David Joel Gordon, CFP®, CIMA®, CDFA®
Executive Director, Financial Advisor, Senior Portfolio Management Director, Investing with Impact Director, Certified Divorce Financial Analyst
Phone:
(847) 291-5500(847) 291-5500
The Gordon Financial Group at Morgan Stanley
Direct:
(847) 291-5500(847) 291-5500
Toll-Free:
(855) 310-9090(855) 310-9090
Our Mission Statement
As trusted advisors with national clientele, we actively manage portfolios to align your wealth with your values. Sustainable and socially responsible investments are two of the many available lenses we can use to improve expected returns, reduce risk and stay true to your values. We regularly collaborate with clients like you to help make informed decisions, especially as you navigate critical life stage transitions – when it matters the most to your life and legacy.
Our Message
We understand the importance of a comprehensive financial view - especially when making key life transitions. Divorce, relocation, retirement and wealth transfer require professional guidance and seasoned advice. David Gordon, an Executive Director, offers advanced credentials, documented expertise, and decades of experience. A CERTIFIED FINANCIAL PLANNER professional, David is among select Morgan Stanley Financial Advisors who have earned the Senior Portfolio Management Director designation. This allows for fiduciary oversight and actively-managed portfolios. He is a member of Morgan Stanley's President's Club of top producing advisors. In addition to personalized portfolios, we offer clients with a comprehensive framework to identify and prioritize over 100 social and environmental impact preferences.
What drives us?
We take pride in leveraging Morgan Stanley's world class capabilities to both protect assets and help our clients make informed financial decisions. We celebrate the financial well-being of our clients, and we understand that sound financial management can help contribute to longer, happier lives. We respect that decisions made during life's critical transitions can be especially complex and often have lasting implications for your life and legacy. We care about understanding what matters to our clients, and we enjoy our role in their successes. We look forward to helping identify and achieve your goals with the support and confidence of our disciplined process and experienced advice.
Why Morgan Stanley?
Morgan Stanley is the one of the world's most respected global financial services firms, and the only major firm offering comprehensive social and environmental impact portfolio analysis. We have the scale, resources and strength to help clients achieve their objectives. Morgan Stanley, the largest firm in the industry, supports its advisors with a dedicated staff and state of the art technology. Our sole purpose is to provide our clients with the best advice possible.
Why Us?
Our hands-on, fiduciary approach offers you a combination of active portfolio management and high-service, high-content personalized financial planning. With the world-renowned resources and constant oversight of Morgan Stanley, we can help you rest at ease while we navigate volatile markets and help plan for changing life circumstances while aligning your investments to reflect your social and environmental objectives.
Services Include
- Wealth ManagementFootnote1
- Sustainable InvestingFootnote2
- Retirement PlanningFootnote3
- Financial PlanningFootnote4
- Donor Advised Funds
- Professional Portfolio ManagementFootnote5
- Asset Management
- 401(k) Rollovers
- Divorce Financial AnalysisFootnote6
- LGBT+ Planning ServicesFootnote7
- Endowments and FoundationsFootnote8
- Planning for Individuals with Special Needs
- 529 PlansFootnote9
- Estate Planning StrategiesFootnote10
- Trust ServicesFootnote11
- Philanthropic ManagementFootnote12
- Life InsuranceFootnote13
- Corporate Retirement PlansFootnote14
- Corporate Pension Plans
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
A TEAM YOU CAN TRUST
The Gordon Financial Group combines our unique capabilities with the vast resources of Morgan Stanley to support your goals at every life stage. Our commitment to building, preserving and managing the wealth of our clients forms the foundation of everything we do. We take time to understand your goals and pay attention to the details in your life. We treat our clients like they were our family, and sometimes they are!
Our hands-on, fiduciary approach offers you a combination of active portfolio management and high-service, high-content personalized financial planning including regular communication and transparent no-fee pricing. With the world-renowned resources and constant oversight of Morgan Stanley, we can help you rest at ease while we navigate volatile markets and help plan for changing life circumstances while aligning your investments to reflect your social and environmental objectives.
Goals Planning
We work with you to develop a plan that includes not just investments, but also ways to help mitigate taxes, manage your everyday finances and address borrowing needs.
Risk Management
We have meaningful conversations with you around portfolio construction, risk and your financial goals.
