Joseph Karas
Managing Director, Private Wealth Management, Private Wealth Advisor, Institutional Consulting Director
Phone:
(212) 761-4929(212) 761-4929
Morgan Stanley Private Wealth Management
The Karas Team
Direct:
(212) 761-4929(212) 761-4929
Our Mission Statement
A boutique group within a global firm, we serve an elite clientele of affluent families, individuals, and nonprofit organizations.
Welcome
The Karas Team is a highly experienced team of wealth management professionals within Morgan Stanley Private Wealth Management. Formed over 20 years ago, our mission is to meet the unique needs of ultra high-net worth individuals and families facing the added complexity that comes with managing significant wealth. Our team believes in a holistic approach to wealth management, tying together liquidity needs, investment goals, trust and estate planning, financial planning, and charitable giving. We work alongside your other trusted professionals; your accountant, your attorney and, and trustees, among others.
As a bespoke team within a global firm, we believe we can offer the best of both. Combining our inhouse capabilities and experience with the vast resources of Morgan Stanley, our team is able to provide a comprehensive wealth management experience that aligns with your personal financial goals and risk tolerance.
Our team has a depth of experience working with a wide range of situations; we focus on working with high-level executives and entrepreneurs managing concentrated stock positions and significant liquidity events. In addition, we have knowledge with foundations and endowments, as well as global sports and entertainment needs. Uniting these different offerings is a singular commitment to helping simplify your life and meet your financial goals, allowing you to focus on the things most important to you.
AWARDS:
2018-2026 Forbes Best-In-State Wealth Advisors
2018-2026 Forbes Best-In-State Wealth Advisors: Source: Forbes.com (2018-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award
2013-2024 Barron's Top 1,200 Financial Advisors
2013-2024 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 2013, 2014, 2015, 2016, 2017, 2018, 2019,2020, 2021, 2022, 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.
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 300 teams specialized in assisting individuals and families with $20MM+ in investable assets
- Over $1.2 trillion in AUM
- Comprising 26% of the Barron’s Top 100 Financial Advisors list for 2025
- 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, September 2025
Source: Barron's (Awarded March 2025) This ranking was determined based on an evaluation process conducted by Barron's for the period Oct 2023-Sept 2024. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to Barron's to obtain or use the ranking. This ranking is based on an algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the assessment of Barron's and may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
OUR APPROACH
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 look to preserve, 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 seeking to maximize tax efficiency.
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 seeking to maximize tax efficiency.
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
CLIENT RESOURCES
Estate Planning
Estate planning is the process of making arrangements to pass down wealth and assets after a person’s death. Proper estate planning gives careful consideration to the estate owner’s future plans, preferences and goals. Tax implications of the plan should also be thoroughly documented.
Learn More
Estate Planning Checklist
Building an effective estate planning checklist that reflects personal goals and family circumstances—and coordinates legal, tax, and beneficiary decisions—requires a series of deliberate steps to organize key documents, confirm ownership and titling, align fiduciary roles, and establish a clear plan for wealth transfer and legacy stewardship.
Learn More Here
The Business Owner Brochure
As a business owner, you have devoted your career to building your enterprise. Now, it is time to plan for what comes next: enjoying the substantial rewards of your success, spending more time with your family and pursuing new challenges.
Learn More Here
Exiting Your Business: The Transaction of a Lifetime
Looking to exit your business and retire? You're not alone. View the link below to learn more about the most important transaction in an entrepreneur's life.
Learn More Here
Your Entrepreneurial Journey Placemat
Making key decisions at the correct junctures accelerates the growth of your business. View the entrepreneurial journey placemat to learn more
Learn More Here
Alternative Investments
Our leading alternatives platform offers 200+ third-party and proprietary funds, including first look and exclusive opportunities, that may help qualified investors enhance returns, reduce volatility, manage taxes and generate income. From simplified vehicles available more broadly to institutional strategies, the platform supports a goals-based approach for asset allocation tailored to investor needs.
Morgan Stanley Alternative Investments
Private Markets
Many of today’s companies stay private longer, with more of their valuation being created before they become publicly traded. Morgan Stanley Private Markets connects a broad network of potential private investors in an accessible ecosystem, allowing eligible clients to buy and sell securities of private companies.
