Ted R. Larson, CFP®, CRPS®
Senior Vice President, Financial Advisor, Senior Portfolio Manager
Phone:
(612) 340-6728(612) 340-6728
The Headwaters Group at Morgan Stanley
Direct:
(612) 340-6728(612) 340-6728
Toll-Free:
(800) 786-6770(800) 786-6770
Our Mission Statement
Managing client wealth by anticipating and planning for each generation's expected and unexpected life events, in a meaningful and endurable way
Who We Are
Whether you are retired or saving for retirement, your biggest worry might be, will I have enough? When you retire, you want to spend time doing your favorite things.
We give our best efforts every day to meet our clients' expectations. Those expectations are quite clear. They count on us to take care of their money and help grow their wealth. Understanding objectives and customizing investment portfolios is at the core of our work for clients. We provide answers to questions and when necessary, bring clarity and education regarding strategic direction. Clients value our understanding and study of the capital markets. They ask us to keep costs down and answer the phone when they call...we do.
Old fashioned stock and bond analysis is the starting point for portfolio construction specific to each client's goals. No pre-packaged, boiler plate, check the box investing. Whether your investment strategy consists of predominantly stocks and bonds or a plan-based asset allocation model, each investment and portfolio is customized to the client's specific objectives.
Our shared long-term goal - have a strategy in place that puts you on a path to fund a comfortable retirement and gives you the confidence that your money will be there for you through your retirement years.
We give our best efforts every day to meet our clients' expectations. Those expectations are quite clear. They count on us to take care of their money and help grow their wealth. Understanding objectives and customizing investment portfolios is at the core of our work for clients. We provide answers to questions and when necessary, bring clarity and education regarding strategic direction. Clients value our understanding and study of the capital markets. They ask us to keep costs down and answer the phone when they call...we do.
Old fashioned stock and bond analysis is the starting point for portfolio construction specific to each client's goals. No pre-packaged, boiler plate, check the box investing. Whether your investment strategy consists of predominantly stocks and bonds or a plan-based asset allocation model, each investment and portfolio is customized to the client's specific objectives.
Our shared long-term goal - have a strategy in place that puts you on a path to fund a comfortable retirement and gives you the confidence that your money will be there for you through your retirement years.
Services Include
- Wealth ManagementFootnote1
- Professional Portfolio ManagementFootnote2
- Retirement PlanningFootnote3
- 401(k) Rollovers
- Fixed IncomeFootnote4
- Corporate BondsFootnote5
- Municipal BondsFootnote6
- Divorce Financial AnalysisFootnote7
- Financial PlanningFootnote8
- Planning for Education FundingFootnote9
- Corporate Retirement PlansFootnote10
- AnnuitiesFootnote11
- Cash ManagementFootnote12
- Business PlanningFootnote13
- Donor Advised Funds
- LGBT+ Planning ServicesFootnote14
- Wealth PlanningFootnote15
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Investment Philosophy
Our investment philosophy at The Headwaters Group is to provide personalized, strategic guidance, tailored to your unique financial goals.
We leverage Morgan Stanley's global resources, cutting-edge technology, and industry leading market insight to deliver innovative solutions for you and your family.
Our practice in addition to mastering the tools Morgan Stanley has to offer also directly manages two proprietary portfolios, Core Dividends® and Core Appreciation.
Core Dividends®
The portfolio is managed under the belief that high dividend yields matter but high dividend growth rates matter more
• The portfolio seeks to invest in globally dominate companies that have demonstrated the ability and intention of paying consistent, rising dividends to attempt to provide a continually increasing income stream to counteract the impact of inflation.
• The CORE DIVIDENDS® portfolio may be appropriate for investors who might be worried they are running out of time to position themselves for financially secure retirement
• For Investors in accumulation mode, this core portfolio's goal of compounding dividend growth may help build meaningful long-term wealth
Core Appreciation
The primary objective of the CORE APPRECIATION portfolio is to grow wealth in a concentrated portfolio of companies that demonstrate efficient use of capital and resources.
The portfolio aims to buy high quality stocks from broad economic sectors for appreciation over the calendar year.
CORE APPRECIATION can be appropriate for investors willing to tolerate fluctuations in a concentrated growth portfolio over the one year holding period. The unique investment style of CORE APPRECIATION should complement broadly diversified investment accounts.
The Strategy's primary objective is capital appreciation, income is a secondary objective.
Morgan Stanley's comprehensive suite of Tax Resources and Digital Tools have carefully been designed to help enhance each aspect of your financial portfolio. Take some time to learn about the many Modern Wealth Management Resources that we offer to our clients
Total Tax 365
Taxes can be a substantial drag on investment returns. Morgan Stanley Total Tax 365 offers access to a broad range of tax-efficient strategies to help you integrate tax planning into your investment process all year long. Maximize portfolio after-tax return potential and help keep more of what you earn
Learn More
2025 Tax Tables
These documents provide you key tax and contribution information for your taxes this year.
Access the 2025 Tax Tables
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Seamlessly and securely manage your investments and everyday finances in one place with Morgan Stanley Online (MSO) and the Morgan Stanley Mobile App.