Advice and Investments
Our clients benefit from access to the intellectual capital of our Global Investment Committee, a group of leading market experts uniquely dedicated to providing high-quality, industry-leading investment ideas.
Legacy Planning
We provide estate planning resources including a comprehensive analysis of your current plan along with ideas and solutions for future legacy planning objectives.
INVESTING WITH IMPACT – ESG
Studies show that filtering investments through an ESG lens has historically improved returns while significantly reducing market risk and volatility. We create sustainable and impact investing solutions that seek to deliver competitive financial returns, while driving positive environmental, social and governance (ESG) outcomes.
As an Investing with Impact Director, a designation assigned to a small group of advisors who have significantly incorporated a sustainability focus into their practice, I can introduce you on the many ESG strategies and resources available through the firm. Together we will discover, assess and align the United Nations sustainable development goals to create your own personalized Impact Quotient. We will then craft portfolio solutions tailored to align your portfolio with your purpose.
In an industry first, our Morgan Stanley Impact Quotient (MSIQ) tool delivers a comprehensive framework to identify and prioritize over 100 social and environmental impact preferences. MSIQ is available exclusively to Morgan Stanley clients and specially trained advisors.
PLAN FOR YOUR FUTURE
Regardless of what stage your life is in - moving ahead in your career, enjoying retirement or somewhere in between - The Gordon Financial Group at Morgan Stanley can help you achieve your financial goals.
Do you want to purchase a vacation home, fund your children's or grandchildren's education, spend your retirement as you've dreamed - or all of the above? Together we can create a personalized and dynamic wealth management strategy to help you prepare for a successful financial future.
Using a suite of tools that includes goal-specific analysis, we can work with you to create a realistic, holistic strategy that integrates the various aspects of your financial life, including your investments and cash management needs.
We us a disciplined, 4 step process featuring comprehensive wealth management, proactive financial planning and customized portfolio strategies.
- Understand your personal life circumstances and upcoming financial decisions
- Review your current assets and allocations
- Determine your goals, risk tolerance and time horizon
- Goal: Create a written Financial Plan
- Consider your goals and existing assets
- Select suitable asset classes, vehicles and, if applicable, distribution schedules
- Goal: Optimize portolio and determine performance benchmarks
- Select products and managers
- Select products and managers
- Goal: Allocate funds efficiently
- Personal Communication
- Meet regularly to discuss objectives and strategy
- Active management to fit changing goals and market conditions
- Goal: Maintain optimized portfolio and planning guidance
1. Establish Objectives and Goals
2. Design Strategy
3. Implementation
4. Ongoing Review
Awards & Recognitions
David has written and/or been quoted in over 100 articles on financial and investment issues in publications including US News and World Report, Smart Money, Chicago Tribune, Kiplingers Retirement Report, Mutual Fund Magazine, Ticker Magazine, Practical Accounting, Your Money, Dow Jones News Wire and Investment Advisor, Registered Rep Magazine (Featured Columnist), Women’s Financial Network, Journal of the American Medical Association, Journal of Investment Consulting, Investments & Wealth Monitor, Financial Planning Magazine, Investment News, CBS MarketWatch, Consumer Reports/Money Advisor, Lake County Bar Docket and The American Bar Journal.
David has co-authored examination questions and study materials for two of the most valued certifications in the industry: CERTIFIED FINANCIAL PLANNER™ and Certified Investment Management Analyst. Independently, David had earned national awards from both sponsoring organizations. He has also written and helped design the Federal Uniform Investment Advisor licensing exam, known as the Series 65 Exam, which is required for all Investment Advisor Representatives (IARs) in the United States.
David continues to give back to the community and the industry that has given so much to him. He is an active supporter of organizations including Chicago JUF, Lake County Bar Foundation, NPR, Yoga Alliance Foundation, League of Women Voters, Doctors Without Borders, and a number of environmental and social impact groups such as Southern Poverty Law Center, Environmental Defense Fund, Union of Concerned Scientists, Nature Conservancy, Inc., EarthJustice and, GREEN AMERICA.
David has co-authored examination questions and study materials for two of the most valued certifications in the industry: CERTIFIED FINANCIAL PLANNER™ and Certified Investment Management Analyst. Independently, David had earned national awards from both sponsoring organizations. He has also written and helped design the Federal Uniform Investment Advisor licensing exam, known as the Series 65 Exam, which is required for all Investment Advisor Representatives (IARs) in the United States.
