Practice Overview

The GMA Group is a Wealth Management practice within Morgan Stanley dedicated to serving corporate executives, founders, and successful multi-generational families whose wealth has been built through equity compensation, business ownership, or generational succession.

These forms of wealth create a distinct level of complexity. Concentrated stock, executive compensation, business exits, liquidity events, tax strategy, and multigenerational wealth transfer are interconnected decisions and financial lives can become too complex for fragmented advice. We built the GMA Group to handle every facet of that as one coordinated strategy, not a series of separate engagements.

Our team brings complementary areas of focus across financial planning, exit planning, investment management, and family wealth strategy. We operate not as transactional asset managers, but as an extension of your family office, integrating balance sheet governance, tax-aware liquidity planning, concentrated stock diversification, and multi-generational capital preservation, each discipline informing the others rather than operating in isolation.

Our mandate: Transforming concentrated success into enduring family legacy.

Working with us gives you access to the full depth and scale of Morgan Stanley's institutional resources, infrastructure, and intellectual capital, delivered through a single point of contact who understands your family's complete financial picture, is accountable for the overall relationship, and coordinates every specialist on your behalf.

Backed by Morgan Stanley

Our clients benefit from the depth and resources of the Morgan Stanley platform. That includes research and insights from the firm's Global Investment Committee, investment capabilities spanning both public and private markets, and access to Morgan Stanley's capital markets and advisory resources for business owners considering a sale, acquisition, or other transaction. For executives, Morgan Stanley at Work adds another layer of institutional capability around workplace wealth, with equity compensation platforms, including Shareworks, StockPlan Connect, and E*TRADE, that support equity plans at public and private companies.

Whether you are an executive managing significant company equity, a founder preparing for a liquidity event, or a family navigating wealth across generations, our role is to help transform the wealth you have created into a durable financial foundation for the future.

Who We Serve
  • Corporate executives navigating equity compensation and concentrated stock
  • Business owners and founders planning a sale, exit, or succession
  • Physicians, attorneys, and other high-earning professionals managing complex compensation
  • Individuals and families navigating a business sale, inheritance, or other new liquidity
  • Multi-generational families coordinating wealth, governance, and legacy
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

The GMA Group's Credentials

The GMA Group at Morgan Stanley brings together six Financial Advisors and two experienced client service professionals. Each group member holds specific professional credentials and Morgan Stanley specializations, earned through rigorous testing and demonstrated transaction volume, reflecting experience and discipline in their respective subject areas. Rather than relying on a single perspective, our team draws on complementary experience in financial planning, investment management, executive compensation, business owner planning, and family wealth strategy, so clients can benefit from a broad range of knowledge and professional focus. Our team is licensed to conduct business in 43 states, Washington, D.C., and Puerto Rico, allowing us to work with clients in many places where they live, work, or do business.

    Professional Certifications

    CERTIFIED FINANCIAL PLANNER® (CFP®) - The CFP® certification is a highly recognized credential in financial planning. Certification requires education, a comprehensive examination, verified experience, and adherence to the CFP Board's Code of Ethics and Standards of Conduct. A CFP® professional is trained to evaluate a client's complete financial picture, including investments, retirement, taxation, cash flow, risk management, education planning, and estate planning strategies.

    Certified Private Wealth Advisor® (CPWA®) - Administered by the Investments & Wealth Institute, the CPWA® certification is designed for advisors who work with high-net-worth families. Training covers advanced wealth management topics, including tax-aware strategies, estate planning strategies, wealth transfer, family dynamics, and legacy planning.

    Certified Exit Planning Advisor (CEPA®) - Offered by the Exit Planning Institute, the CEPA® credential is designed for advisors who guide business owners through value creation, transition planning, and exit strategy. For founders and business owners, this training may be relevant to growth, succession, recapitalization, sale, and life after a business transition.

    Certified Investment Management Analyst® (CIMA®) - Also administered by the Investments & Wealth Institute, the CIMA® certification focuses on investment management, portfolio construction, and investment consulting. Candidates must meet requirements spanning experience, executive education, examination, and a background check. CIMA®-trained advisors bring knowledge to portfolio construction, asset allocation, manager due diligence, and risk management.

