Jessica A Marshall
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(212) 230-3602(212) 230-3602
The Marshall / Tepper Group at Morgan Stanley
Direct:
(212) 230-3498(212) 230-3498
Toll-Free:
(800) 843-0211(800) 843-0211
Our Mission Statement
We don't believe in a one-size-fits-all cookie cutter approach to wealth management. We create smart, customized strategies to help successful individuals and families preserve and grow their wealth.
Welcome
The Marshall Tepper Group is now The Park Plaza Group. Our new Website is Currently Under Construction.
You’ve worked hard to achieve financial success. You deserve a wealth management plan that works hard for you. Whether you’re a young professional, growing a business, planning for retirement, or transferring wealth, we’ll help you plan and preserve what you’ve worked hard to achieve so you can reach your financial goals for the future.
Our team grew out of a husband and wife practice and continues to take a collaborative approach to wealth management. With over 85 years of combined experience, we help guide clients through a wide range of financial issues that require careful attention, sophisticated resources, and a keen understanding of market complexities. With our corporate and financial services backgrounds, we have extensive experience in financial planning and asset management.
As Senior and Certified Portfolio Managers, we are among a select group of Morgan Stanley advisors who take a hands-on approach to the markets by doing our own research, analysis, and portfolio construction. With more than three decades of experience in the industry, we’ve seen both bear and bull markets up close and personal. So when it comes to investing, we remain patient and totally focused on our client’s objectives of building and maintaining their financial resources.
If you’d like a second opinion about your investments or would like to chat about your financial future, please call us at (212)-230-3498.
You’ve worked hard to achieve financial success. You deserve a wealth management plan that works hard for you. Whether you’re a young professional, growing a business, planning for retirement, or transferring wealth, we’ll help you plan and preserve what you’ve worked hard to achieve so you can reach your financial goals for the future.
Our team grew out of a husband and wife practice and continues to take a collaborative approach to wealth management. With over 85 years of combined experience, we help guide clients through a wide range of financial issues that require careful attention, sophisticated resources, and a keen understanding of market complexities. With our corporate and financial services backgrounds, we have extensive experience in financial planning and asset management.
As Senior and Certified Portfolio Managers, we are among a select group of Morgan Stanley advisors who take a hands-on approach to the markets by doing our own research, analysis, and portfolio construction. With more than three decades of experience in the industry, we’ve seen both bear and bull markets up close and personal. So when it comes to investing, we remain patient and totally focused on our client’s objectives of building and maintaining their financial resources.
If you’d like a second opinion about your investments or would like to chat about your financial future, please call us at (212)-230-3498.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Capabilities
With a collaborative, detail-oriented approach, we aim to design a wealth management plan that is truly tailored to your unique needs and aspirations. That’s why we start with a deep understanding of your objectives and personal preferences – your risk tolerance, liquidity needs, long-term goals, and tax and estate planning requirements.
Whether we are building your portfolio from scratch or updating an existing one, we get to know and appreciate both your investment style and how a mix of investments and certain appropriate liabilities are best suited to your objectives. We begin each day conducting our own research gathered from the best minds in areas and subjects that could impact our strategies and investment decisions. This insight not only sets us apart from other advisors, but allows us to provide you with the latest and most appropriate guidance.
We communicate and collaborate with you frequently – by telephone, email, and in person – to ensure that your financial strategy stays aligned with your evolving objectives. We also keep you up to date on market behavior through a quarterly newsletter. None of our material is “canned” and we haven’t missed a quarter in the last 25 years!
We also work with your attorneys and tax professionals as needed, that way our financial strategy is not only coordinated, but comprehensive.
Whether we are building your portfolio from scratch or updating an existing one, we get to know and appreciate both your investment style and how a mix of investments and certain appropriate liabilities are best suited to your objectives. We begin each day conducting our own research gathered from the best minds in areas and subjects that could impact our strategies and investment decisions. This insight not only sets us apart from other advisors, but allows us to provide you with the latest and most appropriate guidance.
We communicate and collaborate with you frequently – by telephone, email, and in person – to ensure that your financial strategy stays aligned with your evolving objectives. We also keep you up to date on market behavior through a quarterly newsletter. None of our material is “canned” and we haven’t missed a quarter in the last 25 years!
We also work with your attorneys and tax professionals as needed, that way our financial strategy is not only coordinated, but comprehensive.
Life Navigation
Here you will find a wide range of content and materials covering a variety of life events and milestones.
Financial Literacy
Financial literacy means being equipped with the knowledge to make smart financial decisions during every stage of your life. No matter your current priorities, a strong financial literacy foundation can help you meet your goals.
