Steve Kaufman, CFP®, CEPA®
Senior Vice President, Wealth Management, Financial Advisor, Alternative Investments Director
Phone:
(954) 713-8440(954) 713-8440
The Kaufman Millikin Group at Morgan Stanley
Our Mission Statement
At The Kaufman Millikin Group, we help you build and preserve your wealth now and across generations. Through ongoing communication, education and a disciplined process, we serve as the trusted lifeguards of your financial life.
A Disciplined Process to Smart Money Management
At The Kaufman Millikin Group, we focus on what is most important to you, your family and your future. We provide the personalized service, specialized skills and global resources needed to make more informed and confident decisions about your wealth.
The Kaufman Millikin Group is proud to be recognized as one of Forbes Best-In-State Wealth Management Teams for 2023, 2024 and 2025.*
Additionally, Steve Kaufman has been named to Morgan Stanley's prestigious Century Club for 2024.
Like a lifeguard who is responsible for protecting you from harm, we commit to making a meaningful difference in your financial life through the delivery of six core values that have become the hallmark of our practice:
• Deep and caring relationships that span generations
• Competence through extensive experience
• Proven processes that drive results
• A focus on financial education
• The value of teamwork
• A commitment to proactive service
These values are detailed in the next tab on our website. We invite you to visit this tab to understand how we bring these attributes to life every day with our clients.
Organization, Efficiency and Control
With offices in Fort Lauderdale and clients all over the country, our strength lies in our ability to understand and respond to your specific financial needs as they evolve over time.
We are committed to delivering objective advice through organization, efficiency and control – three factors that empower you to make thoughtful decisions. Most importantly, we help you take the emotion out of making these decisions, bringing a disciplined process to smart money management.
We look forward to getting started.
*Awards Disclosure
2023-2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com (Awarded 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.
Services Include
- Financial PlanningFootnote1
- Retirement PlanningFootnote2
- Wealth ManagementFootnote3
- Professional Portfolio ManagementFootnote4
- Corporate Retirement PlansFootnote5
- Trust ServicesFootnote6
- Estate Planning StrategiesFootnote7
- Planning for Education FundingFootnote8
- Life InsuranceFootnote9
- Long Term Care InsuranceFootnote10
- Cash Management and Lending ProductsFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
What Sets Us Apart
We enjoy working with individuals and families who seek the same type of long-term, fully-engaged relationships we value and who appreciate the following attributes we believe set us apart from other advisory teams.
Deep and Caring Relationships
The most important part of our job is getting to know the person behind the portfolio. We concentrate on building enduring relationships, so we may fully understand you and your family. This leads us to recommend solutions that are designed to not only achieve your financial goals, but are reflective of who you are and where you want to go.
Extensive Experience
The diversity of our backgrounds enables us to deliver fresh ideas for today’s complex world. We believe in financial planning and Steve and Jeffrey have both earned the Certified Financial PlannerTM designation, the industry standard for comprehensive planning. Jeffrey also holds the Chartered Retirement Planning Counselor designation. Together, we have more than 50 years of industry experience. We use our analytical skills to evaluate and recommend appropriate strategies. Our priority is to be your first call for any financial matter – no matter how simple or complex the situation.
We Have a Process For That
The words “standard operating procedure” or “SOP”, for short, are part of our vernacular. Everything about our practice is structured and process-driven. We owe that to Jeffrey’s eight years of service in the Marines. We run a tight ship to help ensure your goals are accomplished on time and as planned.
Financial Education
Financial education is a vital element of our practice and helps ensure continuity as wealth moves from one generation to the next. We believe it is our responsibility to provide the knowledge and information needed to make informed and confident decisions. We are here to answer critical questions that may impact the long-term wealth of your extended family.
Teamwork
To gain the precise knowledge needed to manage all aspects of your wealth, we work closely with your accountant and estate planning attorney. Where appropriate, we consult with our network of specialists within Morgan Stanley and across the industry to evaluate your unique challenges and devise specific recommendations.
