William May
Managing Director, Wealth Management, Wealth Advisor, Corporate Client Group Director
Phone:
(770) 643-7676(770) 643-7676
The May Group at Morgan Stanley
Direct:
(800) 785-3144(800) 785-3144
Toll-Free:
(800) 785-3144(800) 785-3144
Our Mission Statement
Providing the highest level of service to inspire confidence, clarity, and results.
Our Story
Since establishing his practice in 1984, Will May has grown The May Group into a robust, highly knowledgeable and nimble team of professionals. From an established foundation backed by the vast resources of Morgan Stanley, our team operates with an entrepreneurial mindset, deftly anticipating our clients’ needs while delivering sound financial counsel with confidence and ease.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Workplace Advisor - Equity Compensation
As Morgan Stanley Workplace Advisors – Equity Compensation, we have specific training and education on company specific stock plans that uniquely positions us to service our clients. We assist our clients in determining how to best use their equity compensation in the context of a greater financial strategy that is tailored to their specific needs.
We answer questions on the full suite of workplace benefits. Learn more about our approach and some of the common types of equity compensation we deal with:
We answer questions on the full suite of workplace benefits. Learn more about our approach and some of the common types of equity compensation we deal with:
Our Approach
When you own company equity, you become a shareholder in your company. Equity programs vary widely, so it's important to understand the details and how it fits into your financial plan.
Learn more about our approach
Stock Options
Employee Stock Options (ESOs) give an employee the right - not the obligation - to purchase company shares at a fixed, predetermined price. ESOs typically have a vesting period, during which the employee must remain with the company to be able to exercise the options.
Learn more
Restricted Stock Units (RSUs)
Another form of equity compensation, RSUs represent a promise by the company to issue shares of stock to an employee. When granted RSUs, they do not receive any actual shares of stock. They are instead awarded a number of units that represent the right to receive shares at a specified point in the future, and they tend to vest over a period of time.
Learn more
Employee Stock Purchase Plans (ESPPs)
An optional benefit offered by certain companies that allows employees to purchase company stock at a discounted price. ESPPs typically operate through payroll deductions, where employees contribute a portion of their salary to purchase company stock. They can be either qualified or non-qualified, each having different tax treatment.
Learn more
Best-In-Class Rule 10b5-1 and 144 Transaction Serivces
Morgan Stanley has been #1 in Rule 144 Sales and the #1 provider of 10b5-1 services over the last 18 years.
Learn more about what sets our Executive Services apart.
Read moreLearn more about what sets our Executive Services apart.
Covered Call Strategy
A covered call strategy is an options trading strategy often employed by investors with concentrated stock positions. It is primarily used for income generation, risk mitigation, and enhancing the overall risk-return profile.
Learn moreOur Clients
Corporate Executives
Over the years, we have provided corporate executives with nuanced financial advice, and strategize executive compensation, bonuses, deferred compensation, stock options and restricted stock. We understand the time and dedication it has taken to accumulate the money many executives have earned, and we make it our goal to assist them in navigating the complicated financial landscape.
Institutions
Our team provides astute financial counsel to institutions and corporations. We assist institutions on all ends of their financial picture by helping them manage resources effectively, develop investment strategies, and establish a sound risk management plan. For corporations, we manage retirement plans and ensure that they stay on track to meet its long-term goals.
Families
For families, we provide a wide range of services to help them reach their financial goals. We create comprehensive strategies that can include budgeting, investing, retirement planning, and estate planning – making sure to maintain flexibility for when unpredictable circumstances inevitably arise. With a boutique level of service, we provide ongoing support with regular check-ins that help to keep our clients on track.
Our clients come to us with the following questions:
• How do I ensure a secure and stress-free retirement in the midst of volatile markets
• When will I be able to retire?
• What are the potential risks associated with my equity compensation?
• How can I plan a secure future for my children?
• How can I diversify my portfolio when a significant amount of my net worth is tied up in equity compensation?
