Wade Harvey
Executive Director, Financial Advisor, Workplace Advisor - Equity Compensation
Phone:
(863) 499-1516(863) 499-1516
The Heritage Group at Morgan Stanley
Direct:
(863) 499-1533(863) 499-1533
Toll-Free:
(800) 654-0081(800) 654-0081
Industry Award WinnerOur Mission Statement
A tenured team of financial professionals helping to develop comprehensive, multigenerational wealth plans along with a commitment to our client’s success, while delivering a superior level of service.
The Heritage Group at Morgan Stanley
We believe success in achieving important financial goals starts with a comprehensive wealth strategy. We will help you define what is most important to you and then formulate the strategies that are appropriate for your needs, whether you are accumulating wealth or investing for income, solidifying your retirement plan or devising a distribution approach that helps meet your lifestyle and legacy goals.
The Heritage Group: 2024 - 2026 Forbes Best-In-State Wealth Management Team
Wade Harvey: 2022 - 2025 Forbes Best-In-State Wealth Advisor
Kurt Harvey: 2025 Forbes Top Next-Gen Wealth Advisor Best-In-State
• 2024-2026 Forbes Best-In-State Wealth Management Teams
[Source: Forbes.com (Awarded Jan 2024-2026). Data compiled by SHOOK Research based on 12-month time period concluding in June of year prior to the issuance of the award.]
• 2022-2024 Forbes Best-In-State Wealth Advisors
[Source: Forbes.com (Awarded Apr 2022-2024) Data compiled by SHOOK Research LLC based on 12-month time period concluding in June of year prior to the issuance of the award.]
• 2025 Forbes Top Next-Gen Wealth Advisors Best-In-State
[Source: Forbes (Awarded August 2025). Data compiled by SHOOK Research based on time period from Mar 2024-Mar 2025.]
The Heritage Group: 2024 - 2026 Forbes Best-In-State Wealth Management Team
Wade Harvey: 2022 - 2025 Forbes Best-In-State Wealth Advisor
Kurt Harvey: 2025 Forbes Top Next-Gen Wealth Advisor Best-In-State
• 2024-2026 Forbes Best-In-State Wealth Management Teams
[Source: Forbes.com (Awarded Jan 2024-2026). Data compiled by SHOOK Research based on 12-month time period concluding in June of year prior to the issuance of the award.]
• 2022-2024 Forbes Best-In-State Wealth Advisors
[Source: Forbes.com (Awarded Apr 2022-2024) Data compiled by SHOOK Research LLC based on 12-month time period concluding in June of year prior to the issuance of the award.]
• 2025 Forbes Top Next-Gen Wealth Advisors Best-In-State
[Source: Forbes (Awarded August 2025). Data compiled by SHOOK Research based on time period from Mar 2024-Mar 2025.]
Services Include
- 401(k) Rollovers
- 529 PlansFootnote1
- AnnuitiesFootnote2
- Cash ManagementFootnote3
- Endowments and FoundationsFootnote4
- Estate Planning StrategiesFootnote5
- Financial PlanningFootnote6
- Life InsuranceFootnote7
- Professional Portfolio ManagementFootnote8
- Trust AccountsFootnote9
- Alternative InvestmentsFootnote10
- Certificates of DepositFootnote11
- Lending Products
- Precious MetalsFootnote12
- Retirement PlanningFootnote13
- Trust Services*
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
WORKING WITH YOU:
As your dedicated wealth management team, our role is to tailor a personalized financial strategy which fits your needs. In our experience working with clients, we have developed a step-by-step approach to service:
Discovery Process
We take the time to fully understand you and your family. Whether you’re planning for retirement, purchasing a home, or living out your golden years – we consider all of your challenges, goals, and aspirations when building your financial picture.
Forming Your Strategy
Using your life goals as our compass, we create a risk-balanced strategy which maps a clear path to achieving your success.
Implementing Your Plan
We apply extensive research and analysis, and also utilize Morgan Stanley’s full suite of resources, to ensure swift decisive action in all market scenarios.
