Brian Michael McNew
Senior Vice President, Financial Advisor, Portfolio Management Director
Phone:
(202) 862-9151(202) 862-9151
The McNew Penno Group at Morgan Stanley
Direct:
(202) 862-9139(202) 862-9139
Toll-Free:
(800) 745-2451(800) 745-2451
Our Mission Statement
Helping families develop financial confidence.
Our Mission Statement
As your life evolves, not only does your financial strategy become more complex, but your options for implementing it increase as well. Evaluating and choosing among these options may in turn become a difficult task.
This is where we come in.
With the guidance of experienced advisors, a team with both the understanding of your diverse needs and the access and ability to leverage customized programs, we strive to help make sense of the complexity and to provide you with strategies to navigate.
At the McNew Penno Group, we focus on what is most important to you and provide the skills, sophisticated strategies and world-class resources needed to make informed, confident decisions about your life, family, and finances.
Who We Serve
Individuals and families seeking trusted financial counsel.
Why We Serve
Because we love participating in our client's lives and helping them achieve their goals.
How We Serve
With a passion for doing what is right.
This is where we come in.
With the guidance of experienced advisors, a team with both the understanding of your diverse needs and the access and ability to leverage customized programs, we strive to help make sense of the complexity and to provide you with strategies to navigate.
At the McNew Penno Group, we focus on what is most important to you and provide the skills, sophisticated strategies and world-class resources needed to make informed, confident decisions about your life, family, and finances.
Who We Serve
Individuals and families seeking trusted financial counsel.
Why We Serve
Because we love participating in our client's lives and helping them achieve their goals.
How We Serve
With a passion for doing what is right.
Services Include
- Professional Portfolio ManagementFootnote1
- Financial PlanningFootnote2
- Exchange Traded FundsFootnote3
- Retirement PlanningFootnote4
- Lending Products
- Trust Services*
- Wealth ManagementFootnote5
- Endowments and FoundationsFootnote6
- Cash ManagementFootnote7
- Estate Planning StrategiesFootnote8
- Executive Financial ServicesFootnote9
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
The McNew Penno Group at Morgan Stanley
You are entitled to the best advice possible. We will review your complete financial picture and help identify any gaps. We will work together to develop a custom-tailored wealth management strategy focused on helping you achieve your specific financial goals.
The McNew Penno Group Welcome Letter
Our Welcome Letter is a concise introduction into our practice. Learn more about some of the services we provide as a team along with our contact information.
View our welcome letterThe Mcnew Penno Group Brochure
We believe that sharing more about our passion is crucial to building relationships that last. This pitch book is a short slide deck with more on the "why", "what", and "how" of our practice. Take a look and learn more about our Mission Statement and Service Model.
View our brochureThe Morgan Stanley Client Experience
Watch HereMorgan Stanley Family Office Resources: Solutions that Impact Multiple Generations
Family Office Resources delivers comprehensive solutions in investment management, estate planning, tax strategy, and philanthropic advisory, all tailored to preserve and enhance your family's wealth across generations. Our approach combines the global reach and expertise of Morgan Stanley with personalized service, ensuring that your family's financial goals are met with precision and care.
Family Office Resources Factsheet
Read Here
Family Office Resources Video
Watch Here
Monetization Planning
We can work with you, your tax and legal advisors and your investment bankers to identify and structure an exit strategy consistent with your business and personal financial goals.
Learn More
Philanthropy Management
Philanthropy Management supports individuals, families, and corporate and private foundations, and nonprofit organizations by offering a suite of services to help define and realize clients' charitable missions.
Learn More
Family Office Resources Placemat
The Family Office Resources Generalists (FORGs) help clients and Financial Advisors curate and navigate an expansive suite of highly specialized resources to address the complex, multifaceted challenges of managing significant wealth so clients may make complicated decisions confidently.
Learn MorePlan with Confidence
For many business owners, the eventual sale of their business is a transaction of a lifetime, representing an integral part of their overall financial planning. Decision making can be emotionally taxing before, during and after this process. In our experience, a strong team of advisors can lead to increased probability of successful financial and non-financial outcomes. Though it may seem obvious that leaving enough time to plan and having an adequate plan in place are two key factors in determining transition success, only 27% of business owners say they have a robust business succession plan. As with the rest of your finances, it is important to construct a roadmap for your business and ensure that it is aligned with your personal aspirations.
