Barbara G Jaffe
Executive Director, Financial Advisor, Portfolio Management Director
Phone:
(904) 632-0284(904) 632-0284
The Jaffe Group at Morgan Stanley
Direct:
(904) 632-0290(904) 632-0290
Toll-Free:
(866) 673-9600(866) 673-9600
Our Mission Statement
We are a family-centered partnership whose mission is to help your family build and preserve wealth. - Barbara Jaffe
Our Story
Executive Director of the Jaffe Group, Barbara Jaffe, became a Financial Advisor in 1978. The Jaffe Group was formed several years later in the mid-1980s and has been operating in Jacksonville since its inception. The Group's members include Diane Pauly, who joined the Group in 1992, Bradley and Sanford Zimmerman, who both joined the Group in 1996, and Joshua Zimmerman, who joined us in 2024. In addition, Raquel Zisman, who has been a part of the group since 1999, is the Certified Portfolio Manager of the Group. The Group's experienced administrative staff includes Sabrina Carter (Portfolio Associate), Julie Leedom (Senior Client Service Associate), and Ericka King (Client Service Associate).
The Group services clients in 31 states. Each Group member serves on many community boards and is recognized as a leader in the community. A few of those boards are: River Garden, Baptist Hospital, United Way, Jacksonville Jewish Center, the Jewish Community Foundation of Northeast Florida, and the Portfolio Management Institute. The Group takes pride in its focus on client service and its strong commitment to excellence in portfolio management.
The Group services clients in 31 states. Each Group member serves on many community boards and is recognized as a leader in the community. A few of those boards are: River Garden, Baptist Hospital, United Way, Jacksonville Jewish Center, the Jewish Community Foundation of Northeast Florida, and the Portfolio Management Institute. The Group takes pride in its focus on client service and its strong commitment to excellence in portfolio management.
Services Include
- Professional Portfolio ManagementFootnote1
- Asset Management
- Estate Planning StrategiesFootnote2
- Municipal BondsFootnote3
- Qualified Retirement PlansFootnote4
- Endowments and FoundationsFootnote5
- Exchange Traded FundsFootnote6
- Financial PlanningFootnote7
- Fixed IncomeFootnote8
- AnnuitiesFootnote9
- Cash Management and Lending ProductsFootnote10
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Practice
Our Clients
The Jaffe Group views each client's needs as unique. Because of the Group's long ties to Jacksonville, they serve many multi-generational families which in many cases include great-grandparents, parents, grandchildren, and great-grandchildren. The Group takes pride in honoring the tradition of helping each family invest and pass their wealth from generation to generation. They work with not just the client but the client's team of professionals to help accomplish the best planning for the family.
Our Process
The Group feels that their process is also unique. With the Group's depth of experience, they have many years of history to build on. They meet individually on a regular basis with their clients. The process includes an initial meeting of fact-finding, followed by many planning sessions to establish and clarify the goals of the client. Once established, a plan is put in place. But that is not the end. There is an active process of review, checking for progress and adjustments of ongoing goals and change of circumstances. The Group also uses their team dynamics by reviewing clients' needs among colleagues and getting additional input from fellow Group members. The Jaffe Group itself meets regularly to review strategies and ideas.
Location
50 N. Laura St
Ste 2000
Jacksonville, FL 32202
US
Direct:
(904) 632-0290(904) 632-0290
Toll-Free:
(866) 673-9600(866) 673-9600
Meet The Jaffe Group
Sanford I Zimmerman, CFP®
Senior Vice President, Financial Advisor
Phone:
(904) 632-0292(904) 632-0292
Bradley D Zimmerman
Senior Vice President, Financial Advisor
Phone:
(904) 632-0286(904) 632-0286
Diane L Pauly
Senior Vice President, Financial Advisor, Portfolio Management Director
Phone:
(904) 632-0285(904) 632-0285
Sabrina J Carter
Portfolio Associate
Phone:
(904) 632-0290(904) 632-0290
Julie Leedom
Senior Client Service Associate
Phone:
(904) 632-0289(904) 632-0289
Raquel K. Zisman, CPM®, CFP®
First Vice President, Director of Business Strategy
About Barbara G Jaffe
Barbara Jaffe is the Executive Director and Portfolio Management Director for The Jaffe Group at Morgan Stanley in Jacksonville, Florida. With over 45 years of experience in the financial services industry, Barbara has built a distinguished career serving individuals, families, corporations, institutions, and non-profits. She is known for her long-standing client relationships and her commitment to helping clients pursue their unique financial goals.
Before entering the wealth management field, Barbara worked as a journalist for the Florida Times-Union and the Tampa Tribune. She then joined Prudential Bache as a Financial Advisor in 1978, becoming the first woman hired by the firm following the prolonged bear market of the 1970s. Barbara and the The Jaffe Group joined Morgan Stanley in 2008.
Throughout her career, Barbara has been recognized for her unwavering dedication to her clients. She was honored with the prestigious EVE Award by the Florida Times-Union in 2000.