    Chartered Retirement Planning Counselor (CRPC®)℠ - Offered through the College for Financial Planning, the CRPC® designation focuses on retirement planning. This training supports clients preparing for retirement, transitioning into retirement, and evaluating income and distribution considerations.

    Chartered Mutual Fund Counselor™ (CMFC™) - Associated with the College for Financial Planning, the CMFC™ designation reflects education in mutual funds and related investment concepts, including fund selection, diversification, and portfolio construction.

    Morgan Stanley Areas of Focus

    Family Wealth Advisor - This role centers on the complexities of transferring wealth, values, and legacy across generations, helping families preserve capital and shared purpose over time.

    Executive Financial Services Director - Advisors with this designation help executives and key insiders navigate equity compensation, insider trading regulations and reporting requirements, including 10b5-1 trading plans, Rule 144 filings, restricted and performance stock, non-qualified stock options, incentive stock options and concentration risk management.

    Workplace Advisor – Equity Compensation - This designation reflects a focus on helping clients understand how complex equity compensation fits into their broader financial plan and long-term objectives.

    Portfolio Management Director / Portfolio Manager / Senior Portfolio Manager - Advisors who design and implement personalized investment strategies, leveraging Morgan Stanley's global resources.

    Alternative Investments Director - This designation reflects a focus on evaluating alternative investment resources that may be available through Morgan Stanley, subject to client eligibility and appropriateness.

    Financial Planning Specialist - This role focuses on helping build a complete view of a client's income, expenses, assets, and liabilities, then translating that picture into goals around retirement, major purchases, debt, and investing.

    Insurance Planning Director - Directors who help clients think through risk management as part of a broader wealth plan, helping preserve what clients have built and supporting the people who depend on it.

    Advisors

    David R. Zukowski — Senior Vice President, Wealth Management; Financial Advisor
    Professional certifications: CFP®, CRPC®, CPWA®
    Specialized designations: Executive Financial Services Director; Workplace Advisor – Equity Compensation; Portfolio Management Director; Alternative Investments Director; Financial Planning Specialist; Insurance Planning Director

    Joseph Fisher — Senior Vice President, Wealth Management; Financial Advisor
    Professional certifications: CFP®, CIMA®, CMFC®
    Specialized designations: Family Wealth Advisor; Workplace Advisor – Equity Compensation; Portfolio Management Director; Alternative Investments Director; Financial Planning Specialist; Insurance Planning Director

    Darsh Kumar — Vice President, Wealth Management; Financial Advisor
    Professional certification: CFP®
    Specialized designations: Senior Portfolio Manager; Workplace Advisor – Equity Compensation

    JC Wilhelm — Vice President, Wealth Management; Financial Advisor
    Professional certifications: CFP®, CRPC®, CEPA®
    Specialized designations: Portfolio Manager; Alternative Investments Director; Workplace Advisor – Equity Compensation

    Eric Weisgerber — Wealth Management; Financial Advisor
    Specialized designation: Insurance Planning Director

    Eryck Little — Vice President, Wealth Management; Financial Advisor

Corporate executives face a different kind of wealth complexity

Equity compensation, insider trading regulations, concentrated stock risk, stock options, and compensation structures tied to company performance can make financial decisions unusually interconnected. The GMA Group helps executives to coordinate these decisions with their broader balance sheet, tax strategy, investment portfolio, and long-term family goals, often working alongside their legal and tax advisors. Planning well in advance can allow for extra time to evaluate additional considerations before vesting events, liquidity events, or career transitions.

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    Connected to Your Company’s Stock Plan

    Morgan Stanley at Work supports equity compensation programs for public and private companies. Through this network, we bring familiarity with stock plan design and can help executives consider how equity awards may fit into a broader personal wealth strategy.

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    Understand Your Stock Options: NQSOs vs. ISOs

    Non-qualified stock options and incentive stock options have different tax considerations. We help executives understand what they hold, coordinate with their tax advisors, model potential planning scenarios, and evaluate exercise considerations in light of personal cash flow and broader goals.

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    Restricted Stock and Vesting Events

    Restricted stock and performance stock awards each carry vesting schedules and tax considerations. We help executives plan ahead for vesting events so they can evaluate potential cash flow, diversification, and tax-aware considerations with their tax advisors.