Source: https://www.businesswire.com/news/home/20230321005177/en/New-Survey-Explores-State-of-U.S.-Family-Owned-Businesses
Investment Strategy
After the sale of your business, your finances will likely carry a different look. You may have more cash at your disposal to invest and your continued exposure to your business may lead to future payments. Depending on your equity in the business, it may be worth considering ways to mitigate concentration risk. We can discuss diversification, strategic selling, and gifting.
Risk Management
Through this process, it's important to consider how to protect your wealth. Part of the equation may include tailoring your insurance coverage to better reflect your new circumstances. The ownership structure of your assets, using trusts, and using a strategic insurance program could be beneficial in your overall financial plan.
Estate Planning
Planning for what happens when after you're gone is key to protecting your legacy. After transition, consider creating or updating your estate plan. We can discuss durable financial powers of attorney, a trusted person who can act on your behalf to ensure financial matters are taken care of, a last will to help articulate your wishes, and a trust to help you further describe how you would like your wealth to be handled.
Business Transition Resources
Looking to Exit Your Business and Retire? You're Not Alone
Creating and growing a successful business is seldom just about money, nor is the decision to exit the business, whether that exit is through an IPO, merger with another company, private sale or succession within the family. The process is intense, the details are complex, and the decisions are often an unexpected combination of personal and financial.
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.
Modern Wealth Tools & Investor Resources
Morgan Stanley's suite of Modern Wealth Management Tools allows advisors to offer more customized and comprehensive advice than anywhere else. These tools' ease of use allows for a more in-depth view of a client's financial life to be taken, resulting in better service and more well-rounded advice.
We seek to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future, and why. The links below provide in-depth analysis on interesting topics that are affecting the worlds of business and finance not only now, but in the future.
We seek to make complex financial ideas more digestible so that our clients understand what is being done on their behalf to plan for their financial future, and why. The links below provide in-depth analysis on interesting topics that are affecting the worlds of business and finance not only now, but in the future.
Morgan Stanley Online
Morgan Stanley Online allows you to seamlessly and securely manage your investments and everyday finances in one place.
Register for Morgan Stanley Online Today
Morgan Stanley Mobile App
Access your account wherever, whenever using the Morgan Stanley Mobile App. It gives you the same capabilities as Morgan Stanley Online from the convenience of your phone.
To learn about the mobile capabilities and how to get the app, click here
eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App. It's quick, convenient & secure.
Enroll Today
Digital Vault
Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
Get Started Today
Financial Planning
Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our cutting edge tools- Goals Planning System (GPS) and LifeView.
Morgan Stanley Goals-Based Wealth Management
Thoughts On The Market Podcast
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Thoughts On The Market Podcast
Morgan Stanley Ideas Podcast
From the use of satellite data technology to solve some of the world's most complex problems, to learning how not to follow the crowd when making decisions, The Morgan Stanley Ideas Podcast brings you revealing stories about the world of business, finance, technology and beyond. Click the link below for more information and to access a library of interesting content.
Morgan Stanley Ideas Podcast
On The Markets Research Reports
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
On The Markets Research Reports
Global Investment Committee Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Global Investment Committee Weekly Research ReportLocation
1775 I Street NW
Suite 200
Washington, DC 20006
US
Direct:
(202) 862-9139(202) 862-9139
Toll-Free:
(800) 745-2451(800) 745-2451
Meet The McNew Penno Group
Leland Penno
Senior Vice President, Financial Advisor, Portfolio Management Director
Phone:
(202) 862-9101(202) 862-9101
Alice Slopow
Client Service Associate
Phone:
(202) 862-9139(202) 862-9139
Karen Reid
Registered Client Service Associate
Phone:
(202) 689-1814(202) 689-1814
About Brian Michael McNew
Brian McNew is a Vice President, Financial Advisor, and Portfolio Management Director with Morgan Stanley in Washington, DC. Brian has more than 20 years of experience in financial services and has been with the firm since 2008. He began his career in June of 2000 with a small financial planning firm in Bowie, MD. Then from 2003 to 2008, Brian was with Merrill Lynch out of Florida.
Brian graduated from Washington College with a BA in Business Administration. Personally, he has been married for 16 years and has three boys and a girl. Away from the office, he enjoys spending quality time with the family, fishing and boating.
Details:
14 Years with Morgan Stanley
Washington College, B.A.
Brian graduated from Washington College with a BA in Business Administration. Personally, he has been married for 16 years and has three boys and a girl. Away from the office, he enjoys spending quality time with the family, fishing and boating.
