Senior Vice President, Wealth Management, Financial Advisor, Portfolio Management Director
Phone:
(847) 504-2941(847) 504-2941
The Hartman Curio Group at Morgan Stanley
Direct:
(847) 504-2941(847) 504-2941
Our Mission Statement
We’re a passionate, polished, and professional team with a long track record of helping successful people live more comfortably today and feel more confident about the future.
Our Story
The story of The Hartman Curio Group is anything but typical. About thirty years ago Scott Hartman and Jeff Curio met on the very first day of their very first jobs in the financial services industry. It's a testament to what can happen when two like-minded people come together with one common mission—to help clients build wealth, minimize risk and forge a clear path toward achieving their goals. Today, that same commitment continues with the addition of Jeff's son, Nicholas Curio, helping carry forward the values, relationships, and client-focused approach that have defined the team from the beginning.
What sets us apart
When it comes to our clientele, we believe that less is more. We only serve a limited number of clients because it allows us to provide the attention you deserve. Our seasoned team is passionate about helping you and your family live more comfortably today and feel more confident about your future.
Professional. Passionate. Personal
We work with successful individuals, wealthy families, and small business owners, who are committed to following a strategic plan that was created exclusively for their needs. There's nothing cookie cutter about what we provide. When you entrust us to manage your wealth, you'll see how deeply we care about your success. Your milestones become our milestones.
If you're looking for a wealth management firm that delivers phenomenal service, simplifies the complex, and avoids "Wall Street jargon", we're the team for you. Reach out today to see what a difference we can make in your world.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
It starts with a financial plan. After that, anything is possible.
The Hartman Curio Group are true wealth planners. We believe that by investing the time it takes to understand your immediate needs and your long-term goals, we can customize a structured solution that provides the highest probability of success, while minimizing risk.
Our job is to allocate your assets properly, make sure your portfolio is efficient, mitigate your tax burden, and safeguard your wealth. Our team is highly experienced and passionate about your success. And that all starts by creating and cultivating a financial plan that's as unique to you as your fingerprint.
- Customized Investment Planning
- Risk Assessment
- Tax-Efficient Asset Allocation
- Tax-Mitigation Strategies
- Cash Management and Structured Lending
- Health and Life Insurance Solutions
- Income Planning and Distribution
- Social Security Analysis
- Industry-Leading Cybersecurity
- Risk Assesment Tools
Manage Your Wealth
Minimize Your Risk
Shape Your Retirement
Protect Your Assets
Family wealth that's measured in more than dollars and cents.
What motivates many of our clients is the desire to provide the best life possible for their families and build a legacy that can span generations. We recognize that every family we work with has its own unique dynamics and goals, so we tailor our approach to what matters most to you.
We provide services that go beyond the balance sheet. When you turn to us, we're there to serve your entire family. We can help your children and grandchildren understand that significant wealth creates unique opportunities, but it can also create complex challenges. The Hartman Curio Group is there for you and your loved ones throughout every step of your financial journey.
We provide services that go beyond the balance sheet. When you turn to us, we're there to serve your entire family. We can help your children and grandchildren understand that significant wealth creates unique opportunities, but it can also create complex challenges. The Hartman Curio Group is there for you and your loved ones throughout every step of your financial journey.
Trust & Estate Planning
We work collaboratively with your attorney to create a plan that aligns with your family's needs and objectives. For clients with highly complex estates, we can also provide access to Morgan Stanley's Family Office Resources team.
Next Gen Education
We provide your adult children and grandchildren with valuable lessons on money management, investing, entrepreneurship, estate planning, and what it means to be the beneficiary of a trust.
College Planning
We can create a tax-efficient strategy that enables you to proactively save for your children's or grandchildren's education.
Divorce Planning
One of life's greatest challenges is navigating a divorce while maintaining financial security. We have the experience to help guide you through this difficult transition.
Lifestyle Advisory Group ($10M in AUM)
Planning for tomorrow is important, but so is enjoying today. Select clients have access to exclusive concierge services, including:
• Private aviation guidance
• College admissions counseling
• Eldercare services
• Luxury travel and experiences
• Entertainment and event access
• Private aviation guidance
• College admissions counseling
• Eldercare services
• Luxury travel and experiences
• Entertainment and event access
We're in the business of helping you grow and protect your business
Small businesses are the backbone of America. Our team is highly experienced in helping business owners through every stage of the business lifecycle, from startup and growth to succession or sale. We offer solutions designed to address many of the challenges that can hinder growth, including cash flow management, tax mitigation, and strategies to attract and retain top talent.
