Harvey B. Kadden
Managing Director, Private Wealth Management, Private Wealth Advisor, Lending Specialist, Alternative Investments Director
Phone:
(212) 883-7777(212) 883-7777
The Kadden Group at Morgan Stanley
Direct:
(212) 883-7777(212) 883-7777
Toll-Free:
(800) 995-4635(800) 995-4635
Our Mission Statement
Combining our experience with the resources of Morgan Stanley, we help families protect and enhance their wealth so they can support the people, causes and institutions that add value to their lives.
Our Story and Services
For over three decades, The Kadden Group has worked alongside sophisticated high-net worth entrepreneurs, executives, and professionals, as well their families, foundations, and institutions to meet their financial and legacy planning objectives. Combining our own experience and perspective with the vast resources of a global financial services firm, we take a holistic approach that covers virtually every aspect of our clients financial life: risk management, liabilities, trusts and estate structures, and even lifestyle management issues. Our goal is to help preserve and grow your financial, family, and social capital so that it can have the greatest positive impact today and for generations to come. We look forward to learning more about you and your family and discussing the resources we can place at your disposal.
Services Include
- Investment Management
- Manager Selection
- Comprehensive Wealth Planning
- Retirement & Pension Plans
- Cash Management and Lending ProductsFootnote1
- Consolidated Reporting
- Hedging Strategies
- Risk Management
- Pre-Liquidity Planning
- Philanthropy Management
- 10b5-(1) Programs
- Alternative InvestmentsFootnote2
- Fixed IncomeFootnote3
- Estate Planning StrategiesFootnote4
- Endowments and FoundationsFootnote5
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Philosophy
At The Kadden Group, our investment process is centered on a clear understanding of our clients’ long and short-term financial goals. Incorporating a clear awareness of our clients’ tolerance for risk, we create well diversified investment portfolios. These allocations typically include fixed income, equities, and alternative investments (including, but not limited to hedge funds, fund-of-funds, private equity and real estate typically through REITs and Private Equity). Our principal objective for client portfolios is to grow the invested principal over time with risk parameters that are acceptable to our individual clients.
Our Clients
Our clients are high-net worth individuals and families who expect a high standard of excellence from their advisors. Though our clients have various professional backgrounds, they are all sophisticated investors who rely on us for idea generation across global markets. We value each relationship and strive to reward the trust our clients have placed in us.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
55 East 52nd Street 10th
Fl
New York, NY 10055
US
Direct:
(212) 883-7777(212) 883-7777
Toll-Free:
(800) 995-4635(800) 995-4635
Meet The Kadden Group
Managing Director, Wealth Management, Financial Advisor, Lending Specialist, Family Wealth Director, Portfolio Management Director
Phone:
(212) 492-6704(212) 492-6704
Daniel Kadden
First Vice President, Wealth Management, Financial Advisor
Phone:
(212) 551-7226(212) 551-7226
Molly Ladd
Assistant Vice President, Business Development Associate
Phone:
(212) 883-7797(212) 883-7797
Lauren Petrone, CFP®
Assistant Vice President, Wealth Management Associate
Phone:
(212) 893-7697(212) 893-7697
About Harvey B. Kadden
Drawing on over three decades of experience in the financial services industry, Harvey Kadden orchestrates the team’s efforts to provide highly customized wealth management plans to high net worth families and select institutions. Harvey offers a global view of the markets based on his analysis of the macro interest rate and global financial health environments as they relate to the global fixed income and equity markets. These insights help to guide his clients in the creation of customized investment strategies.
Harvey began his career as an Annuity Specialist at Dreyfus before joining Merrill Lynch & Co in 1981 in the same capacity. He entered the Financial Advisor training program at Merrill Lynch in 1983, and later became a Managing Director. He joined Morgan Stanley Private Wealth as a Managing Director in 2011.
Harvey most recently has had the honor of being named to the Barron's Top 1,200 Financial Advisors: State-by-State ranking in 2023 and 2024. He was also named to the 2023 Forbes Best-In-State Wealth Advisors ranking.
Harvey resides in Long Island with his wife Freddi and they have three sons: Zachary, Joshua, and Daniel. Harvey is very active in various charities and sits on the board of his country club. In his free time he enjoys golf, travel, and spending time with his family, friends, and clients.