Financial Literacy for Any Stage of Your Life
Education
Education is a major investment and expense—one that often requires years of careful, advanced planning. As educational costs continue to rise—from primary education through undergraduate, graduate and professional schools—we can help you approach the range of educational expenses, such as tuition, extension programs and advanced professional training, with appropriate funding strategies for their particular situations.
Learn More About Planning Ahead
Marriage
There are few events more exciting than when you decide to align your life with the person you love. One of the most important conversation before tying the knot is money—how you'll make it, save it, spend it and invest it. In addition, helping fund an adult child’s wedding is a goal for many parents (and grandparents). Our team can play an important role in helping you plan for these milestones.
Learn More About Talking Money with Your Spouse
Death
Dealing with death is never easy. Aside from coping with the loss of a loved one, legal matters also require immediate attention, including administration of your estate. Though it may be hard to talk about estate planning because of the heartache, addressing it promptly is crucial to saving both time and money, and minimizing family conflict or confusion.
Learn More About Estate PlanningWomen & Wealth
Women's Playbook
There’s no doubt about it—women face a unique set of financial challenges. Yet, most of us feel ill-equipped to navigate these circumstances on our own. At Morgan Stanley, we have witnessed the power of education and trusted guidance to transform a woman’s relationship with money. We believe educated women create a ripple effect, inspiring generations of men and women to come. That is why we are committed to empowering you with the knowledge and tools needed to help achieve your goals: whether you’re buying a home, starting a family, navigating a divorce, or giving back to a cause you care about.
Family Assist
Designed to help guide you and your family with the decisions to be made following a major life event. Here at Morgan Stanley, we can help you adapt FamilyAssist to your specific needs. We are able to provide you with the advice and guidance necessary to set priorities and make informed decisions.
Navigating Divorce
It is important to evaluate the impact divorce can have on both your personal and financial matters. Learn how to build a solid financial strategy that may help provide you with greater independence and flexibility in the future.
Latest Newsletters and Events
Q4 2025 Newsletter
The Marshall/Tepper Group has merged with The Cunningham Group to become The Park Plaza Group at Morgan Stanley, continuing to prioritize thoughtful advice and disciplined portfolio management. Despite a volatile 2025 marked by AI developments and economic challenges, there is cautious optimism for diversified growth in 2026.
Continue Reading: “One Chapter Ends — and Another Is Just Getting Started"Jessica A. Marshall Named to President’s Club at Morgan Stanley
Morgan Stanley (NYSE: MS) announced that Jessica A. Marshall, a Executive Director, Financial Advisor and Senior Portfolio Management Director in its Wealth Management office in New York City has been named to the Firm’s prestigious President’s Club, an elite group composed of the Firm’s top Financial Advisors. The appointment recognizes Jessica’s consistent creativity and excellence in providing a wide range of investment products and wealth management services to her clients.
Read the Full Press ReleaseJessica A. Marshall Named to Forbes 2025 Magazine’s “Top Women Wealth Advisors Best-In-State” List
Morgan Stanley announced today that Jessica A. Marshall, a Executive Director, Senior Portfolio Management Director and Financial Advisor in the Firm’s 522 5th Avenue Wealth Management office, has been named to Forbes Magazine’s list of Top Women Wealth Advisors Best-In State for 2025, listed on forbes.com.
Source: Forbes.com (February, 2025) America’s Top Women Wealth Advisors and Top Women Wealth Advisors Best-In State. Data compiled by SHOOK Research LLC based for the period 9/30/23–9/30/24.
Read the Full Press Release HereSource: Forbes.com (February, 2025) America’s Top Women Wealth Advisors and Top Women Wealth Advisors Best-In State. Data compiled by SHOOK Research LLC based for the period 9/30/23–9/30/24.
2025 Social Security Changes COLA
The Social Security Administration has adjusted benefits payments annually for inflation since 1975. According to the SSA, Social Security benefits and Supplemental Security Income (SSI) payments are adjusted to reflect any increase in the cost of living as measured by the Consumer Price Index (CPI).
