Welcome

We are a highly experienced wealth management group that serves two distinct sets of clients under two banners. The Karas Team is designed to help ultra high net worth families and individuals address the complex challenges of managing significant wealth. Foundation & Endowment Services is structured to provide highly customized investment solutions to nonprofit organizations, as well as to simplify the tasks of complying with their fiduciary and regulatory responsibilities.

We believe that our two complementary businesses inform each other and enable us to provide fresh insight and a refined level of service to all of our clients. We invite you to click on the tabs above that best corresponds with your needs.
Capabilities
  • Consolidated Reporting
  • Comprehensive Wealth Planning
  • Investment Management
  • Manager Selection
  • Sustainable & Responsible Investing
  • Risk Management
  • Hedging Strategies
  • Philanthropy Management
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

About PWM

Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
  • Manage investments with an unwavering focus on your financial strategy and personal goals
  • Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
  • Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
  • Approximately 250 teams1  specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $330 billion in AUM2
  • Comprising 26% of the Barron’s Top 100 Financial Advisors list for 20173
  • Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, December 31, 2017
2 Morgan Stanley Internal Compensable Revenue Report, December 31, 2017
3 Barron’s Top 100 Financial Advisors, April 2017

Approach

Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.
Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.
Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.
Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.
Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.
Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.

Family Wealth

The Karas Team is a deeply experienced group of wealth planning, investment and client service professionals who serve an elite global clientele of ultra high net worth families and individuals. Combining our talents and perspectives with the vast global resources of Morgan Stanley, we work to create and implement highly customized, comprehensive wealth management plans to help our clients maintain their lifestyles as they protect, grow and efficiently transfer wealth.

We follow a disciplined approach to wealth planning that is grounded in investment strategy, and integrates virtually every aspect of your financial life: risk management, liabilities, trusts and estate structures, family dynamics and philanthropic strategy. While we tailor our investment approach to each client's unique goals and risk tolerance, we generally favor portfolios with modest turnover to maximize tax efficiency.

    Foundations & Endowments

    Led by Joe Karas and Stephanie Whittier,  Foundation & Endowment Services is a dedicated team within Morgan Stanley Private Wealth Management that is fully devoted to the needs of nonprofit organizations. Our team provides objective advice on asset allocation, manager search and selection, and consolidated reporting.

    We follow a highly disciplined and carefully proscribed process to identify and define your needs and goals. We assist in the formation of a precise Investment Policy Statement and create a highly customized investment strategy in accordance with those guidelines. With a full open architecture platform, we have no limitations on the investments we can offer, whether actively or passively managed, proprietary or third party. Our consolidated reporting platform is equally flexible and robust, enabling us to delivery highly customized reports based on  your precise needs.

    Our goal is to provide seamless integration and delivery of comprehensive asset management services to ease your administrative and regulatory burdens, and to help your organization reach its goals. Our only concern, at every stage of the process, is what is most appropriate for your plan.

      Location

      1585 Broadway, 21st
      Fl
      New York, NY 10036
      US
      Direct:
      (212) 761-4929(212) 761-4929

      Meet The Joseph Karas Advisory Team

      About Me

      Joe Karas leads an advisory team that is focused on helping clients meet the full range of their financial goals at every point of their lives. This may include working with affluent families on pre-liquidity planning, hedging and monetization strategies, a broad array of investment strategies and tax-efficient estate planning. It may also include working with nonprofit organizations to create, implement and maintain highly customized investment strategies. Joe was recognized as one of Forbes' Top 200 Wealth Managers in 2016 and 2017, Forbes' Best-In-State Wealth Advisors in 2018, and by Barron's magazine as one of the Top 100 advisors in New York from 2011 to 2018. He has also been selected for the Morgan Stanley Chairman's Club for the past seven years.

      Joe joined Morgan Stanley Private Wealth Management in 2001, after three years with Goldman Sachs' Private Wealth Management, where he was part of a specialized team focused on the firm's most strategic clients. Prior to his career in wealth management, Joe spent 19 years at AT&T, where he was appointed a Director of the Strategic Business Development Group, focusing on mergers and acquisitions. Joe graduated from the University of Connecticut with a B.S. in mathematics and went on to earn a M.S. in applied statistics from Rutgers University.