Whether you own a small business or manage a medical practice, we can connect you to a world of opportunities through Morgan Stanley's vast resources, including:
Strategic Lending
To grow, it is important to invest in your business. We can help create a sophisticated lending solution tailored to your goals and designed to support your next stage of growth.
Retirement Savings Plans
We understand the importance of retirement plans and tax advantages for both you and your employees. We can help structure a plan that aligns with your objectives while providing benefits that attract and retain talent.
Tax Mitigation
We offer strategies to help minimize your tax burden and provide tax-overlay tools that offer greater visibility into both challenges and opportunities.
Buying or selling a business
We can help you navigate the complexities of acquisitions, expansion, and business transitions. When the time comes to sell or transfer your business, our experience and network can provide valuable guidance and resources.
Tap into a global powerhouse.
When you partner with The Hartman Curio Group, you gain access to a wealth of resources that come with being part of the Morgan Stanley network. You’ll experience a vast array of solutions, services and thought leadership—from fixed income and structured products to a High Net Worth Planning Department.
Morgan Stanley is an industry leader in areas that are designed to support your goals, including alternative investment opportunities, cybersecurity, and a range of innovative AI platforms.
Morgan Stanley is an industry leader in areas that are designed to support your goals, including alternative investment opportunities, cybersecurity, and a range of innovative AI platforms.
Wealth Management
We help clients achieve their financial goals through tailored solutions and personalized advice. Clients can also gain access to E*TRADE’s comprehensive directed platform.
Global Research
Our globally integrated team of market analysts, strategists and economists strive to help generate consistent returns, offering the analysis they need when they need it.
Institutional Securities Group
As one of the top firms in Investment Banking and Sales & Trading, we help institutional clients meet their strategic objectives with seamless advice and execution.
Investment Management
We deliver investment solutions, enhanced by the industry-leading customization and tax management expertise of Eaton Vance, across public and private markets worldwide.
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
111 S. Pfingsten Road
Suite 200
Deerfield, IL 60015
US
Direct:
(847) 504-2941(847) 504-2941
Meet The Hartman Curio Group
Senior Vice President, Wealth Management, Financial Advisor, Portfolio Management Director
Phone:
(847) 504-2942(847) 504-2942
Jill Rottman
Registered Client Relationship Analyst
Phone:
(847) 504-2943(847) 504-2943
Traci Pepevnik
Wealth Management Associate
Phone:
(847) 504-2933(847) 504-2933
About Me
I remember my first day in the financial services industry quite well. Across the desk from me was another new guy named Jeff who was also on day one. Little did I know then that 30 years later that young man would go on to become my trusted business partner today. The Hartman Curio Group was created in 2008, but the seeds of a powerful relationship were planted that day.
As a Portfolio Management Director, I’m passionate about making a positive impact on the lives of my clients and their families. It’s very rewarding to get to know a client, earn their trust, and then witness many good things they’ve been able to accomplish throughout the years. I may not have grown up wealthy, but I have tremendous respect for the doors it can open.
With over three decades of working at top firms including UBS, I recently returned to Morgan Stanley because I believe it provides my clients more opportunities to reach their goals. I hold a CPWA designation from the Booth School of Business at the University of Chicago and a CRPS designation. I graduated from the University of Illinois with a degree in Finance.
On a personal note, I love spending family time with my wife, Amy, and our three children. We enjoy staying active and exploring new destinations. I also like playing guitar whenever I get a free moment.
As a Portfolio Management Director, I’m passionate about making a positive impact on the lives of my clients and their families. It’s very rewarding to get to know a client, earn their trust, and then witness many good things they’ve been able to accomplish throughout the years. I may not have grown up wealthy, but I have tremendous respect for the doors it can open.
With over three decades of working at top firms including UBS, I recently returned to Morgan Stanley because I believe it provides my clients more opportunities to reach their goals. I hold a CPWA designation from the Booth School of Business at the University of Chicago and a CRPS designation. I graduated from the University of Illinois with a degree in Finance.
