Our Story & Services

The Lucien Schoster Smith Team is committed to providing high quality financial services to our clients.  We consistently work to build lasting relationships by placing your interests first and guiding you throughout your lifetime.  We believe that our commitment, dedication, knowledge and experience may provide significant value and help you to achieve your long term wealth and financial goals.
Recognition
  • 2023-2024 Forbes Best-In-State Wealth Management Teams
  • Source: Forbes.com (Awarded 2023-2024) Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*

Working With You

At Morgan Stanley, we believe that identifying financial solutions begins with a solid understanding of each client’s situation, goals, objectives and risk tolerance. We follow a disciplined process that allows us to work with you to craft a solution that helps to meet your individual financial needs:
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    Step 1: Introductory Meeting
    Our relationship begins with an initial discussion aimed towards getting to know you, your lifestyle, and your future goals.
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    Step 2: Discovery Meeting
    During the discovery meeting, we will work together to establish your financial goals by reviewing your current financial situation and developing an appropriate risk tolerance that can help you achieve the financial outcome you envision for yourself.
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    Step 3: Financial Plan Presentation
    Financial plan presentations map out essential factors that play into your financial success such as your employee and employer contributions, liquidity events, and insurance coverage. Examining relevant financial information provides a holistic asset allocation analysis for your accounts helping ensure a comprehensive financial plan.
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    Step 4: Action Items / Next Steps
    After the financial plan presentation, we will follow up with you regarding our analysis and recommendations, which may include adjustments to your financial plan, investment allocation, company benefits and insurance coverage.
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    Step 5: Implementation Meeting
    The implementation meeting focuses on creating prospective strategies custom designed for your specific needs. Recommended changes could include logistics, tax impact, asset allocation adjustments, and saving/benefit modifications.
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    Step 6: Monitoring & Performance Tracking
    Finally, we will be constantly monitoring your assets and analyzing your performance tracking data seeking to ensure your financial expectations are being met and adjusted accordingly. We will keep a high degree of communication with you to make sure your concerns and requests are always addressed.
The Morgan Stanley Wealth Management process begins with you, your investment objectives and your financial goals. Holistic in its approach, it may encompass all the elements of your financial life — your investments and your cash management needs — making sure they align with your goals and wealth management plan.

The sophisticated suite of tools and the extensive list of resources that Morgan Stanley offers, allows us to implement the Morgan Stanley wealth management process and translate your goals into reality.

Whatever your financial goal—whether to grow your wealth, preserve it or pass it on to others, you can count on us to help you with a strategy that is:
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    1. Personal:
    Highly individualized and committed to helping you achieve financial success.
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    2. Flexible:
    Responsive to changes in your life and in your priorities over time.
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    3. Comprehensive:
    Covering a broad array of investment products and services, with preferred benefits tied to your valued status with us
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    Financial Planning Analysis:
    To begin your complementary financial planning analysis, please click the link below.
    Financial Planning Questionnaire

Valuable Tools and Resource:

Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies we have to offer our clients. We have also included resources meant to transform complex financial analysis and research into concise and easily digestible content.
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    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.
    Learn More About MSO
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    Total Wealth View
    Complete your financial picture with Total Wealth View. By linking your account information, you will benefit from more informed wealth planning, more secure data access, and convenient connectivity.
    Learn More About Total Wealth View
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    Goals Based Planning
    Working with us, paired with our technology, is a great way to access advice and build a wealth plan. Read more about the advantages of working with our planning technology in reaching your financial goals.
    Learn About Our Planning Tools
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    Online Security Center
    At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
    Learn More About Online Security Center
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    Thoughts On The Market Podcast
    With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
    Check Out The Latest Episode
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    On The Markets Research Report
    Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
    Read The Latest Report
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    Morgan Stanley Ideas Podcast
    The Morgan Stanley Ideas Podcast brings you revealing stories about the world of business, finance, technology and beyond.
    Check Out The Latest Episode
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    GIC Weekly Research Report
    The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
    Read The Latest Report

Experience

Our team offers over 98 combined years of hands on experience in assisting our clients with the achievement of their long term financial planning needs, and take pride in delivering our services with a high degree of integrity, enthusiasm and commitment to our client’s success.
Our Clients include:
  • Retirees
  • Pre-Retirees
  • Business Owners
  • Corporate Executives
  • CPAs and Attorneys
  • Corporations
  • Corporate Retirement Plans
  • Foundations and Endowments
  • Trusts and Estates
  • Non-Profit Organizations

WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

Our mission is to help your company elevate your workplace financial benefits—helping you to attract and retain top talent. Our end-to-end solutions support your company and employees at any stage of growth through a powerful combination of modern technology, insightful guidance, and dedicated service.

