Keith T. Munera, CFP®
Managing Director, Senior Portfolio Management Director, Financial Advisor
Phone:
(610) 408-1909(610) 408-1909
The Munera Group at Morgan Stanley
Direct:
(610) 408-1909(610) 408-1909
Our Mission Statement
We help successful people address the complex challenges of managing wealth, so they can focus on their careers, their families and their life goals.
Our Story and Services
We believe that a financial plan is successful only to the extent that it helps you achieve your life goals. Your strategy should support the way you choose to live, and reflect the values that you and your family share.
Your financial plan should cover every aspect of your financial life, allowing you to focus on what really matters to you: your family, your work and your personal and philanthropic interests. For over 40 years, our multigenerational team has worked with our clients to create, implement and maintain precisely tailored, comprehensive financial and investment strategies based on their life goals.
Many of these relationship span decades, and more than a few of them span generations. We are honored to have earned their trust and friendship, and are completely committed to helping them reach their goals. We look forward to learning more about you and your family and discussing how we work to enhance the quality of your life.
2024-2025 Forbes Best-In-State Wealth Management Team
The Munera Group at Morgan Stanley is named one of Forbes Best-In-State Wealth Management Teams for 2024 & 2025.
Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2024-2025) Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Services Include
- Wealth ManagementFootnote1
- 401(k) Rollovers
- Endowments and FoundationsFootnote2
- Estate Planning StrategiesFootnote3
- Financial PlanningFootnote4
- Fixed IncomeFootnote5
- Lending Products
- Life InsuranceFootnote6
- Municipal BondsFootnote7
- Planning for Education FundingFootnote8
- Retirement PlanningFootnote9
- Executive Financial ServicesFootnote10
- LGBT+ Planning ServicesFootnote11
- Philanthropic Services
- Trust Services*
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Clients
Our clients have a lot in common with each other. They are intelligent, industrious people who have achieved considerable success by focusing on their businesses, professional practices or their corporate careers.
We help our clients translate their life goals into financial objectives. They have ambitious life goals that can only be reached through hard work and careful planning. That’s where we come in.
Not one of our clients is exactly like another. They have their own challenges and aspirations, their own values, family dynamics and world views. We work to understand these unique attributes, then tailor every aspect of our relationship to suit their needs.
We collaborate with our clients to create thoroughly customized investment and financial plans designed to reach those objectives. We make their goals our goals, and strive to meet and exceed their expectations at every turn.
Modern Wealth Management Tools and Resources
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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 award winning tools- Goals Planning System (GPS) and LifeView.
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Security Center
Learn about our latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
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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.
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The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
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Portfolio Risk Platform
Our Portfolio Risk Platform, backed by institutional-caliber analytics, assesses thousands of risk factors using a holdings-based approach to assess a portfolio’s exposures, analyze how securities behave together across portfolios and forecast how they influence risk and return moving forward.
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Idea-driven portfolios that turn innovative trends, themes and insights into powerful investments across asset classes and market sectors with access to third-party and proprietary investment selections based on industry-leading research from across the full scale and global reach of the firm.
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Taxes can be a substantial drag on investment returns. Morgan Stanley Total Tax 365 offers access to a broad range of tax-efficient strategies to help you integrate tax planning into your investment process all year long, maximize portfolio after-tax return potential and help keep more of what you earn.
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2024 Tax Tables
View Here2024 Federal Gift and Estate Tax Exemption
Learn more about the 2024 Gift and Estate Tax Exemption.
View HereIRS Ends Inherited IRA Confusion: Annual RMDs Required for Many
If you are a current retirement account holder or potential beneficiary, stay informed and adjust your financial planning accordingly- as 2025 approaches.
Learn MoreOn The Markets
Check out the Global Investment Committee's market outlook for this month. A publication containing thought- provoking content that examines the forces shaping the investment landscape.
This Month's ArticleThe GIC Weekly
The GIC Weekly is composed of seasoned investment professionals who meet regularly to discuss the global economy and markets. The committee determines the investment outlook that guides our advice to clients.
This Week's ArticleThoughts 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.
Latest EpisodePreferred Savings
Take advantage of our Preferred Savings Program for Qualifying Cash offer with flexible options and more ways to save.
Contact Our Team to Learn More or Click Here for More Details | Terms apply.Income Tax Bracket Changes for 2024
Due to inflation, the IRS has adjusted its rules and tax filers may be able to keep more in 2024.
Contribution Limits
• 401k: $23,000, up from $22,500 for employees under 50 years old, & catch ups increase to $7,500 from $6,500 for employees over 50.
• IRA: $7,000, up from $6,500. Catch up for individuals over 50 remains the same at $1,000.
Social Security COLA Increase
• Starting in January 2024, Social Security payments will go up by 3.2%.
• IRA: $7,000, up from $6,500. Catch up for individuals over 50 remains the same at $1,000.
Social Security COLA Increase
• Starting in January 2024, Social Security payments will go up by 3.2%.
PROTECTING YOUR ONLINE SECURITY
Your security is our top priority. Morgan Stanley proactively defends our systems and monitors our digital landscapes to anticipate issues before they arise and respond appropriately when they do. The firm is actively supporting multiple layers of security. Security includes the following: Strong encryption protocols designed to protect your data, continuous monitoring to help detect and prevent fraudulent activity in your accounts, routine testing of our systems to identify potential vulnerabilities, and independent reviews by outside security firms to penetration test our applications and evaluate our processes.