Proactive Service
We keep you focused on your finances by proactively scheduling regular calls with a detailed agenda. These conversations are our time to discuss updates in your life, questions you may have about the market or timely information about your portfolio. We believe it is our responsibility to always be in sync with the changes in your life, so we can respond strategically to new risks and opportunities. The result is an integrated financial strategy that focuses on meeting your goals today and as they evolve over time.
Frequently Asked Questions
You’ve Got Questions, We’ve Got Answers
- As your life and career evolve, so do your goals. We help answer your critical financial questions and adapt your strategy to meet your changing needs. Here are just some of the questions we help our clients answers every day.
- Life is constantly changing. How do I prepare for a more secure future, knowing that certain events can impact my plans?
- How do I invest for the future, but have the cash on hand I need for today?
- What is the best way to generate income from my investments?
- Have I saved enough for retirement so I can maintain my current lifestyle?
- Will I be able to send my children to the colleges of their choice, while being able to save for other long-term goals?
- Given extended life expectancy, how do I make sure I can afford the health services I may need?
- What happens to the management of my assets, should I become incapacitated?
- Making sure my estate goes to the people and organizations I care about is important to me. How do I leave a lasting legacy?
Location
350 East Las Olas Blvd
Ste 1500
Ft Lauderdale, FL 33301
US
Direct:
(954) 713-8440(954) 713-8440
Meet The Kaufman Millikin Group
Jeffrey Millikin, CFP®, CRPC®, CPFA
Senior Vice President, Wealth Management, Financial Advisor
Phone:
(954) 713-8441(954) 713-8441
Phone:
(954) 267-5662(954) 267-5662
Phil Petruzzelli
Client Service Associate
Phone:
(954) 713-8442(954) 713-8442
Casey Prisco
Registered Client Service Associate
Phone:
(954) 713-8453(954) 713-8453
About Steve Kaufman
Steve brings a lifetime of experience to his role as a wealth management professional. As a Certified Financial Planner, Portfolio Manager and co-founder of The Kaufman Millikin Group, Steve has dedicated his career to providing personalized financial advice through a disciplined process. He enjoys educating and advising clients on how to make informed and confident decisions about their wealth. For Steve, professional success is measured in terms of client well-being and goal achievement.
Growing up in Parsippany, NJ, Steve was raised by two-hard working parents who ran a successful business in a nearby town. They worked long days and even longer weeks. Their dedication to their customers – treating everyone like family – was a principle that would become Steve’s “North Star” as he graduated from Fairleigh Dickenson University and moved to Florida. He began his career at Halpert, Oberst and Company, a municipal bond brokerage company located in Hallandale. The next 40+ years were filled with new and expanding opportunities that took Steve to such firms as Prudential Securities, Smith Barney and Merrill Lynch. He joined Morgan Stanley in 2019 and has been an invaluable member of the firm ever since.
For over 40 years, Steve has worked in the financial industry, building a successful practice and advising families on how to better understand and manage their total financial picture. His process begins with asking the right questions and listening carefully to deeply understand each client’s goals, values and circumstances. This information then serves as the foundation of a customized plan and investment portfolio. Steve enjoys educating clients so they can do more with their wealth now, while strengthening their long-term financial security.
Steve believes balance is vital to a happy life. He and his wife, Denise, have been married since 1991 and live in the same house they purchased over 30 years ago. They have three sons, Jacob, Joshua and Luke. Outside of the office, Steve loves to stay active. Favorite activities include pickleball, clay shooting, working out and training for half-marathons. He and Denise travel regularly across the country to participate in the marathon circuit. They also love to spend time enjoying the tranquility of their lake home in Lake Placid, Florida.
