Senior Vice President, Financial Advisor, Alternative Investments Director, Financial Planning Specialist
Phone:
(410) 736-5412(410) 736-5412
The Iron Harbor Group at Morgan Stanley
Direct:
(410) 736-5305(410) 736-5305
Our Mission Statement
We rely on our deep experience to give you the best advice to 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 seeks to 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
-
Suddenly In CommandDate: May 7th, 2025
Speaker: Emma R Smith
John Hancock Investment ManagementEmma is an Internal Business Consultant Partner with John Hancock Investment Management. Prior to joining the company in 2021, she was a Financial Advisor in Dallas, TX for four years. Emma has earned her B.S. in Agricultural Economics from Purdue University.
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 PlanningDate: February 5th, 2025
- Bonds - Fixed Income UpdatesDate: March 12th, 2025
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
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.
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 OnlineTotal Wealth View
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind. This new tool allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile
Learn More About Total Wealth View
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 NowWhat 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 MoreTHE EXPANDING ROLE OF THE FAMILY WEALTH ADVISOR
Family Office Resources (FOR) provides focused technical insight to ultra-high net worth Financial Advisors and clients across a broad range of family wealth management issues. Our suite of resources are meticulously crafted to help address the unique wealth management needs of clients in order to help curate financial objectives and resources for short term and long term legacy goals.
The term “Family Office Resources” is being used as a term of art and not to imply that Morgan Stanley and/or its employees are acting as a family office pursuant to Investment Advisers Act of 1940.
The term “Family Office Resources” is being used as a term of art and not to imply that Morgan Stanley and/or its employees are acting as a family office pursuant to Investment Advisers Act of 1940.
Family Resources Office
We provide comprehensive guidance that is curated to assist ultra-high net worth clients regarding subjects related to financial education, bridging the gap for future legacy, philanthropic efforts, portfolio construction, tax management, etc.
Learn More About the Family Resources Office
Family Governance and Education
Too often, members of rising generations spend decades in silence. Having a mechanism in place such as a family mission statement, a family constitution or an investment policy statement can offer critical parameters and guidelines to make decisions as a collective. We work with you to find your way to becoming your own generation, with your own voice.
Investment Policy
Philanthropic Advisory
Believing that philanthropy must be more than checkbook writing, involved and engaged donors want to feel a connection and offer advice and input above and beyond money. Perhaps you want to use philanthropy to instill values in your children, or you want to apply your business acumen to philanthropy. Maybe it is the grassroots-type of organizations that inspire you. Holding philanthropic conversations with our team and your family to discuss values, motivations, visions and to develop a mission statement is an effective step to achieving long term philanthropic engagement. Deciding on what level of visibility you want, what type of program to support and how long you envision your involvement to last, are your matters that matter to us.
Charitable Giving At A Glance
Trust and Estate Planning Strategies and Business Succession
The key to determining which trust, tax and estate strategies to execute is to understand the interplay of personal and exogenous factors. Liquidity events such as an initial public offering or a merger or acquisition may provide income and estate planning opportunities. Liquidity events also magnify the need to put in place or update certain essential estate planning documents.
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.
EPI Know Your GapsMorgan 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.
Art Advisory
Whether you have inherited a valuable collection or built one of your own, the stewardship of fine art and collectibles presents an extensive range of formidable challenges. These unregulated markets can be confusing, fragmented and inefficient. With experienced art advisors at your side, you have the guidance you need to avoid pitfalls and the experience to help manage your collection as the significant asset it is.
Morgan Stanley does not assist with buying or selling art in any way and merely provides information to clients interested in learning more about the different types of art markets at a high level. Any client interested in buying or selling art should consult with their own independent art advisor.
This material has been prepared for informational purposes only. It does not provide investment advice or any advice regarding the purchase and/or sale of any artwork. The information contained herein is from multiple sources deemed to be reliable but is not guaranteed and do not necessarily reflect the views, opinions or advice of Morgan Stanley Smith Barney LLC (“Morgan Stanley”) or its affiliates. Morgan Stanley is not responsible for the information or data contained in this material. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. It is not a recommendation to purchase or sell artwork nor is it to be used to value any artwork. Investors must independently evaluate particular artwork, artwork investments and strategies, and should seek the advice of an appropriate third-party advisor for assistance in that regard, as Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide advice on artwork.