Barbara is also deeply committed to philanthropy and community service. She currently serves on the Investment Committee for Baptist Hospital, as a board member of the Jacksonville Jewish Foundation, and as a member of the Advisory Board for the University of Florida’s Eric Friedheim Tourism Institute. She previously served as a trustee for the City of Jacksonville’s Police and Fire Pension Fund for over 22 years, as a trustee for United Way, and as a board member of Baptist Hospital for 20 years.
Barbara resides in Jacksonville and enjoys spending time with her children and grandchildren, supporting them in their various pursuits.
EVE award is not an investment advisory or brokerage award. As such, criteria associated with financial services including, but not limited to, industry experience, client retention, assets under management, investment performance, revenue, quality of advice or client experience are not factors for consideration.
Before entering the wealth management field, Barbara worked as a journalist for the Florida Times-Union and the Tampa Tribune. She then joined Prudential Bache as a Financial Advisor in 1978, becoming the first woman hired by the firm following the prolonged bear market of the 1970s. Barbara and the The Jaffe Group joined Morgan Stanley in 2008.
Throughout her career, Barbara has been recognized for her unwavering dedication to her clients. She was honored with the prestigious EVE Award by the Florida Times-Union in 2000.
Barbara is also deeply committed to philanthropy and community service. She currently serves on the Investment Committee for Baptist Hospital, as a board member of the Jacksonville Jewish Foundation, and as a member of the Advisory Board for the University of Florida’s Eric Friedheim Tourism Institute. She previously served as a trustee for the City of Jacksonville’s Police and Fire Pension Fund for over 22 years, as a trustee for United Way, and as a board member of Baptist Hospital for 20 years.
Barbara resides in Jacksonville and enjoys spending time with her children and grandchildren, supporting them in their various pursuits.
EVE award is not an investment advisory or brokerage award. As such, criteria associated with financial services including, but not limited to, industry experience, client retention, assets under management, investment performance, revenue, quality of advice or client experience are not factors for consideration.
Securities Agent: SC, VA, OR, NH, MO, MN, GA, CO, KY, MI, SD, TX, WI, PA, ID, DC, IN, UT, OK, NC, MA, FL, CA, AL, WA, OH, AZ, NJ, WY, DE, IL, MD, NM, TN, NV, CT, NY; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1274475
NMLS#: 1274475
About Sanford I Zimmerman
Sanford “Sandy” Zimmerman is a Senior Vice President for The Jaffe Group at Morgan Stanley in Jacksonville, FL. As a Certified Financial Planner® Professional, Sandy brings a wealth of expertise to the individual, corporate, and institutional clients that he serves. Sandy prides himself on working with clients to create customized solutions that help them achieve their objectives.
Sandy joined The Jaffe Group in 1996 after receiving a Bachelor of Science degree in Finance from the University of Florida. He has consistently been ranked by Forbes Magazine as a Best-In-State Wealth Advisor. A Jacksonville native, Sandy is active in philanthropy within his local community. He currently serves on the boards of Baptist Hospital Jacksonville, Dreams Come True, and River Garden Hebrew Home for the Aged. He is past president of the Jacksonville Jewish Center, River Garden Foundation, and the Jewish Federation and Foundation of Northeast Florida.
Sandy currently resides in Jacksonville, FL and is the proud father of his two adult daughters, Brooke and Leah.
Sandy joined The Jaffe Group in 1996 after receiving a Bachelor of Science degree in Finance from the University of Florida. He has consistently been ranked by Forbes Magazine as a Best-In-State Wealth Advisor. A Jacksonville native, Sandy is active in philanthropy within his local community. He currently serves on the boards of Baptist Hospital Jacksonville, Dreams Come True, and River Garden Hebrew Home for the Aged. He is past president of the Jacksonville Jewish Center, River Garden Foundation, and the Jewish Federation and Foundation of Northeast Florida.
Sandy currently resides in Jacksonville, FL and is the proud father of his two adult daughters, Brooke and Leah.
Securities Agent: SD, CO, DC, MA, MO, NJ, OK, PA, IL, MI, OH, TN, WI, AL, ID, KY, NC, VA, DE, CT, NH, NM, SC, CA, WY, AZ, FL, IN, MN, TX, UT, OR, NY, MD, GA, NV, WA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1278797
NMLS#: 1278797
About Bradley D Zimmerman
Brad is a Jacksonville native who graduated from The Bolles School. He earned a Bachelor of Science degree in Finance and a Master of Business Administration degree from the University of Florida. He began his career in New York City at Prudential Securities working in Risk Management. In 1996, he returned to Jacksonville to join The Jaffe Group.
Brad focuses in investment management and asset protection strategies. He is the father of two children, Joshua and Samantha. He enjoys attending their various sports and school activities.
Brad focuses in investment management and asset protection strategies. He is the father of two children, Joshua and Samantha. He enjoys attending their various sports and school activities.
