Evan M Semegran, CPM®
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, Lending Specialist, Founders Specialist
Phone:
(212) 492-6324(212) 492-6324
HLS Wealth Management at Morgan Stanley
Evan M Semegran, CPM®Nicole Drury, CFP®, CRPS®David B Glickstein, CFA®Stephanie Vitti, CFP®Larkin JulianMelanie Burnett, CRPS®
Direct:
(212) 492-6911(212) 492-6911
Toll-Free:
(800) 917-9662(800) 917-9662
Our Mission Statement
HLS Wealth Management helps multi-generational families and business owners reach their financial goals through personalized planning, disciplined portfolio management, and trusted relationships, providing clear strategies for confident decision-making.
Our Team
Our team is committed to simplifying the financial lives of clients we work with. While we work with many types of clients, we focus on successful multi-generational families and business owners. We collaborate with our clients to create financial plans that help them on a path toward reaching their goals, and we work with them continually to help keep them on track through all stages of their financial lives.
We believe the best relationships are built on trust, understanding and shared values. Discipline and patience mold our investment philosophy and are critical to helping achieve your goals. To that end, we are committed to the following core values that serve as the foundation of our practice:
• Simplicity
• Experience and Diversity
• Confidence in a Plan
• Portfolio Management
Our team is proud to have earned the Family Wealth Director, and Senior Portfolio Management Director distinctions. Additionally, we have received the following industry certifications:
• CFA, Chartered Financial Analyst
• CPM, Certified Portfolio Manager
• CFP®, Certified Financial Planner™
• CRPS®, Chartered Retirement Plans Specialist®
Each of these designations reflect our collective capabilities to provide in-depth consulting around matters such as intergenerational family wealth planning and portfolio management.
We are also proud to share that we were ranked by Barron's on its Top 250 Private Wealth management Teams list, ranking us #157 in 2025 and #131 for 2026.
We look forward to getting to know you and your family and sharing details on how we can help you reach your financial goals for today, for your retirement years, and for the generations that follow.
Barron's Top 250 Private Wealth Management Teams
Source: Barron's (Awarded May 2025, 2026). Data compiled by Barron's based for the period Jan 2024-Dec 2024.
We believe the best relationships are built on trust, understanding and shared values. Discipline and patience mold our investment philosophy and are critical to helping achieve your goals. To that end, we are committed to the following core values that serve as the foundation of our practice:
• Simplicity
• Experience and Diversity
• Confidence in a Plan
• Portfolio Management
Our team is proud to have earned the Family Wealth Director, and Senior Portfolio Management Director distinctions. Additionally, we have received the following industry certifications:
• CFA, Chartered Financial Analyst
• CPM, Certified Portfolio Manager
• CFP®, Certified Financial Planner™
• CRPS®, Chartered Retirement Plans Specialist®
Each of these designations reflect our collective capabilities to provide in-depth consulting around matters such as intergenerational family wealth planning and portfolio management.
We are also proud to share that we were ranked by Barron's on its Top 250 Private Wealth management Teams list, ranking us #157 in 2025 and #131 for 2026.
We look forward to getting to know you and your family and sharing details on how we can help you reach your financial goals for today, for your retirement years, and for the generations that follow.
Barron's Top 250 Private Wealth Management Teams
Source: Barron's (Awarded May 2025, 2026). Data compiled by Barron's based for the period Jan 2024-Dec 2024.
Services Include
- Wealth ManagementFootnote1
- Financial PlanningFootnote2
- Retirement PlanningFootnote3
- Professional Portfolio ManagementFootnote4
- Alternative InvestmentsFootnote5
- Estate Planning StrategiesFootnote6
- Business Succession PlanningFootnote7
- Philanthropic Services
- Cash Management and Lending ProductsFootnote8
- Trust ServicesFootnote9
- Life InsuranceFootnote10
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
HLS Core Values
The best relationships are built on trust, understanding, and shared values. We are committed to the following core values that serve as the foundation of our practice.
Simplicity
We believe that true value lies in our ability to simplify the lives of our clients. Constant innovation, improvement, and seeking out new ways to streamline our approach are deeply held values of our team.
Comfort In A Plan
From the very beginning, we sit down with our clients to understand their goals and build a plan that accommodates the possibility of future changes. Our clients take comfort in knowing that they have experienced financial professionals deploying a structured, comprehensive approach that always has their best interest in mind.
Experience And Diversity
Our combined experience, coupled with a multigenerational team with varying backgrounds, helps us provide thoughtful advice and solutions to complex wealth management problems.
Portfolio Management
With an emphasis on customization and tax efficiency, we focus a great deal of effort on allocating our clients’ investments according to their risk tolerance, and constantly monitoring their portfolios with their goals in minds.
