William McCleneghen
Senior Vice President, Wealth Management, Financial Advisor
Phone:
(561) 393-1893(561) 393-1893
Our Mission Statement
We help empower you in an effort to achieve financial success by navigating life’s inevitable transitions with more confidence and control. We do this by leveraging the deep experience of our team and the world-class resources of Morgan Stanley.
Our Story and Services
Backed by the resources of a global powerhouse, The McCleneghen-Litrento Group at Morgan Stanley works hard to provide clients with the finest financial thinking, products, and execution through tailored advice and world-class wealth management services. We identify key issues and leverage our team's experience and world-class resources to help deliver strategies and solutions that can meet our client's investment objectives.
Our mission is to help our clients efficiently attain their life goals and make wise investment decisions through professional relationships based on uncompromising integrity, trust, and personalized service. We are dedicated to providing our clients with the resources needed, and strive to enhance their financial and social capital, while seeking optimization and preservation of their legacy.
Services Include
- Retirement PlanningFootnote1
- Trust ServicesFootnote2
- Alternative InvestmentsFootnote3
- Business PlanningFootnote4
- Estate Planning StrategiesFootnote5
- Fixed IncomeFootnote6
- Professional Portfolio ManagementFootnote7
- Corporate Retirement PlansFootnote8
- Cash Management and Lending ProductsFootnote9
- Long Term Care InsuranceFootnote10
- Life InsuranceFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Planning Deep Dive
The McCleneghen-Litrento Group's financial planning process begins with an information gathering session to understand your investment objectives and your financial goals. Bill and Mike have dedicated their careers to ensure every client has an individual financial approach that will encompass investments, cash management needs, and all parts of financial life to make sure they align with your goals and wealth management plan.
Our process is designed to adapt to your evolving financial goals. Bill and Mike will consistently monitor, modify, and update these plans. Quarterly or semi-annual reviews will be conducted to ensure your goals are on track with the changing circumstances of your life.
Our process is designed to adapt to your evolving financial goals. Bill and Mike will consistently monitor, modify, and update these plans. Quarterly or semi-annual reviews will be conducted to ensure your goals are on track with the changing circumstances of your life.
Goals Planning System
Goals Planning System (GPS) is Morgan Stanley's own integrated planning tool. Built on the firm's intellectual capital and capabilities, GPS is an intuitive and efficient platform used to quickly assess whether a client is "On Track" to achieving their financial goals.
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Strategy- Intelligent Withdrawals
It is vital to look at your entire portfolio and coordinate liquidation to help reduce the impact of taxes and potentially improve investment results. We are backed by sophisticated technology that enables us to look across multiple accounts and products to determine the right combination of securities and positions to sell for client needs.
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Education Planning
They're tax friendly, flexible and available to anyone. Yet, 529 education savings plans are still underused. Here are five things that parents, grandparents and anyone hoping to get a leg up on college costs need to know.
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Retirement Planning
While retirement may still be decades away, it’s essential to start planning and saving for the life you want. The path to your ideal retirement may have some twists and turns, but smart planning can help you reach your destination.
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Insurance
We take close examination at your financial profile to determine what type(s) of insurance most fit your needs and if your current insurance policies are best suited for you and your goals.
What We Provide
The McCleneghen-Litrento Group prides itself on being able to provide a wide variety of services to its clients weather it is retirement planning, planning for your children's future, tax planning and more. Below are many more services we provide and a quick introduction to our financial planning process.
Morgan 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 below.
Services We Provide
FINANCIAL PLANNING: Goal Setting Analysis, Retirement Income, Debt Analysis, Special Circumstances
INVESTMENT PLANNING: Security Recommendations, Economics, Asset Allocation Tax Efficient Investing
WEALTH PLANNING: Next Generation Planning, Legacy/Gift Planning, Philanthropic/ Charitable Planning, Family Governance
EXECUTIVE PLANNING: Incentive Compensation, Stock Options, Concentrated Positions, Stock Monetization
Our Tailored Process
DISCOVER: First we listen to you and learn all about what is important to you and your financial goals.