David continues to give back to the community and the industry that has given so much to him. He is an active supporter of organizations including Chicago JUF, Lake County Bar Foundation, NPR, Yoga Alliance Foundation, League of Women Voters, Doctors Without Borders, and a number of environmental and social impact groups such as Southern Poverty Law Center, Environmental Defense Fund, Union of Concerned Scientists, Nature Conservancy, Inc., EarthJustice and, GREEN AMERICA.
Named to the 2024 Forbes Best-In-State Wealth Advisors ranking*
Selection for this list is based on comprehensive criteria including firm nomination, industry experience and best practices. However, I believe that the trust and confidence you place in me are among the most important factors in my receipt of this recognition.
Named to the 2023 Forbes Best-In-State Wealth Advisors ranking**
Being Named to the Forbes' 2023 Best-In-State Wealth Advisors list is a testament to the experience, focus, and dedication we bring to our clients' financial future.
Investments & Wealth Institute Kessler Award (2002)
For “Lasting Contribution to the Investment Consulting Industry”.
The CERTIFIED FINANCIAL PLANNER™ Annual Article Award (2001)
For writings in the field of Ethics and Fiduciary
Investment Policy.
Investment Policy.
The Lake County Bar Association President’s Award (2011)
Location
111 S Pfingsten Rd
Ste 200
Deerfield, IL 60015
US
Direct:
(847) 291-5500(847) 291-5500
Toll-Free:
(855) 310-9090(855) 310-9090
Meet The Gordon Financial Group
Karina Elperin
Financial Advisor, Financial Planning Specialist
Phone:
(847) 291-5502(847) 291-5502
Rafal Fidowicz
Portfolio Associate
Phone:
(847) 291-5503(847) 291-5503
About David Joel Gordon
How did I get started?
David J. Gordon is a lifelong Chicagoan and graduate of Niles West High School, where he developed a lifelong passion for jewelry and achieved awards as a goldsmith and stonecutter. A non-practicing attorney by training, David graduated from the University of Colorado, Boulder with degrees in molecular biology and philosophy. He received his Doctor of Jurisprudence (JD) degree from DePaul University College of Law.
In 1983, David joined the elite training program at Merrill Lynch and quickly became known as one of the most innovative young financial advisors, applying his knowledge of family, divorce, tax and estate planning matters to create a loyal client base. He was among the first to convert his practice to a fee-based compensation model upon recognizing the value in aligning client and advisor goals. In 1991, he joined Wells Fargo, where he was in the top 1% of their over 15,000 financial advisers in terms of production.
To better serve his clients, David joined Morgan Stanley in 2013 and was designated a Senior Portfolio Management Director, a select Morgan Stanley internal designation. David has also played a leadership role in setting industry standards for ethics and fiduciary responsibility.
David continues to pursue his passions in jewelry-making, race car driving, yoga, skiing, music and art. He has lived in Deerfield for over 25 years.
What are my qualifications?
David Gordon’s distinguishing designations and activities include:
• Forbes Best-In-State Wealth Advisors, 2023*
• CERTIFIED FINANCIAL PLANNER™ (CFP®)
• Certified Investment Management Analyst™ (CIMA®)
• Chartered Mutual Fund Counselor® (CMFC®)
• Accredited Domestic Partnership AdvisorSM (ADPA®)
• Certified Divorce Financial Analyst® (CDFA™)
• Faculty Ethics Instructor: The Wharton School®, CIMA® Certification
Program
• President Emeritus: Greater North Shore Estate Planning Council
• Immediate Past Chair: Ethics Committee, Investments & Wealth Institute®
• Industry Arbitrator with FINRA (Financial Industry Regulatory Association)
• Public Accountant and Attorney Professional Education Sponsor (Teacher):
Illinois & Colorado
• Professional Advisory Board: Chicago JUF
• Board Member: Lake County Bar Foundation
• Executive Board Member: Lincoln Park Ski Club, Chicago
What is my Professional Reputation?
David Gordon is a sought after source for financial advice from academic institutions, trade associations and the media.
• David has written textbook chapters on fixed-income investing and over 100
articles, many for prestigious investment and law journals. He appeared on
radio and television as an authority on wealth management issues.
• David received the national Kessler Award from the Investment
Management Consultants Association for “Outstanding Contribution to the
Field of Investment” (2002).
