Samuel C. Kenary, CPWA®
Managing Director, Wealth Management, Financial Advisor, Family Wealth Director, Senior Portfolio Management Director, Alternative Investments Director
Phone:
(508) 751-5612(508) 751-5612
The Kenary Wealth Management Group at Morgan Stanley
Direct:
(508) 751-5658(508) 751-5658
Our Mission Statement
Support and strengthen the financial lives of our clients and their families with the four pillars of Wealth Management: Service, Financial Planning, Investment Management, and Financial Education.
A LETTER FROM SAM AND JIM:
Thank you for visiting The Kenary Wealth Management Group's website. We appreciate the opportunity to engage with you and share the resources we have assembled for you; we hope you find them valuable and informative.
The Kenary family has been in the wealth management business for four generations. Over the past 100+ years, we have been fortunate to work closely with multiple generations of our clients' families.
Our mission is to support and strengthen the financial lives of our clients and their families with the four pillars of Wealth Management: Service, Financial Planning, Investment Management, and Financial Education. Our process is designed to proactively provide you with the guidance and resources you need to achieve your financial goals.
We invite current clients to visit the "For Clients" tab where we highlight some of the key resources available to you. If you are new to our website and would like to learn more about the services we provide, please visit the "For Prospective Clients" tab.
We look forward to the important work that we will do together to achieve your financial goals. As always, we are just a phone call away: 508-751-5658.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our History
In Focus
Seasonal topics and timely trends in the world of business & finance
Donor Advised Funds (DAF)
A solution that may help you execute planned giving, offer an efficient way to donate complex and illiquid assets, and simplify charitable giving reporting while potentially mitigating taxes. Bring philanthropy into your wealth plan and help amplify the impact of your giving through the Morgan Stanley Global Impact Funding Trust (MS GIFT).
MS GIFT
Helping a Loved One Buy a Home
High home prices and mortgage rates are putting the dream of homeownership out of reach for many would-be buyers. Learn how you can help a loved one break into a tough market.
Ways to Help With a Home Purchase
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
Total Tax 365
Taxes can be a substantial drag on investment returns. Morgan Stanley Total Tax 365 offers access to a broad range of tax-efficient strategies to help you integrate tax planning into your investment process all year long, maximize portfolio after-tax return potential, manage unrealized gains and help keep more of what you earn.
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Are You Prepared for Tax Day?
The countdown to Tax Day has begun. Here are some strategies to consider as the deadline approaches.
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Global Investment Office
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Morgan Stanley Portfolio InsightsFor Clients
Helpful resources for our valued clients
Financial Planning Matters
We host a monthly webinar series that addresses a variety of topics relevant to financial planning and investment management. Please join us on the second Tuesday of every month, from 11:30am - 12:00pm ET. An invitation will be sent in advance of each webinar, but please contact our team with any questions.
Morgan Stanley Online (MSO)
Beyond viewing your account balance and activity, MSO has a suite of features that allow you to manage your everyday finances, from paying bills and sending money to transferring funds and authorizing transactions with eAuthorization.
Login or Register for MSO
Total Wealth View
Through Morgan Stanley Online, Total Wealth View (TWV) gives you the ability to link and manage multiple financial accounts from different firms all in one place. This will allow you to conveniently see your entire wealth picture, analyze cash flows, and benefit from more informed wealth planning.
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Digital Vault
Digital Vault allows for easy sharing and access to your most important documents, from wills and deeds to financial statements and tax filings. Easily manage your encrypted financial records all in one place.
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Safeguarding Your Assets
Morgan Stanley invests considerable funds and resources every year in the development, maintenance, and enhancement of programs and processes to protect your assets and personal information.
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Reserved Living & Giving
Morgan Stanley's loyalty program allows eligible clients access to exclusive offers and discounts from over 70 premium brands at no cost.
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Family Office Resources
Our team partners closely with Morgan Stanley Family Office Resources to deliver specialized, technical expertise to select clients across a broad range of family wealth management issues. Our core capabilities span three complimentary areas of focus including Governance & Legacy, Wealth Strategies, and Signature Access.
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Cash Management and Lending Solutions
For your family and your business. We offer unique cash management and lending solutions to complement your investments and help simplify your finances.
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2026 Federal Tax Tables
This document outlines the 2026 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information.
View 2026 Federal Tax RatesFor Prospects
People often ask us how we support our clients. The spectrum of our services is wide; however, we're confident that, whatever your needs or questions are, our team is equipped to help. Below is just a sample of questions that we work to address with our clients. We encourage you to click on the "Questions We Help You Answer" link so you can see a more expansive list of what we often encounter when engaging with a new client.
