Phone:
(408) 947-3715(408) 947-3715
The Foreman-MacQuarrie Group at Morgan Stanley
Direct:
(408) 947-3715(408) 947-3715
Our Mission Statement
We recognize that markets as well as lives are under constant change and as such, we focus our advice accordingly. We have a process driven approach through which we strive to appreciate and understand our client's financial and personal goals, and tailor portfolios and financial plans to recognize these goals.
Our Story and Services
As your Financial Advisors, we can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve. Working together we can help you to preserve and grow your wealth. You’ll have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices.
Services Include
- 529 PlansFootnote1
- Asset Management
- Corporate BondsFootnote2
- Corporate Retirement PlansFootnote3
- Exchange Traded FundsFootnote4
- Financial PlanningFootnote5
- Fixed IncomeFootnote6
- Municipal BondsFootnote7
- Planning for Education FundingFootnote8
- Qualified Retirement PlansFootnote9
- Retirement PlanningFootnote10
- Stock Plan ServicesFootnote11
- Trust AccountsFootnote12
- Wealth ManagementFootnote13
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Client Resources
Morgan Stanley's comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Here are a few of the technologies we have to offer our clients.
Morgan Stanley Online
Your investments and everyday finances are just a few clicks away with Morgan Stanley Online (MSO) and the Morgan Stanley Mobile App.
Total Wealth View
View all of your external financial accounts directly in Morgan Stanley Online or the mobile app. By linking your accounts, you'll benefit from more informed wealth planning, secure data access and convenient connectivity.
Goals Planning System
Our Goals Planning System is built on Morgan Stanley's intellectual capital and capabilities, which is to provide you with investing and planning solutions for your individual goals.
Online Security Center
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and how our resources can help protect yourself online.
Digital Vault
Through Digital Vault, you can move beyond using filing cabinets, your email inbox and a folder on your computer to save and share documents with your Morgan Stanley team.
With a few clicks, you can collaborate on and upload documents from your phone, laptop or desktop. Not only will this save you time, but it will also reduce the amount of sensitive paper you’re holding onto and may even decrease your risk of fraud.
With a few clicks, you can collaborate on and upload documents from your phone, laptop or desktop. Not only will this save you time, but it will also reduce the amount of sensitive paper you’re holding onto and may even decrease your risk of fraud.
Morgan Stanley Research
Through timely, in-depth analysis of companies, industries, markets, and world economies, Morgan Stanley has earned its reputation as a leader in the field of investment research. To access new and informative materials, please visit our Research homepage.
Helpful Resources
Here at Morgan Stanley, we strive to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future. Bill Corbin and I are firm believers of giving our clients as many resources as possible so they can stay informed about the latest market trends, outlooks, and breakdowns. The links below provide detailed analysis on interesting topics that are affecting the finance and business worlds.
Why Having a Goal Is Key to Investing
With a clear goal in mind, investors can create a realistic plan for achieving their objectives within a certain time frame. Here’s how:
Read Here
Develop Your Retirement Roadmap
The path to your ideal retirement may have some twists and turns, but smart planning can help you reach your destination. Where are you in your retirement journey and what steps do you need to take to get ahead in 2023? Learn more at our Retirement Homepage.
Learn More
529 Plans and More: Innovative and Effective Ways to Pay for Education
A 529 plan is a great way to invest for future education costs, but there are also other options to raise the funds you need.
Learn More
Tax- Smart Strategies for Selling Securities
Realizing Profits seems like the best part of investing, but taxes can add up. Our new analytics tool can help investors tap their portfolios in tax-savvy ways.
Read Here
Thoughts on the Market Podcast
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Listen Here
Overcoming Your 5 Biggest Retirement Challenges
While saving for a retirement is an important topic, it’s at least as important as what comes next: Your plan of action once you enter retirement.
Learn MoreOUR FOUR-STEP PROCESS:
As your dedicated wealth management team, our role is to tailor a personalized financial strategy which fits your needs. For us, service means much more than providing sound investment advice and strategic guidance.
We value our clients as part of our close-knit financial family, and we are proud to serve our clients as a resource, a sounding board or even a sympathetic ear.
Understanding that investments are only one important piece of your overall wealth management strategy, we also serve as the primary coordinator and connector for all your wealth planning needs. In our experience working with clients, we have developed a step-by-step approach to service:
We value our clients as part of our close-knit financial family, and we are proud to serve our clients as a resource, a sounding board or even a sympathetic ear.
Understanding that investments are only one important piece of your overall wealth management strategy, we also serve as the primary coordinator and connector for all your wealth planning needs. In our experience working with clients, we have developed a step-by-step approach to service:
1. Discovery Meeting
This is our chance to get to know each other. It is important that we fully understand you and your family’s background, lifestyle, and plans for the future in order to create a meaningful relationship. We are listening for you goals and aspirations and may help you uncover some you didn’t know you had.
