Senior Vice President, Financial Advisor, Alternative Investments Director, Financial Planning Specialist
Phone:
(410) 736-5412(410) 736-5412
Industry Award WinnerOur Mission Statement
We rely on our deep experience to provide comprehensive advice, that can help secure your family’s life goals.
Our Story and Services
The Iron Harbor Group at Morgan Stanley is a team of dedicated professionals who advise affluent families, business owners and non-profit organizations on retirement planning, asset preservation. With a special focus on those in healthcare, cybersecurity, and the military, the Iron Harbor Group works with families and their other professional advisors in forming, executing and monitoring a comprehensive wealth management plan. Once developed, we use our vast experience to implement an investment program that strives to help meet our clients’ needs without exposure to undue risk. We monitor each client’s wealth management plan over time to help ensure clients remain on track to achieve their stated financial goals. This attention to detail allows the Iron Harbor Group to very effectively identify and address potential obstacles to a client’s long term planning success. Morgan Stanley’s vast resources help us adjust to changing market conditions and attend to new objectives as they arise.
Services Include
- Wealth ManagementFootnote1
- Financial PlanningFootnote2
- Retirement PlanningFootnote3
- Professional Portfolio ManagementFootnote4
- Alternative InvestmentsFootnote5
- Cash Management and Lending ProductsFootnote6
- Long Term Care InsuranceFootnote7
- Life InsuranceFootnote8
- AnnuitiesFootnote9
- Trust ServicesFootnote10
- Sustainable InvestingFootnote11
- Corporate Retirement PlansFootnote12
- Divorce Financial AnalysisFootnote13
- 401(k) Rollovers
- 529 PlansFootnote14
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Join Us for our Educational Series
Stay tuned for our upcoming events!
**Link to join the next event is at the bottom of the tab
Our Upcoming Education Series Events:
-American Beacon GLG Natural Resources - Date: May 6th, 2026
Speaker: Albert Chu, Portfolio Manager at Man GLG
-Your Prosperity Picture — A Workshop for Women : Date June 3rd, 2026
Speaker: Amanda Lamber, Practice Engagement Specialist at Invesco Global Consulting
Our Previous Education Series Events
- Morgan Stanley Government Relations – Election Update - Date: September 11th, 2024
- Vanguard Medicare - Date: October 2nd. 2024
- Market & Economic Discussion - Date: November 6th, 2024
- Estate Planning - Date: February 5th, 2025
- Bonds - Fixed Income Update - Date: March 12th, 2025
- Suddenly In Command- Date: May 7th, 2025
- Understanding Social Security - Date: June 4th, 2025
- Understanding Medicare- Date: October 1st, 2025
- Planning for Health Care Costs in Retirement - Date: November 5th, 2025
- How to Shield Assets for Medical Eligibility -Date: December 3rd, 2025
- Market & Economic Outlook- Date: January 7, 2026
- Trust 101- Date: February 4th, 2026
- Tax Efficient Strategies in Light of One Big Beautiful Act- Date: March 4th, 2026
- Investing in an AI transformation- Date: April 1st, 2026
American Beacon GLG Natural Resources
Albert Chu is a Portfolio Manager at Man GLG, focusing on natural resource strategies.
He joined Man Group in 2023 from BNY Mellon, where he was the lead portfolio manager covering natural resources.
Prior to this, he held investment and portfolio management roles focused on natural resources equities and futures at various investment firms, including Citadel LLC and SAC Capital.
Albert holds a BA from the University of Michigan and an MBA from Cornell University.
Investing in an AI transformation
Stephanie Aliaga is a Global Market Strategist on the J.P. Morgan Asset Management Market Insights Team based out of New York.
In this role, Stephanie provides valuable insight and perspective on the global economy and markets to institutional and retail clients across the U.S. Stephanie's research has focused on the U.S. economy and structural investment themes, such as artificial intelligence. She is a key contributor to the Guide to the Markets, On the Minds of Investors blog, and serves on the committee that produces the Long- Term Capital Market Assumptions underpinning J.P. Morgan's strategic asset allocation process.