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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
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Security Center
Learn about out latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
Visit our Security Center
Goals Based Planning
Working with us, paired with out technology, is a great way to access advice and build a wealth plan. Read more about the advantages of working with out planning technology in reaching your financial goals.
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Mobile App Check Deposit
With the Morgan Stanley App, you can use the mobile check deposit feature to deposit checks drawn on a U.S. bank, anytime, anywhere from your device.
eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App.
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Reserved Living and Giving
Reserved Living & Giving is a complimentary loyalty program available to clients with a minimum of $1M in AUM. It can help clients save time and money on travel, gifts, automobiles and more.
Learn More about MS Reserved
Financial Well Being Checklist
Dealing with death is never easy. Aside from coping with the loss of a loved one, legal matters also require immediate attention. That is why we help you plan ahead to ensure that your wishes and your will are followed.
Learn MoreOur Process
We recognize that clients have different needs and objectives. Consequently we work hard to understand their priorities, whether they are retirement planning, education planning, growing wealth to leave a legacy or reacting to an unanticipated life changing event. After priorities are clearly defined we customize a strategy and a monitoring process specific to each client.
1. Introductory Call
We begin with an informal conversation to understand your financial concerns and determine how we can add value. From this conversation we'll schedule our next meeting during which we will review important financial information
2. Get to Know You Meeting
We continue the dialogue by conducting an in-depth conversation where we learn about the values that shape your decisions and identify any unique circumstances. We also review the documents you've prepared and define your priorities
3. Analysis & Plan Development
Here we utilize proprietary financial planning tools to develop a personalized and detailed plan with recommendations to help you grow, preserve and transfer your wealth.
4. Implementation
In this step, we present appropriate strategies that are designed to work together to achieve your goals. upon your approval, we open new accounts for you at Morgan Stanley and initiate our investment recommendations. We'll also begin to implement other strategies we've discussed. These often encompass tax management strategies, as well as risk management and estate planning strategies.
5. Ongoing Commitment
Ongoing communication and commitment is the foundation of a successful collaboration with you. We will make every effort to keep abreast of your evolving financial needs and priorities, and provide viable strategies to help you meet them.
6. Review & Evaluation
We review your financial plan on a regular basis, making changes as necessary to help ensure you continue to make progress toward your financial goals.
Unique Careers in Sports & Entertainment
At The Headwaters Group we know firsthand that a career in sports and entertainment industry comes with unique benefits and challenges.
Our goals is to help you navigate your unique lifestyle and strive to ensure your future doesn't become another statistic. Much like sports, you need to build the right team to help put you in a favorable position for the future.
During my time as a college and professional athlete I witnessed and learned firsthand the financial ruin that thousands of professional athletes face when they don't have the support network in place.
Who do you let on your bus?
Roughly 78% of all career athletes either go bankrupt or face some severe financial stress within three years of ending their playing careers.
Understanding your SUPER power of Saying No!
The work you put into your unique athletic career should not be wasted the moment you step off the field.
At Morgan Stanley we can provided you with:
- Professional Guidance: Gain access to advice from a former professional athlete now Financial Advisor.
- Educational Workshops: Tailored seminars on budgeting, investing, & financial literacy.
- One on One Calls & Relationships: Strategies designed to fit the unique needs of student-athletes.
- Global Firm Rooted in Client Experience: Wherever your career or life takes you, we can be a resource.
Our Services:
- Future Career Planning: There is life after sports, prepare for your future with a solid financial foundation.
- Cash Management: Understanding and learning to control the flow of money in your life.
- Financial Planning: Develop a roadmap and accountability to help put you on a path to where you want to go.
- Investment Management: Build and grow your wealth with dedicated guidance.
- Risk Management: Help preserve your assets and plan for unexpected events.
Get Started Today:
- Schedule a call to discuss individualized needs, questions, & goals.
- Visit our website for additional resources and tools to enhance your financial knowledge.
Location
225 South 6th St
Ste 5300
Minneapolis, MN 55402
US
Direct:
(612) 340-6728(612) 340-6728
Toll-Free:
(800) 786-6770(800) 786-6770
Meet The Headwaters Group
Hans Brase, CEPA®, QPFC
Financial Advisor, Financial Planning Specialist
Phone:
(612) 340-6710(612) 340-6710
Melissa T Korzenowski
Wealth Management Associate
Phone:
(612) 340-6758(612) 340-6758
About Ted R. Larson
Ted is a Financial Advisor with The Headwaters Group at Morgan Stanley. At Morgan Stanley since 2014, he has found a place for matching his passion for the financial markets with impactful client care. Providing advice and solutions for each client’s unique objectives is his daily driver.
He recognizes that the strongest relationships are strengthened by preparing for, and attending to, the inevitable life events clients will encounter.
Ted is proud to represent the fifth generation of his family from the St Croix River Valley. He currently resides in downtown Minneapolis, but will someday return to “the Valley”
He earned his Bachelors Degree in Finance and Financial Markets from University of Minnesota Duluth as well as his Masters Degree in Personal Financial Planning from the University of Missouri. He also is a CERTIFIED FINANCIAL PLANNER™ professional and has earned the Chartered Retirement Plans Specialist™ designation.