DEVELOP: Next, we look at current investments and use the provided information to build a plan suitable for your needs.
TRACK: Over time, we will Monitor, Modify, and Update the plan in place, to make sure it is on track.
REVIEW & UPDATE: Quarterly or semiannual reviews will be conducted to make any desired changes to your plan.
Modern Wealth Management Tools
Leveraging advanced analytical tools as well as the extensive resources of Morgan Stanley, The McCleneghen-Litrento Group can help you achieve your desired goals and bring you confidence in your financial future. The modern wealth management tools that we have adopted speak to our wealth management investment strategy and philosophy. We have provided descriptions about some of the technological tools we use down below:
Total Wealth View
With this service, you can view all your assets and liabilities together – whether held at Morgan Stanley or elsewhere – in one place for a comprehensive overview of your assets.
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Morgan Stanley Online (MSO)
When you sign up for MSO, you can conveniently and securely manage your account online or on your mobile device.
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Morgan Stanley Mobile App
The Morgan Stanley Mobile App gives you the same capabilities as Morgan Stanley Online – all from the convenience of your own phone. It also offers features to simplify your everyday finances.
Learn MoreGoals Planning System (GPS)
GPS is our financial planning software. It helps define what you want out of life, so we can create a financial framework to bring these goals to fruition.
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E-Authorization
With E-Authorization, you no longer need to sign a paper Letter of Authorization (LOA) to authorize a wire transfer request.
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E-Sign
E-Sign is a digital, paperless alternative to the traditional means of obtaining signatures for necessary paperwork. There is no registration process to begin using E-Sign - all you need is a valid email address and phone number.
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E-Delivery
E-Delivery allows you to securely save, print, send and receive documents at any time from both Morgan Stanley Online and the Morgan Stanley Mobile App.
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Digital Vault
The Digital Vault allows you to build a centralized library for all of your documents using encryption.
Learn MoreIn the Markets
We strive to simplify complex financial ideas so that our clients understand what is being done on their behalf to plan for their financial future. We are firm believers of giving our clients as many resources as possible so they can stay informed about the latest market trends, outlooks, and breakdowns. The links below provide detailed analysis on interesting topics that are affecting the finance and business worlds.
Slimmon's Take
Andrew Slimmon, lead portfolio manager of the Applied Equity Advisors suite of funds and strategies shares his takeaways and key expectations on the financial markets.
Read More
Morgan Stanley Ideas Podcast
From market-moving headlines and macro trends to investing themes shaping industries and portfolios, Morgan Stanley’s Thoughts on the Market features timely perspectives from our strategists and economists on what’s driving the global economy and financial markets. Click the link below to learn more and explore the latest episodes.
Listen here
Wealth Management Portfolio Insights
Timely market commentary, thought leadership, and portfolio ideas to help guide your investment decisions.
Read More
The Morgan Stanley Minute
Explore our 1-minute investment insights videos, in this on-going series, from our firm’s leading thinkers. Discover current investment trends and topics like green bonds, active investment, monetizing small businesses, cybercrime and more.
Watch hereAWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
4855 Technology Way
Suite 600
Boca Raton, FL 33431
US
Direct:
(561) 393-1893(561) 393-1893
Meet The McCleneghen-Litrento Group
Michael Litrento
Senior Vice President, Wealth Management, Financial Advisor
Phone:
(561) 393-1879(561) 393-1879
Perri Hazan
Portfolio Associate
Phone:
(561) 393-1840(561) 393-1840
Ilona Fialkin
Senior Registered Associate
Phone:
(561) 243-2229(561) 243-2229
Frank Anastasio
Client Service Associate
Phone:
(561) 393-1854(561) 393-1854
About William McCleneghen
William (Billy) McCleneghen is a Senior Vice President and seasoned Financial Advisor with a career spanning nearly three decades. Since 2013, he has been a senior partner of the McCleneghen-Litrento Group at Morgan Stanley, where he leverages his extensive experience to build enduring relationships with clients, helping them identify and achieve their financial goals. Billy's passion for the financial industry was sparked at a young age, with an early interest in the stock market and personal investing even before finishing high school.