Stephanie is also a frequent guest on Bloomberg, Yahoo! Finance, and other financial news outlets and is often quoted in the financial press.
Prior to this role, Stephanie worked on the Global Investment. Opportunities Group in J.P. Morgan's Private Bank, where she provided ultra-high net worth clients with opportunistic investment ideas and cross-asset trading execution.
She graduated from the Wharton School of Business at the University of Pennsylvania with a Bachelor of Science degree in Economics.
Jack Manley- Market & Economic Outlook: Recap
Jack Manley, Executive Director, is a Global Market Strategist at J.P Morgan Asset Management. Jack is responsible for delivering timely market and economic commentary to institutional and retail clients across the United States and Canada. In addition, he is a contributor to the J.P Morgan Long-Term Capital Market Assumptions and has authored numerous papers on global economics and capital markets.
Jack is also a frequent guest on BNN, Bloomberg, CNBC and Fox Business, and is often quoted in the financial press. He graduated from the University of Chicago with a Bachelor's degree in History.
Mara Kossoff : Tax Efficient Strategies in Light of One Big Beautiful Act
Be sure to join The Iron Harbor Group on Wednesday, March 4th, 2026,12:00 PM ET, for a presentation by guest speaker Mara Kossoff, CFP®, CDFA®, a financial planning and coaching specialist in Vanguard Financial Advisor Services™. The speaker will share professional insights on tax efficient strategies in light of One Big Beautiful Act.
Trust 101: Elizabeth Doory, Estate Planning Attorney at HWK Law Group, LLC
Beth Doory is a partner at HWK Law Group, LLC. She practices primarily in the areas of Estate Planning and Special Needs Planning but also works with the clients on estate and trust administration, real estate, and business matters. She represents individuals and families in all phases of life, from young professionals and young families to those preparing for retirement and seniors to address their estate planning, tax, medical assistance, and special needs planning goals.
Prior to joining HWK Law Group in 2017, Beth worked in various capacities serving the public interest; in law school she served as a domestic violence victim advocate, then later as an Assistant Public Defender, arguing in court on a daily basis, before moving into government relations and nonprofit policy and advocacy representing the needs of children and families. These experiences have shown her the diverse issues that individuals and families face and the importance of thorough and client-centered planning for the short and long term.
Working With You
Here with The Iron Harbor Group at Morgan Stanley, we are your dedicated wealth management team. Our role is to tailor a holistic financial strategy that can fit your needs. Through our vast experience of working with clients, we have developed a step-by-step approach to provide a personalized service. We strive to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future. We are firm believers of providing our clients with resources so they can stay informed about the latest market trends, outlooks, and breakdowns.
Actionable Insights
A knowledgeable team of advisors, with the longevity needed to provide insights through the many stages of clients and their children’s lives. Aids in decision making by seeking to simplify complex topics and providing sound advice on dynamic situations when there isn’t a clear right or wrong strategy. Global technical resources from one of the world’s largest wealth management companies, offering the broadest platform of solutions and technology to meet clients’ needs.
The IRON Process
I – Investments - Review Markets & Economy and impacts on your Investments and possible changes
R – Retirement planning & Risk evaluation/ Reduction
0 – Onboarding / Administrative updates – Insurance/ Estate planning reviews
N – New Ideas - Alts / Cash Management
R – Retirement planning & Risk evaluation/ Reduction
0 – Onboarding / Administrative updates – Insurance/ Estate planning reviews
N – New Ideas - Alts / Cash Management
CFP® - CERTIFIED FINANCIAL PLANNER® (Joseph Fink & Paul Fallace)
CERTIFIED FINANCIAL PLANNER® certification is the standard of excellence in financial planning. The CERTIFIED FINANCIAL PLANNER® designation is awarded to candidates who have demonstrated expertise in the areas of Education, Investment, Tax, Retirement, Estate and Insurance planning. 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.