- Are we on track with our finances? Are other families like ours doing anything different, that we should be considering?
- I just had a major life event (marriage, childbirth, divorce, loss). What do I need to be thinking about now?
- I'd like a second opinion of my current Investment Portfolio. Could my investments be better balanced? Is there a way to make my investments more tax efficient? Are my investments appropriate given my objectives?
- How should I think about setting financial goals for my family?
- I own a private business/ real estate holdings/ company stock options. Should this factor into my investment portfolio allocation?
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
100 Front St
15th Fl
Worcester, MA 01608
US
Direct:
(508) 751-5658(508) 751-5658
28 State Street
33rd Fl
Boston, MA 02109
US
Direct:
(508) 751-5658(508) 751-5658
112 Worcester Street
Wellesley, MA 02481
US
Direct:
(508) 751-5658(508) 751-5658
Meet The Kenary Wealth Management Group
James B. Kenary, CFP®, CIMA®
Managing Director, Wealth Management, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Senior Portfolio Management Director, Alternative Investments Director
Phone:
(508) 751-5610(508) 751-5610
Hannah Kenary Goode
Financial Advisor, Financial Planning Specialist
Phone:
(508) 751-5650(508) 751-5650
Emily Kenary
Portfolio Associate, Financial Planning Associate
Phone:
(508) 751-5651(508) 751-5651
Kathleen Jones
Assistant Vice President, Wealth Management Associate
Phone:
(508) 751-5622(508) 751-5622
Victoria Palmer
Client Service Associate
Phone:
(508) 751-5658(508) 751-5658
About Samuel C. Kenary
Sam leads the Kenary Wealth Management Group's financial planning practice at Morgan Stanley, serving high-net-worth individuals, families, charitable foundations, and family offices.
The Kenary Wealth Management Group is a $2B+ AUM (as of 12/2025) Morgan Stanley Wealth Management team with clients across New England, New York, Washington, D.C., Los Angeles, Texas, Florida, and the Midwest.
Collaborating closely with clients - as well as their accountants, attorneys, and Morgan Stanley's Family Office Resources team - Sam develops comprehensive wealth management strategies tailored to each client's objectives. His work spans intergenerational wealth transfer, philanthropic advisory, concentrated stock management, retirement planning, education funding, and portfolio construction.
A graduate of Harvard University, Sam joined Morgan Stanley in 2009. He holds Morgan Stanley's Family Wealth Director designation and the Certified Private Wealth Advisor® (CPWA®) certification through the Investments & Wealth Institute® at the University of Chicago Booth School of Business. These programs emphasize advanced, integrated planning for ultra-high-net-worth families.
Sam has also served as an associate faculty member for the Investments & Wealth Institute® CPWA® program, mentoring candidates on tax strategies, portfolio management, executive compensation, retirement planning, charitable giving, and estate planning.
Clients who work with Sam benefit from seamless access to Morgan Stanley's full institutional platform, including Family Office Resources, banking and lending solutions, the Investment Bank, third-party partners, and proprietary capital-markets capabilities.
Outside of the office, Sam is an Eagle Scout, a former member of the Harvard Heavyweight Rowing Team, and the founder of November Project Worcester - a grassroots fitness community he led for five years.
He lives in Massachusetts with his wife, Sarah, and their children. As a family, they enjoy gardening, reading, golf, and spending time outdoors.
The Kenary Wealth Management Group is a $2B+ AUM (as of 12/2025) Morgan Stanley Wealth Management team with clients across New England, New York, Washington, D.C., Los Angeles, Texas, Florida, and the Midwest.
Collaborating closely with clients - as well as their accountants, attorneys, and Morgan Stanley's Family Office Resources team - Sam develops comprehensive wealth management strategies tailored to each client's objectives. His work spans intergenerational wealth transfer, philanthropic advisory, concentrated stock management, retirement planning, education funding, and portfolio construction.
A graduate of Harvard University, Sam joined Morgan Stanley in 2009. He holds Morgan Stanley's Family Wealth Director designation and the Certified Private Wealth Advisor® (CPWA®) certification through the Investments & Wealth Institute® at the University of Chicago Booth School of Business. These programs emphasize advanced, integrated planning for ultra-high-net-worth families.