2. Forming Your Strategy
Transparency and education are pillars to making any life decision, so we provide a financial plan with a few different solutions for reaching your goals. A discussion to analyze, compare, and contrast each solutions will empower you to making the ultimate decision.
3. Implementing Your Plan
With the help of Morgan Stanley’s full suite of resources, we execute your strategy with confidence and efficiency.
4. Tracking & Updating
Planning is a process and we know life is full of twist and turns that change our ideas, plans, and goals. With periodic check-ins, we will ensure your strategy continues to suite your needs and offer new solutions as we see fit.
Financial Planning
Consolidating Your Finances
Consolidating your financial accounts can help simplify your life and allow you to set up a long-term goal plan that focuses on big picture goals such as retirement. It also gives me a better understanding of your financial picture and allows me to help you more informed advice.
Learn More
Portfolio Risk Platform
Our Portfolio Risk Platform, backed by institutional-caliber analytics, assesses thousands of risk factors using a holdings-based approach to assess a portfolio’s exposures, analyze how securities behave together across portfolios and forecast how they influence risk and return moving forward.
Learn More
How to Create a Budget
While having a budget may seem simple, sticking to one can be challenging. Let’s talk about steps that can help you create a budget you can stick to.
Learn More
Modern Cash Management
Smart cash management is a critical part of successful wealth management. Learn what else a CashPlus Account can do for you.
Learn MoreLocation
225 W Santa Clara St
Suite 900
San Jose, CA 95113
US
Direct:
(408) 947-3715(408) 947-3715
Meet The Foreman-MacQuarrie Group
Phone:
(408) 947-3779(408) 947-3779
Roberta Arakaki
Portfolio Associate
Phone:
(408) 947-3705(408) 947-3705
Sheri Davidson
Portfolio Associate
Phone:
(831) 759-4953(831) 759-4953
About David Foreman
Dave is a teacher at heart and loves educating his clients on investing and helping them achieve their goals. He takes a holistic approach at his clients' finances and makes recommendations based on their complete situation, not just a piece of it.
The team is customer-oriented and they design investments specific to their clients' goals, needs and risk tolerance. Dave gets to know each and every client's unique financial situation, needs, and goals. Clients appreciate the fact that Dave wants them to understand all terms, products, options, and advice. This allows them to be collaborative and have a true partnership.
Dave is the senior advisor on the Foreman-MacQuarrie Group at Morgan Stanley. If clients have a question about money, they know they can call Dave because of his ability to simplify complex terms and situations, as well as give them advice that is in their best interest. Dave will talk with anyone at any time about finances as this is his passion.
When Dave was in the 3rd grade, he was given 10 shares of stock. This led him to ask questions and learn more about investing. While at Santa Clara University, he bought his first mutual fund and worked for a CPA, but realized that his passion was in finance, not accounting.
Dave started at Morgan Stanley, then Dean Witter, in 1993, and has been here ever since. He holds the Portfolio Management Director designation, as well as his insurance license.
Outside of the office, Dave enjoys spending time with his wife Margie, three sons Joshua, Caleb, & Mark, and two granddaughters. He was born and raised in the South Bay area and loves visiting the national parks and doing anything outside. Dave has climbed to the top of Half Dome in Yosemite about 20 times with the middle school students he volunteers his time with. One of his goals is to visit all of the US national parks. Margie's family is from Hawaii, so they love to spend time there, as well as lake Tahoe.
In addition to enjoying the outdoors, Dave is also an active member of his church community. He has worked with middle school students at his church for almost 36 years. He loves teaching them and witnessing their "Ah Ha!" moments when they come to understand something - just like when he educates his family, friends and clients on finances.
The team is customer-oriented and they design investments specific to their clients' goals, needs and risk tolerance. Dave gets to know each and every client's unique financial situation, needs, and goals. Clients appreciate the fact that Dave wants them to understand all terms, products, options, and advice. This allows them to be collaborative and have a true partnership.
Dave is the senior advisor on the Foreman-MacQuarrie Group at Morgan Stanley. If clients have a question about money, they know they can call Dave because of his ability to simplify complex terms and situations, as well as give them advice that is in their best interest. Dave will talk with anyone at any time about finances as this is his passion.
When Dave was in the 3rd grade, he was given 10 shares of stock. This led him to ask questions and learn more about investing. While at Santa Clara University, he bought his first mutual fund and worked for a CPA, but realized that his passion was in finance, not accounting.
Dave started at Morgan Stanley, then Dean Witter, in 1993, and has been here ever since. He holds the Portfolio Management Director designation, as well as his insurance license.