Certified Exit Planning Advisor (Richard Armiger)
The CEPA credential, offered by the Exit Planning Institute (EPI), provides advisors with the specialized knowledge needed to serve as a strategic guide for business owners considering selling, passing on, or transitioning their company.
Certified Divorce Financial Analyst®- CDFA® (Joseph Fink)
Founded in 1993, the Institute for Divorce Financial Analysts™ has certified more than 5,000 professionals across the United States and Canada. Candidates learn how to help their clients determine short-term and long-term financial impact of any proposed divorce settlement.
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 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.
Certified in Long-Term Care - CLTC (Joseph Fink)
The Certified in Long-Term Care (CLTC) designation is the long-term care insurance industry's only independent professional designation. It is designed to provide financial advisors with specialized knowledge in long-term care insurance, helping them to better assist clients in planning for long-term care needs. The program does not require any specific industry experience as a prerequisite.
Qualified Plan Financial Consultant - QPFC (Joseph Fink & Paul Fallace)
Attaining the Qualified Plan Financial Consultant (QPFC) credential demonstrates knowledge and commitment to working with qualified retirement plans, and showcases proficiency of plan administration, compliance, investment, fiduciary, and ethic issues.
Five Star Wealth Advisors 2026
Five Star Wealth Advisor Award (2026)
This award was issued in 2026. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from the time period 04/10/2025 through 10/01/2025.
Paul Fallace & Richard Armiger received this award in 2026.
View the E-PrintThis award was issued in 2026. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from the time period 04/10/2025 through 10/01/2025.
Paul Fallace & Richard Armiger received this award in 2026.
Alternative Investments Director (Richard Armiger)
Alternative Investments Director and can provide clients with guidance, insights, and thought leadership on the alternative investments asset class and the alternative investment strategies available through Morgan Stanley Wealth Management.
Alternative Investments Specialist (Lori Ostendarp)
An Alternative Investments Specialist supports Financial Advisors with the operational and administrative aspects of alternative investment transactions and helps facilitate access to firm resources related to alternative investments
The Wall Street Journal: Five Star Award Winners You Need to Know
Five Star Wealth Advisor Award (2026)
This award was issued in 2026. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from the time period 04/10/2025 through 10/01/2025.
Paul Fallace & Richard Armiger received this award in 2026.
View the E-PrintThis award was issued in 2026. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from the time period 04/10/2025 through 10/01/2025.
Paul Fallace & Richard Armiger received this award in 2026.
Morgan Stanley Online
Morgan Stanley Online digital capabilities and the Morgan Stanley Mobile App provide clients with access to their account information, enriched reporting tools, several cash management solutions and robust market research. The Morgan Stanley Mobile App provides clients with access to their accounts in just a few taps.
Learn More About Morgan Stanley Online
Goals Planning System
We take care of your retirement accounts and other investments based on your comfort level with risk and your current tax circumstances, tailoring your financial strategy to your unique situation, needs, and goals.
Start Planning Now
Service Excellence
A select number of clients matched with a structured model allows for proactive communication, responsiveness, and the ability to adapt your plan to changing life demands. Regularly scheduled communications help clients better understand their wealth, adapt to life’s changes, and stay on track with their goals. An active interest in clients’ lives, seeks to create trust, keeps clients informed, and builds a strong working relationship across generations and geographies.
What Are Alternative Investments?
Alternative Investments are financial assets that fall outside the traditional categories of stocks, bonds, and cash. They are considered alternative because they do not fit the conventional investment types and often have a low correlation with traditional markets. Alternative investments can provide diversification and potentially higher returns, but they also typically come with high risks and less liquidity.
Use the following resources to learn more about Alternative Investments and how it can be a fit for you:
Use the following resources to learn more about Alternative Investments and how it can be a fit for you:
Alternative Investment
At Morgan Stanley, we provide individuals and institutions access to world-class alternative investment strategies spanning private equity, real assets, private credit, hedge funds and digital assets. These strategies may deliver differentiated sources of return relative to traditional equity and fixed income investments, as well as offer potential for tax efficiency.