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2024) Data compiled by Barron's based on time period from Sept 2022 - Sept 2023. Awards Disclosures
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2023) Data compiled by Barron's based on time period from Sept 2021 - Sept 2022. Awards Disclosures
Forbes Best-In-State Wealth Advisors ranking
Source: Forbes.com (Awarded April 2023) Data compiled by SHOOK Research LLC based on time period from 6/30/21-6/30/22. Award Disclosures
Harvey began his career as an Annuity Specialist at Dreyfus before joining Merrill Lynch & Co in 1981 in the same capacity. He entered the Financial Advisor training program at Merrill Lynch in 1983, and later became a Managing Director. He joined Morgan Stanley Private Wealth as a Managing Director in 2011.
Harvey most recently has had the honor of being named to the Barron's Top 1,200 Financial Advisors: State-by-State ranking in 2023 and 2024. He was also named to the 2023 Forbes Best-In-State Wealth Advisors ranking.
Harvey resides in Long Island with his wife Freddi and they have three sons: Zachary, Joshua, and Daniel. Harvey is very active in various charities and sits on the board of his country club. In his free time he enjoys golf, travel, and spending time with his family, friends, and clients.
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2024) Data compiled by Barron's based on time period from Sept 2022 - Sept 2023. Awards Disclosures
Barron's Top 1,200 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Mar 2023) Data compiled by Barron's based on time period from Sept 2021 - Sept 2022. Awards Disclosures
Forbes Best-In-State Wealth Advisors ranking
Source: Forbes.com (Awarded April 2023) Data compiled by SHOOK Research LLC based on time period from 6/30/21-6/30/22. Award Disclosures
Securities Agent: VA, MA, WI, WA, OR, NJ, DC, UT, NY, IL, NV, ME, MD, FL, CT, PA, NH, CA, TX, NE, NC, ID, GA, RI, OH, DE, CO, MI, LA, VT, SC; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 579913
NMLS#: 579913
About William McKee
Will joined Morgan Stanley in 2013 after beginning his career as a Wealth Strategy Associate at UBS Financial Services, Inc. As a Financial Advisor, Will collaborates with the team’s clients to develop and implement highly customized wealth management plans based on their needs, goals and challenges. This includes working with clients to create customized investment strategies that draw upon Morgan Stanley’s capital markets and investment resources, and providing access to lending and cash management services.
Will was awarded the Morgan Stanley’s Family Wealth Director title that is reserved for a select group of Financial Advisors serving High Net Worth clients. He has also successfully attained the Lending Specialist Designation at Morgan Stanley to better assist clients and evaluate their liquidity needs as part of their larger financial goals. In addition, Will was named to Forbes Magazine’s List of Best-in-State Next-Gen Wealth Advisors for 2022, 2023 and 2025 as well as the Best-In-State Wealth Advisors for 2025.
A member of Duke University’s 2010 National Champion Lacrosse Team, Will graduated with a B.S. in Economics. He remains actively involved in the sport, coaching youth lacrosse. Outside of the office, Will enjoys golf, travel, outdoor activities and spending time with his sons Brooks and Miller and wife Catherine.
2023 & 2025 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (2023 & 2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2022, 2023 & 2025 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (2022, 2023, & 2025). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Will was awarded the Morgan Stanley’s Family Wealth Director title that is reserved for a select group of Financial Advisors serving High Net Worth clients. He has also successfully attained the Lending Specialist Designation at Morgan Stanley to better assist clients and evaluate their liquidity needs as part of their larger financial goals. In addition, Will was named to Forbes Magazine’s List of Best-in-State Next-Gen Wealth Advisors for 2022, 2023 and 2025 as well as the Best-In-State Wealth Advisors for 2025.
A member of Duke University’s 2010 National Champion Lacrosse Team, Will graduated with a B.S. in Economics. He remains actively involved in the sport, coaching youth lacrosse. Outside of the office, Will enjoys golf, travel, outdoor activities and spending time with his sons Brooks and Miller and wife Catherine.
2023 & 2025 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (2023 & 2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2022, 2023 & 2025 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (2022, 2023, & 2025). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Securities Agent: CT, ID, UT, SC, PA, DE, VA, TX, IL, FL, RI, NY, GA, DC, VT, TN, NE, CA, NV, WA, MA, LA, CO, MD, KY, OR, OH, NC, ME, NH, MO, AZ, WI, NJ, MI; General Securities Representative; Investment Advisor Representative
NMLS#: 1279215
NMLS#: 1279215
About Daniel Kadden
As a Financial Advisor at Morgan Stanley, Daniel Kadden is committed to working with clients to develop comprehensive tailored plans that meet their short and long term goals. Before joining the Kadden Group, Daniel spent two years working within Morgan Stanley’s Home Office. Drawing on this experience, Daniel incorporates Morgan Stanley’s extensive resources into the solutions provided to The Kadden Group’s clients, including investment solutions, liability management, estate planning, and financial planning.