Billy's journey into the financial services industry began in 1997 at Merrill Lynch, following the successful sale of his limousine business. His entrepreneurial spirit and dedication to client service have been the cornerstones of his approach, which emphasizes accessibility and personalized attention. Clients often commend Billy and his team for their dedication and availability, turning professional relationships into lasting friendships.
Together with his partner, Mike, and their invaluable client service associates, Perri and Ilona, Billy ensures that each client receives tailored solutions to their financial needs. This collaborative team structure is a testament to their commitment to exceptional client service.
Billy holds a Bachelor of Science degree in Business Administration and Public Relations from the University of Alabama. Roll Tide!
Outside of his professional life, Billy is deeply committed to his community. He actively participates in philanthropic organizations such as the Kids Cancer Foundation, Mission Fishin, The Lyme Disease Foundation, and the Oakstone Academy. A cancer survivor himself, Billy's involvement in these causes is both personal and profound.
Residing in Delray Beach, FL, with his wife Marina and their beloved Labrador Retriever, Maya, Billy cherishes his South Florida roots. He enjoys spending his free time boating, fishing, and scuba diving, sharing his love for the ocean with family and friends. Billy's close-knit family, including his siblings and their families, gather regularly for Sunday dinners.
Billy's journey into the financial services industry began in 1997 at Merrill Lynch, following the successful sale of his limousine business. His entrepreneurial spirit and dedication to client service have been the cornerstones of his approach, which emphasizes accessibility and personalized attention. Clients often commend Billy and his team for their dedication and availability, turning professional relationships into lasting friendships.
Together with his partner, Mike, and their invaluable client service associates, Perri and Ilona, Billy ensures that each client receives tailored solutions to their financial needs. This collaborative team structure is a testament to their commitment to exceptional client service.
Billy holds a Bachelor of Science degree in Business Administration and Public Relations from the University of Alabama. Roll Tide!
Outside of his professional life, Billy is deeply committed to his community. He actively participates in philanthropic organizations such as the Kids Cancer Foundation, Mission Fishin, The Lyme Disease Foundation, and the Oakstone Academy. A cancer survivor himself, Billy's involvement in these causes is both personal and profound.
Residing in Delray Beach, FL, with his wife Marina and their beloved Labrador Retriever, Maya, Billy cherishes his South Florida roots. He enjoys spending his free time boating, fishing, and scuba diving, sharing his love for the ocean with family and friends. Billy's close-knit family, including his siblings and their families, gather regularly for Sunday dinners.
Securities Agent: SC, NH, NC, KY, WV, AZ, PA, NV, MI, MD, NJ, CT, MN, IL, GA, FL, OR, MA, TN, TX, CO, CA, NY; General Securities Representative; Investment Advisor Representative
NMLS#: 1293998
CA Insurance License #: 4045306
NMLS#: 1293998
CA Insurance License #: 4045306
About Michael Litrento
Michael is a Senior Vice President, Financial Advisor and senior partner of the McCleneghen-Litrento Group since 2013. With a deep passion for financial markets, Michael is dedicated to helping his clients achieve their financial goals through an approach characterized by accessibility and comprehensive market knowledge. His commitment to constant communication and personalized service ensures that every client understands their investments and feels confident in their financial future.
Michael's journey into the financial services industry began in 2010, driven by his lifelong fascination with financial markets. His background in sports, including winning a national championship as a member of Lynn University's baseball team, instilled in him the values of hard work and perseverance, which he applies to his financial advisory practice.
Outside of his professional life, Michael is deeply committed to his community. He is a proud supporter of several charitable organizations, including the Kids Cancer Foundation, the Lyme Disease Foundation, Oakstone Academy, and Mission Fishin. His dedication to philanthropy is a testament to his beliefs about the importance of giving back.