Sam has also served as an associate faculty member for the Investments & Wealth Institute® CPWA® program, mentoring candidates on tax strategies, portfolio management, executive compensation, retirement planning, charitable giving, and estate planning.
Clients who work with Sam benefit from seamless access to Morgan Stanley's full institutional platform, including Family Office Resources, banking and lending solutions, the Investment Bank, third-party partners, and proprietary capital-markets capabilities.
Outside of the office, Sam is an Eagle Scout, a former member of the Harvard Heavyweight Rowing Team, and the founder of November Project Worcester - a grassroots fitness community he led for five years.
He lives in Massachusetts with his wife, Sarah, and their children. As a family, they enjoy gardening, reading, golf, and spending time outdoors.
Securities Agent: AZ, MT, TX, PA, MO, IL, DE, WI, NJ, CO, WA, SD, NC, VA, LA, IN, CA, VT, SC, NY, MI, HI, OH, MD, AK, NH, ME, MA, GA, FL, CT, WY, UT, RI, IA; General Securities Representative; Investment Advisor Representative
NMLS#: 1278750
NMLS#: 1278750
About James B. Kenary
For more than 20 years, Jim has assisted individuals and families in navigating important financial decisions with clarity and confidence. His work is rooted in the Kenary Wealth Management Group's core belief that lasting wealth is built through disciplined long-term investing, comprehensive financial planning, and consistently delivered trusted advice.
Jim collaborates closely with clients, their families, and their professional advisors to coordinate the many decisions involved in building, preserving, and transferring wealth. Whether planning for retirement, preparing future generations, navigating a liquidity event, or creating a lasting legacy, he utilizes the extensive resources and intellectual capital of Morgan Stanley to help families simplify complexity, focus on long-term stewardship and capital compounding, and make informed decisions with confidence.
Jim graduated from Harvard University and holds both the CERTIFIED FINANCIAL PLANNER™ and Certified Investment Management Analyst® (CIMA®) designations, having completed the CIMA® executive education program through the Yale School of Management.
He resides in Wellesley, Massachusetts, with his wife, Blair, and their three children. Outside the office, Jim enjoys spending time with his family, being outdoors, and working on projects around the home and yard.
Jim collaborates closely with clients, their families, and their professional advisors to coordinate the many decisions involved in building, preserving, and transferring wealth. Whether planning for retirement, preparing future generations, navigating a liquidity event, or creating a lasting legacy, he utilizes the extensive resources and intellectual capital of Morgan Stanley to help families simplify complexity, focus on long-term stewardship and capital compounding, and make informed decisions with confidence.
Jim graduated from Harvard University and holds both the CERTIFIED FINANCIAL PLANNER™ and Certified Investment Management Analyst® (CIMA®) designations, having completed the CIMA® executive education program through the Yale School of Management.
He resides in Wellesley, Massachusetts, with his wife, Blair, and their three children. Outside the office, Jim enjoys spending time with his family, being outdoors, and working on projects around the home and yard.
Securities Agent: DC, MT, OH, WA, TX, TN, PA, GA, AK, WV, NH, NC, MO, IN, AZ, OR, NJ, FL, LA, IA, HI, VA, SD, KS, IL, WI, MI, WY, UT, SC, DE, CO, CA, VT, RI, MA, CT, ME, MD, NY; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1278670
NMLS#: 1278670
About Hannah Kenary Goode
Hannah joined The Kenary Wealth Management Group in 2022. In her role as Financial Advisor, Hannah focuses on implementing strategies that help clients reach their financial goals. She is particularly passionate about guiding women to financial confidence and independence.
Hannah also serves as the Team’s Director of Operations, overseeing day-to-day activities and large-scale initiatives to ensure resources are allocated in the most efficient and productive manner, in service to our clients.
Prior to joining Morgan Stanley, Hannah worked for 11 years at The Baupost Group where she was Manager of the Investor Services team. She graduated from Wellesley College and holds her Series 7 and Series 66 Licenses. Hannah lives in Weston with her husband, Rick, and their children. Outside of the office, she enjoys spending time with her family, golfing, gardening, and volunteering her time to the Weston Children’s Association.
Hannah also serves as the Team’s Director of Operations, overseeing day-to-day activities and large-scale initiatives to ensure resources are allocated in the most efficient and productive manner, in service to our clients.
Prior to joining Morgan Stanley, Hannah worked for 11 years at The Baupost Group where she was Manager of the Investor Services team. She graduated from Wellesley College and holds her Series 7 and Series 66 Licenses. Hannah lives in Weston with her husband, Rick, and their children. Outside of the office, she enjoys spending time with her family, golfing, gardening, and volunteering her time to the Weston Children’s Association.