• David served on the faculty of The Wharton School’s CIMA® Certification
Program where he wrote several text book chapters and taught a course on
ethics.
• David received the CERTIFIED FINANCIAL PLANNER ™ Annual Article
Award for writings in the field of Ethics and Fiduciary Investment Policy
(2001).
• David has been quoted in and/or written for US News and World Report,
Smart Money, The Chicago Tribune, American Bar Association Journal, and
The Wall Street Journal Smart Money Magazine.
• Ethics instructor at the Wharton School® of the University of Pennsylvania
for the Certified Investment Management Analyst™ (CIMA®) program.
*Source: Forbes.com (Awarded Jan 2023) Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/22. Awards Disclosures
David J. Gordon is a lifelong Chicagoan and graduate of Niles West High School, where he developed a lifelong passion for jewelry and achieved awards as a goldsmith and stonecutter. A non-practicing attorney by training, David graduated from the University of Colorado, Boulder with degrees in molecular biology and philosophy. He received his Doctor of Jurisprudence (JD) degree from DePaul University College of Law.
In 1983, David joined the elite training program at Merrill Lynch and quickly became known as one of the most innovative young financial advisors, applying his knowledge of family, divorce, tax and estate planning matters to create a loyal client base. He was among the first to convert his practice to a fee-based compensation model upon recognizing the value in aligning client and advisor goals. In 1991, he joined Wells Fargo, where he was in the top 1% of their over 15,000 financial advisers in terms of production.
To better serve his clients, David joined Morgan Stanley in 2013 and was designated a Senior Portfolio Management Director, a select Morgan Stanley internal designation. David has also played a leadership role in setting industry standards for ethics and fiduciary responsibility.
David continues to pursue his passions in jewelry-making, race car driving, yoga, skiing, music and art. He has lived in Deerfield for over 25 years.
What are my qualifications?
David Gordon’s distinguishing designations and activities include:
• Forbes Best-In-State Wealth Advisors, 2023*
• CERTIFIED FINANCIAL PLANNER™ (CFP®)
• Certified Investment Management Analyst™ (CIMA®)
• Chartered Mutual Fund Counselor® (CMFC®)
• Accredited Domestic Partnership AdvisorSM (ADPA®)
• Certified Divorce Financial Analyst® (CDFA™)
• Faculty Ethics Instructor: The Wharton School®, CIMA® Certification
Program
• President Emeritus: Greater North Shore Estate Planning Council
• Immediate Past Chair: Ethics Committee, Investments & Wealth Institute®
• Industry Arbitrator with FINRA (Financial Industry Regulatory Association)
• Public Accountant and Attorney Professional Education Sponsor (Teacher):
Illinois & Colorado
• Professional Advisory Board: Chicago JUF
• Board Member: Lake County Bar Foundation
• Executive Board Member: Lincoln Park Ski Club, Chicago
What is my Professional Reputation?
David Gordon is a sought after source for financial advice from academic institutions, trade associations and the media.
• David has written textbook chapters on fixed-income investing and over 100
articles, many for prestigious investment and law journals. He appeared on
radio and television as an authority on wealth management issues.
• David received the national Kessler Award from the Investment
Management Consultants Association for “Outstanding Contribution to the
Field of Investment” (2002).
• David served on the faculty of The Wharton School’s CIMA® Certification
Program where he wrote several text book chapters and taught a course on
ethics.
• David received the CERTIFIED FINANCIAL PLANNER ™ Annual Article
Award for writings in the field of Ethics and Fiduciary Investment Policy
(2001).
• David has been quoted in and/or written for US News and World Report,
Smart Money, The Chicago Tribune, American Bar Association Journal, and
The Wall Street Journal Smart Money Magazine.
• Ethics instructor at the Wharton School® of the University of Pennsylvania
for the Certified Investment Management Analyst™ (CIMA®) program.
*Source: Forbes.com (Awarded Jan 2023) Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/22. Awards Disclosures
Securities Agent: UT, PA, FL, CO, MS, TX, TN, NY, NC, MA, AR, WA, MN, IN, ID, DE, AZ, SC, MT, VA, OH, MD, NJ, WI, MI, KS, IL, CA, HI; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1268300
NMLS#: 1268300
About Karina Elperin
Karina has been helping clients make financial decisions for over 25 years. An accomplished Financial Advisor and credentialled Portfolio Manager, she graduated from Lake Forest College in 2000 with a B.A. degree in business, followed by an MBA degree in finance from the Keller Graduate School of Management. While obtaining her MBA, she acquired her Series 7 registration in 2000, her Series 66 in 2001, and her Illinois Life and Health Insurance license in 2002. In 2022, Karina completed the Certified Financial Planning Certification program thru Northwestern University followed by her Financial Planning Specialist certification in 2024. In 2025, Karina received the select Morgan Stanley designation of Portfolio Manager.
