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:
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    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
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    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
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    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

Our 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?

Our Suite of Services

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    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.
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    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.
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    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.
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    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.
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    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.
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    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.

WORKPLACE FINANCIAL BENEFITS WITH MORGAN STANLEY AT WORK

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

    Equity Solutions

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

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

    Learn more
    Retirement

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

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

    Learn more
    Deferred Compensation

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

    Services include:

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

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

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

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

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

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

    • Financial Education
    • Digital Tools
    • Financial Guidance

    Learn more

Location

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

Photo of William May

William May

Managing Director, Wealth Management, Wealth Advisor, Corporate Client Group Director
Phone:
(770) 643-7676(770) 643-7676
Photo of Adam Stowell

Adam Stowell

First Vice President, Business Development Director
Phone:
(770) 643-7696(770) 643-7696
Photo of Suzanne Rider

Suzanne Rider

First Vice President, Director of Business Strategy
Phone:
(770) 664-3414(770) 664-3414
Photo of Cristy Speer

Cristy Speer

Portfolio Associate
Phone:
(770) 643-7675(770) 643-7675
Photo of Katlyn Bradach

Katlyn Bradach

Registered Client Relationship Analyst
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
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

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
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

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 expertise 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 in 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

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
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

About Chris Birozes

Chris Birozes is a dedicated Financial Advisor who focuses on helping families of corporate executives, business owners, and professionals manage their wealth. His practice focuses on investment strategy, retirement planning, cash-flow structure, and risk management, helping provide clients with clarity and confidence in their financial decisions.

Chris graduated from Wingate University. As a student-athlete, he was the starting punter for the Wingate Football team, earning multiple distinctions, including Academic All-American honors and the SAC Scholar-Athlete Award. His personal experiences have shaped his commitment to providing thoughtful financial guidance to his clients.

During college, Chris faced a major health challenge that gave him a deep appreciation for the impact professionals can have during life's most difficult moments. That experience inspired him to help others in a different way—helping guide families toward financial confidence. His goal is to make your life easier, so you can focus on what matters most.

Professionally, Chris began his career as an Advisor at Bank of America Merrill Lynch in Charlotte, North Carolina, where he spent over five years developing personalized financial planning and investment strategies for clients.

Outside of work, Chris and his wife, Gabby have four children—Brooks, Lucile, Mary Lowen, and Lenora. When he is not taking care of his four young kids, he enjoys running, playing golf, and traveling with his wife, Gabby.
Securities Agent: IL, DE, SC, NY, MD, HI, CT, WV, SD, MS, MA, IA, UT, NV, CA, PR, OK, OH, NM, MN, KS, ID, GA, WA, TN, PA, NJ, DC, NC, KY, CO, WI, VT, NE, ND, MI, FL, VI, VA, RI, ME, IN, AK, WY, TX, LA, AZ, AR, AL, OR, NH, MT, MO; General Securities Representative; Investment Advisor Representative

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.

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.

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.

Awards and Recognition

Forbes Best-In-State Wealth Management Teams
2025-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2025-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Wealth Management
Global Investment Office

Portfolio Insights

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Equity Compensation

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

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

Family

Creating customized financial strategies for the challenges that today’s families face.
  • Estate Planning Strategies
  • 529 Plans / Education Savings Planning
  • Long Term Care Insurance
  • Special Needs Planning
  • Trust Services
Learn More about Family
529 Plans: A Powerful Tool to Save for Education
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529 Plans: A Powerful Tool to Save for Education

Though education costs continue to climb, starting to save and invest early can make a difference.

Investing

Working closely with you to guide your wealth and investments through the most challenging market cycles.
  • Asset Management
  • Wealth Planning
  • Traditional Investments
  • Alternative Investments
  • Impact Investing
Learn More about Investing
Rational Investing in an Age of Uncertainty
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Rational Investing in an Age of Uncertainty

When it comes to investing, even the most savvy of us fall prey to bias and emotional trades. So what triggers should you watch for?

Retirement

Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
  • 401(k) Rollovers
  • IRA Plans
  • Retirement income strategies
  • Retirement plan participants
  • Annuities
Learn More about Retirement
A Simple Six-Step Retirement Checkup
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A Simple Six-Step Retirement Checkup

Checking in on your retirement plan may make a lot of sense, especially when market volatility arises.

Business Planning

Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
  • Succession Planning
  • Business Planning
  • Qualified Retirement Plans
Learn More about Business Planning
Financial Planning for Life After Selling a Business
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Financial Planning for Life After Selling a Business

Selling your business can mean big changes for your life, both personally and financially. Know how to make the most of your windfall.

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.
Learn More about Financial Wellness
The Business Case for a Financially Resilient Workforce
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The Business Case for a Financially Resilient Workforce

In the face of turbulent markets, the word “resilience” may be top of mind. Broadly speaking, resilience is the ability to “bounce back” when encountering life’s inevitable challenges.
Ready to start a conversation? Contact The May Group today.
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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.

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.

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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.

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3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.

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4Morgan Stanley Smith Barney LLC (“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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5When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.

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6Morgan 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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7Morgan 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.

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8Participating 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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*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.

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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)