Jonathan E Klausner
Managing Director, Wealth Management, Financial Advisor
Phone:
(317) 818-7374(317) 818-7374
The Klausner Duffy DiSalvo Investment Group at Morgan Stanley
Jonathan E KlausnerJohn M DuffyDerek E DiSalvoMatthew Henning, CFP®, CEPA®Justin Klausner, CFP®Jennifer MargasonCaryn WilkinsonCarly Taylor
Direct:
(317) 818-7300(317) 818-7300
Toll-Free:
(888) 930-0159(888) 930-0159
Our Mission Statement
We are focused on working with our clients and their families in the accumulation and preservation of capital. We are widely recognized as being industry leaders in our ability to help solve complex financial situations to achieve an objective.
Welcome
The Klausner Duffy DiSalvo Investment Group has a long-standing history of serving high-net-worth individuals, families, and institutions, with roots dating back to 1958. The firm’s legacy began when Jack Klausner launched his career as a Financial Advisor with Thompson McKinnon, Inc., building a practice grounded in integrity, discipline, and exceptional client service. His son, Daniel Klausner, joined the business in 1986, and together they formally established a multi-generational advisory team in 1988.
Following Thompson McKinnon’s acquisition by Prudential-Bache, Jonathan joined the team in 1992 after beginning his career in Atlanta, Georgia, with the same firm. In 1997, the team began working closely with John Duffy, who was already developing a successful wealth management practice in the Indianapolis area. John brought a fresh perspective and a strong focus on attracting and serving high-quality client relationships. The teams fully merged in 2000 and spent the next 11 years at UBS Financial Services Inc., during which time both Jack and Daniel retired from the business.
During this period, Derek DiSalvo completed UBS’s rigorous advisory training programs in Detroit and Los Angeles before joining the team in Indianapolis. His addition further strengthened the group’s depth of experience and long-term succession planning.
Today, the team consists of five advisors: John Duffy, Jonathan Klausner, Derek DiSalvo, Justin Klausner and Matt Henning. Justin joined the team after beginning his career in Denver with Janus Henderson Group, where he obtained his CERTIFIED FINANCIAL PLANNER® designation. In 2024, Matt Henning joined the Klausner Duffy DiSalvo Investment Group, bringing a differentiated background that includes experience at the Chicago Board of Trade and extensive work in alternative investments.
Together, the team works collaboratively to deliver customized wealth management strategies for high-net-worth clients, overseeing approximately $3.5 billion in client assets under custody as of 02/20/2026.
The team is supported by a seasoned, client-focused professional staff, including Kailynn Grieve, Jenny Margason, Caryn Wilkinson, and Carly Taylor, who collectively bring nearly 50 years of service to the Klausner Duffy & DiSalvo Investment Group. Their experience helps ensure a high level of responsiveness, continuity, and operational excellence for clients.
The Klausner Duffy & DiSalvo Investment Group at Morgan Stanley has been recognized for its leadership and consistency in wealth management.
Following Thompson McKinnon’s acquisition by Prudential-Bache, Jonathan joined the team in 1992 after beginning his career in Atlanta, Georgia, with the same firm. In 1997, the team began working closely with John Duffy, who was already developing a successful wealth management practice in the Indianapolis area. John brought a fresh perspective and a strong focus on attracting and serving high-quality client relationships. The teams fully merged in 2000 and spent the next 11 years at UBS Financial Services Inc., during which time both Jack and Daniel retired from the business.
During this period, Derek DiSalvo completed UBS’s rigorous advisory training programs in Detroit and Los Angeles before joining the team in Indianapolis. His addition further strengthened the group’s depth of experience and long-term succession planning.
Today, the team consists of five advisors: John Duffy, Jonathan Klausner, Derek DiSalvo, Justin Klausner and Matt Henning. Justin joined the team after beginning his career in Denver with Janus Henderson Group, where he obtained his CERTIFIED FINANCIAL PLANNER® designation. In 2024, Matt Henning joined the Klausner Duffy DiSalvo Investment Group, bringing a differentiated background that includes experience at the Chicago Board of Trade and extensive work in alternative investments.
Together, the team works collaboratively to deliver customized wealth management strategies for high-net-worth clients, overseeing approximately $3.5 billion in client assets under custody as of 02/20/2026.