FROM THE PLANNING DESK OF STEPHANIE VITTI & NICOLE DRURY
Next-Gen Donor Advised Funds
Next-Gen Donor Advised FundsHealth Savings Accounts - Distribution Strategies
Health Savings Accounts - Distribution StrategiesUpdates to 529 Saving Plans
Updates to 529 Saving PlansRoth Conversions
Roth ConversionsRetirement Contribution Limits for 2025 and 2026
Retirement Contribution Limits for 2025 and 2026Raising Generous Kids
Raising Generous KidsABLE Accounts
ABLE AccountsChoosing IRA Beneficiaries
Choosing IRA BeneficiariesThe Essential Guide to Creating a Financial Records Organizer
The Essential Guide to Creating a Financial Records OrganizerGains, Losses and Account Performance
Gains, Losses and Account PerformanceTax Loss Harvesting
Tax Loss HarvestingGifting to Minors
Gifting to MinorsUnderstanding Benchmarks
Understanding BenchmarksCaring for Aging Parents
Caring for Aging ParentsWhen Should Your Consider a Revocable Trust?
When Should Your Consider a Revocable Trust?View All Articles
View All ArticlesPortfolio Thoughts From David Glickstein
Portfolio Thoughts: Q2 2026
Portfolio Thoughts: Q2 2026Designations and Awards
CFP® - Certified Financial Planner™ (Nicole Drury and Stephanie Vitti)
The Certified Financial Planner™ designation is awarded to candidates who have demonstrated extensive knowledge in the areas of Education, Investment, Tax, Retirement, Estate and Insurance planning strategies. CFP® professionals must accrue several years of experience related to delivering financial planning services to clients and pass a comprehensive exam before calling themselves a CFP® Professional and are held to strict ethical standards to ensure financial planning recommendations are in the best interest of their clients.
CFA - Chartered Financial Analyst (David Glickstein)
A globally recognized professional designation that measures and certifies the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas such as accounting, economics, ethics, money management and security analysis. CFA charter holders wield an extensive body of knowledge in investing and global financial markets, placing clients’ interests above their own, dedicating themselves to helping achieve the best possible outcomes for investors.
FWD - Family Wealth Director (Nicole Drury)
The Family Wealth Director designation within Morgan Stanley is awarded to a highly trained group of select Financial Advisors serving an elite clientele facing more complex wealth management challenges. Family Wealth Directors within Morgan Stanly have extensive experience, dedicated training and access to specialized resources to address planning for ultra-high net worth families in the areas of wealth transfer, business succession planning, asset preservation strategies, family governance and wealth education.
CPM - Certified Portfolio Manager (Evan Semegran)
The Certified Portfolio Manager (CPM®) designation is a collaboration of the Academy of Certified Portfolio Managers and Columbia University. The academic component is designed to provide a deeper understanding of fundamental security analysis, asset allocation, and portfolio management concepts for financial services industry professionals managing discretionary portfolios encompassing Equity and Fixed Income analysis and portfolio management.
CRPS® - Chartered Retirement Plans Specialist® (Nicole Drury & Melanie Burnett)
The Chartered Retirement Plans Specialist® is a credential awarded by the College for Financial Planning for advisors focused on creating, implementing and maintaining retirement plans for businesses. The core areas of focus include IRAs, plans for small businesses, defined contribution plans, defined benefit plans and sponsors' fiduciary issues.
Senior Portfolio Management Director (Evan Semegran and David Glickstein)
Highly selective designation awarded to advisors based on strong compliance record and appropriate investment discipline allowing for the design and implementation of discretionary portfolio management services to clients
HLS Group - Received Recognition as #157 in 2025 & #131 in 2026 on Barron's Top 250 Private Wealth Management Teams List
The HLS Group received a ranking of #157 in 2025, and #131 in 2026, on Barron's 2025 Top 250 Private Wealth Management Teams.
Source: Barrons.com (April 2025, 2026). Barron's Top 100 Private Wealth Management Teams ranking awarded in 2025 & 2026. Each ranking was determined based on an evaluation process conducted by Barron's which concluded in December of the previous year the award was issued having commenced in December of the year before that.
Click here to view the listSource: Barrons.com (April 2025, 2026). Barron's Top 100 Private Wealth Management Teams ranking awarded in 2025 & 2026. Each ranking was determined based on an evaluation process conducted by Barron's which concluded in December of the previous year the award was issued having commenced in December of the year before that.