Growing up in Parsippany, NJ, Steve was raised by two-hard working parents who ran a successful business in a nearby town. They worked long days and even longer weeks. Their dedication to their customers – treating everyone like family – was a principle that would become Steve’s “North Star” as he graduated from Fairleigh Dickenson University and moved to Florida. He began his career at Halpert, Oberst and Company, a municipal bond brokerage company located in Hallandale. The next 40+ years were filled with new and expanding opportunities that took Steve to such firms as Prudential Securities, Smith Barney and Merrill Lynch. He joined Morgan Stanley in 2019 and has been an invaluable member of the firm ever since.
For over 40 years, Steve has worked in the financial industry, building a successful practice and advising families on how to better understand and manage their total financial picture. His process begins with asking the right questions and listening carefully to deeply understand each client’s goals, values and circumstances. This information then serves as the foundation of a customized plan and investment portfolio. Steve enjoys educating clients so they can do more with their wealth now, while strengthening their long-term financial security.
Steve believes balance is vital to a happy life. He and his wife, Denise, have been married since 1991 and live in the same house they purchased over 30 years ago. They have three sons, Jacob, Joshua and Luke. Outside of the office, Steve loves to stay active. Favorite activities include pickleball, clay shooting, working out and training for half-marathons. He and Denise travel regularly across the country to participate in the marathon circuit. They also love to spend time enjoying the tranquility of their lake home in Lake Placid, Florida.
Securities Agent: MI, IN, DC, KS, CT, CA, UT, TX, SC, ND, VA, PA, FL, OH, NY, NV, DE, CO, NJ, MO, TN, NC, GA, MA; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 521003
CA Insurance License #: 0B88859
NMLS#: 521003
CA Insurance License #: 0B88859
About Jeffrey Millikin
Jeffrey is a Certified Financial Planner, Chartered Retirement Planning Counselor®, and co-founder of The Kaufman Millikin Group, a highly skilled advisory team located in Fort Lauderdale. He focuses on making a real difference in his clients’ lives through ongoing financial education and the implementation of a comprehensive financial plan. He listens carefully to each client’s goals, values and concerns, working tirelessly to help them achieve their personal and financial objectives.
Jeffrey joined the Marines at age 21. This experience had a profound impact on his life, deepening such values as discipline and strategic planning, critical tenets that serve as the foundation of his practice today. When Jeffrey arrived at his first unit, he was encouraged to take a personal financial management course. This course introduced him to the world of finance and awakened a passion for investing. When it came time to leave the Marines, Jeffrey decided to pursue a career that combined his interest in the markets with his desire to help others. After graduating cum laude from Florida Atlantic University, he joined Merrill Lynch in 2006 and 13 years later moved to Morgan Stanley.
Jeffrey enjoys working with like-minded clients who value the level of skill and service he and his colleagues deliver. He is committed to delivering a comprehensive financial plan to every client. This plan helps them make well-informed decisions, while maintaining the discipline necessary to navigate today’s challenging markets. Jeffrey receives great satisfaction knowing he is making a significant impact on the quality of his clients’ lives and often becomes one of the most important relationships to his clients and their families.
Jeffrey’s life centers on a love for his family. He and his soul mate, Jennifer, first met at the age of two, began dating in eighth grade and married in 2000. They find their most valued assets are their three sons, Matthew, Hunter and Logan. Outside of the office, Jeffrey enjoys all things outdoors – from target shooting and do-it-yourself projects around the house to hiking in the Everglades with his family.
Jeffrey joined the Marines at age 21. This experience had a profound impact on his life, deepening such values as discipline and strategic planning, critical tenets that serve as the foundation of his practice today. When Jeffrey arrived at his first unit, he was encouraged to take a personal financial management course. This course introduced him to the world of finance and awakened a passion for investing. When it came time to leave the Marines, Jeffrey decided to pursue a career that combined his interest in the markets with his desire to help others. After graduating cum laude from Florida Atlantic University, he joined Merrill Lynch in 2006 and 13 years later moved to Morgan Stanley.