The team is supported by a seasoned, client-focused professional staff, including Kailynn Grieve, Jenny Margason, Caryn Wilkinson, and Carly Taylor, who collectively bring nearly 50 years of service to the Klausner Duffy & DiSalvo Investment Group. Their experience helps ensure a high level of responsiveness, continuity, and operational excellence for clients.
The Klausner Duffy & DiSalvo Investment Group at Morgan Stanley has been recognized for its leadership and consistency in wealth management.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
OUR SUITE OF SERVICES
As your wealth grows, so do its complexities and the resources needed to manage it effectively. We leverage our experience and relationships to deliver strategies tailored to meet all of your needs. We look forward to speaking with you to understand your challenges, so we may map out a strategy to achieve your particular priorities and goals.
High-Net-Worth Wealth and Retirement Planning
We assist high-net-worth individuals and families evaluate wealth and retirement considerations and develop a plan aligned with their goals, cashflow needs, and risk profile.
Customized Portfolio Solutions and Capital Markets Capabilities
We work with clients to design and monitor portfolios. We discuss and craft capital markets strategies consistent with their specific objectives and needs.
Institutional Portfolio and Cash Management Solutions
We support institutions with portfolio construction and liquidity/cash management approaches designed to address operating needs, policy guidelines, and risk parameters.
Estate and Generational Wealth Transfer Planning Strategies
We help clients consider estate planning and wealth transfer approaches and coordinate with their attorneys and tax advisors to align strategies with their broader plan. We meet with and provide resources to the next generations, to provide continuity and a seamless transfer of wealth.
Collateralized Lending Solutions
We discuss lending options that may allow eligible clients to access liquidity using certain assets as collateral, subject to underwriting, terms, and associated risks.
Digital Tools
Morgan Stanley is at the forefront of technology in the financial services industry. As a part of our services, these resources are readily available for our clients to utilize.
Morgan Stanley Online
Your investments and everyday finances are always just a few clicks away with Morgan Stanley Online (MSO) and the Morgan Stanley Mobile App.
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LifeView Intelligent Planning
LifeView provides progress-to-goals reporting and can also illustrate complex planning strategies such as methods of stock option exercise, Roth conversions and 401k early distributions.
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Online Security Center
At Morgan Stanley, safeguarding your assets and personal information is amongst our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
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Reserved Living & Giving
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's clients. The program is designed to enhance your lifestyle and relationship with the firm beyond traditional wealth management services.
Learn More About MS Reserved
Total Wealth View
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind.
Learn More About Total Wealth ViewMonthly Updates
We have linked resources for clients and prospects with the latest insights and events information available to be better informed in the current marketplace.
GIC On The Markets
The Global Investment Committee's Michael Wilson provides insightful commentary on the markets while covering key areas to help investors with the financial landscape.
Read Here
Replay Now Available | Midyear Economic & Investment Outlook
In case you missed it, we invite you to watch the replay from our Midyear Economic and Investment Outlook with Morgan Stanley thought leaders and strategists.
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Iran Conflict: Seven Takeaways for Investors
Prolonged conflict with Iran could lead to higher oil prices, hotter inflation and greater market uncertainty.
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What Is Cryptocurrency? A Guide to Cryptocurrency Investing and Risks
Learn what cryptocurrency is, how to invest and its risks.
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Thoughts on the Market Podcast
Short, thoughtful takes on recent events in the markets, every weekday from a variety of perspectives within Morgan Stanley.
Listen NowAWARD-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
800 East 96 St
Ste 400
Indianapolis, IN 46240
US
Direct:
(317) 818-7300(317) 818-7300
Toll-Free:
(888) 930-0159(888) 930-0159
Meet The Klausner Duffy DiSalvo Investment Group
John M Duffy
Managing Director, Wealth Management, Financial Advisor
Phone:
(317) 818-7378(317) 818-7378
Derek E DiSalvo
Executive Director, Wealth Management, Financial Advisor
Phone:
(317) 818-7380(317) 818-7380
Phone:
(317) 818-7423(317) 818-7423
Phone:
(317) 818-7403(317) 818-7403
Jennifer Margason
Business Development Associate, Financial Planning Specialist
Phone:
(317) 818-7399(317) 818-7399
Caryn Wilkinson
Business Development Associate, Financial Planning Specialist
Phone:
(317) 818-7388(317) 818-7388
Carly Taylor
Registered Client Relationship Analyst
Phone:
(317) 818-7373(317) 818-7373
Kailynn Grieve
Client Relationship Analyst
About Jonathan E Klausner
Jonathan began his career in the financial services industry in Atlanta, Georgia, in 1990 with Prudential-Bache. He brings more than three decades of experience advising clients through a wide range of market environments and economic cycles. Prior to joining Morgan Stanley, Jonathan served as Senior Vice President – Investments at UBS Financial Services Inc.