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
55 East 52nd Street
11th Floor
New York, NY 10055
US
Direct:
(212) 492-6911(212) 492-6911
Toll-Free:
(800) 917-9662(800) 917-9662
Meet HLS Wealth Management
Nicole Drury, CFP®, CRPS®
Managing Director, Wealth Management, Financial Advisor, Family Wealth Director
Phone:
(212) 492-6323(212) 492-6323
Managing Director, Wealth Management, Financial Advisor, Portfolio Management Director
Phone:
(212) 492-6792(212) 492-6792
Stephanie Vitti, CFP®
Senior Vice President, Wealth Management, Financial Advisor
Phone:
(212) 468-4526(212) 468-4526
Larkin Julian
Vice President, Investment Consultant
Phone:
(212) 492-6950(212) 492-6950
Melanie Burnett, CRPS®
First Vice President, Director of Client Experience
Phone:
(212) 492-6754(212) 492-6754
Joe D'Astolfo
Vice President, Chief of Staff
Phone:
(212) 692-2971(212) 692-2971
Brady Kessler, CFP®
Wealth Management Analyst
Phone:
(212) 551-7225(212) 551-7225
Dave Bent
Registered Associate
Phone:
(212) 492-6734(212) 492-6734
William Lasco
Registered Client Service Associate
Phone:
(212) 492-6306(212) 492-6306
Marshall Peterson
Client Service Associate
Phone:
(212) 492-6972(212) 492-6972
Marybelle Santiago
Executive Assistant
Phone:
(212) 492-6910(212) 492-6910
Vince DeMartis
Registered Client Service Associate
Phone:
(212) 492-6307(212) 492-6307
About Evan M Semegran
Evan began his wealth management career at Morgan Stanley in 2003 and is the Co-Founder of HLS Wealth Management. Evan partners with clients on portfolio management and comprehensive financial planning which entails helping to clarify priorities, set actionable goals, and implement strategies designed to support long-term outcomes. He takes pride in the team’s growth into a diverse, highly skilled group that strives to deliver consistently high standards of service.
Evan’s work has been recognized across the industry, including being named to Forbes’ Best-In-State Wealth Advisors* (2021–2025) and being a member of Morgan Stanley’s Chairman’s Club. He also serves as Co-Chair of Morgan Stanley’s National Financial Advisor Advisory Council, providing feedback to help strengthen communication between Financial Advisors and senior leadership at Morgan Stanley.
Evan earned a B.S. in Marketing from the University of Maryland and is committed to ongoing professional development. He holds the Certified Portfolio Management (CPM®) designation from Columbia University, Morgan Stanley’s Lending Specialist designation, Founders Specialist, and the Senior Portfolio Management Director designation. He is also a member of The Portfolio Management Institute.
Outside the office, Evan is an avid skier, has run several marathons and mentors college students towards a career in Wealth Management. He lives in Westchester, NY with his wife, three daughters, and their dog, Rex.
Evan’s work has been recognized across the industry, including being named to Forbes’ Best-In-State Wealth Advisors* (2021–2025) and being a member of Morgan Stanley’s Chairman’s Club. He also serves as Co-Chair of Morgan Stanley’s National Financial Advisor Advisory Council, providing feedback to help strengthen communication between Financial Advisors and senior leadership at Morgan Stanley.
Evan earned a B.S. in Marketing from the University of Maryland and is committed to ongoing professional development. He holds the Certified Portfolio Management (CPM®) designation from Columbia University, Morgan Stanley’s Lending Specialist designation, Founders Specialist, and the Senior Portfolio Management Director designation. He is also a member of The Portfolio Management Institute.
Outside the office, Evan is an avid skier, has run several marathons and mentors college students towards a career in Wealth Management. He lives in Westchester, NY with his wife, three daughters, and their dog, Rex.
Securities Agent: CA, DC, AL, WA, OH, MI, IN, GA, FL, SC, PR, NH, MD, IL, AK, VA, RI, OR, NY, NM, LA, KS, DE, CO, AZ, TX, PA, MN, ME, HI, CT, TN, WV, NJ, NC, VT, MO, MA, KY; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1261863
NMLS#: 1261863
About Nicole Drury
As a Financial Advisor at HLS Wealth Management at Morgan Stanley, Nicole Drury has come to believe that a structured plan built with clients’ long-term goals in mind is the key to making informed decisions about retirement and wealth.
A former Executive Chef, Nicole entered the financial services industry in 2007 after realizing that she and her new husband could benefit greatly from financial planning. This experience created the spark necessary to inspire Nicole to begin helping others in this same capacity. As a chef, she gained an appreciation for detail orientation, organization, and the ability to manage multiple people and tasks at once. These skills have been invaluable to her as a Financial Advisor, as she now brings them to bare in helping clients understand and articulate the objectives they have for their financial lives and helping them prepare to meet those goals.