Jeffrey enjoys working with like-minded clients who value the level of skill and service he and his colleagues deliver. He is committed to delivering a comprehensive financial plan to every client. This plan helps them make well-informed decisions, while maintaining the discipline necessary to navigate today’s challenging markets. Jeffrey receives great satisfaction knowing he is making a significant impact on the quality of his clients’ lives and often becomes one of the most important relationships to his clients and their families.
Jeffrey’s life centers on a love for his family. He and his soul mate, Jennifer, first met at the age of two, began dating in eighth grade and married in 2000. They find their most valued assets are their three sons, Matthew, Hunter and Logan. Outside of the office, Jeffrey enjoys all things outdoors – from target shooting and do-it-yourself projects around the house to hiking in the Everglades with his family.
Securities Agent: DE, FL, CT, NJ, GA, CO, MO, DC, TX, NY, IN, TN, MA, LA, NC, MI, KS, OH, VA, SC, CA, PA, NV; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 521005
CA Insurance License #: 4009065
NMLS#: 521005
CA Insurance License #: 4009065
About Michael Trupiano
An experienced financial professional, Mike enjoys working with successful individuals, families and business owners, providing personalized advice through a disciplined wealth management approach. He combines his analytical skills with his institutional knowledge to guide clients towards the achievement of their specific financial goals. Mike focuses on what is most important to each client, so he can develop a customized plan designed to build, preserve and transfer their wealth.
A graduate of Florida State University with both a Master’s and undergraduate degrees in Finance, Mike began his financial services career in 2012 at Franklin Templeton, a large international asset manager. For the next seven years, Mike worked primarily with institutions and was responsible for the valuation of all assets across the firm’s mutual funds platform. With the desire to work more closely with individuals and families, Mike joined The Kaufman Millikin Group in 2019 and became a Financial Advisor. Today, he enjoys sharing his institutional knowledge with clients, building personal relationships and helping them achieve their personal and professional goals.
With Mike’s deep investment experience and knowledge, he has developed a strong understanding of economics and is well versed in the equity and fixed income markets. Over the years, he has cultivated focused skills in a broad array of asset classes, including stocks, bonds, options municipals and private equity. Mike takes pride in his ability to put complex investment strategies into action and effectively communicate these strategies using easy-to-understand language.
Born and raised in Broward County, Mike currently resides in Fort Lauderdale. An avid sports fan, he aims to visit one new college football stadium every year. He also likes to stay active, whether doing CrossFit or running. In 2022, Mike completed the Pittsburgh half marathon in support of The Outlier Fund foundation.
A graduate of Florida State University with both a Master’s and undergraduate degrees in Finance, Mike began his financial services career in 2012 at Franklin Templeton, a large international asset manager. For the next seven years, Mike worked primarily with institutions and was responsible for the valuation of all assets across the firm’s mutual funds platform. With the desire to work more closely with individuals and families, Mike joined The Kaufman Millikin Group in 2019 and became a Financial Advisor. Today, he enjoys sharing his institutional knowledge with clients, building personal relationships and helping them achieve their personal and professional goals.
With Mike’s deep investment experience and knowledge, he has developed a strong understanding of economics and is well versed in the equity and fixed income markets. Over the years, he has cultivated focused skills in a broad array of asset classes, including stocks, bonds, options municipals and private equity. Mike takes pride in his ability to put complex investment strategies into action and effectively communicate these strategies using easy-to-understand language.
Born and raised in Broward County, Mike currently resides in Fort Lauderdale. An avid sports fan, he aims to visit one new college football stadium every year. He also likes to stay active, whether doing CrossFit or running. In 2022, Mike completed the Pittsburgh half marathon in support of The Outlier Fund foundation.
Securities Agent: NV, CA, TX, MO, ME, NJ, MA, SC, MI, FL, TN, NY, NC, KS, GA, OH, CO, PA, DE, VA, IN, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 2145218
NMLS#: 2145218
About Phil Petruzzelli
Drawing on more than 40 years of industry experience, Phil is often the first line of contact on a wide range of administrative and operational services. Phil is a consummate professional, he is committed to providing each client with the highest level of personal service and integrity.