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    Help Manage Taxes on Concentrated and Company Stock

    Many executives have a meaningful portion of their net worth tied to company stock. A concentrated stock position can create investment and tax-aware planning considerations. We help executives explore strategies to diversify concentrated positions for personal risk management while considering potential tax implications with their tax advisors.

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    Manage Insider Trading Requirements

    As a key insider, the ability to buy and sell company stock is governed by rules most investors do not have to consider. These rules can affect the strategies available to help reduce concentration risk and manage tax impact. We help executives evaluate 10b5-1 trading plans, Rule 144 filing requirements, and concentration risk considerations in coordination with company counsel and other advisors.

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    Evaluate Executive Pensions and Deferred Compensation

    Nonqualified deferred compensation plans and executive pension structures can involve tax and income planning considerations, as well as risks and timing considerations. We help executives evaluate election choices, funding strategies, and distribution timing as part of an overall tax-aware and income plan.

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    Forward Planning for a High-Tax Year

    A major vesting event, option exercise, or bonus payout can create a significant, concentrated tax liability in a single year. We help executives for these events ahead of time with multi-year tax-aware planning discussions, including income timing, deduction considerations, tax loss harvesting, and charitable giving strategies reviewed with qualified tax advisors.

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    Build Wealth Beyond the Company

    Many executives' wealth can become concentrated in one company through equity, retirement plans, and deferred compensation. In general, most of their income is also paid by that company. We help executives diversify deliberately and build a personal financial plan that is not dependent on one employer's stock price.

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    Build a Lasting Family Legacy

    For many executives, a career of compensation and equity milestones can form the foundation for their family's long-term financial security. We help manage wealth transfer, estate planning strategies, and next-generation education alongside outside tax and legal advisors.

Connecting your business success to your personal wealth

Whether you are building a business, looking toward a future transaction, actively navigating one, or living in the years after a sale, your business and personal wealth are often connected. As part of Morgan Stanley, the GMA Group helps business owners and founders access capital markets resources alongside a coordinated personal wealth strategy and can work in close consultation with legal and tax advisors. Early planning can help owners evaluate more considerations before a sale, exit, or liquidity event is on the horizon.

    Align Founder Equity With Personal Wealth

    For many founders, company equity represents both opportunity and concentration risk. We help founders think through ownership, liquidity, diversification, and how business equity fits into a broader personal wealth strategy as the company grows.

    Manage Your Business Balance Sheet

    Strong personal wealth often depends on a well-managed business. Through Morgan Stanley's cash management and lending capabilities, we help owners think through credit lines, securities-based lending, and cash management strategies that support the business while helping preserve personal liquidity.

    Design a Retirement Plan for Your Business

    The right retirement plan may help business owners address current planning objectives while supporting their ability to attract and retain talent. We help owners evaluate options such as SEP IRAs and 401(k)s, as well as cash balance, defined benefit plans, and deferred compensation, in coordination with the client's tax and legal advisors and other professionals.

    Administer Equity Across Your Company

    Managing equity compensation well can benefit more than just the founder. We help companies think through broader employee equity plan considerations and coordinate with appropriate resources as the business scales.

    Prepare for the Exit

    Whether you're preparing for an acquisition, IPO, tender offer, or secondary sale, the decisions made before a deal closes shape what you keep afterward. For eligible founders and early shareholders, Qualified Small Business Stock (QSBS) can exclude a significant portion of capital gains from a sale, while a QSBS rollover can defer gain if you sell before the holding period is met. We coordinate these strategies with tax-loss harvesting, charitable giving, estate transfers, and deal structure alongside your attorneys and tax advisors, before, during, and after the transaction.

    Plan a Succession or Ownership Transfer

    Not every transition ends in a sale to an outside buyer. We help owners evaluate passing the business to family members, a management team, or partners, including how the transfer affects your income, your estate, and your family, and how to fund your own next chapter. Explore Succession Planning

    Navigate Life After the Sale

    Selling a business can reshape a balance sheet, lifestyle, family conversations, and sense of purpose. We help owners plan for investment strategy, income needs, legacy goals, and philanthropy in the years after the business.

    Build a Lasting Family Legacy

    For many business owners, the company is closely tied to family identity, values, and long-term legacy. We help manage wealth transfer, estate planning strategies, philanthropy, and next-generation education alongside outside tax and legal advisors.