Michael is happily married to Lauren Litrento, and they have two daughters, Shaelyn and Ainsley. Shaelyn is an avid equestrian and Ainsley is the family's little athlete. Family is a cornerstone of Michael's life, and he cherishes their time together, whether it's camping or enjoying beach vacations. Born and raised in Florida, Michael has a strong network of connections across various industries, which he leverages to benefit his clients.
Michael holds a Master's degree in Business Finance from Lynn University in Boca Raton, FL. His educational background, combined with his professional experience, equips him to provide financial guidance to his clients.
Michael's journey into the financial services industry began in 2010, driven by his lifelong fascination with financial markets. His background in sports, including winning a national championship as a member of Lynn University's baseball team, instilled in him the values of hard work and perseverance, which he applies to his financial advisory practice.
Outside of his professional life, Michael is deeply committed to his community. He is a proud supporter of several charitable organizations, including the Kids Cancer Foundation, the Lyme Disease Foundation, Oakstone Academy, and Mission Fishin. His dedication to philanthropy is a testament to his beliefs about the importance of giving back.
Michael is happily married to Lauren Litrento, and they have two daughters, Shaelyn and Ainsley. Shaelyn is an avid equestrian and Ainsley is the family's little athlete. Family is a cornerstone of Michael's life, and he cherishes their time together, whether it's camping or enjoying beach vacations. Born and raised in Florida, Michael has a strong network of connections across various industries, which he leverages to benefit his clients.
Michael holds a Master's degree in Business Finance from Lynn University in Boca Raton, FL. His educational background, combined with his professional experience, equips him to provide financial guidance to his clients.
Securities Agent: GA, CO, CA, TX, NV, SC, AZ, KY, PA, WV, TN, CT, NY, NH, NJ, NC, MN, MI, IL, OR, FL, MD, MA; General Securities Representative; Investment Advisor Representative
NMLS#: 405505
CA Insurance License #: 4045307
NMLS#: 405505
CA Insurance License #: 4045307
About Perri Hazan
Perri Hazan is a dedicated Portfolio Associate for The McCleneghen-Litrento Group at Morgan Stanley, where she has been making a significant impact since 2021. With a total of eight years in the financial services industry, Perri brings a wealth of experience and a passion for helping high-net-worth clients achieve their financial goals. She is adept at processing client requests, answering inquiries, maintaining accurate documentation, and fostering both new and existing client relationships. Perri is also instrumental in conducting introductions and tutorial sessions for Morgan Stanley Online, the Morgan Stanley Mobile app, and Financial Plans.
Perri's journey in the financial sector began in 2017 when she took on a part-time role in banking while attending college. Starting as a teller, she quickly advanced to a banker position and pursued her licenses, including Series 7, 9, 10, and 66. Her commitment to professional growth led her to the Wealth Management side, where she thrives as a Client Service Associate (CSA).
Perri quickly became passionate in her role as she loves helping people and building lasting relationships. Her unique approach is characterized by constant communication, which sets her team apart and ensures clients receive the highest level of service. Her favorite aspect of the business is the opportunity to connect with clients and make a positive difference in their financial lives.
Outside of her professional life, Perri is happily married to Nick Sherritt. Together, they have two sons, Fletcher and Maxwell, who are the light of their lives. Family is of utmost importance to Perri, and she cherishes the time spent traveling and experiencing new adventures with them. She is also committed to giving back to the community through her involvement with organizations like Feeding South Florida and Boca Helping Hands.
Perri holds a Bachelor's Degree in Finance from Florida Atlantic University (FAU) in Boca Raton, FL. Her personal interests include spending quality time with family and exploring new experiences together.
Perri's journey in the financial sector began in 2017 when she took on a part-time role in banking while attending college. Starting as a teller, she quickly advanced to a banker position and pursued her licenses, including Series 7, 9, 10, and 66. Her commitment to professional growth led her to the Wealth Management side, where she thrives as a Client Service Associate (CSA).