Social Security Fact SheetLocation
55 East 52nd Street 10th
Fl
New York, NY 10055
US
Direct:
(212) 230-3498(212) 230-3498
Toll-Free:
(800) 843-0211(800) 843-0211
Meet The Marshall / Tepper Group
Jerrold P Tepper, CPM®
Senior Vice President, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(212) 230-3601(212) 230-3601
Patrick J Valenti
Assistant Vice President, Wealth Management Associate
Phone:
(212) 230-3498(212) 230-3498
Stephen Miller
Client Service Associate
Phone:
(212) 230-3718(212) 230-3718
About Jessica A Marshall
Jessica A. Marshall was a founding partner of The Marshall/Tepper Group at Morgan Stanley and is now a partner in the newly formed Park Plaza Group. With more than 30 years in the financial services industry, Jessica brings a steady, disciplined approach to portfolio management and comprehensive financial planning.
She works closely with corporate executives, business owners, young professionals, individuals, and families, building investment strategies that begin with a deep understanding of each client’s priorities, values, and long-term goals. Known for her patient and thoughtful style, Jessica designs portfolios from the ground up, guided by experience and careful research.
Jessica earned her bachelor’s degree from Finch College and an MBA from Bernard Baruch College. She began managing client portfolios early in her career at Bache Halsey Stuart Shields and joined Smith Barney (now Morgan Stanley) in 1994. She has been recognized by Forbes as one of America’s Top Women Wealth Advisors (2021–2025) and Best-in-State Women Advisors (2023). She has also been acknowledged by the firms at which she worked through membership in their clubs and councils.
Passionate about helping women achieve financial confidence, Jessica co-founded Morgan Stanley’s “HER Way” initiative, a series of community events designed to empower women to live their best financial lives.
Outside the office, Jessica is an avid dog lover and enjoys cooking. A former gold-level ice skater, she continues her lifelong connection to the arts as a Board Member of the Gibney Dance Company.
2021-2025 Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In- State (formerly referred to as Forbes Top Women Wealth Advisors, Forbes America's Top Women Wealth Advisors)
Source: Forbes.com (Awarded 2021-2025). Data compiled by SHOOK Research LLC based on 12-month time period concluding in Sept of year prior to the issuance of the award.
She works closely with corporate executives, business owners, young professionals, individuals, and families, building investment strategies that begin with a deep understanding of each client’s priorities, values, and long-term goals. Known for her patient and thoughtful style, Jessica designs portfolios from the ground up, guided by experience and careful research.
Jessica earned her bachelor’s degree from Finch College and an MBA from Bernard Baruch College. She began managing client portfolios early in her career at Bache Halsey Stuart Shields and joined Smith Barney (now Morgan Stanley) in 1994. She has been recognized by Forbes as one of America’s Top Women Wealth Advisors (2021–2025) and Best-in-State Women Advisors (2023). She has also been acknowledged by the firms at which she worked through membership in their clubs and councils.
Passionate about helping women achieve financial confidence, Jessica co-founded Morgan Stanley’s “HER Way” initiative, a series of community events designed to empower women to live their best financial lives.
Outside the office, Jessica is an avid dog lover and enjoys cooking. A former gold-level ice skater, she continues her lifelong connection to the arts as a Board Member of the Gibney Dance Company.
2021-2025 Forbes America's Top Women Wealth Advisors & Forbes Top Women Wealth Advisors Best-In- State (formerly referred to as Forbes Top Women Wealth Advisors, Forbes America's Top Women Wealth Advisors)
Source: Forbes.com (Awarded 2021-2025). Data compiled by SHOOK Research LLC based on 12-month time period concluding in Sept of year prior to the issuance of the award.
Securities Agent: CT, VI, NH, MT, MO, MA, ME, CO, AZ, KY, RI, NJ, MN, IL, MI, NY, NV, NC, LA, GA, WY, WA, IN, VT, OR, CA, TN, OH, DE, DC, WI, TX, FL, SC, PA, MD, IA, VA; General Securities Representative; Investment Advisor Representative
NMLS#: 1282863
NMLS#: 1282863
About Jerrold P Tepper
Jerrold P. Tepper was a founding partner of The Marshall/Tepper Group at Morgan Stanley, which he established more than 30 years ago alongside his wife and business partner, Jessica A. Marshall. Together, they have now joined as partners in the newly formed Park Plaza Group at Morgan Stanley, marking an exciting next chapter in their long-standing practice.
Jerry brings decades of experience in the financial markets, with a focus on portfolio management and thoughtful financial and estate planning. His work serves a wide range of clients, including corporate executives, business owners, young professionals, and multigenerational families.
Jerry earned his bachelor’s degree from Rutgers University and holds master’s degrees from The New School for Social Research and Hunter College. He received his Certified Portfolio Manager designation from Columbia University’s Center for Financial Engineering and is a past President of the Portfolio Management Institute. Prior to joining Morgan Stanley and its predecessor firm, Smith Barney, Jerry and Jessica built their professional partnership at Prudential Securities.