    Equity Solutions

    Equity ownership is a powerful motivator. Streamline equity management through our leading-edge technology and provide global audit-ready reporting and insights, alongside customizable participant experiences to engage and educate your employees on how to make the most of their benefits. Our global solutions support private and public companies at any stage of growth.

    • Equity Administration and Financial Reporting
    • Liquidity Events
    • 409A Valuation Services and Cap Table Management

    Learn more
    Retirement

    For your employees, retirement is more than a date in the future—it's a milestone that takes time, hard work, and the right tools. Through our consultative process, we strive to assist with the management of your fiduciary responsibilities and risk, simplify plan management, and help you improve retirement readiness for your employees.

    • Defined Contribution Consulting
    • Solutions-Oriented Plans
    • Fiduciary Investment Oversight

    Learn more
    Deferred Compensation

    Access a range of Nonqualified Deferred Compensation plan services or pick the ones that best fit your needs. We provide recordkeeping and plan design, portfolio construction services, and plan education for your executive talent. We help you determine the appropriate plan design and inform a funding strategy through a needs-based assessment and consultative approach.

    Services include:

    • Recordkeeping and Plan Design
    • Portfolio Construction
    • Wealth Management Services
    Learn more
    Executive Services

    Our dedicated team provides concierge-level support for your executives' equity compensation plans, from 10b5-1 trading plans to form filing related to Rule 144 transactions, to access to wealth management and tax-optimization strategies, so helping them navigate their complex financial needs with greater confidence and certainty:

    • Equity Compensation Services
    • Equity Award Analysis
    • Specialized Solutions
    Learn more
    Saving and Giving

    Saving and Giving benefits can make a real difference in your employees' lives as they can support the things that matter most to them—like saving for education and repaying student loans. Show that you are committed to your employees' priorities with leading-edge solutions that help them chart a path toward financial well-being.

    • College Savings
    • Student Loan Repayment and Refinancing
    • Charitable Giving
    Learn more
    Financial Wellness

    We offer Financial Wellness with every solution we provide. Through a powerful combination of education, digital tools and guidance, Financial Wellness is designed to address the unique needs of your employees and empower their financial journey at every stage. Give your employees the confidence to take charge of their finances.

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

Location

7755 Montgomery Road 2nd
Suite 200
Cincinnati, OH 45236
US
Direct:
(513) 762-5200(513) 762-5200
Toll-Free:
(800) 543-2665(800) 543-2665
Fax:
(513) 762-5201(513) 762-5201

Meet The Lucien Schoster Smith Team

Photo of Julie L. Seavey

Julie L. Seavey

Assistant Vice President, Group Director
Phone:
(513) 562-8325(513) 562-8325
Photo of Emily Doerr

Emily Doerr

Senior Client Service Associate
Phone:
(513) 562-8327(513) 562-8327
Photo of Christina Gertz

Christina Gertz

Client Service Associate
Phone:
(513) 762-5328(513) 762-5328

About Ted M. Lucien

Ted is a senior member of The Lucien Schoster Smith Team at Morgan Stanley in Cincinnati, working out of the Kenwood office. He has been with the Firm for the past 41 years. Prior to joining Morgan Stanley in 1983, Ted spent five years with Price Waterhouse in Cincinnati. Ted was a member of the firm’s past Chairman’s Council from 1988 through 2008, and is a current member of the Master’s Club 2024, both of which are distinctions awarded to the top Morgan Stanley Financial Advisors. He has been named a Five Star Wealth Manager from 2012-2014, 2016-2019, and 2021-2023. He is also a member of the Association of Professional Investment Consultants and the American Institute of Certified Public Accountants. He was a founding and past board member of Charities for Children, Inc. and is a current board member of SEM Laurels. Ted graduated from Miami University in 1978 with a Bachelor’s degree in Business Sciences, majoring in Accounting with a minor in Finance. He lives in Cincinnati, OH with his wife and their children.