From the largest task to the smallest request, Phil works diligently to exceed client expectations. His primary responsibilities include ensuring client account information is up to date, and performing operational tasks that support Steve, Jeff and Mike in the day-to-day management of their wealth management practice.
Phil joined Morgan Stanley in 2021 and maintains his Series 7 FINRA license. He also has his Life, Health and Variable Annuity License.
Born and raised in New York, Phil has worked for over 40 years at various Brokerage firms including, Drexel Burnham, Fidelity, ABN Amro, UBS and Societe Generale to name a few. Phil moved to Florida in 2016. He now lives in Boca Raton with his two Jack Russell Terriers, Spot and Lucky.
From the largest task to the smallest request, Phil works diligently to exceed client expectations. His primary responsibilities include ensuring client account information is up to date, and performing operational tasks that support Steve, Jeff and Mike in the day-to-day management of their wealth management practice.
Phil joined Morgan Stanley in 2021 and maintains his Series 7 FINRA license. He also has his Life, Health and Variable Annuity License.
Born and raised in New York, Phil has worked for over 40 years at various Brokerage firms including, Drexel Burnham, Fidelity, ABN Amro, UBS and Societe Generale to name a few. Phil moved to Florida in 2016. He now lives in Boca Raton with his two Jack Russell Terriers, Spot and Lucky.
About Casey Prisco
Casey works directly with clients, addressing a wide range of administrative requests and offering knowledgeable support on their behalf. Prior to joining Morgan Stanley, Casey worked at Merrill Lynch and Deutsche Bank gaining experience in financial services. Passionate about traveling, the beach, and her pets.
Casey was born in Chattanooga, TN but grew up in Jacksonville, FL. She attended UNF & double majored in Finance & Financial Services and was a member of the Finance & Investment Society. Casey and her husband of 24 years call Fort Lauderdale home since 2018
Casey was born in Chattanooga, TN but grew up in Jacksonville, FL. She attended UNF & double majored in Finance & Financial Services and was a member of the Finance & Investment Society. Casey and her husband of 24 years call Fort Lauderdale home since 2018
Contact Steve Kaufman
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The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
John Fanning
Senior Private Banker
About John Fanning
John Fanning is a Private Banker serving Morgan Stanley Wealth Management offices in Florida.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
John began his career in financial services in 1992, and joined Morgan Stanley in 2010 as a Financial Advisor. Prior to joining the firm, he was a Commercial Banker at SunTrust Bank (now Truist Bank) and Bank United. He also also served as a Finance Manager at Merrill Lynch Business Financial Services.
John is a graduate of Florida Atlantic University, where he received a Bachelor of Science in Finance. He lives in Fort Lauderdale, Florida with his family. Outside of the office, John enjoys coaching and watching his sons excel in sports, spending time with family and friends, and cheering on all South Florida sports team.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
John began his career in financial services in 1992, and joined Morgan Stanley in 2010 as a Financial Advisor. Prior to joining the firm, he was a Commercial Banker at SunTrust Bank (now Truist Bank) and Bank United. He also also served as a Finance Manager at Merrill Lynch Business Financial Services.
John is a graduate of Florida Atlantic University, where he received a Bachelor of Science in Finance. He lives in Fort Lauderdale, Florida with his family. Outside of the office, John enjoys coaching and watching his sons excel in sports, spending time with family and friends, and cheering on all South Florida sports team.
NMLS#: 803783
Wealth Management
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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 Kaufman Millikin Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
4Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
5When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
6Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
7Morgan 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.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Morgan 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.
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Awards Disclosures
1Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
4Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
5When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
6Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
7Morgan 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.
8When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Morgan 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
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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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
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The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
CRC 6491812 (04/2024)