• What does the new tax law mean to my investments?
• How can I set aside assets to gift and still maintain my current lifestyle?
• When will I be able to retire?
• What are the potential risks associated with my equity compensation?
• How can I plan a secure future for my children?
• How can I diversify my portfolio when a significant amount of my net worth is tied up in equity compensation?
• What does the new tax law mean to my investments?
• How can I set aside assets to gift and still maintain my current lifestyle?
Our Suite of Services
Wealth Consulting
We provide comprehensive financial advice to high-net-worth individuals and families. By taking the time to get to know our clients, we understand what makes their situation unique. Through a well thought out investment strategy, we help clients navigate complex financial issues such as tax planning, estate planning, and risk management.
Executive Financial Services
We provide customized financial advice and support to high-level executives. Our financial guidance ranges from investment management, estate planning, retirement planning, and executive compensation packages including stock options and other forms of equity compensation.
Corporate Retirement Plans
Businesses trust us to help them design, implement, and manage their employee retirement plans. We provide guidance on investment options, plan design and advise businesses on how to communicate the benefits of their retirement plans to their employees. By offering ongoing support, adjustments, and management of plan expenses, we help ensure the plan remains effective over time.
Philanthropic Services
Our team offers guidance to individuals, families, and organizations interested in making charitable donations or establishing foundations. We help create philanthropic strategies on behalf of our clients that align with their values and goals. Also, we provide advice on and access to on tax-efficient giving strategies, such as donor-advised funds or charitable trusts.
Retirement Planning
It’s never too early to prepare for retirement. We help our clients navigate a wide scope of retirement issues by estimating retirement expenses, determining retirement income needs, and creating a retirement savings plan. In addition, we work to optimize any Social Security benefits and manage retirement account distributions.
Financial Planning
For wealthy individuals, it can be especially challenging to budget, save and invest efficiently. We work closely with our clients to develop a custom plan that addresses the specific needs they have for themselves and their families. Once the plan is in motion, we check in regularly to ensure that they are on track to reach their goals.
Make the most of your equity
We make it our goal to demystify equity compensation so that you can make the most of yours. To learn more about the basics of equity compensation, the different types of compensation packages from stock options to ESPPs, and different ways you can leverage your compensation within your larger wealth management strategy - consider exploring some of the resources below.
Basic Equity Compensation Guide
Discover Equity CompWhat is a Restricted Stock Unit?
Learn about RSUs
What is an Incentive Stock Option?
Learn about ISOs
What is an Employee Stock Purchase?
Learn about ESPPs
What's the Difference Between an RSU and Stock Options?>
RSUs versus Stock Options
Using Equity Compensation to Optimize Taxes
4 ways to optimize
Using Equity Compensation for Education Planning
Discover Strategies
Using Equity Compensation to Reach Your Financial Goals
Discover StrategiesLocation
2400 Lakeview Pkwy
Suite 300
Alpharetta, GA 30009
US
Direct:
(800) 785-3144(800) 785-3144
Toll-Free:
(800) 785-3144(800) 785-3144
Meet The May Group
Senior Vice President, Wealth Management, Financial Advisor, Family Wealth Advisor, Senior Portfolio Management Director
Phone:
(770) 643-7674(770) 643-7674
Vice President, Wealth Management, Financial Advisor, Portfolio Management Director, Workplace Advisor - Equity Compensation
Assistant Vice President, Wealth Management, Financial Advisor, Financial Planning Specialist, Workplace Advisor – Equity Compensation, Senior Portfolio Manager
Adam Stowell
First Vice President, Business Development Director
Phone:
(770) 643-7696(770) 643-7696
Suzanne Rider
First Vice President, Director of Business Strategy
Phone:
(770) 664-3414(770) 664-3414
Cristy Speer
Portfolio Associate
Phone:
(770) 643-7675(770) 643-7675
Jordan Yeater
Phone:
(770) 643-7673(770) 643-7673
About William May
William May is the Managing Director and founder of The May Group at Morgan Stanley, where he leads a distinguished team specializing in comprehensive wealth management solutions for corporate executives, Section 16 insiders, and board members. With over four decades of experience in the financial services industry, Will has built a reputation for delivering strategic guidance tailored to the complexities of equity compensation and stock plan administration.