Securities Agent: OK, PA, PR, MD, OH, NM, KY, ID, NJ, MN, MA, CA, CO, DE, IL, MO, NC, WY, SC, TX, VI, IN, VA, AL, NY, NH, DC, AZ, WI, UT, MI, CT, SD, OR, GA, WA, FL, NV, TN; General Securities Representative; Investment Advisor Representative
NMLS#: 1282359
NMLS#: 1282359
About Diane L Pauly
Diane Pauly is a Senior Vice President and Portfolio Management Director for The Jaffe Group at Morgan Stanley in Jacksonville, FL. An industry veteran, Diane brings over 35 years of financial expertise to her clients located across the United States and abroad. She focuses on assisting clients with customized portfolio construction, investment management, and a variety of personal, family, and corporate wealth strategies.
Diane was born in New York and graduated from the University of Florida, where she received a Bachelor of Science degree in Finance. Diane’s career started in New York City, where she worked in the municipal bond trading industry before joining The Jaffe Group as a financial advisor in 1994. She has been routinely listed among the Best In-State Women Wealth Advisors by Forbes. An active member in her local community, she was previously appointed to the South Jacksonville Rotary Board of Directors and served as a past member and committee chair.
Diane currently resides in Ponte Vedra Beach, Florida and is a proud parent of her two adult children, Austin and Abby.
Disclosure:
Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In-State
Source: Forbes.com Data compiled by SHOOK Research LLC
Diane was born in New York and graduated from the University of Florida, where she received a Bachelor of Science degree in Finance. Diane’s career started in New York City, where she worked in the municipal bond trading industry before joining The Jaffe Group as a financial advisor in 1994. She has been routinely listed among the Best In-State Women Wealth Advisors by Forbes. An active member in her local community, she was previously appointed to the South Jacksonville Rotary Board of Directors and served as a past member and committee chair.
Diane currently resides in Ponte Vedra Beach, Florida and is a proud parent of her two adult children, Austin and Abby.
Disclosure:
Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In-State
Source: Forbes.com Data compiled by SHOOK Research LLC
Securities Agent: DE, WY, WI, WA, UT, TX, TN, SC, PA, OK, OH, NY, NV, NM, NJ, NH, NC, MO, MN, MD, MA, KY, IN, IL, ID, GA, FL, DC, CT, CO, CA, AZ, VA, AL; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1279539
NMLS#: 1279539
About Sabrina J Carter
Sabrina has been in the securities industry since 1985. Her career started in Savannah, GA, in the Operations Department of Johnson, Lane, Space, Smith & Co., which later became Interstate/Johnson Lane. During her 34-year career in the securities industry, she has worked at both wire houses and independent broker dealers, holding both management and support staff positions. In 2000, Sabrina moved to Jacksonville, FL, where she began working for PaineWebber. Sabrina has been employed by Morgan Stanley since September 2008.
Sabrina received a Bachelor of Arts degree from Georgia State University where she majored in Finance. She has obtained her Series 3, 7 24, 63, and 65 licenses. Sabrina is married to Lloyd Carter III, and they have three children: Leontyne, Corbin, and Cameron.
Sabrina received a Bachelor of Arts degree from Georgia State University where she majored in Finance. She has obtained her Series 3, 7 24, 63, and 65 licenses. Sabrina is married to Lloyd Carter III, and they have three children: Leontyne, Corbin, and Cameron.
About Raquel K. Zisman
Raquel Zisman is a First Vice President and Director of Business Strategy for The Jaffe Group at Morgan Stanley. Raquel specializes in investment analysis and portfolio management, tailoring strategic solutions that align with clients’ wealth management goals. Raquel has over 30 years of experience in the finance and investment industry and is a Certified Portfolio Manager® and a CERTIFIED FINANCIAL PLANNER™ professional.
Raquel began her career as a financial analyst for Banque Paribas and Ford Motor Company's Treasurer's Office before joining the Jaffe Group in 1999. After graduating with a degree in Systems Engineering from Universidad Metropolitana in Caracas, Venezuela, she received an MBA with a major in Finance from Rice University. Raquel is active in her community and currently serves on the board of the Portfolio Management Institute.
Raquel resides in Fort Lauderdale, FL with her husband David, and is the proud mother of three adult daughters, Nicole, Iliana and Karen.
Raquel began her career as a financial analyst for Banque Paribas and Ford Motor Company's Treasurer's Office before joining the Jaffe Group in 1999. After graduating with a degree in Systems Engineering from Universidad Metropolitana in Caracas, Venezuela, she received an MBA with a major in Finance from Rice University. Raquel is active in her community and currently serves on the board of the Portfolio Management Institute.
Raquel resides in Fort Lauderdale, FL with her husband David, and is the proud mother of three adult daughters, Nicole, Iliana and Karen.
Contact Barbara G Jaffe
Contact Sanford I Zimmerman
Contact Bradley D Zimmerman
Contact Diane L Pauly
Wealth Management
From Our Team
Spring/Summer 2025 MarketWise Newsletter
Wealth Management
Global Investment Office
Portfolio Insights
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
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
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 Jaffe 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’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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
6An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
7Morgan 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.
8Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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
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’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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
6An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
7Morgan 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.
8Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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
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
CRC 6491812 (04/2024)