Throughout her career, Nicole has been in constant search of new opportunities to expand her education and skillset in order to provide value to her clients. She has earned the Certified Financial Planner (CFP®) designation and plays a key role in the team’s financial planning efforts. Nicole has also attained Morgan Stanley’s Family Wealth Director title that is reserved for a select group of Financial Advisors serving High Net Worth clients facing more complex wealth management challenges. She works with these clients to provide guidance in the areas of wealth transfer, business succession planning, asset protection, and family governance. Additionally, as a Chartered Retirement Plans Specialist®, Nicole helps create, implement, and maintain retirement plans for businesses and their owners.
Due to her diligence and commitment, Nicole has been named to Morgan Stanley’s Master’s Club in recognition for consistency in providing world-class service to her clients and helping the to reach their financial and life goals.
Nicole is a graduate of Boston College with a BS in Marketing. She is proud of her association with The LIFT Council of Morgan Stanley, an organization dedicated to advancing women within the Wealth Management industry. In addition, she volunteers with the Achieve Foundation in its efforts to raise private funding for public education in her school district. Nicole resides in South Orange, New Jersey with her husband and two children.
A former Executive Chef, Nicole entered the financial services industry in 2007 after realizing that she and her new husband could benefit greatly from financial planning. This experience created the spark necessary to inspire Nicole to begin helping others in this same capacity. As a chef, she gained an appreciation for detail orientation, organization, and the ability to manage multiple people and tasks at once. These skills have been invaluable to her as a Financial Advisor, as she now brings them to bare in helping clients understand and articulate the objectives they have for their financial lives and helping them prepare to meet those goals.
Throughout her career, Nicole has been in constant search of new opportunities to expand her education and skillset in order to provide value to her clients. She has earned the Certified Financial Planner (CFP®) designation and plays a key role in the team’s financial planning efforts. Nicole has also attained Morgan Stanley’s Family Wealth Director title that is reserved for a select group of Financial Advisors serving High Net Worth clients facing more complex wealth management challenges. She works with these clients to provide guidance in the areas of wealth transfer, business succession planning, asset protection, and family governance. Additionally, as a Chartered Retirement Plans Specialist®, Nicole helps create, implement, and maintain retirement plans for businesses and their owners.
Due to her diligence and commitment, Nicole has been named to Morgan Stanley’s Master’s Club in recognition for consistency in providing world-class service to her clients and helping the to reach their financial and life goals.
Nicole is a graduate of Boston College with a BS in Marketing. She is proud of her association with The LIFT Council of Morgan Stanley, an organization dedicated to advancing women within the Wealth Management industry. In addition, she volunteers with the Achieve Foundation in its efforts to raise private funding for public education in her school district. Nicole resides in South Orange, New Jersey with her husband and two children.
Securities Agent: RI, AL, TX, IL, DE, DC, WV, OR, KY, VT, NC, MA, KS, AZ, MN, AK, PA, LA, HI, GA, SC, NY, CT, CA, WA, TN, OH, NM, NH, IN, FL, PR, MO, MI, CO, VA, NJ, MD, ME; General Securities Representative; Investment Advisor Representative
NMLS#: 1282540
NMLS#: 1282540
About David B Glickstein
As a Financial Advisor and Senior Portfolio Manager for HLS Wealth Management at Morgan Stanley, David Glickstein is responsible for providing comprehensive security analysis that is essential to the team’s investment process. By designing, implementing, and monitoring the custom portfolios used by the team, David is able to help ensure that each client’s investments match their risk tolerance and preferred asset allocation. In addition, David also publishes the team’s “Quarterly Portfolio Thoughts,” where he shares the team’s current thinking on investment themes and topics such as retirement planning and how current events impact markets.
David’s first experience with HLS Wealth Management began when he interned while attending the Stern School of Business at New York University. After graduating Magna Cum Laude with degrees in both Finance and CPA Accounting, David then served as an Investment Banking Analyst in the Natural Resources Group at Bank of America Merrill Lynch. David would then join HLS Wealth Management in 2009, where he continues to serve clients by gaining a thorough understanding of their present and future cash flow needs and planning accordingly.
Throughout his career, David has also sought to expand his knowledge and skillset in order to better serve clients. For this reason, he completed the education, experience, and examination requirements to receive the Chartered Financial Analyst professional designation.
David is a member of the CFA Institute. He lives with his wife and children in Monmouth County, New Jersey, and enjoys exploring New York City’s culinary offerings.
David’s first experience with HLS Wealth Management began when he interned while attending the Stern School of Business at New York University. After graduating Magna Cum Laude with degrees in both Finance and CPA Accounting, David then served as an Investment Banking Analyst in the Natural Resources Group at Bank of America Merrill Lynch. David would then join HLS Wealth Management in 2009, where he continues to serve clients by gaining a thorough understanding of their present and future cash flow needs and planning accordingly.
Throughout his career, David has also sought to expand his knowledge and skillset in order to better serve clients. For this reason, he completed the education, experience, and examination requirements to receive the Chartered Financial Analyst professional designation.
