth area, but the investing opportunities are not always obvious. Here’s how to integrate this theme into your portfolio.

Insights and Outcomes

Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
Art as An Asset
CRC 2274738 01/19

Art as An Asset

Art may play a significant role in the context of a collector's overall wealth. Generally, a collector may differentiate financial assets, including stocks, bonds and real estate, from other possessions, such as art.

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
Choosing an Environmental Charity

Choosing an Environmental Charity

There are a multitude of non-profits dedicated to helping protect the environment. Here’s how to choose where you want to give.

Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Retirement Plan Sponsors
  • Qualified Retirement Plans
  • Corporate Pension Funds
6 Keys to Building a Startup

6 Keys to Building a Startup

Entrepreneurs share ideas and learnings from the experience of starting a company.

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
Thinking About Your Legacy? Why You May Need a Trust

Thinking About Your Legacy? Why You May Need a Trust

You can’t take it with you, but through a trust, you can define how you want your life’s work and wealth to continue to benefit the people and causes you love and care for.

More from Morgan Stanley

OUTSMART VOLATILITY IN A MORGAN STANLEY MINUTE

OUTSMART VOLATILITY IN A MORGAN STANLEY MINUTE

“You may feel like a 1,000 point move in the Dow in a single day is unprecedented, but the reality is that it’s a 2 or 3% move down.” - Lisa Shalett, Chief Investment Officer, Wealth Management
Learn more about OUTSMART VOLATILITY IN A MORGAN STANLEY MINUTE
Morgan Stanley and Justin Rose: A Winning Team

Morgan Stanley and Justin Rose: A Winning Team

Morgan Stanley and our brand ambassador, PGA TOUR champion Justin Rose, share a set of core values and a common cause: giving books to children in need.
Learn more about Morgan Stanley and Justin Rose: A Winning Team
Sign Up for eDelivery

Sign Up for eDelivery

With eDelivery, you’ll have easy access to statements, trade confirmations, general correspondence and much more.
Learn more about Sign Up for eDelivery
Reserved | Living & Giving

Reserved | Living & Giving

Our complimentary program for eligible clients provides you and your family with access to exclusive offers and discounts from premium travel, automotive, health and wellness, and retail brands as well as curated insights from Morgan Stanley.
Learn more about Reserved | Living & Giving
Your Financial World. On the Go.

Your Financial World. On the Go.

With the Morgan Stanley Mobile App, you’ll have the freedom to manage your investments and instantly access a suite of personal cash management tools.
Learn more about Your Financial World. On the Go.
Access Morgan Stanley Online

Access Morgan Stanley Online

Morgan Stanley Online provides a comprehensive view of your assets and liabilities, projected income, breaking news, research and much more.
Learn more about Access Morgan Stanley Online
Ready to start a conversation? Contact The Fifth Avenue Group today.
Market Information Delayed 20 Minutes
Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

1Morgan 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.

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

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.

4Morgan 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.

5Morgan 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.

6Tax laws are complex and subject to change. 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 and are not “fiduciaries” (under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise provided in writing by Morgan Stanley and/or as described at www.morganstanley.com/disclosures/dol . Individuals are encouraged to consult their tax and legal advisors (a) before establishing a retirement plan or account, and (b) regarding any potential tax, ERISA and related consequences of any investments made under such plan or account.

7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

8Morgan 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.

9Morgan 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.

10Morgan 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.

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 suitable 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”) 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.


CRC 2019752 10/2018