Unifying your entire financial picture

Real wealth planning rarely happens with one advisor alone. The GMA Group serves as your single point of contact, connecting not just the full resources of Morgan Stanley, but the outside professionals who already know your financial life, so every recommendation works together instead of at cross purposes. As a national team, we bring the full scale of Morgan Stanley's platform to clients across the country, no matter where you live, work, or do business.

    The Coordinated Family Office Approach

    Your CPA, estate and business attorneys, insurance professionals, and, for clients in public-facing careers, talent managers and agents, all play a role in your financial life. We work directly alongside them as part of one coordinated strategy, so nothing falls through the cracks between the professionals who already know you best.

    Family Governance, Estate Planning, and Next-Generation Education

    Preserving wealth across generations takes more than an estate plan, it takes a family that's prepared to receive it. Our team includes specialists who help structure family governance and wealth education, navigating shared values, communication, and next-generation preparation, alongside estate planning strategies built for your specific circumstances.

    Trust and Insurance Solutions

    The right trustee, trust structure, and insurance strategy can meaningfully strengthen a wealth transfer plan. Through an open-architecture trustee platform and a network of specialists, we help evaluate solutions built around tax efficiency, wealth transfer, and your family's specific objectives.

    Tax Preparation and Accounting

    Having the right tax professional matters as much as having the right advisor. Similar to our open-architecture approach to trust services, we help connect clients to an open-architecture network of experienced third-party tax preparation and accounting firms, including firms such as PwC and EY TaxChat, for tax preparation, planning, and compliance support alongside your overall wealth strategy.

    Philanthropy Management

    Giving well takes as much intention as building wealth in the first place. We help clients define their philanthropic goals and structure a strategy, and the giving vehicles, to carry it forward across generations.

    Institutional Securities and Investment Banking Access

    Beyond wealth management, Morgan Stanley is one of the world's leading investment banks, and our clients benefit from that scale. We help connect clients to Morgan Stanley's Institutional Securities Group for capital markets access, corporate lending, and proprietary investment opportunities not typically available through a wealth management relationship alone.

    Signature Access: Lifestyle and Concierge Services

    Managing significant wealth touches more than a portfolio. Eligible clients gain access to specialists in private aviation, personal security, art advisory, household staffing, and health and wellness, resources most wealth managers simply don't offer.

    International Client Advisors

    For qualifying families with wealth, business interests, or citizenship spanning multiple countries, we coordinate with Morgan Stanley's International Client Advisors, each specializing in a specific country or region, bringing deep familiarity with the language, culture, and markets involved.

    Investment Management and Global Research

    Objective advice starts with more than one point of view. Through an open-architecture platform, including Morgan Stanley's Eaton Vance, Parametric, and North Haven capabilities, spanning customized and tax-efficient portfolio construction, and private equity, real assets, and credit, along with insights from the firm's Global Investment Committee and research teams, we help build portfolios informed by some of the industry's deepest intellectual capital.

WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

Our mission is to help your company elevate your workplace financial benefits—helping you to attract and retain top talent. Our end-to-end solutions support your company and employees at any stage of growth through a powerful combination of modern technology, insightful guidance, and dedicated service.

    Equity Solutions

    Equity ownership is a powerful motivator. Streamline equity management through our leading-edge technology and provide global audit-ready reporting and insights, alongside customizable participant experiences to engage and educate your employees on how to make the most of their benefits. Our global solutions support private and public companies at any stage of growth.

    • Equity Administration and Financial Reporting
    • Liquidity Events
    • 409A Valuation Services and Cap Table Management

    Learn more
    Retirement

    For your employees, retirement is more than a date in the future—it's a milestone that takes time, hard work, and the right tools. Through our consultative process, we strive to assist with the management of your fiduciary responsibilities and risk, simplify plan management, and help you improve retirement readiness for your employees.

    • Defined Contribution Consulting
    • Solutions-Oriented Plans
    • Fiduciary Investment Oversight

    Learn more
    Deferred Compensation

    Access a range of Nonqualified Deferred Compensation plan services or pick the ones that best fit your needs. We provide recordkeeping and plan design, portfolio construction services, and plan education for your executive talent. We help you determine the appropriate plan design and inform a funding strategy through a needs-based assessment and consultative approach.