Morgan Stanley Private Markets
The Private Equity Principals Brochure
Successful private equity careers tend to proceed in asymmetrical fashion. Substantial gain may follow considerable setbacks. Success itself tends to create concentration risks that may leave highly sophisticated investors in need of supplemental investment advice outside their areas of expertise.
Learn More Here
Global Sports & Entertainment
There’s no limit to your potential—during your career and beyond. Morgan Stanley Global Sports & Entertainment (GSE) pairs advanced experience in your complex industry with the global resources of a top-tier firm to help you achieve financial independence today and a legacy of greatness tomorrow.
Learn More HereResources and Insights
If you have questions or would like to discuss any of the following topics in greater detail, please feel free to reach out to our team.
Wealth Management Virtual Events
Get insights from Morgan Stanley's thought leaders, industry trailblazers, and influential voices on what's shaping the markets and economy today.
Learn More
Morgan Stanley Reserved Living and Giving
Reserved Living & Giving is a tiered, complimentary perks program that rewards Morgan Stanley’s
eligible clients. Members enjoy access to discounts from popular brands, one-of-a-kind experiences
and sought-after events.
Register Hereeligible clients. Members enjoy access to discounts from popular brands, one-of-a-kind experiences
and sought-after events.
Morgan Stanley's U.S. Financials 2026 Conference Takeaways
From consumer and commercial lending to AI investment and capital markets, industry leaders see multiple drivers supporting growth across the financial sector.
Learn More
Morgan Stanley's Innovation & Impact 2026 Summit Takeaways
Leaders at Morgan Stanley’s Innovation & Impact Summit explored how AI, robotics, energy and healthcare technologies are reshaping industries, investing and long-term economic growth.
Learn More
Slimmon's Take: June 2026
In his June 2026 Equity Market Outlook, Andrew Slimmon, Senior Portfolio Manager and the Head of Applied Equity Advisors team, presents recent news in equity markets, analyzes economic indicators, and offers personal insights into bull market trends.
Learn More
How Affluent Families Can Plan for Hidden Risks
Hidden risks abound. For affluent families, this can mean unwanted financial exposure. A simple risk assessment can go a long way to help close these gaps.
Learn More
2026 Tax Tables
The 2026 Tax Rate Schedule provides standard deductions for different filing statuses, phaseout amounts, and tax deadlines. It includes additional deductions for non-itemizers and tax rates for long-term capital gains, qualified dividends, and child tax credit, along with other relevant information to help you prepare for tax season.
Read Here
Thoughts on the Market Podcast
Join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Listen Here
Hard Lessons
Iconic investors sit down with Morgan Stanley leaders to go behind the scenes on the critical moments – both successes and setbacks – that shaped who they are today.
Watch Here
Exceptional Leaders
In this engaging series from Morgan Stanley, experts from across the firm sit down with leaders at world-class companies for insightful conversations covering everything from leadership lessons to foundational changes in industries, markets and society.
Listen Here
4 Ways the AI Supercycle Is Changing How Companies Operate
As companies deploy AI systems to act with greater autonomy, they are rethinking software, data, governance and operating models to compete in AI’s next phase.
Learn More
Know What To Do If You Think You've Been Hacked
While you can't eliminate the risk of being the victim of a cybercrime, know the steps to take if and when your identity, accounts, devices or information is compromised.
Learn MoreLocation
1585 Broadway
21st Fl
New York, NY 10036
US
Direct:
(212) 761-4929(212) 761-4929
3801 PGA Boulevard
Suite 700
Palm Beach Gardens, FL 33410
US
Direct:
(212) 761-4929(212) 761-4929
Meet The Karas Team
Andrew Karas
Vice President, Private Wealth Advisor
Phone:
(332) 205-2521(332) 205-2521
Kristin Murray
Senior Vice President, Investment Consultant, COO, Private Wealth Management
Phone:
(212) 761-4705(212) 761-4705
Stephanie Whittier
Executive Director, Private Wealth Advisor
Phone:
(212) 761-5448(212) 761-5448
Jacob Haberman
Vice President, Business Development Associate
Phone:
(212) 761-9635(212) 761-9635
Denise Keller
PWM Wealth Management Associate
Phone:
(212) 761-5929(212) 761-5929
Alexander Estok
Assistant Vice President, Portfolio Management Associate
Phone:
(212) 761-5866(212) 761-5866
Will Scott
Registered Client Service Associate
About Joseph Karas
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 has been recognized as one of Forbes' Best-In-State Wealth Advisors annually since 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.