Securities Agent: IL, NY, MT, NJ, LA, AZ, WY, VA, SC, NC, MD, CO, WA, UT, PA, CT, CA, MO, MI, HI, GA, FL, VT, RI, WI, IN, IA, DE, AK, OH, TX, ME, NH, MA, SD; General Securities Representative; Investment Advisor Representative
NMLS#: 2472663
NMLS#: 2472663
About Emily Kenary
Emily coordinates and implements the service offering for our Group's Financial Planning and Investment Advisory business segments. In this role, she manages client communications, monitors client accounts, and partners closely with the advisors to ensure that portfolio strategies remain aligned with each client's objectives. She also assists clients in leveraging Morgan Stanley's suite of digital tools, to ensure that they benefit from Morgan Stanley's comprehensive client website, mobile app, and online virtual planning tools.
Emily began her career in wealth management in Springfield, MA in 2008, and joined The Kenary Wealth Management Group in 2013. She holds a B.F.A. in Photography & Electronic Imaging from the University of Massachusetts Dartmouth. Outside the office, Emily enjoys photography, gardening, and spending time outdoors with her husband and their cats.
Emily began her career in wealth management in Springfield, MA in 2008, and joined The Kenary Wealth Management Group in 2013. She holds a B.F.A. in Photography & Electronic Imaging from the University of Massachusetts Dartmouth. Outside the office, Emily enjoys photography, gardening, and spending time outdoors with her husband and their cats.
About Kathleen Jones
Kathleen brings more than 25 years of experience in financial services to The Kenary Wealth Management Group. As a Wealth Management Associate, she plays a critical role in delivering the team's high-touch service model. Kathleen oversees client onboarding, account administration, and ongoing relationship management, ensuring that each client experience is seamless and personalized.
Her extensive industry background allows Kathleen to anticipate client needs, coordinate complex service requests, and support the team's comprehensive wealth management and financial planning efforts.
Prior to joining The Kenary Wealth Management Group in 2023, Kathleen served as a Senior Client Associate at Bank of America Merrill Lynch in Boston. She earned her B.A. in Political Science from Boston University and lives in Holden, MA with her husband and their son.
Her extensive industry background allows Kathleen to anticipate client needs, coordinate complex service requests, and support the team's comprehensive wealth management and financial planning efforts.
Prior to joining The Kenary Wealth Management Group in 2023, Kathleen served as a Senior Client Associate at Bank of America Merrill Lynch in Boston. She earned her B.A. in Political Science from Boston University and lives in Holden, MA with her husband and their son.
About Victoria Palmer
Victoria joined The Kenary Wealth Management Group in 2026 as a Client Service Associate. In this role, she works closely with Kathleen and Emily to help deliver the team's high-touch client experience and support a wide range of day-to-day client needs. Victoria assists with client profile management, meeting coordination, and review preparation, helping ensure every client interaction is seamless and productive.
Prior to joining Morgan Stanley, Victoria held admissions and enrollment leadership positions, most recently at Clark University and UMass Chan Medical School. Her experience guiding individuals through important life decisions, combined with her commitment to exceptional client care, makes her a valuable resource for the team's clients and their families.
Victoria earned a bachelor's degree in Applied Psychology and Human Development from Boston College, where she also received her Master of Arts in Higher Education Administration. She lives in Shrewsbury and enjoys staying active through fitness, participating in local sports leagues, and building connections within the local community.
Prior to joining Morgan Stanley, Victoria held admissions and enrollment leadership positions, most recently at Clark University and UMass Chan Medical School. Her experience guiding individuals through important life decisions, combined with her commitment to exceptional client care, makes her a valuable resource for the team's clients and their families.
Victoria earned a bachelor's degree in Applied Psychology and Human Development from Boston College, where she also received her Master of Arts in Higher Education Administration. She lives in Shrewsbury and enjoys staying active through fitness, participating in local sports leagues, and building connections within the local community.
Contact Samuel C. Kenary
Contact James B. Kenary
Contact Hannah Kenary Goode
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
Richard Land
Private Banker
Brendan McGovern
Planning Associate
About Richard Land
Richard D. Land is a Private Banker serving Morgan Stanley Wealth Management offices in Massachusetts and Connecticut.
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.