Perri quickly became passionate in her role as she loves helping people and building lasting relationships. Her unique approach is characterized by constant communication, which sets her team apart and ensures clients receive the highest level of service. Her favorite aspect of the business is the opportunity to connect with clients and make a positive difference in their financial lives.
Outside of her professional life, Perri is happily married to Nick Sherritt. Together, they have two sons, Fletcher and Maxwell, who are the light of their lives. Family is of utmost importance to Perri, and she cherishes the time spent traveling and experiencing new adventures with them. She is also committed to giving back to the community through her involvement with organizations like Feeding South Florida and Boca Helping Hands.
Perri holds a Bachelor's Degree in Finance from Florida Atlantic University (FAU) in Boca Raton, FL. Her personal interests include spending quality time with family and exploring new experiences together.
About Ilona Fialkin
Ilona Fialkin is a Senior Registered Associate for The McCleneghen-Litrento Group at Morgan Stanley, with more than four decades of financial services experience and 25 years with Smith Barney/Morgan Stanley (joined in 2001). She began her career in the industry in 1978, starting as a receptionist and learning the business from the ground up—an experience that continues to shape her practical, detail-oriented approach and deep appreciation for exceptional client service. Ilona holds her Series 7 and Series 63 licenses.
In her role, Ilona supports high-net-worth clients and works closely with advisors to help deliver a consistent, responsive client experience. She is known for her steady, client-focused style—bringing care, consistency, and thoughtful follow-through to day-to-day needs. Ilona values a team-based service model, which helps ensure clients receive personalized support and timely attention. Her favorite part of the business is working directly with clients—building long-term relationships, assisting with requests, and helping clients feel heard, supported, and confident that someone is always available.
Originally from New York, Ilona has called South Florida home for the past 20 years. Family is central to her life; she enjoys making memories with her children and loves experiencing new things together, including staycations and fine dining. Ilona is also passionate about giving back to her community and supports organizations including Feeding South Florida, the Florence Fuller Foundation, and Boca Helping Hands.
In her role, Ilona supports high-net-worth clients and works closely with advisors to help deliver a consistent, responsive client experience. She is known for her steady, client-focused style—bringing care, consistency, and thoughtful follow-through to day-to-day needs. Ilona values a team-based service model, which helps ensure clients receive personalized support and timely attention. Her favorite part of the business is working directly with clients—building long-term relationships, assisting with requests, and helping clients feel heard, supported, and confident that someone is always available.
Originally from New York, Ilona has called South Florida home for the past 20 years. Family is central to her life; she enjoys making memories with her children and loves experiencing new things together, including staycations and fine dining. Ilona is also passionate about giving back to her community and supports organizations including Feeding South Florida, the Florence Fuller Foundation, and Boca Helping Hands.
About Frank Anastasio
Frank has over a decade of experience in U.S. equity markets, alternative investments, and investment banking. He has been an active trader since his early twenties and founded his own private capital raising company.
He started his career in the United States Army as a lieutenant and served as an ambassador from the United States Army to the British Army at the Royal Military Academy Sandhurst. Frank was honorably discharged from the Army and joined Guggenheim Partners in their Veterans Transition Assistance Program working on the Fixed Income Sales & Trading desk.
Frank has been at Morgan Stanley in their Wealth Management division since 2026. He holds a BS in Finance from Monmouth University, an MSc in Banking & Finance from the University of St Andrews, and an MBA in Real Estate from the University of Miami. Frank enjoys reading, golfing, hunting & fishing.
He started his career in the United States Army as a lieutenant and served as an ambassador from the United States Army to the British Army at the Royal Military Academy Sandhurst. Frank was honorably discharged from the Army and joined Guggenheim Partners in their Veterans Transition Assistance Program working on the Fixed Income Sales & Trading desk.
Frank has been at Morgan Stanley in their Wealth Management division since 2026. He holds a BS in Finance from Monmouth University, an MSc in Banking & Finance from the University of St Andrews, and an MBA in Real Estate from the University of Miami. Frank enjoys reading, golfing, hunting & fishing.