Measuring Your Success
We check in with you to deliver metrics around your portfolio, and ultimately measure trajectory towards your goals. Our ultimate mission is your success and well-being.
Financial Planning
By reviewing your goals, assets, liabilities, and other important information, we can design and implement a financial plan tailored to your goals.
Retirement Planning
Retirement planning is important no matter what stage of life you’re in. We can help review strategies to maximize your assets and income with a keen eye on asset allocation, asset location, and taxes.
Estate Planning Strategies
Working with your professional advisors, we can advise and assist with ensuring your savings is passed on to your desired heirs and charities.
Professional Portfolio Management
Our offering of investment products and solutions are extensively vetted by Morgan Stanley. As your Financial Advisors, we will help you construct and design a portfolio to achieve your goals.
Cash Management and Lending Products
Cash and Liability management are integral to the planning process. We offer the same cash management services that a traditional bank offers, and more. We also have solutions for Mortgages and Securities Lending.
Trust Services
A flexible, third party corporate trustee program providing administration services along with personalized service and support from your Financial Advisor team.
401k Rollovers
Open investment architecture along with guidance and flexibility on distributions.
Life Insurance
Permanent and term offerings available from many of the largest and most reliable insurance companies. Your financial advisor will guide you through the application process and ensure your current policies are setup as desired.
INDIVIDUAL PLANS FOR INDIVIDUALS LIKE YOU:
Goals you set today will evolve over time. Our process is designed to evolve with them - and with the changing circumstances of your life. Holistic in its approach, our planning process will encompass all the elements of your financial and personal life, making sure they align with your current and future goals.
Leveraging a sophisticated suite of analytical tools, as well as decades of industry experience, our team can help you take charge of your financial future and achieve your goals.
Leveraging a sophisticated suite of analytical tools, as well as decades of industry experience, our team can help you take charge of your financial future and achieve your goals.
1. Personal:
Highly individualized and committed to helping you achieve financial success.
2. Flexible:
Responsive to changes in your life and in your priorities over time.
3. Comprehensive:
Covering a broad array of investment products and services, with preferred benefits tied to your valued status with us.
Certified Financial Planner® (CFP®)
CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first.
Kurt and Hamilton hold this designation.
Kurt and Hamilton hold this designation.
VALUABLE TOOLS AND RESOURCES:
Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies we have to offer our clients. We have also included resources meant to transform complex financial analysis and research into concise and easily digestible content.
2026 Tax Tables
With tax season seemingly always right around the corner, it's best to be as informed as possible with the updated 2026 tax tables.
Access Here
2026 Maximum Benefit & Contribution Limits
The Internal Revenue Service (IRS) recently announced increases in contribution limits to 401(k) and other tax-deferred retirement plans to support the continuous rise in costs of living and other expenses.
Acces Here
US Policy Pulse: OBBBA Cheat Sheet
Earlier this year, Congress passed the "One Big Beautiful Bill Act." Morgan Stanley analysts review some key investment and tax aspects that may impact you personal financial plan.
Access Here
On The Markets Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
Read The Latest Report
Morgan Stanley Ideas Podcast
The Morgan Stanley Ideas Podcast brings you revealing stories about the world of business, finance, technology and beyond.
Check Out The Latest Episode
Top 5 Mistakes Investors Make in a Market Sell-Off
Whether it is panic selling, hiding out in cash, or trading frantically during volatile markets, investors tend to make several mistakes that can hurt them long-term. Know how to spot—and avoid—the most common bad behaviors.
Click Here for More
You Can't Manage Portfolio Risk Without Seeing The Big Picture
What if there were a resource that could show you where your investment exposures are and how they might affect your returns in different scenarios?
Click Here for More
Innovative Ways to Pay for Education
A 529 plan is a great way to invest for future education costs, but there are also other options to raise the funds you need.
Click Here for More
6 Money Questions to Ask Your Partner Before You Commit
Thinking of taking the next step with someone special? Head off money headaches by talking about your finances first.