On a personal note, I love spending family time with my wife, Amy, and our three children. We enjoy staying active and exploring new destinations. I also like playing guitar whenever I get a free moment.
Securities Agent: GA, WI, WA, VA, UT, TX, TN, SD, SC, PA, OR, OH, NY, NV, NJ, NC, MT, MO, MN, MI, ME, MD, MA, KY, IN, IL, FL, DC, CT, CO, CA, AZ; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 2447227
NMLS#: 2447227
About Me
I love what I do and find it incredibly rewarding. I work closely with my clients to define their goals, set expectations, and execute a plan crafted exclusively for their needs.
My career in the financial services industry has spanned more than 30 years. While I'm technically a seasoned veteran, I still feel the same drive and passion that first inspired me to pursue this profession. As co-founder of The Hartman Curio Group, I play a pivotal role in delivering sophisticated financial advice tailored to each client's unique goals. My commitment to excellence is reflected in my Certified Private Wealth Advisor (CPWA®) designation, earned through the University of Chicago Booth School of Business.
As a Portfolio Management Director, I help clients manage wealth while mitigating risk. My focus is on comprehensive financial planning through a holistic approach that encompasses accumulation, distribution, and wealth transfer strategies. One of my primary areas of focus is developing asset protection and legacy planning solutions designed to enhance my clients' financial security and preserve their wealth for future generations.
On a personal note, I've been married to my wonderful wife, Melissa, since 2000. Together, we've raised three active boys, Nicholas, Vincent, and John. It has been a true pleasure to coach them in football, baseball, and basketball over the years. I'm also deeply committed to my community and volunteer at St. Patrick High School, Chicago's oldest all-boys Catholic high school.
My career in the financial services industry has spanned more than 30 years. While I'm technically a seasoned veteran, I still feel the same drive and passion that first inspired me to pursue this profession. As co-founder of The Hartman Curio Group, I play a pivotal role in delivering sophisticated financial advice tailored to each client's unique goals. My commitment to excellence is reflected in my Certified Private Wealth Advisor (CPWA®) designation, earned through the University of Chicago Booth School of Business.
As a Portfolio Management Director, I help clients manage wealth while mitigating risk. My focus is on comprehensive financial planning through a holistic approach that encompasses accumulation, distribution, and wealth transfer strategies. One of my primary areas of focus is developing asset protection and legacy planning solutions designed to enhance my clients' financial security and preserve their wealth for future generations.
On a personal note, I've been married to my wonderful wife, Melissa, since 2000. Together, we've raised three active boys, Nicholas, Vincent, and John. It has been a true pleasure to coach them in football, baseball, and basketball over the years. I'm also deeply committed to my community and volunteer at St. Patrick High School, Chicago's oldest all-boys Catholic high school.
Securities Agent: TN, TX, UT, VA, WA, WI, GA, AZ, CA, CO, CT, DC, FL, IL, IN, KY, MA, MD, ME, MI, MN, MO, MT, NC, NJ, NV, NY, OH, OR, PA, SC, SD; General Securities Representative; Investment Advisor Representative
NMLS#: 2438624
NMLS#: 2438624
About Jill Rottman
Jill graduated with her Bachelor of Arts in Speech Communication from the University of Illinois at Urbana-Champaign, marking the beginning of her journey in the finance industry. In 2001, Jill embarked on her finance career as a Sales Associate at Griffin, Kubik, Stephens & Thompson Inc. (GKST), a bond firm based in Chicago. Her commitment and experience led her to transition with her former team to Morgan Stanley in 2007, where she served as a Senior Registered Sales Associate until 2011.
Jill took a break from her career to focus on her family, raising her two sons until 2020. During this time, she found her way back to the finance world when Hartman Curio welcomed her to UBS Financial as a Client Service Associate. In 2022, she continued her journey alongside Hartman Curio by transitioning to Morgan Stanley as a Registered Client Relationship Analyst.
Outside of work, Jill finds immense joy in supporting her sons in their various sporting endeavors. She is also deeply committed to volunteering within her school communities and enjoys cooking with her family. She is happily married to her husband Tom and is the proud mother of two sons, Frank and Dean.