    Services include:

    • Recordkeeping and Plan Design
    • Portfolio Construction
    • Wealth Management Services
    Learn more
    Executive Services

    Our dedicated team provides concierge-level support for your executives' equity compensation plans, from 10b5-1 trading plans to form filing related to Rule 144 transactions, to access to wealth management and tax-optimization strategies, so helping them navigate their complex financial needs with greater confidence and certainty:

    • Equity Compensation Services
    • Equity Award Analysis
    • Specialized Solutions
    Learn more
    Saving and Giving

    Saving and Giving benefits can make a real difference in your employees' lives as they can support the things that matter most to them—like saving for education and repaying student loans. Show that you are committed to your employees' priorities with leading-edge solutions that help them chart a path toward financial well-being.

    • College Savings
    • Student Loan Repayment and Refinancing
    • Charitable Giving
    Learn more
    Financial Wellness

    We offer Financial Wellness with every solution we provide. Through a powerful combination of education, digital tools and guidance, Financial Wellness is designed to address the unique needs of your employees and empower their financial journey at every stage. Give your employees the confidence to take charge of their finances.

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

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

101 W Big Beaver Rd
Suite 1200
Troy, MI 48084
US
Direct:
(248) 740-7179(248) 740-7179
Toll-Free:
(800) 227-1931(800) 227-1931
Fax:
(248) 462-7564(248) 462-7564
130 Kercheval Avenue
Grosse Pointe, MI 48236
US

Meet The GMA Group

Photo of Joseph Fisher

Joseph Fisher, CFP®, CIMA®, CMFC®

Senior Vice President, Wealth Management, Financial Advisor, Portfolio Management Director, Insurance Planning Director, Family Wealth Advisor, Financial Planning Specialist, Workplace Advisor – Equity Compensation, Alternative Investments Director
Phone:
(248) 740-7149(248) 740-7149
Photo of Darsh Kumar

Darsh Kumar, CFP®

Vice President, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Senior Portfolio Manager, Workplace Advisor - Equity Compensation
Phone:
(248) 740-7135(248) 740-7135
Photo of Kim Vallet

Kim Vallet

Registered Client Relationship Analyst, Alternative Investments Specialist
Phone:
(248) 740-7179(248) 740-7179
Photo of Jennifer Kafoury

Jennifer Kafoury

Client Relationship Analyst
Phone:
(248) 740-7188(248) 740-7188

About Joseph Fisher

A co-founder of the The GMA Group at Morgan Stanley, Joe works with select individuals, multi-generational families, physicians, and corporate executives. He takes pride in being the primary Financial Advisor for his clients and helps them with everything from education planning to estate planning strategies. Joe enjoys solving for the complexities that come with wealth and believes that investments should be the path of least resistance. His philosophy is that every client needs a financial plan. Joe and his team build deep relationships with all their clients and aspire to be the receivers of the very first call for every big life event.

With 15 years of experience, Joe is a Portfolio Management Director, Insurance Planning Director, Family Wealth Advisor and Financial Planning Specialist.

He has earned the CERTIFIED FINANCIAL PLANNER™, Certified Investment Management Analyst®, and Chartered Mutual Fund Counselor professional certifications in order to keep up with the latest investment strategies that may be available to his clients. He is also honored to have been recognized as a 5 Star Wealth Manager from 2016-2023. Joe has a passion for educating his clients and was previously a college professor. He holds an M.B.A. from Baker College in Finance.

Joe lives in Grosse Pointe with his wife, Blair and their three children: Savannah, Edison, and Grant. He is an active member of the PTO at Kerby Elementary School. Outside of the office, Joe enjoys complex strategy board games, gardening, and Lionel trains.