Click Here for MoreAWARD-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
225 East Lemon St
1st Fl
Lakeland, FL 33801
US
Direct:
(863) 499-1533(863) 499-1533
Toll-Free:
(800) 654-0081(800) 654-0081
Fax:
(863) 808-0309(863) 808-0309
Meet The Heritage Group
Kurt J. Harvey, CFP®
First Vice President, Financial Advisor, Family Wealth Advisor, Workplace Advisor - Equity Compensation
Phone:
(863) 499-1505(863) 499-1505
D. Hamilton Hooks, CFP®
First Vice President, Financial Advisor, Workplace Advisor - Equity Compensation
Phone:
(863) 499-1525(863) 499-1525
Marcelo Tebet
Financial Advisor, Financial Planning Specialist
Phone:
(863) 499-1538(863) 499-1538
Angela Gauthier
Portfolio Associate
Phone:
(863) 687-6211(863) 687-6211
Alicia J Jones
Registered Client Service Associate
Phone:
(863) 687-6211(863) 687-6211
About Wade Harvey
Wade, Executive Director and Financial Advisor, joined Smith Barney (now Morgan Stanley) in 1990. Wade grew up in Lakeland and attended Florida Southern College where he graduated with a Bachelor of Science degree in Business Administration. He holds Series 7, 24, 63, and 65 licenses as well as a Life, Health, and Variable Annuities license.
Wade served on the Finance Committee at his church, First United Methodist of Lakeland, and is a former City of Lakeland Charter Review Committee member. He is a boating and fishing enthusiast and enjoys experiencing Florida’s great outdoors. Wade and his wife Beth have two adult children, Kurt and Tori, as well as three grandsons Finn, Wells, Banks, and one granddaughter, Estelle.
Wade served on the Finance Committee at his church, First United Methodist of Lakeland, and is a former City of Lakeland Charter Review Committee member. He is a boating and fishing enthusiast and enjoys experiencing Florida’s great outdoors. Wade and his wife Beth have two adult children, Kurt and Tori, as well as three grandsons Finn, Wells, Banks, and one granddaughter, Estelle.
Securities Agent: PA, NJ, MI, AL, WY, VA, UT, MO, MD, IN, ID, WA, TX, MT, DE, DC, CO, WI, OH, NM, AR, NV, NE, MA, IL, AZ, NH, CT, CA, NY, NC, KS, GA, FL, VT, ME, TN, SC; General Securities Principal; General Securities Representative; Investment Advisor Representative
CA Insurance License #: 4138083
CA Insurance License #: 4138083
About Kurt J. Harvey
Kurt was born and raised in Lakeland, FL. After graduating as Valedictorian from Lakeland High School in 2008, Kurt went on to earn a Finance degree from the University of Florida. After graduating from UF, Kurt began his career working as a Financial Representative at Fidelity Investments in Jacksonville, FL. He joined the Heritage Group at Morgan Stanley in the spring of 2013 and is a CERTIFIED FINANCIAL PLANNER™. Kurt and his wife Molly have one daughter, Estelle. In his spare time, Kurt enjoys fishing, hunting, and hiking.
Securities Agent: MI, MD, GA, DC, NE, WA, NJ, FL, VT, VA, SC, PA, MO, CO, IN, AL, UT, OR, NC, IL, ID, AZ, AR, WI, OH, NY, MA, DE, TN, NM, NH, ME, KS, CT, CA, TX, MT; General Securities Representative; Investment Advisor Representative
NMLS#: 1413957
CA Insurance License #: 4138082
AR Insurance License #: 17120002
NMLS#: 1413957
CA Insurance License #: 4138082
AR Insurance License #: 17120002
About D. Hamilton Hooks
Hamilton was born and raised in Lakeland, FL. After graduating from Lakeland High School in 2001, he attended the University of Florida where he graduated in 2006 with a Bachelor of Arts degree. He achieved a Master of Business Administration with a specialization in Finance from the University of South Florida in 2010 and the CERTIFIED FINANCIAL PLANNER™ designation in 2014. Shortly after graduation he began working for Morgan Stanley Smith Barney (now Morgan Stanley) in the Tampa, FL office. In 2012, Hamilton joined the Heritage Group at Morgan Stanley and now works as a Financial Advisor on the team. He is involved in Leadership Lakeland, and sits on the YMCA of West Central Florida and Lakeland Regional Hospital Foundation boards. Hamilton and his wife Neda, who also works for Morgan Stanley, have a young daughter, Stella, and son, Hamilton. In his free time, Hamilton enjoys playing tennis and golf as well as traveling.