Jon is currently a Managing Director at Morgan Stanley. His areas of focus include constructing highly customized investment strategies, seeking to preserve and transfer wealth across multiple generations, executive compensation planning, and institutional cash management. He advises ultra-high-net-worth individuals, families, and institutions, delivering comprehensive long-term strategies designed to help address complex balance sheets, liquidity events, and evolving legacy objectives. His approach emphasizes disciplined investment management, thoughtful risk management strategies, and comprehensive coordination across all aspects of a client’s financial life.
Jonathan has been consistently recognized for excellence in wealth management, having been named one of Barron’s Top 1,200 Financial Advisors Nationwide from 2014 to 2024.
Jon earned a Bachelor of Science degree in Economics from Indiana University–Bloomington. He resides in Carmel, Indiana, with his wife, Heidi. Jon and Heidi have three children Justin (Meghan and Grandson Jules), Samantha (Jake) Davis, and Madison.
2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2014-2024). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
For more information on the ranking methodology for the award(s) listed, go to https://www.morganstanley.com/disclosures/awards-disclosure.html
Jon is currently a Managing Director at Morgan Stanley. His areas of focus include constructing highly customized investment strategies, seeking to preserve and transfer wealth across multiple generations, executive compensation planning, and institutional cash management. He advises ultra-high-net-worth individuals, families, and institutions, delivering comprehensive long-term strategies designed to help address complex balance sheets, liquidity events, and evolving legacy objectives. His approach emphasizes disciplined investment management, thoughtful risk management strategies, and comprehensive coordination across all aspects of a client’s financial life.
Jonathan has been consistently recognized for excellence in wealth management, having been named one of Barron’s Top 1,200 Financial Advisors Nationwide from 2014 to 2024.
Jon earned a Bachelor of Science degree in Economics from Indiana University–Bloomington. He resides in Carmel, Indiana, with his wife, Heidi. Jon and Heidi have three children Justin (Meghan and Grandson Jules), Samantha (Jake) Davis, and Madison.
2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2014-2024). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
For more information on the ranking methodology for the award(s) listed, go to https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: HI, FL, AL, WI, TX, TN, OH, IA, PA, OR, IL, GA, NY, MN, CT, OK, NH, MD, KY, CO, AZ, MT, LA, DC, NV, NC, MA, DE, CA, WA, SC, MO, MI, VA, NM, IN, UT, NJ, ND; General Securities Representative; Investment Advisor Representative
NMLS#: 1274565
NMLS#: 1274565
About John M Duffy
John brings to his Morgan Stanley clients, over 32 years of investment brokerage and asset management experience. During his career, he has worked with affluent and emerging affluent families and individuals in the development and implementation of customized investment portfolios to help meet their specific needs. Areas of concentration include bond portfolio structuring and management; stock and option portfolio management; hedging and liquidation strategies for concentrated equity positions, and general investment needs.
John is a graduate of the University of Indianapolis earning a degree in Business and Communications. He served on the Board of Bishop Simon Brute Seminary for 11 years, the last 4 as Board Chair. He has been a Cabinet Member for the last two 100mm+ Archdiocesan Capital Campaigns and served as Athletic Director for St. Simon for 4 years. Presently he serves as President for the Indiana High School Lacrosse Association.
John and his wife Melissa live in Indianapolis, IN and have three children, Lauren, Martin and Michael.
John, a Managing Director for Morgan Stanley, has been listed as a Barron's Top 1,200 Financial Advisors Nationally every year since 2014. John also serves on the prestigious Financial Advisor Council for the Firm, a group of 16 Advisors that work directly with Senior Management on Firm initiatives.
2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2014-2024). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
The investments listed may not be appropriate for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment will depend upon an investor's individual circumstances and objectives.