Jill took a break from her career to focus on her family, raising her two sons until 2020. During this time, she found her way back to the finance world when Hartman Curio welcomed her to UBS Financial as a Client Service Associate. In 2022, she continued her journey alongside Hartman Curio by transitioning to Morgan Stanley as a Registered Client Relationship Analyst.
Outside of work, Jill finds immense joy in supporting her sons in their various sporting endeavors. She is also deeply committed to volunteering within her school communities and enjoys cooking with her family. She is happily married to her husband Tom and is the proud mother of two sons, Frank and Dean.
About Traci Pepevnik
Traci Pepevnik is a Wealth Management Associate. She joined Morgan Stanley in 2001 and began her career in financial services in 1995. Traci has a B.A. from Roosevelt University. Her direct phone number is 1-847-504-2933.
Contact Scott Hartman
Contact Jeff Curio
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Samuel Reichman
Planning Associate
Adam Teckie
Vice President, Taxable Fixed Income Sales
About Samuel Reichman
Sam Reichman is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define the goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. Sam provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from the University of Miami and received the Financial Planning Specialist® designation from the College for Financial Planning. Sam is originally from Deerfield, IL and currently resides in Chicago, IL.
He earned his undergraduate degree from the University of Miami and received the Financial Planning Specialist® designation from the College for Financial Planning. Sam is originally from Deerfield, IL and currently resides in Chicago, IL.
About Adam Teckie
Adam Teckie, Vice President, Taxable Fixed Income Sales joined the firm in 2023 and brings over twenty years of fixed income experience and expertise to his role. As a Taxable Fixed Income Sales specialist, Adam focuses on delivering timely market color and actionable trade ideas, partnering with financial advisors on portfolio construction and relative-value opportunities across the full spectrum of taxable fixed income—including investment grade and high yield corporates, U.S. Treasuries, agencies, MBS/structured products, and brokered CDs. Adam supports advisor engagement through targeted product guidance, market updates, and trade implementation support.
Prior to his current position, Adam held progressive roles at Morgan Stanley including manager of the Fixed Income Specialist team. Before joining Morgan Stanley, Adam held senior institutional fixed income roles across multiple firms including Bloomberg, TP ICAP, and Hartfield, Titus & Donnelly building deep experience spanning market structure, liquidity, and execution across credit and rates products.
Adam graduated from New York University earning a BA with a concentration in International Political Economy. Adam is based in New York City with his wife and young son.
Prior to his current position, Adam held progressive roles at Morgan Stanley including manager of the Fixed Income Specialist team. Before joining Morgan Stanley, Adam held senior institutional fixed income roles across multiple firms including Bloomberg, TP ICAP, and Hartfield, Titus & Donnelly building deep experience spanning market structure, liquidity, and execution across credit and rates products.
Adam graduated from New York University earning a BA with a concentration in International Political Economy. Adam is based in New York City with his wife and young son.
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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 consult with your Financial Advisor to understand these differences.
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.
When 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.
Morgan Stanley Wealth Management Fixed Income Sales and Product Professionals provide services to Morgan Stanley Wealth Management Financial Advisors for information purposes only. They do not provide recommendations or solicitations to participate in any offer or sale of a security or trading strategy. It is the responsibility of the Morgan Stanley Wealth Management Financial Advisor to take into account the client's circumstances, investment objectives and risk tolerance before offering or selling securities to a client, to ensure such offer or sale is appropriate and consistent with the applicable standard of care.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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 consult with your Financial Advisor to understand these differences.
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.
When 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.
Morgan Stanley Wealth Management Fixed Income Sales and Product Professionals provide services to Morgan Stanley Wealth Management Financial Advisors for information purposes only. They do not provide recommendations or solicitations to participate in any offer or sale of a security or trading strategy. It is the responsibility of the Morgan Stanley Wealth Management Financial Advisor to take into account the client's circumstances, investment objectives and risk tolerance before offering or selling securities to a client, to ensure such offer or sale is appropriate and consistent with the applicable standard of care.
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
A Simple Six-Step Retirement Checkup
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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
Iran Conflict: Seven Takeaways for Investors
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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
529 Plans: A Powerful Tool to Save for Education
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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
Ready to start a conversation? Contact The Hartman Curio Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
3Morgan 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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Alternative 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.
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 and other legal matters.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
3Morgan 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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Alternative 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.
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 and other legal matters.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