Jerry remains deeply committed to the clients and families he and Jessica have served for decades, across second and third generations. Over the years they have helped clients navigate complex financial decisions with clarity and confidence, drawing on experience, careful analysis, and a personalized approach. Their work is grounded in long-term relationships and designed to align each client’s financial strategy with their individual goals and aspirations.
When not focused on the markets Jerry can be found biking , tinkering with his “weekend” car or walking his Chihuahua/Jack Russell mix, Jax, at their homes in New York City and Long Beach, NY
Jerry brings decades of experience in the financial markets, with a focus on portfolio management and thoughtful financial and estate planning. His work serves a wide range of clients, including corporate executives, business owners, young professionals, and multigenerational families.
Jerry earned his bachelor’s degree from Rutgers University and holds master’s degrees from The New School for Social Research and Hunter College. He received his Certified Portfolio Manager designation from Columbia University’s Center for Financial Engineering and is a past President of the Portfolio Management Institute. Prior to joining Morgan Stanley and its predecessor firm, Smith Barney, Jerry and Jessica built their professional partnership at Prudential Securities.
Jerry remains deeply committed to the clients and families he and Jessica have served for decades, across second and third generations. Over the years they have helped clients navigate complex financial decisions with clarity and confidence, drawing on experience, careful analysis, and a personalized approach. Their work is grounded in long-term relationships and designed to align each client’s financial strategy with their individual goals and aspirations.
When not focused on the markets Jerry can be found biking , tinkering with his “weekend” car or walking his Chihuahua/Jack Russell mix, Jax, at their homes in New York City and Long Beach, NY
Securities Agent: NC, IA, TN, NJ, ME, GA, CO, WA, RI, NH, VT, MI, IL, DE, DC, WI, VA, SC, PA, NY, NV, MN, MD, LA, CT, WY, TX, OH, MO, CA, AZ, OR, MA, FL, KY, IN, MT; General Securities Representative; Investment Advisor Representative
NMLS#: 1279261
NMLS#: 1279261
About Patrick J Valenti
Patrick Valenti is a Wealth Management Associate and key member of the Marshall/Tepper Group. Patrick is responsible for all client services and administrative functions. He is often the first person that current and prospective clients will talk to for their service needs. Prior to joining Morgan Stanley in 2019, Patrick held Client Service Associate and Operations Specialist positions at Ameriprise Financial. Here too, he held a client facing role which helped develop his knowledge and skill base in financial services.
Patrick is a graduate of Manhattan College where he received his BS in Finance and Economics. He is married, and in his spare time, he enjoys the outdoor activities such as snowboarding, water skiing, golf, hiking and walking with their dog Franklin.
Patrick is a graduate of Manhattan College where he received his BS in Finance and Economics. He is married, and in his spare time, he enjoys the outdoor activities such as snowboarding, water skiing, golf, hiking and walking with their dog Franklin.
About Stephen Miller
Stephen Miller is a Client Service Associate for the Marshall/Tepper Group and is responsible for the day to day operational duties servicing client's needs. Stephen is dedicated in delivering first class services to clients by utilizing the tools of the firm. Prior to joining the Marshall/ Tepper Group, Stephen served as a Listed Derivatives analyst for Morgan Stanley in Baltimore, Maryland.
Stephen graduated in 2021 from Rhodes College in Memphis, TN with a B.S. degree in Finance. As a student-athlete, Stephen had the opportunity to play Men's Lacrosse as the team's goalie. To this day, Stephen remains passionate about Lacrosse and his alma mater. Stephen also participated in the CFA Research Challenge, where he spent a semester researching and presenting his equity research. Outside of work, Stephen enjoys spending his time playing golf and basketball.
Stephen graduated in 2021 from Rhodes College in Memphis, TN with a B.S. degree in Finance. As a student-athlete, Stephen had the opportunity to play Men's Lacrosse as the team's goalie. To this day, Stephen remains passionate about Lacrosse and his alma mater. Stephen also participated in the CFA Research Challenge, where he spent a semester researching and presenting his equity research. Outside of work, Stephen enjoys spending his time playing golf and basketball.
Contact Jessica A Marshall
Contact Jerrold P Tepper
Wealth Management
From Our Team
Q4 2025 Newsletter
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Why Having a Goal Is Key to Investing
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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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
Ready to start a conversation? Contact The Marshall / Tepper Group today.
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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.
3Morgan 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.
4Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
5Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6When 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.
7When 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
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.
3Morgan 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.
4Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
5Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6When 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.
7When 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.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)