David is a member of the CFA Institute. He lives with his wife and children in Monmouth County, New Jersey, and enjoys exploring New York City’s culinary offerings.
Securities Agent: PR, NH, DC, AL, AZ, MA, WA, IN, IL, FL, CT, CO, CA, WV, MO, GA, DE, VT, VA, NM, NJ, AK, TN, PA, LA, KY, KS, OH, ME, RI, OR, NY, NC, MN, MI, MD, HI, TX, SC; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1255352
NMLS#: 1255352
About Stephanie Vitti
Stephanie began her career at Morgan Stanley in 2009. As a fixed income specialist, she provided market updates and investment strategies to Financial Advisors. She also built and maintained portfolios for high-net-worth clients.
In 2016, she joined HLS Wealth Management at Morgan Stanley. As a CERTIFIED FINANCIAL PLANNER™, Stephanie works with individuals and families to help them navigate virtually all aspects of wealth management, including investments, retirement planning strategies, insurance planning needs, and estate planning strategies.
Stephanie was named to Morgan Stanley’s Pacesetter’s Club from 2019-2024, a recognition program for Financial Advisors who demonstrate a high level of professional standards and client service early in their career.
Stephanie is a graduate of Cornell University and holds a BS in Industrial and Labor Relations. She is a member of the Cornell ILR Alumni Finance Council and sits on the Advisory Council for Empowering Girls through Steer for Student Athletes.
In her free time, Stephanie enjoys reading, yoga and learning to golf. She lives in Greenwich, CT with her husband and three young children.
Morgan Stanley Wealth Management Pacesetter’s Club members must meet a number of criteria including performance, conduct and compliance standards, revenue, length of experience and assets under supervision. Pacesetter’s Club membership is no guarantee of future performance.
In 2016, she joined HLS Wealth Management at Morgan Stanley. As a CERTIFIED FINANCIAL PLANNER™, Stephanie works with individuals and families to help them navigate virtually all aspects of wealth management, including investments, retirement planning strategies, insurance planning needs, and estate planning strategies.
Stephanie was named to Morgan Stanley’s Pacesetter’s Club from 2019-2024, a recognition program for Financial Advisors who demonstrate a high level of professional standards and client service early in their career.
Stephanie is a graduate of Cornell University and holds a BS in Industrial and Labor Relations. She is a member of the Cornell ILR Alumni Finance Council and sits on the Advisory Council for Empowering Girls through Steer for Student Athletes.
In her free time, Stephanie enjoys reading, yoga and learning to golf. She lives in Greenwich, CT with her husband and three young children.
Morgan Stanley Wealth Management Pacesetter’s Club members must meet a number of criteria including performance, conduct and compliance standards, revenue, length of experience and assets under supervision. Pacesetter’s Club membership is no guarantee of future performance.
Securities Agent: FL, WA, KS, MO, NH, SC, MI, IL, HI, DC, TX, PR, AL, OH, NY, MN, OR, ME, GA, CA, AZ, PA, MA, IN, TN, CO, RI, NC, LA, DE, CT, AK, VA, NM, NJ, KY, WV, VT, MD; General Securities Representative; Investment Advisor Representative
NMLS#: 1576033
NMLS#: 1576033
About Larkin Julian
As an Investment Consultant with HLS Wealth Management, Larkin works alongside the HLS partners to ensure our clients are receiving the top level of expertise, advice and service.
After graduating Presbyterian College with a BS in Business Management, Larkin began her career in the financial services industry at MetLife. She worked closely with Financial Advisors at firms such as Morgan Stanley, providing her expertise in retirement products. Through this role, she discovered her passion for helping families plan and have conversations around their goals and aspirations. She also realized that she wanted to work directly with the families she was helping. In 2016, Larkin joined Merrill Lynch as a Financial Advisor where planning for clients’ future and retirement became her core focus and then joined Morgan Stanley in 2024.
In her current role with the HLS team, Larkin plans to continue helping clients achieve their goals by having ongoing conversations as clients’ lives and needs continue to evolve.
Larkin resides in Greenwich, Connecticut with her husband and two young children. In her spare time, she enjoys workout classes, going to the beach with her family and traveling to explore new places.
After graduating Presbyterian College with a BS in Business Management, Larkin began her career in the financial services industry at MetLife. She worked closely with Financial Advisors at firms such as Morgan Stanley, providing her expertise in retirement products. Through this role, she discovered her passion for helping families plan and have conversations around their goals and aspirations. She also realized that she wanted to work directly with the families she was helping. In 2016, Larkin joined Merrill Lynch as a Financial Advisor where planning for clients’ future and retirement became her core focus and then joined Morgan Stanley in 2024.