Since joining Morgan Stanley in 1984, Will has been instrumental in developing customized financial strategies that address the evolving needs of executives across diverse sectors, including Energy, Financials, Healthcare, Industrials, Technology, and Utilities. A thought leader in the field, he co-founded and served as chapter president of the National Association of Stock Plan Professionals (NASPP) – Atlanta Chapter.
Under Will’s leadership, The May Group has grown into one of the premier advisory teams within Morgan Stanley. He holds a Bachelor of Science in Marketing from Georgia State University.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Since joining Morgan Stanley in 1984, Will has been instrumental in developing customized financial strategies that address the evolving needs of executives across diverse sectors, including Energy, Financials, Healthcare, Industrials, Technology, and Utilities. A thought leader in the field, he co-founded and served as chapter president of the National Association of Stock Plan Professionals (NASPP) – Atlanta Chapter.
Under Will’s leadership, The May Group has grown into one of the premier advisory teams within Morgan Stanley. He holds a Bachelor of Science in Marketing from Georgia State University.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Securities Agent: AR, DE, PA, MO, LA, IN, HI, VI, OH, NY, NC, MN, MD, IA, CT, CO, AZ, WA, PR, OK, NH, KY, IL, UT, MT, GA, CA, WY, RI, ME, KS, VT, NJ, DC, VA, TX, TN, NM, ID, AL, WV, ND, MS, MI, MA, AK, OR, NV, NE, WI, SD, SC, FL; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1409799
NMLS#: 1409799
About J. Michael Gray
J. Michael Gray is a Senior Vice President and Senior Portfolio Management Director at The May Group at Morgan Stanley, where he delivers comprehensive wealth management strategies tailored to corporate executives, entrepreneurs, and high-net-worth families. With over 16 years of experience, Michael has developed a reputation for his deep expertise in investment management, risk assessment, and financial planning, helping clients navigate the complexities of wealth accumulation, preservation, and transfer.
As both a Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP), Michael is committed to the highest standards of professional integrity and market expertise. His insights into wealth accumulation and preservation strategies empower clients to navigate complex financial decisions with confidence.
Outside of work, Michael is a fair-weather golfer, instrument rated private pilot, blue-water enthusiast, occasional mountaineer, and an amateur apiarist. Most importantly, Michael values his role as a husband and father. He and his wife have three daughters and are active in the Atlanta community as members of Johnson Ferry Baptist Church and with Orchard Resources, a faith-based nonprofit, where Michael serves as Chairman of the Board.
2024, 2023 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State
Source: Forbes.com (Awarded 2023, 2024), data compiled by SHOOK Research LLC for the period 3/31/22 - 3/31/23.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
As both a Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP), Michael is committed to the highest standards of professional integrity and market expertise. His insights into wealth accumulation and preservation strategies empower clients to navigate complex financial decisions with confidence.
Outside of work, Michael is a fair-weather golfer, instrument rated private pilot, blue-water enthusiast, occasional mountaineer, and an amateur apiarist. Most importantly, Michael values his role as a husband and father. He and his wife have three daughters and are active in the Atlanta community as members of Johnson Ferry Baptist Church and with Orchard Resources, a faith-based nonprofit, where Michael serves as Chairman of the Board.