2023-2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023-2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.

2012-2014, 2016-2019, 2021-2023 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2012-2014, 2016-2019, 2021-2023). These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2023 Award – 12/02/2022 – 06/30/2023
2022 Award – 01/03/2022 – 07/01/2022
2021 Award – 12/14/2020 – 07/09/2021
2019 Award – 11/19/2018 – 06/28/2019
2018 Award – 12/20/2017 – 07/19/2018
2017 Award – 12/21/2016 – 06/29/2017
2016 Award – 02/10/2016 – 07/25/2016
2014 Award – 02/10/2014 – 07/25/2014
2013 Award – 02/10/2013 – 07/25/2013
2012 Award – 02/10/2012 – 07/25/2012
Securities Agent: SC, MO, CA, TN, WY, WV, WI, RI, WA, AZ, AR, CT, FL, HI, IL, KY, GA, PA, MN, NC, NJ, MT, OH, MI, VA, UT, TX, NY, MS, MA, IN, CO, AL; General Securities Representative; Investment Advisor Representative

About Adam J. Schoster

Adam is a senior member of The Lucien Schoster Smith Team, working out of the Kenwood office in Cincinnati. He has been with the Firm for the past 31 years. Adam is a CERTIFIED FINANCIAL PLANNERᵀᴹ, a distinction attained through extensive education and testing. He has been a member of the Firm’s past Chairman’s Council from 2000 through 2008 and is a current member of the Master’s Club 2024, distinctions awarded to the top Morgan Stanley Financial Advisors. He has been named a Five Star Wealth Manager from 2013 to 2017, 2022-2023. Adam was born and raised in Cincinnati. After attending Elder High School, Adam graduated from the University of Cincinnati in 1993 with a Bachelor’s degree in Business Administration – Finance. Adam lives in Okeana, OH with his wife and their children.

Morgan Stanley Wealth Management Chairman’s, Master’s Club members must meet a number of criteria including performance, conduct and compliance standards, revenue, length of experience and assets under supervision. Chairman’s, Master’s Club membership is no guarantee of future performance.

2023-2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023-2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.


2013-2017, 2022-2023 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2013-2017, 2022-2023). These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2023 Award – 12/02/2022 – 06/30/2023
2022 Award – 01/03/2022 – 07/01/2022
2017 Award – 12/21/2016 – 06/29/2017
2016 Award – 02/10/2016 – 07/25/2016
2015 Award – 02/10/2015 – 07/25/2015
2014 Award – 02/10/2014 – 07/25/2014
2013 Award – 02/10/2013 – 07/25/2013
2012 Award – 02/10/2012 – 07/25/2012
Securities Agent: CO, TN, PA, MS, ID, SC, RI, NV, NC, MO, MN, WV, WA, UT, OK, KS, DE, CT, AL, NJ, IL, FL, AR, AK, OR, OH, MI, CA, NY, MA, IN, AZ, VA, TX, LA, KY, GA; General Securities Representative; Investment Advisor Representative
NMLS#: 1836580

About Matthew R. Smith

Matthew has been with the Firm for the past 21 years. Matthew is a CERTIFIED FINANCIAL PLANNERᵀᴹ and Chartered Retired Plans Specialistᵀᴹ, both distinctions attained through extensive education and testing. He has been named a Five Star Wealth Manager from 2012 to 2023. Matthew was born and raised in Hamilton, OH. After attending Stephen T. Badin High School, Matthew graduated from Miami University in 2004 with a Bachelor’s degree in Business Sciences, majoring in finance. He lives in Liberty Township, OH with his wife and their children.


2023-2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023-2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.