      Joe lives with his wife, Sherry, in Bernardsville, New Jersey. They have two adult children, both working in New York City. Joe serves on the board of the Rutgers Graduate School and previously served on the board of the New Jersey Symphony Orchestra. He enjoys golfing and skiing.
      Securities Agent: TX, NJ, WY, VA, UT, SC, RI, PR, PA, OR, OK, NY, NH, NC, MN, MI, ME, MD, MA, KS, IN, IL, GA, FL, DE, DC, CT, CO, CA, AZ; Managed Futures; Transactional Futures/Commodities; General Securities Representative; Investment Advisor Representative
      NMLS#: 1285354

      About Me

      Kristin joined Morgan Stanley Private Wealth Management in 2004.As the COO of the group, Kristin primarily focuses on leading the team in the delivery of first-class service to all clients and on managing the team's workflow. This business model allows Kristin to fully engage with every client & evaluate their unique needs.Kristin also supports the team's individual and institutional clients through an array of services, including equity and option trade execution, balancing accounts, managing partnership capital calls & distributions, and gifting.Prior to joining Morgan Stanley, Kristin began her career with Salomon Smith Barney where she worked on both the retail side and with the Middle Markets Group serving hedge funds. She also worked with Oppenheimer & Co.'s Asset Management Group.Kristin holds a B.A. in Economics from Providence College.She resides with her husband, Keith, and their two children in Manhattan.In her free time, Kristin enjoys skiing, running & playing tennis. She has completed the New York City Marathon three times. In addition, Kristin devotes her time to Swim Across America, a group that fundraises for cancer research and treatment.

      About Me

      Cameron Crowe-Morgan's primary responsibilities include client relationship management, wire transfers, trade execution and the creation of ad-hoc reports. Cameron joined Morgan Stanley Private Wealth Management in 2015 after graduating from the Villanova University School of Business with a B.B.A. in Finance and Marketing. Prior to joining Morgan Stanley, Cameron spent her summers interning in finance divisions for Comcast/NBC Universal and Creative Artists Agency.
      Cameron lives in the Gramercy Park neighborhood of Manhattan. In her free time, she enjoys snowboarding, traveling and cheering on the Villanova basketball team. She works as an advisor to the board for the National Charity League, a philanthropic organization committed to community service and leadership development.

      About Me

      Betsy Mastropieri works to deliver an outstanding service experience to the team's individual and institutional clients by performing a broad range of support functions. Prior to joining Morgan Stanley in 2014, Betsy was an accounting associate in the Finance department of Medley Capital, an asset management firm. Betsy holds a B.A. in Finance, with a supplementary major in Computer Applications, from the University of Notre Dame. She was a member of the Notre Dame NCAA Division I Varsity Women's Lacrosse team for four years.

      About Me

      Jake Haberman recently joined Morgan Stanley Private Wealth Management after spending the past two years working on the firm's Cash Management program. He was responsible for driving the suite of cash management products to help advisors and client become aware of what Morgan Stanley has to offer. Prior to the Cash Management program, Jake was working as a Client Service Associate in Morgan Stanley Wealth Management for two years. He holds both Series 7 and Series 66 licenses.Jake's primary responsibilities at Morgan Stanley Private Wealth Management is to ensure client satisfaction at the highest level. He will also be responsible for account opening and maintenance, journals, wire transfers, as well as supplying any support the team may need.Jake lives in the Upper East Side of Manhattan with his fiancé Rebecca. He enjoys cooking and traveling and is an ardent Jets, Mets, Rangers and Knicks fan.
      Economic and Market Perspectives

      On the Markets

      Insights and Outcomes

      Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
      Art as An Asset
      CRC 2274738 01/19

      Art as An Asset

      Art may play a significant role in the context of a collector's overall wealth. Generally, a collector may differentiate financial assets, including stocks, bonds and real estate, from other possessions, such as art.

      Managing Significant Wealth

      • Investment Management
      • Wealth Transfer & Philanthropy
      • Cash Management & Lending
      • Family Governance & Wealth Education
      • Lifestyle Advisory
      • Business Services
      Successfully Staffing Your Home

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      • Managing Family Wealth
      LISTEN | Passion Assets: Investing in Art

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      When a passion for collecting evolves into something of considerable value, new issues are raised. Hear what the professionals have to say about the best practices and pitfalls of collecting art and collectibles.

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      Market Information Delayed 20 Minutes
      The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.

      Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.

      Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.

      See the Financial Advisors Biographies for Registration and Licensing information.

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