2016-2023 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2016-2023) These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:

2023 Award – 09/05/22 – 03/03/23 | 2022 Award - 09/03/21 – 03/11/22
2021 Award – 08/10/20 – 03/19/21 | 2020 Award - 08/01/19 – 03/20/20
2019 Award – 08/21/18 – 03/19/19 | 2018 Award – 08/30/17 – 03/19/18
2017 Award – 08/24/16 – 02/24/17 | 2016 Award – 10/22/15 – 03/09/16
Securities Agent: PR, NJ, MS, HI, NM, NY, IL, TN, FL, UT, SC, NE, NC, CO, WI, MO, IA, ND, ID, CT, AL, VT, OR, OK, NV, NH, MN, DC, CA, AZ, WA, ME, VA, MI, MD, IN, TX, PA, OH, GA, LA, MT, AR, MA, KY; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1370422
CA Insurance License #: 0M13934

About David R Zukowski

As a co-founder of The GMA Group at Morgan Stanley, David works with select individuals, multi-generational families, physicians, and corporate executives. He focuses in comprehensive financial planning and executive compensation structures. David helps clients with complex compensation issues, tax management, and legacy planning and enjoys helping them to understand all of their options. He is dedicated as a primary Financial Advisor to his clients, helping to ensure The GMA Group is one of the first calls made after any major life event.

Bringing 15 years of wealth management experience, David is an Alternative Investments Director, Executive Financial Services Director, Financial Planning Specialist, and Insurance Planning Director. He has earned the CERTIFIED FINANCIAL PLANNER™, Charted Retirement Planning Counselor™, and Retirement Income Certified Professional® certifications in order to serve his clients more deeply. He also holds the FINRA Series 7, 66, and 31, as well as the Life, Variable, and Health licenses. He earned a J.D. from Wayne State University and a B.S. in Accounting from Walsh College. David is a member of the State Bar of Michigan.

Born in Detroit, Michigan, David currently lives in Oakland Township with his wife and five kids, ages 2 to 18. He enjoys volunteering at his kids’ events. Outside of the office, when he’s not busy attending his kids’ activities, he also enjoys running and traveling.
Securities Agent: MS, PR, KY, OR, OK, MO, MI, MD, WI, NE, NC, ME, ID, VT, VA, PA, NY, MN, DC, SC, OH, IL, HI, CA, UT, TX, NH, ND, IN, IA, AZ, GA, FL, WA, TN, NV, AR, NM, NJ, MA, MT, CO, AL, CT, LA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1321599
CA Insurance License #: 0M08212

About Darsh Kumar

Darsh focus is in comprehensive financial planning and retirement planning. He takes pride in his caring approach and listens to uncover each client’s individual needs and priorities to help achieve their goals. He enjoys working closely with his clients to offer innovative strategies to help meet their complex needs. Darsh takes the time to understand every client to develop a diversified portfolio of investments focused on their specific objectives, aspirations, and risk tolerance.

Since joining Morgan Stanley in 2016, Darsh has earned the CERTIFIED FINANCIAL PLANNER™ certification to keep up with the most current strategies that may be available to his clients. He also holds the FINRA Series 7 and 66, as well as the Life, Variable and Health Insurance licenses. In his prior career, Darsh was a Ph.D. Staff Researcher and Project Team Lead at General Motors for more than two decades. Darsh deeply understands the needs of corporate executives and is highly detail oriented. He has been on the same side of the table of his clients and has an abiding respect for their priorities. As a life-long learner, Darsh holds a Ph.D and M.S. in Chemical Engineering from California Institute of Technology in Pasadena, California and a B.S. in Chemical Engineering from Indian Institute of Technology, Kanpur.

A resident of Troy, Michigan, Darsh has two sons and three grandchildren. He is passionate about his community and is actively involved with the Salvation Army, UNICEF, Bharatiya Temple of Troy, and the Sankara Eye Foundation. Outside of the office, he enjoys yoga, music, college football, and reading.
Securities Agent: NJ, MN, ME, KY, IN, AL, VA, PA, NV, GA, AR, CA, WA, MO, UT, NC, IL, CO, VT, SC, PR, OK, OH, MA, LA, FL, CT, TX, MS, IA, HI, TN, NY, MT, DC, AZ, WI, NM, MI, MD, ID, OR, NH, NE, ND; General Securities Representative; Investment Advisor Representative
NMLS#: 1554845

About JC Wilhelm

JC Wilhelm is a Vice President and Financial Advisor at Morgan Stanley, where he brings a wealth of experience in wealth management and strategic financial planning. With a Bachelor’s degree in Economics from the University of Michigan, along with the CERTIFIED FINANCIAL PLANNER™ and Chartered Retirement Planning Advisor designations, JC has built a career distinguished by a commitment to helping clients preserve and grow their financial legacies. Before joining Morgan Stanley, JC served as a Financial Analyst and Financial Advisor at Ameriprise, honing his skills in complex financial planning and investment strategies.