Contact William McCleneghen
Contact Michael Litrento
Hear From Our Clients
Having a Financial Advisor that you like is obviously important, but one who treats you like family is rare. That's what we have been shown since joining Mike and Bill. My wife and I went in to meet them to see if it was a good fit and that's all it took. They took the time to listen and cater to you, the client. It's not about what they want, it's about them doing what's best for you and it's not just said, it's proven! It is not just about dollars and cents, it is FAMILY. Best Decision!
David
Verified ClientJanuary 12, 2026
Bill McCleneghen, Mike Litrento and their terrific support team provide invaluable support to 3 generations of our family. From investment advisory services, home mortgage financing, business lines of credit to life insurance advisory services used as part of their financial planning support, we can always expect prompt, friendly and sound advice and support. We highly recommend Bill and Mike, Perri and Ilona to anyone looking for a complete service-oriented financial support team.
Robert
Verified ClientJanuary 13, 2026
Working with Mike Litrento has been an incredible experience and truly a turning point in my financial life. His knowledge in wealth management is exceptional. What sets him apart is his constant communication 24/7. Mike’s team is absolutely next level. Their willingness to help has given me a sense of security and support that I’ve never experienced with a financial advisor before. I highly recommend Mike to anyone looking for a trusted, knowledgeable, and truly dedicated financial advisor.
Brandon
Verified ClientJanuary 13, 2026
I have had the pleasure of working with Michael Litrento (and team) for about 10 years and cannot speak highly enough about the experience. He has always taken the time to listen to my goals and concerns, providing customized advice that truly fits my needs. He is always available to answer questions and provide support, making me feel like a valued client, not just another account. Thanks to Michael’s support, I am now on a solid path toward achieving my financial goals.
John
Verified ClientJanuary 13, 2026
I’ve worked with Mike and Billy for more than a decade, and over that time they have become true trusted advisors. Their thoughtful guidance and steady focus has been invaluable. We speak regularly to review performance and adjust our strategy together. They take a proactive, hands-on approach that gives me complete confidence in every decision we make. I know I have a team that genuinely looks out for me and my entire family, that level of trust is rare and truly valued.
Daniel
Verified ClientJanuary 13, 2026
Working with Mike, Bill, and their team has been one of the best decisions I’ve made for both my business and personal life. They truly act as the quarterback for everything financial. Their strategy, responsiveness, and attention to detail are unmatched. What really sets them apart is how thoughtful they are - they always check in and never miss important moments. I couldn’t recommend them more highly!
Brandan
Verified ClientJanuary 13, 2026
Working with the McCleneghen-Litrento group has been a privilege for my family and I. For over a decade they have served us with honesty, deep knowledge, and genuine commitment, always placing our interests first. Their constant communication and availability are reassuring, and their planning has helped us navigate markets in many ways throughout the years. We are truly happy and grateful for the trust, consistency, and friendship they show all of us every year.
Tim
Verified ClientJanuary 15, 2026
I’ve had an outstanding experience with the McCleneghen–Litrento Group at Morgan Stanley. From day one, they demonstrated professionalism and genuine care for my financial goals. They take time to understand the full picture—long-term objectives, risk tolerance, family needs, and legacy planning. I highly recommend them as trusted advisors who truly invest in their clients’ success.
Frank
Verified ClientJanuary 13, 2026
Working with Michael, Billy and their team has truly been a pleasure. They are proactive, not reactive. They understand our needs and the results have been great. We also appreciate how available and responsive they are. We wholeheartedly recommend them!
James
Verified ClientJanuary 13, 2026
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
5285589 3/2026
Wealth Management
Global Investment Office
Portfolio Insights
Ready to start a conversation? Contact The McCleneghen-Litrento Group today.
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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
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.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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.
8When 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.
9Morgan 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
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
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.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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.
8When 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.
9Morgan 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
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 5378280 (5/2026)