In her current role with the HLS team, Larkin plans to continue helping clients achieve their goals by having ongoing conversations as clients’ lives and needs continue to evolve.
Larkin resides in Greenwich, Connecticut with her husband and two young children. In her spare time, she enjoys workout classes, going to the beach with her family and traveling to explore new places.
About Melanie Burnett
Melanie Burnett serves as Director of Client Experience for HLS Wealth Management, where she leads efforts to elevate and enhance every aspect of the client journey. Having been part of the team since its early years, she has played a significant role in shaping the service culture, client engagement strategy, and operational framework that support the team's continued growth.
Recognized for her dedication to service excellence and client advocacy, Melanie became the first professional within the organization to be appointed Director of Client Experience. In this role, she partners across the practice to develop innovative service strategies, strengthen client relationships, and ensure that every interaction reflects the team's commitment to personalized advice and exceptional care.
With more than two decades of industry experience, Melanie is passionate about building lasting relationships, anticipating client needs, and creating experiences that simplify complexity and foster confidence. Her leadership helps ensure that clients receive a seamless, responsive, and highly personalized experience throughout their relationship with the team.
Melanie earned a Bachelor of Arts in Art History from New York University. Outside of work, she is an advocate for pediatric and lung cancer research and enjoys spending time with family, attending sporting events, and exploring new recipes in the kitchen.
Recognized for her dedication to service excellence and client advocacy, Melanie became the first professional within the organization to be appointed Director of Client Experience. In this role, she partners across the practice to develop innovative service strategies, strengthen client relationships, and ensure that every interaction reflects the team's commitment to personalized advice and exceptional care.
With more than two decades of industry experience, Melanie is passionate about building lasting relationships, anticipating client needs, and creating experiences that simplify complexity and foster confidence. Her leadership helps ensure that clients receive a seamless, responsive, and highly personalized experience throughout their relationship with the team.
Melanie earned a Bachelor of Arts in Art History from New York University. Outside of work, she is an advocate for pediatric and lung cancer research and enjoys spending time with family, attending sporting events, and exploring new recipes in the kitchen.
About Joe D'Astolfo
Joe joined HLS Wealth Management in 2026 as the team’s Chief of Staff. In this role, Joe is responsible for managing business operations and supporting the productivity and career development of the team’s Support Professionals. He also leads the development, implementation, and management of the team’s strategic plan to ensure alignment between team priorities and broader business goals.
Joe has more than 15 years of experience in Wealth Management. After graduating from Villanova University with a B.S. in Finance, he spent eight years with UBS Financial Services before joining Morgan Stanley in 2019 as a Business Service Officer. He has spent much of his career as a member of the branch management team, supporting Financial Advisors and Support Professionals with day-to-day operations as well as business and career development.
He holds the FINRA Series 7, 9, 10, and 66 licenses.
Joe lives in Long Island with his wife and two children. He is an avid sports fan and enjoys playing golf and spending time with his family in his free time.
Joe has more than 15 years of experience in Wealth Management. After graduating from Villanova University with a B.S. in Finance, he spent eight years with UBS Financial Services before joining Morgan Stanley in 2019 as a Business Service Officer. He has spent much of his career as a member of the branch management team, supporting Financial Advisors and Support Professionals with day-to-day operations as well as business and career development.
He holds the FINRA Series 7, 9, 10, and 66 licenses.
Joe lives in Long Island with his wife and two children. He is an avid sports fan and enjoys playing golf and spending time with his family in his free time.
About Brady Kessler
Brady joined Morgan Stanley in 2024 after graduating from Ohio State University. A Massachusetts native, he earned a B.A. in Business Administration with a concentration in Finance and a minor in Real Estate — a foundation that gives him a well-rounded command of complex financial principles. He has also earned the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation, which he draws on to assist in creation of financial plans for clients.
Brady began his career at Morgan Stanley as a Client Relationship Analyst on the Northeast Regional team, where he developed a deep appreciation for the firm's operational excellence and built the client-first mindset that continues to guide his approach today.
Outside the office, Brady is an avid traveler and outdoor enthusiast who enjoys golfing and skiing. A loyal supporter of both Boston and Ohio State athletics, he loves catching a game and spending time with friends and family. Brady holds his Series 7 and Series 66 licenses.
Brady began his career at Morgan Stanley as a Client Relationship Analyst on the Northeast Regional team, where he developed a deep appreciation for the firm's operational excellence and built the client-first mindset that continues to guide his approach today.
Outside the office, Brady is an avid traveler and outdoor enthusiast who enjoys golfing and skiing. A loyal supporter of both Boston and Ohio State athletics, he loves catching a game and spending time with friends and family. Brady holds his Series 7 and Series 66 licenses.