Karina works directly with individual clients and families to create and implement their Financial Plans. Her highly-credentialed training, attention to detail, and deep industry experience helps clients achieve their financial goals.
As an invaluable member of the Gordon Financial Group, Karina frequently assumes a lead role in orchestrating client events, speaking opportunities, and educational engagements. She lives in Northbrook, Illinois and spends free time visiting exotic car dealerships with her teenage son Ari, taking long walks and bike rides, and frequenting the gym. She loves helping friends and family redecorate their homes, shop for special occasion outfits and jewelry, and generally enjoying family life.
Karina works directly with individual clients and families to create and implement their Financial Plans. Her highly-credentialed training, attention to detail, and deep industry experience helps clients achieve their financial goals.
As an invaluable member of the Gordon Financial Group, Karina frequently assumes a lead role in orchestrating client events, speaking opportunities, and educational engagements. She lives in Northbrook, Illinois and spends free time visiting exotic car dealerships with her teenage son Ari, taking long walks and bike rides, and frequenting the gym. She loves helping friends and family redecorate their homes, shop for special occasion outfits and jewelry, and generally enjoying family life.
Securities Agent: VT, ID, WY, OH, CA, TN, NJ, ME, LA, GA, DE, AZ, AK, TX, SC, PR, AL, WV, PA, NH, MI, KY, NC, MO, HI, CT, WI, NY, NM, MS, MA, FL, VA, SD, RI, KS, IA, CO, AR, WA, VI, UT, NV, ND, MD, IN, IL, DC, OR, OK, NE, MT, MN; General Securities Representative; Investment Advisor Representative
NMLS#: 2621467
NMLS#: 2621467
About Rafal Fidowicz
Rafal began his career in the financial industry in 2016 with a focus in the self-directed investment field where he assisted and helped clients understand personal investing and trading. He received his bachelor’s degree in finance from the University of Illinois at Chicago in 2015, and shortly after obtained his Series 7 and 66.
Rafal’s responsibilities include client administration, account maintenance, assisting the team with its marketing and research efforts and facilitating the use of the digital tools that allow clients access to a comprehensive view of their total wealth, goals, and progress. Using his skills in customer service and knowledge of the financial markets, Rafal proudly aids the Gordon Financial Group at Morgan Stanley with day-to-day operations and special projects. He is well-versed in numerous computer applications, including LifeView®, Total Wealth View, and Portfolio Risk Platform (Aladdin®). Furthermore, he is actively expanding his knowledge in the field by participating in courses and obtaining new licenses.
In his free time, Rafal enjoys motorsports, travel and new experiences.
Rafal’s responsibilities include client administration, account maintenance, assisting the team with its marketing and research efforts and facilitating the use of the digital tools that allow clients access to a comprehensive view of their total wealth, goals, and progress. Using his skills in customer service and knowledge of the financial markets, Rafal proudly aids the Gordon Financial Group at Morgan Stanley with day-to-day operations and special projects. He is well-versed in numerous computer applications, including LifeView®, Total Wealth View, and Portfolio Risk Platform (Aladdin®). Furthermore, he is actively expanding his knowledge in the field by participating in courses and obtaining new licenses.
In his free time, Rafal enjoys motorsports, travel and new experiences.
Contact David Joel Gordon
Contact Karina Elperin
Wealth Management
From Our Team
The Gordon Financial Group Brochure
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
Are You Prepared for Tax Day?
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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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Ready to start a conversation? Contact The Gordon Financial 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.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
2The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
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6Morgan 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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
8Morgan 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.
9Investors 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.
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.
11Morgan 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.
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 and other legal matters.
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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.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14When 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.
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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.
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Awards Disclosures
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
2The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley 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.
5Morgan 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.
6Morgan 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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
8Morgan 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.
9Investors 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.
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.
11Morgan 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.
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 and other legal matters.
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.
13Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
14When 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.
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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)