2024, 2023 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State
Source: Forbes.com (Awarded 2023, 2024), data compiled by SHOOK Research LLC for the period 3/31/22 - 3/31/23.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Securities Agent: WY, NY, WI, VA, NH, SD, WV, WA, VT, VI, UT, TX, TN, SC, RI, PR, PA, OR, OK, OH, NV, NM, NJ, NE, ND, NC, MS, MO, MN, MI, ME, MD, MA, KY, KS, IN, IL, ID, IA, HI, GA, FL, DE, DC, CT, CO, CA, AZ, MT, AR, AL, AK, LA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1279030
NMLS#: 1279030
About William L May II
William L. May II is a Vice President and Senior Portfolio Manager at The May Group, where he specializes in designing and implementing customized financial strategies for individuals with concentrated holdings, entrepreneurs, and private foundations. Since joining Morgan Stanley in 2013, Bill has played a pivotal role in managing the group’s investment portfolios and driving business development initiatives.
Prior to his tenure at Morgan Stanley, Bill honed his 3 experience at NCR Corporation within the Manufacturing and Global Operations divisions. He serves on the board of North Metro Georgia Tech, helping to provide scholarships to incoming Georgia Tech students.
Bill earned a Bachelor of Science in Industrial Engineering with a Certificate in Finance from the Georgia Institute of Technology. Bill and his wife have two young children. The family lives Peachtree Corners where they enjoy traveling and supporting their favorite sports teams.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Prior to his tenure at Morgan Stanley, Bill honed his 3 experience at NCR Corporation within the Manufacturing and Global Operations divisions. He serves on the board of North Metro Georgia Tech, helping to provide scholarships to incoming Georgia Tech students.
Bill earned a Bachelor of Science in Industrial Engineering with a Certificate in Finance from the Georgia Institute of Technology. Bill and his wife have two young children. The family lives Peachtree Corners where they enjoy traveling and supporting their favorite sports teams.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Securities Agent: MD, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY, ME, AR, AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1285250
NMLS#: 1285250
About Charles Shakar
Charles Shakar is a Financial Advisor and Financial Planning Specialist at The May Group, where he provides sophisticated wealth management solutions to corporate executives and entrepreneurs.
Charles joined the team shortly after beginning his career at Morgan Stanley and has since become an integral part of the client service experience. He assists clients with portfolio reviews, asset protection strategies, and philanthropic planning.
A native of Atlanta, Charles earned his degree from the University of Alabama, where he previously served on the local Alumni Chapter board. He resides in Alpharetta with his wife and three children and enjoys spending his free time on the golf course or with his family.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Charles joined the team shortly after beginning his career at Morgan Stanley and has since become an integral part of the client service experience. He assists clients with portfolio reviews, asset protection strategies, and philanthropic planning.
A native of Atlanta, Charles earned his degree from the University of Alabama, where he previously served on the local Alumni Chapter board. He resides in Alpharetta with his wife and three children and enjoys spending his free time on the golf course or with his family.
2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based on time period from 3/31/23-3/31/24
Securities Agent: KS, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY, KY, CO, AK, AL, AR, AZ, CA, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN; General Securities Representative; Investment Advisor Representative
NMLS#: 1636244
NMLS#: 1636244
About Adam Stowell
Adam Stowell brings nearly two decades of experience in banking and stock plan administration to his role as Business Development Director at The May Group. Beginning his career in banking in 2006, Adam transitioned in 2011 to specialize in stock plan administration and 10b5-1 plans, supporting corporate executives with equity transactions and ensuring adherence to complex regulatory requirements.
In his role, Adam leads business development efforts and provides strategic operational support to enhance The May Group’s ability to deliver high-quality, customized services. His experience in equity compensation strategy helps organizations optimize compensation structures, improve employee engagement, and maintain compliance.
Adam holds a Bachelor of Business Administration (BBA) in Management and a Master of Business Administration (MBA) from Kennesaw State University. In 2019, he earned the Certified Equity Professional (CEP) designation, highlighting his technical proficiency in equity compensation, tax considerations, and regulatory frameworks.