Securities Agent: CT, MD, TN, ME, PA, NM, MT, ID, DE, AZ, VA, OH, MO, FL, MS, WI, UT, SC, RI, NY, NH, NC, IN, CA, MI, KS, IL, CO, TX, NJ, AR, VT, NV, MA, LA, AL, WA, NE, MN, GA, DC; General Securities Representative; Investment Advisor Representative
NMLS#: 1694907
CA Insurance License #: 0H83958
NMLS#: 1694907
CA Insurance License #: 0H83958
About Marcelo Tebet
Marcelo is a Financial Advisor who holds the Series 7, Series 66, and Life, Health, and Variable Annuities licenses, as well as the Financial Planning Specialist designation. He joined the Heritage Group at Morgan Stanley in 2026 after spending three years in the Naples, Florida branch.
Marcelo’s areas of focus include asset allocation, financial planning, and tax-efficient investment strategies. He is passionate about helping clients navigate complex financial decisions with clarity, discipline, and a long-term perspective. Before beginning his career in Wealth Management, Marcelo played professional tennis and competed internationally before continuing his athletic and academic career at Florida Gulf Coast University, where he played Division I tennis. He graduated from FGCU with both a Bachelor’s Degree and a Master’s Degree from the FGCU Daveler & Kauanui School of Entrepreneurship.
Fluent in Portuguese and Spanish, Marcelo is able to connect with and support a diverse range of clients and families.
On a personal note, Marcelo enjoys spending time with his wife, Lexi, their daughter, Gisele, their Labradoodle, Jersey, and their rescued cat, Cleo. Golf, tennis, and Formula 1 racing are among his passions.
Marcelo’s areas of focus include asset allocation, financial planning, and tax-efficient investment strategies. He is passionate about helping clients navigate complex financial decisions with clarity, discipline, and a long-term perspective. Before beginning his career in Wealth Management, Marcelo played professional tennis and competed internationally before continuing his athletic and academic career at Florida Gulf Coast University, where he played Division I tennis. He graduated from FGCU with both a Bachelor’s Degree and a Master’s Degree from the FGCU Daveler & Kauanui School of Entrepreneurship.
Fluent in Portuguese and Spanish, Marcelo is able to connect with and support a diverse range of clients and families.
On a personal note, Marcelo enjoys spending time with his wife, Lexi, their daughter, Gisele, their Labradoodle, Jersey, and their rescued cat, Cleo. Golf, tennis, and Formula 1 racing are among his passions.
Securities Agent: HI, GA, UT, NV, LA, CT, AL, VT, IL, WA, TN, MS, KS, IN, WI, TX, OK, MD, MA, ID, NJ, AR, NY, MN, DC, CO, AZ, VA, SC, NM, NE, MT, DE, NC, MI, ME, FL, CA, PA, OR, OH, MO, AK, NH, KY; General Securities Representative; Investment Advisor Representative
NMLS#: 2573598
NMLS#: 2573598
About Angela Gauthier
Angela was raised in Walker, LA. She graduated from Louisiana State University, earning a Bachelor of Science degree in Business Administration with a concentration in Marketing. Angela then went on to earn a Master of Business Administration degree from Southeastern Louisiana University. After finishing her education in 2007, she began working as Client Service Associate for Smith Barney (now Morgan Stanley) where she received her Series 7 and 66. In 2008 she and her husband Brandon relocated to Florida, transferring to the Lakeland office where she began working for the Heritage Group at Morgan Stanley. She is responsible for the team’s administrative functions, and contributing to the day to day operations.