John is a graduate of the University of Indianapolis earning a degree in Business and Communications. He served on the Board of Bishop Simon Brute Seminary for 11 years, the last 4 as Board Chair. He has been a Cabinet Member for the last two 100mm+ Archdiocesan Capital Campaigns and served as Athletic Director for St. Simon for 4 years. Presently he serves as President for the Indiana High School Lacrosse Association.
John and his wife Melissa live in Indianapolis, IN and have three children, Lauren, Martin and Michael.
John, a Managing Director for Morgan Stanley, has been listed as a Barron's Top 1,200 Financial Advisors Nationally every year since 2014. John also serves on the prestigious Financial Advisor Council for the Firm, a group of 16 Advisors that work directly with Senior Management on Firm initiatives.
2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2014-2024). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
The investments listed may not be appropriate for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment will depend upon an investor's individual circumstances and objectives.
Securities Agent: HI, GA, MT, PA, FL, NM, NC, MD, IN, DC, CT, UT, WA, NV, NH, MA, KY, CO, AL, TX, MO, IA, DE, WI, TN, OR, VA, OH, NJ, ND, AZ, SC, CA, MN, MI, WV, OK, NY, LA, IL; General Securities Representative; Investment Advisor Representative
NMLS#: 1279071
NMLS#: 1279071
About Derek E DiSalvo
Derek began his career at UBS Financial Services, Inc. in 2007 as part of the firm’s Associate Program. Early in his career, he developed a strong foundation in capital markets through hands-on work as a Municipal Bond Analyst & Junior Trader, where he gained experience in stock and bond portfolio construction, portfolio risk management, cash-flow modeling, and financial forecasting. Derek joined the team in 2010 and, in 2014, became one of the lead advisors of the Klausner Duffy & DiSalvo Investment Group alongside Jon Klausner and John Duffy.
In his role as a senior advisor, Derek supports families, executives, and business owners with retirement planning, long-term wealth strategies, and unique capital needs such as liquidity events, concentrated stock positions, and complex financial scenarios. His focus areas include asset allocation, multigenerational planning, executive compensation strategies, lending solutions, and business-succession planning. He plays a central role in the team’s financial reviews, risk assessments, and portfolio implementation.
A graduate of Miami University in Oxford, Ohio, Derek earned a Bachelor’s Degree in Business Finance with minors in Economics and Psychology.
Outside of the office, Derek is actively involved in several philanthropic and community organizations throughout the Indianapolis area, with a particular focus on youth development and family support initiatives. He, his wife Brittany, and their four sons—Brecken, Callum, Hayes, and Holden—reside in Indianapolis, IN.
In his role as a senior advisor, Derek supports families, executives, and business owners with retirement planning, long-term wealth strategies, and unique capital needs such as liquidity events, concentrated stock positions, and complex financial scenarios. His focus areas include asset allocation, multigenerational planning, executive compensation strategies, lending solutions, and business-succession planning. He plays a central role in the team’s financial reviews, risk assessments, and portfolio implementation.
A graduate of Miami University in Oxford, Ohio, Derek earned a Bachelor’s Degree in Business Finance with minors in Economics and Psychology.
Outside of the office, Derek is actively involved in several philanthropic and community organizations throughout the Indianapolis area, with a particular focus on youth development and family support initiatives. He, his wife Brittany, and their four sons—Brecken, Callum, Hayes, and Holden—reside in Indianapolis, IN.
Securities Agent: NM, NC, CT, UT, NV, TN, OK, IN, GA, WI, TX, LA, CO, OH, MO, MI, IL, WA, NY, NJ, MA, FL, NH, MT, MN, MD, HI, CA, AL, OR, IA, DE, AZ, WY, VA, PA, ND, KY, DC, SC; General Securities Representative; Investment Advisor Representative
NMLS#: 1279523
NMLS#: 1279523
About Justin Klausner
Justin began his career in Denver, Colorado, with Janus Henderson Group, where he developed a strong foundation in investment management, capital markets, and Client Service. During this time, he successfully completed the CERTIFIED FINANCIAL PLANNER® examination and earned his CFP® designation in September 2019.
After joining the team in 2017, Justin served as an Analyst with responsibilities spanning portfolio management and Trading, capital markets due diligence, and comprehensive financial planning. He later transitioned into his current role as a Financial Advisor.