Focusing in exit planning and catering to the unique needs of successful individuals and families, JC leverages a deep understanding of wealth preservation and succession strategies. His client-centered approach helps to ensure that business owners, executives, and affluent families receive tailored advice that aligns with their financial goals and legacy aspirations. JC’s commitment to his clients goes beyond standard investment services, focusing on creating personalized strategies that help empower them to make informed, long-term financial decisions.

Outside of work, JC is dedicated to spending quality time with his family, including his wife and three children, making the most of his time with them through shared experiences and family activities. An avid golfer, he enjoys the challenge and camaraderie of the sport, often finding that it provides him with an ideal blend of relaxation and focus. Along with golf, JC has a passion for outdoor activities, seeking ways to stay active and appreciate nature, whether through hiking, fishing, or exploring new destinations with loved ones. His commitment to personal well-being and family time reflects his belief in a balanced life, values he also brings to his professional approach with clients.
Securities Agent: VA, SC, OR, NE, MS, CO, AZ, PA, ME, IL, PR, NJ, MT, ID, TN, IA, DC, TX, NM, KY, IN, HI, CT, UT, NH, ND, LA, GA, WA, NV, NC, MN, MI, AL, NY, FL, OK, OH, MO, MD, MA, CA, AR, WI, VT; General Securities Representative; Investment Advisor Representative
NMLS#: 2637901
CA Insurance License #: 4138727

About Eryck Little

Eryck J. Little is a Financial Advisor at Morgan Stanley who joined the firm in 2016. He is a retired U.S. Marine who honorably served for over 20 years. He received a Bachelor of Science in Business Administration (Management) with a focus in Finance from Columbia Southern University, a degree he earned while serving on active duty. His licenses include Series 7, Series 66, and Life, Health, and Variable Contracts Insurance. Eryck’s primary responsibilities include helping individuals, families, business owners, and nonprofit organizations prepare and stay organized in order to achieve their financial goals and position themselves for a successful future. His primary areas of focus are Individual Wealth Management, planning and strategy for business owners, and supporting nonprofit organizations with goal based planning and long-term relationship management.

Eryck believes a Financial Advisor’s role goes beyond selecting investments. His approach begins with listening to client concerns, identifying goals and priorities, providing individualized solutions, and monitoring progress over time with adjustments as circumstances evolve. His goal is to build lasting, meaningful relationships with clients and their families based on trust, communication, and follow-through.

Eryck currently resides in Sterling Heights, Michigan with his wife, April, and their three children. They have been married for 29 years. In his free time, Eryck enjoys spending time with his family, golfing, and tinkering in his woodshop.
Securities Agent: HI, NE, TX, PA, MO, GA, AL, NV, MI, AR, WI, VA, AZ, PR, OK, MT, MN, CT, CA, SC, OR, NM, MA, FL, CO, NJ, KY, VT, IN, TN, NY, NC, MD, IL, OH, MS, LA, NH, IA, ME, DC, ND, WA, UT, ID; General Securities Representative; Investment Advisor Representative
NMLS#: 1573346
CA Insurance License #: 0M55018

About Eric Weisgerber

Eric Weisgerber is a Financial Advisor at Morgan Stanley and an Insurance Planning Director. While attending Michigan State University, he spent the summer of 2015 as a Retirement Planning Intern with Morgan Stanley, an experience that exposed him to the process of implementing comprehensive investment solutions and gave him insight into the day-to-day activities of a Financial Advisor. After graduating from Michigan State University with a B.S. in Kinesiology in 2017, Eric pursued a career in the financial services industry and accepted a position with Prudential Annuities Sales in Philadelphia, Pennsylvania, where he was recognized as the 2018 Sales Associate of the Year. After a year with Prudential, he transitioned to Morgan Stanley in April 2019.

Eric’s primary responsibilities include reviewing the insurance needs of clients’ portfolios and helping clients understand how insurance can play a role in a comprehensive wealth management strategy. His experience in the insurance industry has provided him with a strong foundation for evaluating how various insurance solutions may complement broader financial planning goals. Most importantly, Eric has been focused on client relationship management, with an emphasis on fostering and strengthening the established relationships within his team’s practice. He is committed to providing consistent communication, dependable follow-through, and a high level of service for the families he supports.