About Dave Bent
Dave Bent is a Registered Associate with HLS Wealth Management, and as such, he is tasked with providing services ranging from processing cash and securities transfers, monitoring investment risk and assisting in trading activities to maintaining efficiency within the team’s operations. Over time, Dave’s role has expanded, as he now also provides vital support to the team’s Portfolio Managers by preparing client portfolio performance reports, portfolio analysis, alternative investments and market data/investment research reports.
Dave began his career in financial services in 2011 after graduating from Central Connecticut State University with a bachelor’s degree in Management. Starting at a boutique investment firm and later JP Morgan as a banker, Dave learned the importance of effective client communication and relationship management, as well as developed a deep understanding of foreign exchange trading and alternative investing. These skills would be invaluable as he moved to Morgan Stanley in 2014 with HLS Wealth Management, where he prides himself on his ability to maintain organization while staying flexible in the service of clients’ needs.
While in college, Dave earned an athletic scholarship for Cross Country and Track & Field, and he continues to be passionate about athletics to this day. He volunteers as a coach for CYO basketball and enjoys playing baseball, basketball and football with his two sons and gymnastics with his daughter. He also participates in a number of Morgan Stanley Global Volunteer initiatives, is a member of Morgan Stanley’s Latino/Diversity Employee Networking Group, a member of Morgan Stanley Diversity Council, a member of Association of Latino Professionals For America, and is a Professional Member of the CFA Society of New York. Dave resides in Brooklyn with his three children.
Dave began his career in financial services in 2011 after graduating from Central Connecticut State University with a bachelor’s degree in Management. Starting at a boutique investment firm and later JP Morgan as a banker, Dave learned the importance of effective client communication and relationship management, as well as developed a deep understanding of foreign exchange trading and alternative investing. These skills would be invaluable as he moved to Morgan Stanley in 2014 with HLS Wealth Management, where he prides himself on his ability to maintain organization while staying flexible in the service of clients’ needs.
While in college, Dave earned an athletic scholarship for Cross Country and Track & Field, and he continues to be passionate about athletics to this day. He volunteers as a coach for CYO basketball and enjoys playing baseball, basketball and football with his two sons and gymnastics with his daughter. He also participates in a number of Morgan Stanley Global Volunteer initiatives, is a member of Morgan Stanley’s Latino/Diversity Employee Networking Group, a member of Morgan Stanley Diversity Council, a member of Association of Latino Professionals For America, and is a Professional Member of the CFA Society of New York. Dave resides in Brooklyn with his three children.
About William Lasco
William attended the Darla Moore School of Business at the University of South Carolina, earning a degree with majors in Finance & Risk Management/Insurance.
After graduation, William continued expanding his financial knowledge by obtaining his Series 7 & Series 66 licenses in April and May of 2025.
William resides in Manhattan, New York, having relocated there in September 2025. Outside of work, William enjoys playing chess, working out, spending time with friends, watching sports, and playing basketball.
After graduation, William continued expanding his financial knowledge by obtaining his Series 7 & Series 66 licenses in April and May of 2025.
William resides in Manhattan, New York, having relocated there in September 2025. Outside of work, William enjoys playing chess, working out, spending time with friends, watching sports, and playing basketball.
About Marshall Peterson
A native of Cape Elizabeth, Maine, Marshall joined Morgan Stanley in 2021 after graduating from Loyola University Maryland with a B.A. in Business Administration/Finance and a minor in Entrepreneurship.
Marshall holds his Series 7 license and began his career with a Morgan Stanley Wealth Management group based in Rockville, Maryland, where he spent four years as an associate before joining HLS Wealth Management.
Outside of work, Marshall enjoys playing golf and softball, attending sporting events, and traveling with friends.
Marshall holds his Series 7 license and began his career with a Morgan Stanley Wealth Management group based in Rockville, Maryland, where he spent four years as an associate before joining HLS Wealth Management.
Outside of work, Marshall enjoys playing golf and softball, attending sporting events, and traveling with friends.
About Marybelle Santiago
A financial services veteran with over 25 years of experience, Marybelle Santiago is committed to handling each and every client concern with care. She has significant technology and systems knowledge, a contagiously positive attitude, strong commitment to client service, and excellent communications skills, as her fluency in Spanish plays an important role with HLS Wealth Management’s international clients.
Prior to joining The HLS Group, Marybelle worked for competitor firms in administrative roles before joining Morgan Stanley’s Miami office in 2008 as an Assistant to the Complex Manager. After moving back to New York in 2011, she took up her role as a Client Service Associate, eventually joining HLS Wealth Management in 2014. It is here that she leans heavily on her years of administrative experience and knowledge of the firm’s systems and organizations in order to provide the highest quality service and support to all clients.