Learn More
Why Alternative Investments?
Explore investments beyond traditional portfolios. With unmatched experience, scale and reach across our vast global network, Morgan Stanley is an industry leader in alternative investments - providing access to exclusive offerings, preeminent fund managers and innovative investment opportunities.
Learn More
6 Opportunities in Alternatives
In the current environment, strategies that worked before may not be effective. Alternative investments could play a valuable role in your portfolio.
Learn More
Alternatives 2.0: Innovative Ways to Diversify Your Portfolio
Learn how a host of innovative alternative strategies could bolster investors’ portfolios as traditional assets face headwinds.
Learn More
Alternative Investments Director
Richard Armiger is an Alternative Investments Director and can provide clients with guidance, insights, and thought leadership on the alternative investments asset class and the alternative investment strategies available through Morgan Stanley Wealth Management.
Personal Finance
Explore our ongoing video series offering personal finance strategies, designed to help empower individuals with approaches for effective financial planning, risk management, and investment growth. Stay tuned as we continually expand our library with new insights and guidance tailored to help navigate your financial journey.
Diversification Explained In Two Minutes
In today’s market environment, diversification remains a tool for managing concentration risk and supporting long-term goals. Our educational video series highlights how different assets can play many roles—helping balance growth, income and stability through changing conditions.
Watch this video by our own Financial Advisor, Richard Armiger, to learn more about the role diversification plays in portfolios.
Watch the videoWatch this video by our own Financial Advisor, Richard Armiger, to learn more about the role diversification plays in portfolios.
How Risk Affects Your Investment Portfolio
In today's financial environment, understanding the impact of risk on an investment portfolio is important. Risk and return are interconnected, meaning that taking on more risk can drive potential growth but also involves a degree of uncertainty. Risk influences portfolio fluctuations, with riskier portfolios potentially experiencing sharper declines but also offering the possibility of higher returns. Effective risk management usually involves aligning risk with financial goals to balance potential losses and growth.
Watch this video by our own Financial Advisor, Richard Armiger, to learn more about the role risk plays in portfolios.
Watch the videoWatch this video by our own Financial Advisor, Richard Armiger, to learn more about the role risk plays in portfolios.
Investments For Minors
In today's fast-paced financial world, setting up minors for success requires strategic planning. Today's video series covers key strategies like choosing the right account, building financial literacy, and encouraging early investment. From Custodian Accounts to Roth IRAs, we guide you in creating a personalized plan for a resilient financial future.
Watch our financial advisor, Richard Armiger, share insights on preparing for your child's financial future.
Watch the videoWatch our financial advisor, Richard Armiger, share insights on preparing for your child's financial future.
Preparing for Retirement: Key Questions to Consider
Our team focuses in helping guide clients through the complexities of retirement planning and seeking to ensure a smooth transition. Our experience lies in helping you navigate the financial and emotional aspects of retirement, making sure you can be fully prepared for what lies ahead.
It starts with 3 main questions:
Financial Readiness: Are you financially prepared to retire?
Emotional Readiness: Are you emotionally ready to step away from your career?
Post-Retirement Plans: What will you do after retirement?
Watch the videoIt starts with 3 main questions:
Financial Readiness: Are you financially prepared to retire?
Emotional Readiness: Are you emotionally ready to step away from your career?
Post-Retirement Plans: What will you do after retirement?
How To Protect Today Against The Risks Of Tomorrow
In today's financial landscape, securing your future requires a proactive approach. The Iron Harbor Group helps you navigate uncertainties by:
1. Crafting a Comprehensive Plan: Includes retirement, tax, and estate planning strategies tailored to help meet your needs.
2. Diversifying Investments: Beyond stocks and bonds, if appropriate with alternatives and real estate to potentially enhance returns and manage risks.
3. Guarding Against Non-Market Risks: Seek to ensure financial security with comprehensive insurance and updated estate plans.