Outside of the office, Dave enjoys spending time with his wife Margie, three sons Joshua, Caleb, & Mark, and two granddaughters. He was born and raised in the South Bay area and loves visiting the national parks and doing anything outside. Dave has climbed to the top of Half Dome in Yosemite about 20 times with the middle school students he volunteers his time with. One of his goals is to visit all of the US national parks. Margie's family is from Hawaii, so they love to spend time there, as well as lake Tahoe.
In addition to enjoying the outdoors, Dave is also an active member of his church community. He has worked with middle school students at his church for almost 36 years. He loves teaching them and witnessing their "Ah Ha!" moments when they come to understand something - just like when he educates his family, friends and clients on finances.
Securities Agent: NV, CO, CA, WI, MD, WA, CT, WY, ID, TX, SC, OK, TN, NY, NJ, MT, GA, AR, WV, OR, NC, ME, PA, KY, HI, MI, AZ, VA, UT, NM, FL; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1278837
NMLS#: 1278837
About Andrew MacQuarrie
Andrew is a problem-solver and an educator. His main focus is relieving his clients from stress and helping them improve their lives through growth, preservation, and financial planning. While he enjoys sharing his knowledge with clients, he also understands that he needs to be continuously learning - both about the impact of the financial markets, but also learning about his clients, their families, and their goals. He understands the value of connecting with people, fostering relationships, and listening to their stories. Although clients' finances could seem similar on paper, it's their experiences and personalities that make them different. He wants people to feel heard and confident about their unique situations and decisions.
Andrew gained an interest in financial management when some of his family members needed help. He started studying all that he could about finance to be able to share this knowledge with them, and eventually took an internship with one of the largest teams at Morgan Stanley to deepen his understanding and explore this type of career. His mentors and the impact he was able to make on his family got him hooked. He had always been interested in business and current events, which are some of the main conversations he has with his dad, and he soon realized this was the right career path for him. Just as he jumped at the opportunity to help his family, Andrew helps his clients with the same level of urgency and attention.
When clients call, they know that someone on the team will address their unique situations and concerns.
Outside of the office, Andrew can be found supporting local and small businesses, frequenting the local farmers' markets, or volunteering in the community. He enjoyed playing football and lacrosse growing up but now sticks to golf and playing the piano.
Above all, Andrew values family and embracing everything his community has to offer. In 2024 he married his wife Isabella, who comes from a legacy Gilroy family and still owns a garlic ranch in the area. Andrew went to the same schools as his dad, who has been and IBM engineer for over 30 year and lives in down the street; his mom works for the Second Harvest Food Bank in Idaho; and his sister works in tech sales in San Diego. Some of his favorite memories are spent with his wife, black lab, and family over live music.
Something his clients may not know about him is that he enjoys art and creative projects, and even grew up making wine from a small vineyard in his family's backyard.
Andrew gained an interest in financial management when some of his family members needed help. He started studying all that he could about finance to be able to share this knowledge with them, and eventually took an internship with one of the largest teams at Morgan Stanley to deepen his understanding and explore this type of career. His mentors and the impact he was able to make on his family got him hooked. He had always been interested in business and current events, which are some of the main conversations he has with his dad, and he soon realized this was the right career path for him. Just as he jumped at the opportunity to help his family, Andrew helps his clients with the same level of urgency and attention.
When clients call, they know that someone on the team will address their unique situations and concerns.
Outside of the office, Andrew can be found supporting local and small businesses, frequenting the local farmers' markets, or volunteering in the community. He enjoyed playing football and lacrosse growing up but now sticks to golf and playing the piano.
Above all, Andrew values family and embracing everything his community has to offer. In 2024 he married his wife Isabella, who comes from a legacy Gilroy family and still owns a garlic ranch in the area. Andrew went to the same schools as his dad, who has been and IBM engineer for over 30 year and lives in down the street; his mom works for the Second Harvest Food Bank in Idaho; and his sister works in tech sales in San Diego. Some of his favorite memories are spent with his wife, black lab, and family over live music.
Something his clients may not know about him is that he enjoys art and creative projects, and even grew up making wine from a small vineyard in his family's backyard.
Securities Agent: AR, CA, OR, MI, AZ, WA, VT, UT, TN, NC, CT, TX, NE, KY, CO, WY, SC, NY, FL, WV, OK, OH, NJ, IN, VA, NM, ID, WI, PA, KS, HI, AL, ME, GA, NV, MT, MD; General Securities Representative; Investment Advisor Representative
NMLS#: 2148357
CA Insurance License #: 0M30881
NMLS#: 2148357
CA Insurance License #: 0M30881
Contact David Foreman
Contact Andrew MacQuarrie
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Foreman-MacQuarrie Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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.
4An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
5Morgan 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.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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.
9When 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.
10When 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.
11Morgan 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.
12Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
13Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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 Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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.
4An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
5Morgan 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.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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.
9When 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.
10When 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.
11Morgan 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.
12Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
13Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
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Awards Disclosures
CRC 6491812 (04/2024)