Learn More About MSWM Art AdvisoryMorgan Stanley does not assist with buying or selling art in any way and merely provides information to clients interested in learning more about the different types of art markets at a high level. Any client interested in buying or selling art should consult with their own independent art advisor.
This material has been prepared for informational purposes only. It does not provide investment advice or any advice regarding the purchase and/or sale of any artwork. The information contained herein is from multiple sources deemed to be reliable but is not guaranteed and do not necessarily reflect the views, opinions or advice of Morgan Stanley Smith Barney LLC (“Morgan Stanley”) or its affiliates. Morgan Stanley is not responsible for the information or data contained in this material. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. It is not a recommendation to purchase or sell artwork nor is it to be used to value any artwork. Investors must independently evaluate particular artwork, artwork investments and strategies, and should seek the advice of an appropriate third-party advisor for assistance in that regard, as Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide advice on artwork.
Lifestyle Services
The enjoyment of wealth means the most powerful benefits of a family office is the potential to help family members simplify their personal lives. We provide bespoke solutions and access to knowledgeable, highly personal specialists to help meet
your exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
Signature Access Elevate and Enrichyour exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
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
Phone:
(410) 736-5407(410) 736-5407
Phone:
(410) 736-5353(410) 736-5353
Lori Ostendarp
Senior Registered Client Services Associate
Phone:
(410) 736-5305(410) 736-5305
About Richard E 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: CO, DE, TN, OK, MI, FL, VA, UT, OH, NH, NC, MO, CA, AL, WA, NJ, PA, ME, KY, IL, IA, GA, TX, RI, NY, ID, AZ, WI, MA, HI, DC, SC, MD, AR, WV, SD, OR, NV; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1951659
CA Insurance License #: 4386908
NMLS#: 1951659
CA Insurance License #: 4386908
About Paul J 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: CO, NY, NC, HI, DC, AR, OH, CA, WV, OR, OK, GA, DE, AL, PA, MD, IL, FL, SC, KY, WA, TX, NJ, AZ, TN, NH, ID, IA, VA, MI, ME, MA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1253009
CA Insurance License #: 4386446
NMLS#: 1253009
CA Insurance License #: 4386446
About Luis Velez
Luis helps individuals, families and businesses prepare for an uncertain future. With extensive and intensive training in portfolio analytics, as well as the myriad planning tools at Morgan Stanley, Luis applies that knowledge for the benefit of Iron Harbor Group clients. His disciplined work emphasizes transparency, risk management, tax effective investing, continuous portfolio monitoring and cybersecurity. Luis earned his degrees in Finance and Spanish, while playing collegiate Volleyball at Towson University, He lives in Towson, Maryland with his wife Erin, their son Jack, and their two dogs, Cato and Welly. He enjoys traveling, golfing, fishing, tennis and spending time with his family.
Securities Agent: CO, VA, OK, NY, IL, PA, ID, TX, OR, GA, FL, CA, DE, NC, MD, MA, ME, HI, DC, TN, SC, OH, KY, AZ, NJ, NH, AR, WA; General Securities Representative; Investment Advisor Representative
NMLS#: 1710491
CA Insurance License #: 4386909
NMLS#: 1710491
CA Insurance License #: 4386909
About Lori Ostendarp
With over 28 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 Senior Registered Client Service Associate. She is married with three adult children and two grandsons. Lori is a Wellness Coach for Weight Watchers as a lifetime member and enjoys cycling, boating and time with her family.
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 Senior Registered Client Service Associate. She is married with three adult children and two grandsons. Lori is a Wellness Coach for Weight Watchers as a lifetime member and enjoys cycling, boating and time with her family.
Contact Richard E Armiger
Contact Paul J Fallace
Contact Luis Velez
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
Article Image
Ready to start a conversation? Contact The Iron Harbor Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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.
11The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
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 Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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.
11The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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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Awards Disclosures
CRC 6491812 (04/2024)