Our team is committed to developing a personalized financial plan to help meet your goals and build a resilient future.
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.
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. 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.
Diversification does not guarantee a profit or protect against loss in a declining financial market.
Watch the video1. Crafting a Comprehensive Plan: Includes retirement, tax, and estate planning strategies tailored to help meet your needs.
2. Diversifying Investments: Beyond stocks and bonds, if appropriate with alternatives and real estate to potentially enhance returns and manage risks.
3. Guarding Against Non-Market Risks: Seek to ensure financial security with comprehensive insurance and updated estate plans.
Our team is committed to developing a personalized financial plan to help meet your goals and build a resilient future.
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.
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. 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.
Diversification does not guarantee a profit or protect against loss in a declining financial market.
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
1201 Wills Street
Ste 700
Baltimore, MD 21231
US
Direct:
(410) 736-5305(410) 736-5305
Fax:
(443) 992-7823(443) 992-7823
Meet The Iron Harbor Group
First Vice President, Wealth Management, Financial Advisor, Senior Portfolio Manager, Alternative Investments Director
Phone:
(410) 736-5407(410) 736-5407
Joseph Fink, CFP®, CLTC®, QPFC, CDFA®
Financial Advisor, Alternative Investments Director
Phone:
(410) 559-7260(410) 559-7260
Lori Ostendarp, Financial Planning Specialist, Alternative Investment Specialist
Portfolio Associate
Phone:
(410) 736-5305(410) 736-5305
About Richard Armiger
While I advise successful clients from all walks of their financial life, my focus is advising physicians and non-profit organizations in the health care field. My clients are extremely busy professionals who need more time in the day to achieve balance between family, maintaining or building wealth, and personal interests. While today’s economy is challenging and at times overwhelming, managing an investment portfolio does not have to be. I believe success does not come by accident and a balanced life is the basis of a happy life. Financial success is best enjoyed while we are healthy and helping others. As a wealth advisor with over 25 years of experience, as well as being the co-founder of the Ironheart Foundation and a top 1% world ranked Ironman triathlete, I understand the importance of having goals, creating a plan to achieve them and monitoring results to ensure success. There are too many variables to leave long term goals to chance. Therefore, I work diligently with each of my clients to create a customized plan and portfolio to achieve each client’s unique goals. As your advisor, my role is to help make your financial life more manageable so you have more time to pursue and enjoy your success.
Securities Agent: UT, SC, NV, MD, LA, TX, RI, NY, ID, AZ, WV, SD, OR, DE, WI, MA, HI, AR, FL, VA, OH, NH, MI, OK, NC, MO, TN, CA, AL, WA, NJ, PA, NM, ME, KY, IL, IA, GA, WY, DC, CO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1951659
CA Insurance License #: 4386908
NMLS#: 1951659
CA Insurance License #: 4386908
About Paul Fallace
Paul J. Fallace, is a Baltimore based wealth advisor helping to coordinate the financial affairs of a select group of families, individuals, and business owners. Coming from a military background, he is able to apply his discipline, analytical skills and attention to detail to help clients plan for their financial futures. He graduated from the U.S. Naval Academy in 1991 with a B.S. in Political Science and also played Varsity lacrosse. In 2000, he received his Master of Business Administration from the University of Southern Indiana.
Prior to joining Morgan Stanley in 2005, Mr. Fallace worked in the plastics and steel industries as an engineer and Plant Manager for General Electric and International Steel Group. He also served as a Surface Warfare Officer on a destroyer and at a Special Boat Unit in the United States Navy.
Mr. Fallace's strategic focus on clients is demonstrated through three core principles: Actionable Insights, Disciplined Process and Service Excellence.
Prior to joining Morgan Stanley in 2005, Mr. Fallace worked in the plastics and steel industries as an engineer and Plant Manager for General Electric and International Steel Group. He also served as a Surface Warfare Officer on a destroyer and at a Special Boat Unit in the United States Navy.