Daniel graduated from the University of Michigan with a BA in Economics. He currently lives in New York City and enjoys golf, reading, and travel. Daniel is the Co-Chair of the Rising Leadership Committee at F.A.R.E (Food Allergy Research and Education) where he works to raise awareness and resources for those impacted by food allergies. Daniel is also involved with Supplies for Success, where he helps fill and distribute fully packed backpacks with school supplies to underprivileged children in the local area.
Daniel graduated from the University of Michigan with a BA in Economics. He currently lives in New York City and enjoys golf, reading, and travel. Daniel is the Co-Chair of the Rising Leadership Committee at F.A.R.E (Food Allergy Research and Education) where he works to raise awareness and resources for those impacted by food allergies. Daniel is also involved with Supplies for Success, where he helps fill and distribute fully packed backpacks with school supplies to underprivileged children in the local area.
Securities Agent: NV, FL, RI, ME, WA, NY, IL, NJ, DE, DC, CA, WI, NH, MA, CT, VT, LA, SC, PA, NE, NC, MI, MD, VA, OH, CO, UT, TX, OR, ID, GA; General Securities Representative; Investment Advisor Representative
NMLS#: 1913306
NMLS#: 1913306
About Molly Ladd
Molly Ladd works alongside the team's advisors to help create an exceptional service experience for their clients. Molly joined the Kadden Group in 2017 after two years as a Registered Client Service Associate with UBS Financial Services, Inc. Before beginning her financial services career, she spent five years working as a Project Manager for the international nonprofit Covenant House and as an Executive Assistant. Molly Graduated from Georgetown University in 2010 with a B.A. in Philosophy and French. She lives in Denver, CO and enjoys volunteer work, running, art, and great food.
About Lauren Petrone
Lauren provides day-to-day support with client requests, performance reporting, account opening, and all other service-related items. She is Series 7, 9, 10 and 66 licensed.
Prior to joining the team, Lauren served as a Business Service Officer in the Morgan Stanley Midtown Manhattan Complex where she was responsible for overseeing approximately 30 service professionals and supervised all service and business functions in the complex.
Lauren received a Bachelor of Science degree from Penn State University, majoring in Marketing with a Concentration in Finance. Lauren volunteers as a mentor for Smeal College of Business, where she provides career development, professional guidance, and assistance with the navigation of professional environment for current students.
Lauren currently resides in Manhattan, NY and enjoys running and travelling in her free time.
Prior to joining the team, Lauren served as a Business Service Officer in the Morgan Stanley Midtown Manhattan Complex where she was responsible for overseeing approximately 30 service professionals and supervised all service and business functions in the complex.
Lauren received a Bachelor of Science degree from Penn State University, majoring in Marketing with a Concentration in Finance. Lauren volunteers as a mentor for Smeal College of Business, where she provides career development, professional guidance, and assistance with the navigation of professional environment for current students.
Lauren currently resides in Manhattan, NY and enjoys running and travelling in her free time.
Securities Agent: PA, PR, CO, MA, LA, KY, VI, TN, OH, SC, OR, HI, NY, WV, WY, WI, WA, VT, VA, UT, TX, SD, RI, NV, MN, GA, OK, FL, NM, ND, MS, MO, NE, ME, MI, MT, MD, NH, NJ, KS, NC, IL, ID, IA, AR, AL, DE, DC, CT, CA, AZ, AK, IN; BM/Supervisor; General Securities Representative; Investment Advisor Representative
Contact Harvey B. Kadden
Contact William McKee
Contact Daniel Kadden
Awards and Recognition
Barron's Top 1,200 Financial Advisors: State-by-State
2023-2024 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State) Source: Barrons.com (Awarded 2023-2024). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
Wealth Management
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Portfolio Insights
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Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
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- Traditional Investments
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- Impact Investing
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
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Financial Planning for Life After Selling a Business
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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.
Ready to start a conversation? Contact The Kadden Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley 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
2Alternative 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.
3Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
4Morgan 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.
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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
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.
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The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan Stanley 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
2Alternative 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.
3Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
4Morgan 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.
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.
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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
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Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
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