Details:
14 Years with Morgan Stanley
Washington College, B.A.
Securities Agent: VA, TX, OK, IN, WI, WA, UT, MN, FL, CA, NJ, LA, CO, OH, NM, NC, KY, GA, ME, RI, NY, NE, MA, IL, DC, AZ, AL, SC, OR, MO, MD, CT, WY, WV, MI, KS, IA, PA, NV, ND, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 1255362
CA Insurance License #: 0E46528
NMLS#: 1255362
CA Insurance License #: 0E46528
About Leland Penno
Leland A. Penno is a Portfolio Management Director and Financial Advisor with Morgan Stanley in Washington, DC. Leland has more than 19 years of experience in financial services and was previously at DMG Securities before moving to Morgan Stanley in 2005.
Leland graduated from Messiah College with a BS in Business Administration. With the firm, he primarily focuses on discretionary management of taxable and tax-exempt accounts, value based individual equity selections, and family wealth strategies. Away from the office, he enjoys spending time with his family and is actively involved with his church. Leland is also an avid Baltimore sports fan and enjoys hunting and fishing.
Details:
19 Years with Morgan Stanley
Messiah College, B.S.
Leland graduated from Messiah College with a BS in Business Administration. With the firm, he primarily focuses on discretionary management of taxable and tax-exempt accounts, value based individual equity selections, and family wealth strategies. Away from the office, he enjoys spending time with his family and is actively involved with his church. Leland is also an avid Baltimore sports fan and enjoys hunting and fishing.
Details:
19 Years with Morgan Stanley
Messiah College, B.S.
Securities Agent: NH, NE, ND, NC, MT, MS, MO, MN, MI, ME, MD, MA, LA, KY, KS, IA, IN, IL, GA, FL, DE, DC, CT, CO, CA, AZ, AL, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, VT, WA, WI, WV, WY, NJ; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1552211
NMLS#: 1552211
About Alice Slopow
Alice is a Client Service Associate with the McLain, McNew, Penno Group at Morgan Stanley. For the team, Alice is responsible for various forms of operational and administrative support for both clients and financial advisors. She is the initial interface for our new and existing clients and is responsible for managing all client service needs.
She holds a B.S. in Business Administration with a focus on Banking and Finance from Bowie State University. In her free time, Alice loves spending time with her family and close friends.
She holds a B.S. in Business Administration with a focus on Banking and Finance from Bowie State University. In her free time, Alice loves spending time with her family and close friends.
About Karen Reid
Karen graduated from Howard University and joined the Morgan Stanley team in May of 2015. Prior to coming to Morgan Stanley, Karen worked at RBC Wealth Management as a Client associate. Since joining Morgan Stanley Karen has acquired her Series 7, 65 and 63 Licenses as well as a vast array of product specific knowledge Outside of work, Karen enjoys spending time with her family, playing tennis, running ,cooking and love travelling
Contact Brian Michael McNew
Contact Leland Penno
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Grace Kennedy
Planning Associate
About Grace Kennedy
Grace Kennedy is a Planning Associate at Morgan Stanley providing dedicated financial planning support to Advisors and their teams. Operating as an extension of the FA/Team, she collaborates with clients to discover and define goals that matter most to them. Leveraging state of the art technology, she will evaluate various alternatives and their potential outcomes to help clients confidently choose the appropriate course of action. Grace provides expertise across a wide suite of Morgan Stanley planning tools designed to assist in the areas of investment accumulation, retirement, education, major purchase, cash flow, risk management, tax efficiency, and wealth transfer planning.
She earned her undergraduate degree from Auburn University and received the Financial Planning Specialist® designation from the College for Financial Planning. Grace is originally from Johns Creek, Georgia and currently resides in Johns Creek, Georgia.
She earned her undergraduate degree from Auburn University and received the Financial Planning Specialist® designation from the College for Financial Planning. Grace is originally from Johns Creek, Georgia and currently resides in Johns Creek, Georgia.
Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will act in an investment advisory capacity for thirty (30) days after the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our “Understanding Your Brokerage and Investment Advisory Relationships,” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
When 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.
You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.
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.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
When 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.
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Rational Investing in an Age of Uncertainty
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Ready to start a conversation? Contact The McNew Penno Group today.
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
3An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7Morgan 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
8Morgan 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.
9Morgan 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.
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.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
3An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7Morgan 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
8Morgan 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.
9Morgan 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)