Today, Justin works closely with high-net-worth individuals and self-employed business owners, providing strategic guidance on long-term wealth strategies, retirement planning, and customized investment management strategies. His areas of focus include investment management and asset allocation, assisting self-employed individuals with business planning and preparation for large liquidity events, and generational wealth planning strategies.
Justin earned a Bachelor’s Degree in Economics from Miami University (Ohio) in May 2016. He is a third-generation financial advisor with the team, following his father Jon Klausner, and Grandfather Jack Klausner.
Outside of the office, Justin is an active member of the Penrod Society and a serves on the board of Samantha’s House. He resides in Indianapolis, Indiana, with his wife, Meghan, and their son, Jules.
Disclosures:
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
After joining the team in 2017, Justin served as an Analyst with responsibilities spanning portfolio management and Trading, capital markets due diligence, and comprehensive financial planning. He later transitioned into his current role as a Financial Advisor.
Today, Justin works closely with high-net-worth individuals and self-employed business owners, providing strategic guidance on long-term wealth strategies, retirement planning, and customized investment management strategies. His areas of focus include investment management and asset allocation, assisting self-employed individuals with business planning and preparation for large liquidity events, and generational wealth planning strategies.
Justin earned a Bachelor’s Degree in Economics from Miami University (Ohio) in May 2016. He is a third-generation financial advisor with the team, following his father Jon Klausner, and Grandfather Jack Klausner.
Outside of the office, Justin is an active member of the Penrod Society and a serves on the board of Samantha’s House. He resides in Indianapolis, Indiana, with his wife, Meghan, and their son, Jules.
Disclosures:
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Securities Agent: NC, MD, AL, WA, UT, OH, NJ, PA, NV, MN, LA, KY, AR, GA, CA, AZ, TN, NY, NM, NH, MA, IN, IL, DC, CO, VA, OR, MI, CT, MT, IA, FL, SC, MO, HI, WI, DE, TX; General Securities Representative; Investment Advisor Representative
NMLS#: 2274467
NMLS#: 2274467
About Matthew Henning
Matt Henning is a Senior Vice President, Financial Advisor, CERTIFIED FINANCIAL PLANNER®. He joined Morgan Stanley in 2024 and is excited to be a part of the Indiana Central Illinois Market.
Matt began his career in finance at the Chicago Board of Trade. In 2013, he made the move from Chicago to Zionsville, Indiana and transitioned to wealth management. Matt is passionate about forming strong business relationships with his clients – relationships that often-become enduring personal relationships with time. Matt makes his clients’ goals and concerns his main priority and is deeply committed to earning each client’s confidence and loyalty every business day.
Matt graduated from Miami University earning his Bachelor of Science and his Futures and Options Certification from Northwestern University. He and his wife Jamee have two girls, Ella and Grace, plus their boxer, Bubba Goose. Outside of the office, Matt has experience serving on the board for Best Buddies of Indiana and coaching Zionsville youth basketball.
Matt began his career in finance at the Chicago Board of Trade. In 2013, he made the move from Chicago to Zionsville, Indiana and transitioned to wealth management. Matt is passionate about forming strong business relationships with his clients – relationships that often-become enduring personal relationships with time. Matt makes his clients’ goals and concerns his main priority and is deeply committed to earning each client’s confidence and loyalty every business day.
Matt graduated from Miami University earning his Bachelor of Science and his Futures and Options Certification from Northwestern University. He and his wife Jamee have two girls, Ella and Grace, plus their boxer, Bubba Goose. Outside of the office, Matt has experience serving on the board for Best Buddies of Indiana and coaching Zionsville youth basketball.
Securities Agent: OR, DE, WA, VA, PA, MO, MN, MD, FL, AL, NM, NY, MA, MT, TX, NJ, NH, IN, IL, HI, LA, CO, TN, SC, NC, MI, IA, AZ, NV, WY, UT, KY, CT, CA, WI, GA, DC, OH; General Securities Representative; Investment Advisor Representative
NMLS#: 1022068
NMLS#: 1022068
About Jennifer Margason
Jenny has over 25 years of client service and investment brokerage experience that she brings to the Klausner Duffy DiSalvo Investment Group and their clients.