2012-2023 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2012-2023). These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2023 Award – 12/02/2022 – 06/30/2023
2022 Award – 01/03/2022 – 07/01/2022
2021 Award – 12/14/2020 – 07/09/2021
2020 Award – 12/02/2019 – 06/12/2020
2019 Award – 11/19/2018 – 06/28/2019
2018 Award – 12/20/2017 – 07/19/2018
2017 Award – 12/21/2016 – 06/29/2017
2016 Award – 02/10/2016 – 07/25/2016
2015 Award – 02/10/2015 – 07/25/2015
2014 Award – 02/10/2014 – 07/25/2014
2013 Award – 02/10/2013 – 07/25/2013
2012 Award – 02/10/2012 – 07/25/2012
Securities Agent: MI, MA, AL, WV, CT, TN, PA, MD, WA, UT, SC, MN, KY, AR, MS, IA, NJ, DE, CA, TX, IL, FL, OR, GA, CO, OH, NY, NC, IN, AZ, VA, RI; General Securities Representative; Investment Advisor Representative
NMLS#: 1853451

About Jacob Lindsey

Jacob (Jake) has been with Morgan Stanley his entire five year career and is the newest member of The Lucien Schoster Smith Team at the Kenwood office in Cincinnati. He is a current member of our Firm’s Pacesetter’s Club, which is a distinction recognizing top performing young advisors among their peers. Jake was born and raised in Cincinnati, where he attended Elder High School before earning a Bachelor’s in Economics from Harvard University in 2015. He currently resides in the Western Hills area with his wife and child.

2023-2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023-2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Securities Agent: CT, CO, NJ, IN, GA, AK, MD, IL, WI, UT, MS, DC, CA, WV, RI, VA, NY, WA, OH, MN, LA, TX, TN, AZ, NV, AR, AL, MA, NC, SC, PA, MI, KY, FL; General Securities Representative; Investment Advisor Representative
NMLS#: 1925829

About Julie L. Seavey

35 years with the Firm, 39 years in the business
Series 7, Series 63, Series 65

Responsibilities Include:
-Team Administrator
-Problem Resolution
-IRA Distributions
-Managed Accounts

About Emily Doerr

6 years the firm, 11 years in the business

Responsibilities Include:
-Client Service
-Administrative Issues
-Client Correspondence

About Christina Gertz

2 years at the firm

Responsibilities Include:
-Client Service
-Administrative Issues
-Client Correspondence
Wealth Management
From Our Team

The GIC Weekly

Learn More about The GIC Weekly
View All Documents
Wealth Management
Global Investment Office

Portfolio Insights

Read More about On the Markets
Read "On the Markets"
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Equity Compensation

Helping you make the most of your equity awards and better understand how it may fit into your your larger financial picture – today and tomorrow.

  • Vesting events
  • Option expirations
  • Restricted stock units
  • Tax implications

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
Learn More about Investing
The Rules of Housing Affordability Have Changed
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The Rules of Housing Affordability Have Changed

Although mortgage rates are beginning to ease, the number of home sales is expected to languish for now.

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
Learn More about Family
Taking Control of Your Finances After Death of a Spouse
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Taking Control of Your Finances After Death of a Spouse

Financial planning after a divorce or death can be trying, but with the right approach and the right advice you can turn a difficult situation into empowerment.

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
Learn More about Retirement
HSAs: An Overlooked Retirement Savings Vehicle
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HSAs: An Overlooked Retirement Savings Vehicle

Health savings accounts (HSAs) are savings vehicles that offer tax benefits and can help you cover what may be your largest expense in retirement: health care.

Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Qualified Retirement Plans
Learn More about Business Planning
Strategies to Finance Your Business
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Strategies to Finance Your Business

Growth could be within your grasp—if you can get the right financing.

Philanthropy

Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
  • Endowments
  • Foundations
  • Donor Advised Funds
  • Impact Investing
Learn More about Philanthropy
Donor Advised Funds: A Smart Way to Manage Your Giving 
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Donor Advised Funds: A Smart Way to Manage Your Giving 

There’s more to charitable giving than you may realize. Here’s one method that may be a tax-efficient way to give and can help maximize your impact.
Ready to start a conversation? Contact The Lucien Schoster Smith Team today.
Market Information Delayed 20 Minutes
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.

For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.

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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.

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3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.

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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

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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.

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6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

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8Morgan 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.

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9When 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.

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10When 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.

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11Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.

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12When 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.

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13Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.

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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:
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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.

Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.

The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.

*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney.  The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.

Awards Disclosures
CRC 6491812 (04/2024)