As a passion within his line of work, Eric enjoys educating clients and prospects on the importance of planning topics such as Social Security, Medicare, and retirement planning. In support of this effort, Eric and his team have hosted educational seminars designed to strengthen clients’ understanding of these areas and reinforce the importance of proactive planning.

In his time away from the office, Eric enjoys spending time with his fiancée, Mikayla, with their wedding set for the Spring of 2027. Eric also enjoys playing new golf courses, traveling the state of Michigan and cheering on the Detroit Tigers. He and his fiancé spend much of their time with his dogs Lucy (husky/cattle mix) and Summit (Vizsla) going on walks and hiking trails.
Securities Agent: KY, PA, NC, MO, LA, IA, DC, CA, AR, WI, VA, OH, NH, NE, MI, MA, IN, NY, IL, GA, AZ, OK, WA, TX, PR, ME, ID, CO, TN, SC, NV, NJ, MD, ND, MS, MN, NM, HI, FL, OR, CT, AL, MT, VT, UT; General Securities Representative; Investment Advisor Representative
NMLS#: 1908681
CA Insurance License #: 4012303

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Shamar Evans

Wealth Solutions Associate - Cash Management
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Sia Hildebrand

Wealth Solutions Associate - Cash Management

About Kristopher Johnson

Kristopher Johnson is a Private Banker serving Morgan Stanley Wealth Management offices in Michigan and Ohio.

Private Bankers partner with 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.
Kristopher began his career in financial services in 2008 and joined Morgan Stanley in 2017. Prior to joining the firm, he was a Wealth Management Banking Advisor at Bank of America Merrill Lynch. He also served as a Wealth Management Lending Officer and Sales Trainer at Bank of America Merrill Lynch.

Kristopher is a graduate of the University of Michigan, where he received a Bachelor of Arts in Political Science, and Arizona State University’s W.P. Carey School of Business, where he received his Masters of Business Administration in Finance. He lives in Rochester, Michigan with his wife. Outside of the office, Kristopher enjoys exercising, watching sports, volunteering with local organizations, and spending time with family and friends.
NMLS#: 630462

About Joseph V. Portera

Joseph Portera is a Private Banker serving Morgan Stanley Wealth Management offices in Michigan.

Private Bankers partner with 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.

Joseph began his career in financial services in 2002 and joined Morgan Stanley in 2018. Prior to joining the firm, he served as a Commercial Lender and Market Director at JPMorgan Chase.

Joseph is a graduate of the Haworth College of Business at Western Michigan University where he received a Bachelor of Business Administration in Finance, and Keller Graduate School of Business where he received a Master’s in Business Administration in Finance & Accounting.

Joseph and his family currently reside in Grosse Pointe, Michigan. Outside of the office, he enjoys martial arts, skiing, tennis, and spending time with his family.
NMLS#: 1260889

About Shamar Evans

Shamar Evans is a Wealth Solutions Associate & Cash Engagement Specialist at Morgan Stanley providing dedicated support to Financial Advisors and their teams. Operating as an extension of the FA/Team, Shamar Evans collaborates with clients to discover how best to engage and enroll in the services available at Morgan Stanley during their onboarding journey, specifically cash management. Shamar Evans provides guidance across a wide suite of cash management offerings and is able to help open cash management accounts, transfer funds, assist with credit cards and provide education on the breadth of what Morgan Stanley has to offer in the cash management space.

About Sia Hildebrand

Sia Hildebrand is a Wealth Solutions Associate & Cash Engagement Specialist at Morgan Stanley providing dedicated support to Financial Advisors and their teams. Operating as an extension of the FA/Team, Sia collaborates with clients to discover how best to engage and enroll in the services available at Morgan Stanley during their onboarding journey, specifically cash management. Sia provides guidance across a wide suite of cash management offerings and is able to help open cash management accounts, transfer funds, assist with credit cards and provide education on the breadth of what Morgan Stanley has to offer in the cash management space.
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

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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 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.

For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.

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2Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

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3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

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

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

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6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

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7Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.

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8Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.

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9Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.

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10Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.

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11Morgan 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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12Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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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.

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