Angela enjoys spending time with her family, her husband Brandon and son Baylen. She also enjoys traveling, photography, and reading.
Angela enjoys spending time with her family, her husband Brandon and son Baylen. She also enjoys traveling, photography, and reading.
About Alicia J Jones
Alicia Jones is a Client Service Associate with the Heritage Group at Morgan Stanley. She holds her Series 7 and Series 66 licenses and provides the team with exceptional client service. Alicia focuses on working closely with clients and assisting them in creating and achieving their financial goals.
Prior to joining Morgan Stanley, Alicia received her B.S. from Florida A&M University where she majored in Business Administration. She then received her MBA from North Greenville University. Being active in her community, she actively gives back to her college. Alicia has had a passion for investing since she was young and recognized the importance of organizing and taking care of your financials and made it her goal to help clients do the same.
Alicia was born in Japan as her father served in the U.S. Air Force. Outside of the office, you can find her attending sporting events, watching movies, playing basketball, and spending time with her family.
Prior to joining Morgan Stanley, Alicia received her B.S. from Florida A&M University where she majored in Business Administration. She then received her MBA from North Greenville University. Being active in her community, she actively gives back to her college. Alicia has had a passion for investing since she was young and recognized the importance of organizing and taking care of your financials and made it her goal to help clients do the same.
Alicia was born in Japan as her father served in the U.S. Air Force. Outside of the office, you can find her attending sporting events, watching movies, playing basketball, and spending time with her family.
Contact Wade Harvey
Contact Kurt J. Harvey
Contact D. Hamilton Hooks
Contact Marcelo Tebet
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2024-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2024-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Forbes Best-In-State Wealth Advisors
2022-2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com (Awarded 2022-2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Forbes Top Next-Gen Wealth Advisors Best-In-State
Forbes Top Next-Gen Wealth Advisors Best-in-State Source: Forbes.com (Awarded Aug 2025) Data compiled by SHOOK Research LLC for the period 3/31/24 - 3/31/25.
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Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
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
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Heritage Group today.
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.
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
2Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
3Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan 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.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
9Morgan 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.
10Alternative 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.
11Investors 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.
12Physical precious metals are non-regulated products. Precious metals are speculative investments, which may experience short-term and long-term price volatility. The value of precious metals investments may fluctuate and may appreciate or decline, depending on market conditions. If sold in a declining market, the price you receive may be less than your original investment. Unlike bonds and stocks, precious metals do not make interest or dividend payments. Therefore, precious metals may not be appropriate for investors who require current income. Precious metals are commodities that should be safely stored, which may impose additional costs on the investor. The Securities Investor Protection Corporation (“SIPC”) provides certain protection for customers’ cash and securities in the event of a brokerage firm’s bankruptcy, other financial difficulties, or if customers’ assets are missing. SIPC protection does not apply to precious metals or other commodities.
13When 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
2Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
3Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan 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.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
9Morgan 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.
10Alternative 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.
11Investors 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.
12Physical precious metals are non-regulated products. Precious metals are speculative investments, which may experience short-term and long-term price volatility. The value of precious metals investments may fluctuate and may appreciate or decline, depending on market conditions. If sold in a declining market, the price you receive may be less than your original investment. Unlike bonds and stocks, precious metals do not make interest or dividend payments. Therefore, precious metals may not be appropriate for investors who require current income. Precious metals are commodities that should be safely stored, which may impose additional costs on the investor. The Securities Investor Protection Corporation (“SIPC”) provides certain protection for customers’ cash and securities in the event of a brokerage firm’s bankruptcy, other financial difficulties, or if customers’ assets are missing. SIPC protection does not apply to precious metals or other commodities.
13When 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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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), 5378280 (5/2026)