2018-2026 Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
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.
2018-2026 Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Securities Agent: TN, AZ, MD, MA, FL, CA, KS, NJ, NC, MT, TX, SC, MI, CO, UT, IN, GA, CT, WY, VA, NV, ME, DC, OK, OH, IL, RI, VT, PA, OR, NY, NH, MN, DE, HI, WI, PR; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1285354
NMLS#: 1285354
About Andrew Karas
As a member of the Karas Advisory Team, Andrew works directly with clients to provide solutions to complex wealth challenges. His primary responsibilities include developing financial planning strategies for clients, monitoring client portfolios and investment manager performance, and assisting in developing and implementing customized portfolio strategies.
Andrew joined Morgan Stanley in 2019. Previously, he spent seven years as a consultant at Deloitte, working with major financial institutions on a range of risk and capital-related projects. His experience there included designing and implementing programs to optimize bank capital and liquidity, enhancing risk-management processes, and developing loss-forecasting programs used for stress testing and strategic decision-making. He left Deloitte as a Manager, having led a team of more than 20 employees based both domestically and internationally.
Andrew grew up in New Jersey and graduated magna cum laude with a degree in political science and economics from Bucknell University. His charitable involvement includes working with Community Bucket and Shatterproof, which combat homelessness and addiction.
In his spare time, Andrew enjoys playing hockey, reading, and traveling. He currently lives in the West Village of Manhattan.
Andrew joined Morgan Stanley in 2019. Previously, he spent seven years as a consultant at Deloitte, working with major financial institutions on a range of risk and capital-related projects. His experience there included designing and implementing programs to optimize bank capital and liquidity, enhancing risk-management processes, and developing loss-forecasting programs used for stress testing and strategic decision-making. He left Deloitte as a Manager, having led a team of more than 20 employees based both domestically and internationally.
Andrew grew up in New Jersey and graduated magna cum laude with a degree in political science and economics from Bucknell University. His charitable involvement includes working with Community Bucket and Shatterproof, which combat homelessness and addiction.
In his spare time, Andrew enjoys playing hockey, reading, and traveling. He currently lives in the West Village of Manhattan.
Securities Agent: NC, ME, NY, PA, TX, WI, GA, WY, VT, VA, UT, SC, RI, PR, OR, OK, OH, NV, NJ, NH, MT, MN, MI, MD, MA, KY, KS, IN, IL, HI, FL, DE, DC, CT, CO, CA, AZ, TN; General Securities Representative; Investment Advisor Representative
NMLS#: 1928500
NMLS#: 1928500
About Kristin Murray
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 four times. In addition, Kristin devotes her time to Swim Across America, a group that fundraises for cancer research and treatment.
NMLS#: 2641473
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 four times. In addition, Kristin devotes her time to Swim Across America, a group that fundraises for cancer research and treatment.
NMLS#: 2641473
About Stephanie Whittier
Securities Agent: RI, OK, OH, NJ, NC, TN, MI, CT, AZ, TX, SC, PR, MN, MA, FL, CO, NE, DE, CA, PA, MT, MO, VT, VA, NY, IL, GA, MD, DC; BM/Supervisor; General Securities Representative; Investment Advisor Representative
About Jacob Haberman
Jake joined Morgan Stanley in 2013 and more recently Morgan Stanley Private Wealth Management in 2016. He brings a client-first mindset and has a track record of delivering exceptional service and support to all clients. As a senior member of the team, Jake builds trusted client relationships through regular, proactive engagement and strong interpersonal communication, ensuring a consistently high-quality client experience. He holds both Series 7 and Series 66 licenses.
Jake earned his Bachelor of Arts degree in English from Binghamton University. Jake currently lives in Jersey City with his wife Rebecca and son Logan. He enjoys cooking and traveling and is an ardent Jets, Mets, Rangers and Knicks fan.