In his role, Adam leads business development efforts and provides strategic operational support to enhance The May Group’s ability to deliver high-quality, customized services. His experience in equity compensation strategy helps organizations optimize compensation structures, improve employee engagement, and maintain compliance.
Adam holds a Bachelor of Business Administration (BBA) in Management and a Master of Business Administration (MBA) from Kennesaw State University. In 2019, he earned the Certified Equity Professional (CEP) designation, highlighting his technical proficiency in equity compensation, tax considerations, and regulatory frameworks.
About Suzanne Rider
Suzanne Rider brings nearly four decades of financial services expertise to her role as First Vice President and Director of Business Strategy at The May Group. With a proven track record of leadership, operational excellence, and strategic vision, Suzanne plays an integral role in shaping the team’s approach to serving corporate executives and high-net-worth clients.
Before joining The May Group, Suzanne spent 32 years at Morgan Stanley in various senior roles, most recently as Market Business Service Officer for the Atlanta Perimeter Market. In this capacity, she oversaw service leadership, process improvement, and team culture, directly contributing to the success and efficiency of one of the firm’s most prominent markets. Her depth of experience and ability to streamline complex operations make her an invaluable resource for both clients and colleagues.
A native of Atlanta, Suzanne studied French and Business at Vanderbilt University. She is an avid cook, voracious reader, and dedicated NYT Games enthusiast. Suzanne and her husband share a recently empty nest and enjoy cheering on their four adult children as they pursue their own endeavors.
Before joining The May Group, Suzanne spent 32 years at Morgan Stanley in various senior roles, most recently as Market Business Service Officer for the Atlanta Perimeter Market. In this capacity, she oversaw service leadership, process improvement, and team culture, directly contributing to the success and efficiency of one of the firm’s most prominent markets. Her depth of experience and ability to streamline complex operations make her an invaluable resource for both clients and colleagues.
A native of Atlanta, Suzanne studied French and Business at Vanderbilt University. She is an avid cook, voracious reader, and dedicated NYT Games enthusiast. Suzanne and her husband share a recently empty nest and enjoy cheering on their four adult children as they pursue their own endeavors.
About Cristy Speer
With over three decades of experience in financial services, Cristy Speer serves as a Portfolio Associate at The May Group. She provides critical operational support, ensuring clients receive timely and accurate financial solutions, concierge level service and a seamless experience. Her strength in building deep and abiding relationships with our clients enhances her importance to the team.
Before joining The May Group in 2023, Cristy spent most of her 17 years here at Morgan Stanley in a similar role and also served as a Client Service Associate Coach, where she trained new associates and implemented best practices across the organization. Cristy resides in Cumming, GA, with her son and actively supports local animal shelters.
Before joining The May Group in 2023, Cristy spent most of her 17 years here at Morgan Stanley in a similar role and also served as a Client Service Associate Coach, where she trained new associates and implemented best practices across the organization. Cristy resides in Cumming, GA, with her son and actively supports local animal shelters.
About Jordan Yeater
As a Registered Client Service Associate, Jordan Yeater plays a crucial role in delivering an exceptional client experience at The May Group. With a strong dedication to operational excellence and client engagement, Jordan helps ensure seamless service execution.
After earning a Bachelor of Science from Georgia College & State University in 2023, Jordan pursued her passion for customer service. She enjoys an active lifestyle in Alpharetta, including fitness, pickleball, and travel.
After earning a Bachelor of Science from Georgia College & State University in 2023, Jordan pursued her passion for customer service. She enjoys an active lifestyle in Alpharetta, including fitness, pickleball, and travel.
Contact William May
Contact J. Michael Gray
Contact William L May II
Contact Charles Shakar
Wealth Management
Global Investment Office
Portfolio Insights
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
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
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
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
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Financial Planning for Life After Selling a Business
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The May Group today.
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1When 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.
2Morgan 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.
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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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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1When 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.
2Morgan 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.
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.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
6Morgan 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.
7Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
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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
CRC 6491812 (04/2024)