Mr. Fallace's strategic focus on clients is demonstrated through three core principles: Actionable Insights, Disciplined Process and Service Excellence.
Securities Agent: FL, PA, OH, LA, CA, WV, OK, GA, DE, AL, VA, MI, ME, MA, CO, MD, IL, SC, NM, KY, NY, NC, HI, DC, AR, WA, TX, NJ, AZ, WY, TN, NH, IA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1253009
CA Insurance License #: 4386446
NMLS#: 1253009
CA Insurance License #: 4386446
About Joseph Fink
Joseph Fink strives to bring his most authentic self to every interaction so that his clients can be equally genuine as they share some of the most personal aspects of their lives, including the purpose of their money.
As a CERTIFIED FINANCIAL PLANNER® professional, every one of his clients has a financial plan that helps guide them toward their financial goals. Motivated by a deep sense of responsibility to others, Fink completed the long-term care certification (CLTC®) to further help families establish a financial roadmap, from home health care to hospice care, if necessary. Additionally, he holds the Certified Divorce Financial Analyst® designation.
Fink knows that successful relationships are built on establishing confidence, regular communication, and a deep understanding between individuals. He is a firm believer that the financial advisor-client relationship must be one of strong, continual communication, and connectivity. As life changes, both expectedly and unexpectedly for his clients, it’s important for him to be aware of how these changes can impact their financial plan and goals.
Fink is a proud alumnus of both The Park School of Baltimore and Goucher College, where he graduated Phi Beta Kappa and Magna Cum Laude with a Bachelor of Arts in Economics. As a two-time collegiate equestrian National Champion, Fink was inducted into Goucher College’s Athletic Hall of Fame in 2021.
Among various volunteer and leadership roles, Fink is dedicated to Jewish philanthropic organizations, including the Elijah Cummings Youth Program, the Associated: The Jewish Federation of Baltimore, and the Jewish Federation of Greater Washington.
With his partner, Craig, together they love attending theater, especially musical theater, and enjoying the cultural richness of the Baltimore and Washington DC Metropolitan areas.
Lastly, his commitment to serving clients is deeply rooted in his family's legacy. His grandfather, after retiring as a colonel from the U.S. Army, devoted his second career to being a dedicated stockbroker for his fellow servicemen and their families. Advancing those principles, Fink’s mother continues to serve as an integral and valued financial advisor to countless multi-generational families. In addition, she has instilled in Fink a strong sense of fiduciary responsibility. This legacy drives his dedication to each client’s financial wellbeing.
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.
As a CERTIFIED FINANCIAL PLANNER® professional, every one of his clients has a financial plan that helps guide them toward their financial goals. Motivated by a deep sense of responsibility to others, Fink completed the long-term care certification (CLTC®) to further help families establish a financial roadmap, from home health care to hospice care, if necessary. Additionally, he holds the Certified Divorce Financial Analyst® designation.
Fink knows that successful relationships are built on establishing confidence, regular communication, and a deep understanding between individuals. He is a firm believer that the financial advisor-client relationship must be one of strong, continual communication, and connectivity. As life changes, both expectedly and unexpectedly for his clients, it’s important for him to be aware of how these changes can impact their financial plan and goals.
Fink is a proud alumnus of both The Park School of Baltimore and Goucher College, where he graduated Phi Beta Kappa and Magna Cum Laude with a Bachelor of Arts in Economics. As a two-time collegiate equestrian National Champion, Fink was inducted into Goucher College’s Athletic Hall of Fame in 2021.
Among various volunteer and leadership roles, Fink is dedicated to Jewish philanthropic organizations, including the Elijah Cummings Youth Program, the Associated: The Jewish Federation of Baltimore, and the Jewish Federation of Greater Washington.
With his partner, Craig, together they love attending theater, especially musical theater, and enjoying the cultural richness of the Baltimore and Washington DC Metropolitan areas.