Jenny began her career on the investment trading and execution side of the brokerage business and from there she grew into a Financial Planning Specialist and Portfolio Associate roles, which she enjoys today. Her desire is to provide an excellent, high touch, personal service experience to the Klausner Duffy DiSalvo groups’ clientele. She holds the Series 7, Series 63 and 65 license designations, allowing her the ability to accept trade instructions from clients in addition to her administrative responsibilities. Jenny and her husband Bill stay actively involved in their local church, as well as volunteering their time in the community. The Margasons reside on the south side of Indianapolis. They have three children, Robby, Tyler and Samantha.
Jenny began her career on the investment trading and execution side of the brokerage business and from there she grew into a Financial Planning Specialist and Portfolio Associate roles, which she enjoys today. Her desire is to provide an excellent, high touch, personal service experience to the Klausner Duffy DiSalvo groups’ clientele. She holds the Series 7, Series 63 and 65 license designations, allowing her the ability to accept trade instructions from clients in addition to her administrative responsibilities. Jenny and her husband Bill stay actively involved in their local church, as well as volunteering their time in the community. The Margasons reside on the south side of Indianapolis. They have three children, Robby, Tyler and Samantha.
About Caryn Wilkinson
Caryn has worked in the brokerage industry since 1995.
She gained experience in training and operations while beginning her career at Charles Schwab. In 2006, Caryn joined the Klausner & Duffy Investment group at UBS Financial Services Inc. as a Registered Client Service Associate. She is now a Portfolio Associate and holds the Series 7, Series 63 and Series 66 license, allowing her to accept trade instructions from clients. Her area of focus resides in assisting the team with marketing and research, college saving plans and charitable gifting accounts. Caryn has a Bachelor's Degree in Marketing from Indiana University Kelley School of Business. Caryn has two children, Abby and Aiden, and resides in Fishers, IN.
She gained experience in training and operations while beginning her career at Charles Schwab. In 2006, Caryn joined the Klausner & Duffy Investment group at UBS Financial Services Inc. as a Registered Client Service Associate. She is now a Portfolio Associate and holds the Series 7, Series 63 and Series 66 license, allowing her to accept trade instructions from clients. Her area of focus resides in assisting the team with marketing and research, college saving plans and charitable gifting accounts. Caryn has a Bachelor's Degree in Marketing from Indiana University Kelley School of Business. Caryn has two children, Abby and Aiden, and resides in Fishers, IN.
About Carly Taylor
Carly serves as the Registered Client Service Associate for the Klausner Duffy DiSalvo Group.
Her responsibilities include assisting clients regarding their accounts, administrative duties, and tasks related to daily operations. Carly began working at Morgan Stanley in March of 2022. She attended Indiana Wesleyan University and has a background in education. Carly holds both her Series 7 and Series 66 licenses. Carly lives near downtown Indianapolis. In her free time, she enjoys reading and spending time outdoors.
Her responsibilities include assisting clients regarding their accounts, administrative duties, and tasks related to daily operations. Carly began working at Morgan Stanley in March of 2022. She attended Indiana Wesleyan University and has a background in education. Carly holds both her Series 7 and Series 66 licenses. Carly lives near downtown Indianapolis. In her free time, she enjoys reading and spending time outdoors.
About Kailynn Grieve
Kailynn serves as the Client Service Analyst for the Klausner Duffy DiSalvo Group.
Her responsibilities include supporting the team’s advisors with client-related work and assisting with day-to-day operational needs, as well as researching different areas of the market using economic data and insights. Kailynn graduated from Butler University in May 2026 and joined Morgan Stanley in June 2026. She is currently in the process of obtaining her SIE, Series 7, and Series 66 licenses, with a long-term goal of becoming a Financial Advisor. Originally from Grand Rapids, Michigan, Kailynn now lives near Keystone in Indianapolis. In her free time, she enjoys spending time outdoors, golfing, and trying new restaurants.
Her responsibilities include supporting the team’s advisors with client-related work and assisting with day-to-day operational needs, as well as researching different areas of the market using economic data and insights. Kailynn graduated from Butler University in May 2026 and joined Morgan Stanley in June 2026. She is currently in the process of obtaining her SIE, Series 7, and Series 66 licenses, with a long-term goal of becoming a Financial Advisor. Originally from Grand Rapids, Michigan, Kailynn now lives near Keystone in Indianapolis. In her free time, she enjoys spending time outdoors, golfing, and trying new restaurants.
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4Morgan 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
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.
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 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
4Morgan 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
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.
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), 5378280 (5/2026)