Richard began his career in financial services in 2004 and joined Morgan Stanley in 2019 as an Associate Private Banker. He was promoted to Private Banker in 2022. Prior to joining Morgan Stanley, Richard was a Managing Director at Fieldpoint Private Bank and Trust. He also served as an Ultra High Net Worth Associate Private Banker at Citi Private Bank. Richard was a Business Banking Officer, and Personal Banker at Citibank N.A.
Richard is a graduate of Saint Michael’s College, where he received a Bachelor of Arts in Political Science with a concentration in Economics. He lives in Windham, New Hampshire with his family. Outside the office, Richard enjoys staying active outdoors, fishing, snowboarding, camping, hunting, and traveling.
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.
Richard began his career in financial services in 2004 and joined Morgan Stanley in 2019 as an Associate Private Banker. He was promoted to Private Banker in 2022. Prior to joining Morgan Stanley, Richard was a Managing Director at Fieldpoint Private Bank and Trust. He also served as an Ultra High Net Worth Associate Private Banker at Citi Private Bank. Richard was a Business Banking Officer, and Personal Banker at Citibank N.A.
Richard is a graduate of Saint Michael’s College, where he received a Bachelor of Arts in Political Science with a concentration in Economics. He lives in Windham, New Hampshire with his family. Outside the office, Richard enjoys staying active outdoors, fishing, snowboarding, camping, hunting, and traveling.
NMLS#: 722158
About Brendan McGovern
Brendan McGovern is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Financial Advisors and their teams. Operating as an extension of the FA/Team, he collaborates with clients to discover and define the goals that matter most to them. Leveraging state of the art technology, he will evaluate various options and their potential outcomes to help clients confidently choose the appropriate course of action. Brendan provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
He earned his undergraduate degree from the University of Miami and received the Financial Planning Specialist® designation from the College for Financial Planning. Brendan is originally from Berkeley Heights, New Jersey where he currently resides.
He earned his undergraduate degree from the University of Miami and received the Financial Planning Specialist® designation from the College for Financial Planning. Brendan is originally from Berkeley Heights, New Jersey where he currently resides.
About Victor Diune
Victor Diune is a Family Office Resources Generalist for Morgan Stanley’s Family Office Resources, covering the Northeast Region. In this capacity, Victor provides specialized expertise to Financial Advisors and their UHNW clients across a broad range of family wealth management issues including; family governance and wealth education, strategic estate and financial planning, philanthropy management and lifestyle advisory. Victor has over 20 years of experience advising wealthy families, business owners, and their children.
Victor has spent the last 22 years at Bank of America/Merrill Lynch. Most recently, he was a Director, Wealth Strategist, working with Merrill Private Wealth Advisors and Financial Advisors, along with their UHNW clients advising them on estate and legacy planning, wealth transfer strategies and philanthropic planning. He was also responsible for developing, consulting and implementing business succession plans as well as providing advice on fiduciary investment management and tax reduction strategies.
Victor received a Bachelor of Arts degree in Political Science from University of Illinois in Urbana-Champaign, received his JD/MBA degree from Suffolk University Law School/Sawyer School of Management, and his LLM in Tax from Boston University School of Law. He holds a Series 7 and 66 securities licenses. He currently lives in Hopkinton, MA with his wife and their 4 children.
Victor has spent the last 22 years at Bank of America/Merrill Lynch. Most recently, he was a Director, Wealth Strategist, working with Merrill Private Wealth Advisors and Financial Advisors, along with their UHNW clients advising them on estate and legacy planning, wealth transfer strategies and philanthropic planning. He was also responsible for developing, consulting and implementing business succession plans as well as providing advice on fiduciary investment management and tax reduction strategies.
Victor received a Bachelor of Arts degree in Political Science from University of Illinois in Urbana-Champaign, received his JD/MBA degree from Suffolk University Law School/Sawyer School of Management, and his LLM in Tax from Boston University School of Law. He holds a Series 7 and 66 securities licenses. He currently lives in Hopkinton, MA with his wife and their 4 children.
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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 consult with your Financial Advisor to understand these differences.
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, charitable giving, philanthropic planning and other legal matters.
When 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.
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.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
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
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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 consult with your Financial Advisor to understand these differences.
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, charitable giving, philanthropic planning and other legal matters.
When 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.
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.
Wealth Management
Global Investment Office
Portfolio Insights
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Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
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Financial Planning for Life After Selling a Business
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Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
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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:
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- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Kenary Wealth Management 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 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.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
3When 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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan 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*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards 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 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.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
3When 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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan 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*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards 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.
CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