When not in the office, Ted can be found boating and fishing on “The River”, hunting in South Dakota, golfing, cooking, working out or competing in just about any sport.
He recognizes that the strongest relationships are strengthened by preparing for, and attending to, the inevitable life events clients will encounter.
Ted is proud to represent the fifth generation of his family from the St Croix River Valley. He currently resides in downtown Minneapolis, but will someday return to “the Valley”
He earned his Bachelors Degree in Finance and Financial Markets from University of Minnesota Duluth as well as his Masters Degree in Personal Financial Planning from the University of Missouri. He also is a CERTIFIED FINANCIAL PLANNER™ professional and has earned the Chartered Retirement Plans Specialist™ designation.
When not in the office, Ted can be found boating and fishing on “The River”, hunting in South Dakota, golfing, cooking, working out or competing in just about any sport.
Securities Agent: OK, AL, DE, VA, NM, NE, PA, NY, NV, NH, ND, CO, TX, IA, NJ, NC, MT, CA, SD, DC, MN, MD, AZ, WI, MO, MI, MA, IL, AR, AK, WA, TN, OR, GA, SC, IN, OH, LA, KS, FL; General Securities Representative; Investment Advisor Representative
NMLS#: 1270229
NMLS#: 1270229
About Hans Brase
Hans is a Financial Advisor with The Headwaters Group at Morgan Stanley. He joined Morgan Stanley after a successful professional basketball career in Germany.
Hans is passionate about matching his financial markets knowledge with the unique goals and ambitions of clients. Drawing from his diverse life experiences, he can relate to each client’s different needs and how to integrate them into a comprehensive strategy. No two investors have the same goals, wants, and timelines. Customized investment strategies to reflect unique investment goals are at the core of his approach.
Hans graduated from Princeton University with a Bachelors in Sociology. He earned a Masters in Business Administration and Community Development from Iowa State University. Hans is a Financial Planning Specialist as well as a Certified Exit Planning Advisor (CEPA®) and Qualified Plan Financial Consultant (QPFC).
A son of German immigrant parents, Hans grew up outside of Charlotte, North Carolina in Clover, South Carolina where his parents still reside. He and his wife Madeleine, a Northern St. Paul native, live in North Oaks with their golden retriever Louie.
Away from the office, Hans enjoys working out, golfing, working in the yard, and watching or playing all sports.
Hans is passionate about matching his financial markets knowledge with the unique goals and ambitions of clients. Drawing from his diverse life experiences, he can relate to each client’s different needs and how to integrate them into a comprehensive strategy. No two investors have the same goals, wants, and timelines. Customized investment strategies to reflect unique investment goals are at the core of his approach.
Hans graduated from Princeton University with a Bachelors in Sociology. He earned a Masters in Business Administration and Community Development from Iowa State University. Hans is a Financial Planning Specialist as well as a Certified Exit Planning Advisor (CEPA®) and Qualified Plan Financial Consultant (QPFC).
A son of German immigrant parents, Hans grew up outside of Charlotte, North Carolina in Clover, South Carolina where his parents still reside. He and his wife Madeleine, a Northern St. Paul native, live in North Oaks with their golden retriever Louie.
Away from the office, Hans enjoys working out, golfing, working in the yard, and watching or playing all sports.
Securities Agent: MO, AL, OR, MT, KY, SD, SC, PA, MN, UT, NY, NM, NC, MD, IL, HI, GA, FL, CO, AZ, WV, RI, ME, ID, WY, VI, MS, VT, PR, TX, ND, LA, CT, CA, TN, NV, NJ, MA, IA, AK, WI, VA, OK, DE, WA, OH, NE, MI, KS, IN, DC, AR, NH; General Securities Representative; Investment Advisor Representative
NMLS#: 2509755
NMLS#: 2509755
About Melissa T Korzenowski
Melissa is a Wealth Management Associate with over 30 years of experience at Morgan Stanley. Melissa has held several long-term positions at Morgan Stanley including Senior Registered Associate and Mid-level Management positions. She has been a Complex Manager Assistant, Branch Administrator, Compliance and Risk Administrator, and Branch Manager's Assistant. She is Series 7, 63, 9 and 10 licensed.
Contact Ted R. Larson
Contact Hans Brase
Wealth Management
From Our Team
How to Take the Emotion Out of Investing
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
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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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
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
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
Ready to start a conversation? Contact The Headwaters Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan Stanley 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.
2Morgan 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.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should 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.
4Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Municipal 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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
8Morgan 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.
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.
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.
11Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12Morgan 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
13Morgan 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.
14Morgan 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.
15Morgan 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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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 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
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.
2Morgan 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.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should 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.
4Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Municipal 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.
7Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
8Morgan 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.
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.
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.
11Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12Morgan 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
13Morgan 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.
14Morgan 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.
15Morgan 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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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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.
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Awards Disclosures
CRC 6491812 (04/2024)