An avid philanthropist, Marybelle has spearheaded charitable events for The Breast Cancer Association, Habitat for Humanity, the AIDS Organization, and Feed the Children. She is also active in the LGBTQ diversity network & the Latino Employee Network at Morgan Stanley. Marybelle is a passionate animal lover and is also an accomplished International Latin Ballroom Dancer. She lives in Park Slope with her partner and two dogs and enjoys traveling, sky-diving, and racing cars.
Prior to joining The HLS Group, Marybelle worked for competitor firms in administrative roles before joining Morgan Stanley’s Miami office in 2008 as an Assistant to the Complex Manager. After moving back to New York in 2011, she took up her role as a Client Service Associate, eventually joining HLS Wealth Management in 2014. It is here that she leans heavily on her years of administrative experience and knowledge of the firm’s systems and organizations in order to provide the highest quality service and support to all clients.
An avid philanthropist, Marybelle has spearheaded charitable events for The Breast Cancer Association, Habitat for Humanity, the AIDS Organization, and Feed the Children. She is also active in the LGBTQ diversity network & the Latino Employee Network at Morgan Stanley. Marybelle is a passionate animal lover and is also an accomplished International Latin Ballroom Dancer. She lives in Park Slope with her partner and two dogs and enjoys traveling, sky-diving, and racing cars.
About Vince DeMartis
Vince is originally from Greenwich, Connecticut, and currently resides in Manhattan, New York. He joined Morgan Stanley in 2023 after graduating from St. John’s University, where he earned a B.S. in Finance with a minor in Fintech.
Before joining HLS Wealth Management as a Registered Client Service Associate, Vince began his career at Morgan Stanley as a Virtual Engagement Associate. In that role, he served as both a Digital VEA and Retirement VEA, supporting financial advisors in driving business development and enhancing engagement with clients, prospects, and corporate retirement plan participants.
Since joining the firm, Vince has completed the Securities Industry Essentials (SIE) Exam, Series 7, Series 63, and Series 65. He has also developed strong knowledge of financial products, Morgan Stanley’s proprietary platforms, and digital marketing strategies.
While at St. John’s, Vince served as both Treasurer and President of his fraternity and was an active member of the Finance and Economics Society.
Outside of work, Vince enjoys following sports, staying active, volunteering in his community, and continuing to expand his knowledge of financial markets and blockchain technology. He is also active in his local church and volunteers as a coach for an eighth-grade basketball team in the Greenwich Basketball Association.
Before joining HLS Wealth Management as a Registered Client Service Associate, Vince began his career at Morgan Stanley as a Virtual Engagement Associate. In that role, he served as both a Digital VEA and Retirement VEA, supporting financial advisors in driving business development and enhancing engagement with clients, prospects, and corporate retirement plan participants.
Since joining the firm, Vince has completed the Securities Industry Essentials (SIE) Exam, Series 7, Series 63, and Series 65. He has also developed strong knowledge of financial products, Morgan Stanley’s proprietary platforms, and digital marketing strategies.
While at St. John’s, Vince served as both Treasurer and President of his fraternity and was an active member of the Finance and Economics Society.
Outside of work, Vince enjoys following sports, staying active, volunteering in his community, and continuing to expand his knowledge of financial markets and blockchain technology. He is also active in his local church and volunteers as a coach for an eighth-grade basketball team in the Greenwich Basketball Association.
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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
Jane Tarnovsky
Private Banker
About Jane Tarnovsky
Jane Tarnovsky is a Private Banker serving Morgan Stanley Wealth Management offices in New York.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Jane began her career in financial services in 2004, and joined Morgan Stanley in 2014 as an Interest Rate Derivatives Trade Support Director in Morgan Stanley’s ISG division. Prior to joining the firm, she was in Operations at JVB Financial and an Associate Manager at Prudential Financial.
Jane is a graduate of Rutgers University, where she received a Bachelor of Science in Finance and a Master of Business Administration in Finance. She lives in Brooklyn, New York with her family. Outside of the office, Jane is involved in her community and enjoys working out, cooking, traveling, gardening, and photography.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Jane began her career in financial services in 2004, and joined Morgan Stanley in 2014 as an Interest Rate Derivatives Trade Support Director in Morgan Stanley’s ISG division. Prior to joining the firm, she was in Operations at JVB Financial and an Associate Manager at Prudential Financial.
Jane is a graduate of Rutgers University, where she received a Bachelor of Science in Finance and a Master of Business Administration in Finance. She lives in Brooklyn, New York with her family. Outside of the office, Jane is involved in her community and enjoys working out, cooking, traveling, gardening, and photography.
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Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley 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.
2Morgan 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.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley’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.
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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
8Morgan 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
9Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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.
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.
2Morgan 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.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley’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.
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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
8Morgan 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
9Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
10Insurance products 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.
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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.
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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.
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CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