Lastly, his commitment to serving clients is deeply rooted in his family's legacy. His grandfather, after retiring as a colonel from the U.S. Army, devoted his second career to being a dedicated stockbroker for his fellow servicemen and their families. Advancing those principles, Fink’s mother continues to serve as an integral and valued financial advisor to countless multi-generational families. In addition, she has instilled in Fink a strong sense of fiduciary responsibility. This legacy drives his dedication to each client’s financial wellbeing.
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.
Securities Agent: VA, SC, NJ, MA, WY, NC, NY, LA, TN, AZ, OH, FL, DC, WA, NM, CA, ME, MD, KY, IL, GA, TX, PA, DE, CO; General Securities Representative; Investment Advisor Representative
NMLS#: 2424195
NMLS#: 2424195
About Lori Ostendarp
With over 31 years of industry experience, Lori is responsible for every aspect of the Iron Harbor Group’s client administration. Among her responsibilities are maintaining quality control of the Team, being a reliable and efficient point of contact between the client and the advisors and keeping the business of the Iron Harbor Group running smoothly by efficiently addressing and executing client administrative tasks.
Lori joined Morgan Stanley in May 1995 as a Client Service Associate and assumed roles in Operations, as a CSA Complex Coach, a Complex Service Manager and is currently a Portfolio Associate, with designations as an Alternative Investment Specialist and Financial Planning Specialist. She is married with three adult children and two grandsons. Lori enjoys working out, boating and time with her family.
This role cannot solicit or provide investment advice
Lori joined Morgan Stanley in May 1995 as a Client Service Associate and assumed roles in Operations, as a CSA Complex Coach, a Complex Service Manager and is currently a Portfolio Associate, with designations as an Alternative Investment Specialist and Financial Planning Specialist. She is married with three adult children and two grandsons. Lori enjoys working out, boating and time with her family.
This role cannot solicit or provide investment advice
Contact Richard Armiger
Contact Paul Fallace
Contact Joseph Fink
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2025-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2025-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Five Star Wealth Advisor
Five Star Wealth Advisor Award (2026)
This award was issued in 2026. The award was determined based on an evaluation process conducted by Five Star Professional based on objective criteria from the time period 04/10/2025 through 10/01/2025.
2
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
Sean W. Ruediger
Private Banker
Thomas Manty
Planning Associate
About Sean W. Ruediger
Sean Ruediger is a Private Banker serving Morgan Stanley Wealth Management offices in Maryland and Delaware.
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.
Sean began his career in financial services in 2012, and joined Morgan Stanley in 2016. Prior to joining the firm, Sean was a Senior Loan Processor at PHH Mortgage. He also served as PHH’s lead trainer on Morgan Stanley’s mortgage procedures and processes.
Sean lives in Maryland with his family. Outside of the office, Sean is a Lean Six Sigma certified yellow belt. He also enjoys writing music, graphic designing, and spending time with his family and friends.
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.
Sean began his career in financial services in 2012, and joined Morgan Stanley in 2016. Prior to joining the firm, Sean was a Senior Loan Processor at PHH Mortgage. He also served as PHH’s lead trainer on Morgan Stanley’s mortgage procedures and processes.
Sean lives in Maryland with his family. Outside of the office, Sean is a Lean Six Sigma certified yellow belt. He also enjoys writing music, graphic designing, and spending time with his family and friends.
NMLS#: 1192383
About Thomas Manty
Thomas Manty is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define the goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. Thomas provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from Brown University and received the Financial Planning Specialist® designation from the College for Financial Planning. Thomas is originally from Boston, MA and currently resides in New York City.
He earned his undergraduate degree from Brown University and received the Financial Planning Specialist® designation from the College for Financial Planning. Thomas is originally from Boston, MA and currently resides in New York City.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Ready to start a conversation? Contact The Iron Harbor 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.
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 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
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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.
11Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
12When 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.
13Morgan 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.
14Investors 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.
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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.
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 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
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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.
11Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
12When 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.
13Morgan 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.
14Investors 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.
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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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