Jake earned his Bachelor of Arts degree in English from Binghamton University. Jake currently lives in Jersey City with his wife Rebecca and son Logan. He enjoys cooking and traveling and is an ardent Jets, Mets, Rangers and Knicks fan.
About Denise Keller
Denise primarily works with the institutional clients of the Karas Advisory Team to help meet their unique needs. This includes client account maintenance, funds transfer execution, and performance reporting support, amongst other client support activities. Prior to joining Morgan Stanley Private Wealth Management, Denise worked as a Client Service Associate with Morgan Stanley Wealth Management for four years, supporting teams in New Jersey and Florida. She holds both Series 7 and Series 66 licenses.
Denise earned her degree in Business Administration with a concentration in Finance from the University of Notre Dame. Denise relocated to Ponte Vedra Beach, Florida from New Jersey with her husband and four children. In her free time, she enjoys fitness, spending time with family and friends at the beach, and interior design.
Denise earned her degree in Business Administration with a concentration in Finance from the University of Notre Dame. Denise relocated to Ponte Vedra Beach, Florida from New Jersey with her husband and four children. In her free time, she enjoys fitness, spending time with family and friends at the beach, and interior design.
About Alexander Estok
Alex focuses on coordinating alternative investments for qualified clients and conducting client reporting for the team. He prides himself on providing excellent service to clients.
He joined Morgan Stanley in 2018, and holds his Series 7 and Series 66 industry licenses. He is a graduate of Fairfield University with a B.S. degree in Finance and a minor in Economics.
In his spare time, Alex is a fixed-wing pilot and enjoys cooking, golfing, and fishing.
He joined Morgan Stanley in 2018, and holds his Series 7 and Series 66 industry licenses. He is a graduate of Fairfield University with a B.S. degree in Finance and a minor in Economics.
In his spare time, Alex is a fixed-wing pilot and enjoys cooking, golfing, and fishing.
About Will Scott
Will joined Morgan Stanley Private Wealth Management in June of 2024 and transitioned to the Karas team in 2025. He supports clients by responding to inquiries with accuracy, efficiency, and a relationship-first mindset. Since joining the team, he has focused on clear communication and dependable follow-through to help ensure a strong client experience.
Will holds the Series 7 and Series 66 licenses. He graduated from Bucknell University in 2024 with a B.A. in Political Science. He grew up in New Jersey and currently resides in New York City. Outside of the office, Will enjoys golf, fishing, and playing hockey, and he is a lifelong New York Rangers fan.
Will holds the Series 7 and Series 66 licenses. He graduated from Bucknell University in 2024 with a B.A. in Political Science. He grew up in New Jersey and currently resides in New York City. Outside of the office, Will enjoys golf, fishing, and playing hockey, and he is a lifelong New York Rangers fan.
Contact Joseph Karas
Contact Andrew Karas
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Private Wealth Management Podcast
Bringing you engaging stories and key insights surrounding the complexities associated with significant wealth, including:
- Intergenerational Planning
- Philanthropic Giving
- Non-Traditional Assets
- Managing Family Wealth
Managing Significant Wealth
- Investment Management
- Wealth Transfer & Philanthropy
- Cash Management & Lending
- Family Governance & Wealth Education
- Lifestyle Advisory
- Business Services
PWM Leadership Insights & Outcomes
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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.
Wealth Management for Athletes and Entertainers
Understanding the unique financial challenges of athletes and entertainers and how they differ from one profession to the next, we deliver the experience and resources you need to help create and implement a comprehensive, multigenerational wealth management plan based on your needs, values and aspirations.
- Investment Management
- Wealth Transfer & Philanthropy
- Private Banking Solutions
- Family Governance & Wealth Education
- Lifestyle Advisory
We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
1Borrowing against securities may not be appropriate for everyone. You should 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.
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.
Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your 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”) reserves 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 your 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.
2Morgan 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
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.
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
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.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Awards Disclosures | Morgan Stanley
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.
Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your 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”) reserves 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 your 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.
2Morgan 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
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.
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
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.
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CRC 4677197 (7/2025)