How to Protect Yourself
- Safeguard your Information
- Report an Online Security Concern
- Enhance your Security
Security Features and Proactive Defenses
- Multi-Factor Authentication (MFA)
- Alerts and Notifications
- Automatic Session Time Out
- VoiceID
- Fraud Detection and Prevention
- Digital Tools
- Cybersecurity Fusion Centers
- Threat Landscape Monitoring
- Employee Training and Testing
Location
899 Cassatt Rd
Ste 100
Berwyn, PA 19312
US
Direct:
(610) 408-1909(610) 408-1909
Meet The Munera Group
Brett D. Caffrey, CFP®
First Vice President, Wealth Management, Portfolio Manager, Financial Advisor
Phone:
(610) 408-1939(610) 408-1939
Chick P. Robinson
Financial Advisor
Phone:
(610) 408-1988(610) 408-1988
Rebecca J. Alderfer
Senior Registered Client Service Associate
Phone:
(610) 408-1964(610) 408-1964
Kathy Pezzuoli
Registered Associate
Phone:
(610) 408-1945(610) 408-1945
Rebecca Wychock
Business Development Associate
Phone:
(610) 408-1959(610) 408-1959
About Keith T. Munera
Drawing on nearly 20 years of experience in the financial services industry, Keith Munera works closely with the team’s clients to create, implement and maintain highly customized wealth management plans. Keith’s primary concentrations include portfolio construction, risk management and the development and execution of retirement and financial planning strategies.
Prior to joining Morgan Stanley Wealth Management in 2012, Keith spent eight years as a financial advisor at UBS. He previously served as a consultant at McKinsey and Company, working closely with senior executives at major corporations to develop and refine their business strategies. The consultative skills he honed at McKinsey continue to guide his approach to wealth management today.
Keith received his B.A. in economics and international relations from the University of Pennsylvania, and an MBA in finance from the University of Pennsylvania’s Wharton School of Business. He and his partner, John, live in Berwyn, Pennsylvania with their two golden retrievers.
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2021
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2022
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2023
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2024
- Keith T. Munera named to Morgan Stanley's Presidents Club 2022
- The Munera Group at Morgan Stanley named to Forbes Best-In-State Wealth Management Teams for 2024.
Disclosures:
2021-2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2021-2023). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2024) Data compiled by SHOOK Research LLC based on time period from 3/31/22-3/31/23.
https://www.morganstanley.com/disclosures/awards-disclosure.html
Prior to joining Morgan Stanley Wealth Management in 2012, Keith spent eight years as a financial advisor at UBS. He previously served as a consultant at McKinsey and Company, working closely with senior executives at major corporations to develop and refine their business strategies. The consultative skills he honed at McKinsey continue to guide his approach to wealth management today.
Keith received his B.A. in economics and international relations from the University of Pennsylvania, and an MBA in finance from the University of Pennsylvania’s Wharton School of Business. He and his partner, John, live in Berwyn, Pennsylvania with their two golden retrievers.
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2021
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2022
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2023
- Keith T. Munera named to Forbes List of Best-In-State Wealth Advisors 2024
- Keith T. Munera named to Morgan Stanley's Presidents Club 2022
- The Munera Group at Morgan Stanley named to Forbes Best-In-State Wealth Management Teams for 2024.
Disclosures:
2021-2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2021-2023). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2024) Data compiled by SHOOK Research LLC based on time period from 3/31/22-3/31/23.
https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: AK, CT, WY, VT, OK, IA, GA, WA, PA, NH, MD, WI, TN, SC, OH, MN, WV, UT, KY, IN, FL, CO, DC, TX, OR, ND, MO, ME, CA, AZ, IL, NY, NM, NJ, NC, MI, KS, AL, VA, NV, MA, DE; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1312674
CA Insurance License #: 0E80910
NMLS#: 1312674
CA Insurance License #: 0E80910
About Brett D. Caffrey
Brett Caffrey works closely with the team’s clients to create, implement and monitor comprehensive financial plans based on their challenges and aspirations. This includes a strong focus on developing customized allocation strategies. Brett spends a considerable amount of time with the younger members of the team’s multigenerational clients, helping them define their goals and create investment strategies and financial plans to address them.
Brett originally joined the team as an intern while studying finance at Villanova University. After graduating with a B.S., he worked at Deutsche Bank, and then UBS Financial Services, in an institutional sales role. He returned to the Wildemore Munera Group in 2012 and moved with the team to Morgan Stanley.
Brett and his wife, Jaclyn, live in Berwyn, Pennsylvania with their three children.
Brett originally joined the team as an intern while studying finance at Villanova University. After graduating with a B.S., he worked at Deutsche Bank, and then UBS Financial Services, in an institutional sales role. He returned to the Wildemore Munera Group in 2012 and moved with the team to Morgan Stanley.
Brett and his wife, Jaclyn, live in Berwyn, Pennsylvania with their three children.
Securities Agent: WY, CT, MD, KY, AK, WA, OR, WV, UT, TN, SC, IN, CA, AL, NV, NJ, VT, OK, OH, NM, NH, MI, KS, IA, WI, NC, MN, MA, PA, FL, CO, TX, NY, IL, GA, AZ, DC, ND, MO, DE, VA, ME; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1312678
CA Insurance License #: 0I75765
NMLS#: 1312678
CA Insurance License #: 0I75765
About Chick P. Robinson
Securities Agent: CA, AK, WV, UT, OH, IL, WI, VT, NM, CT, AL, TX, NV, ND, NC, ME, FL, OR, OK, NJ, MN, IA, GA, CO, WY, MO, MA, IN, SC, MD, WA, TN, KY, AZ, PA, NY, NH, DC, VA, MI, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 1312850
NMLS#: 1312850
About Rebecca J. Alderfer
With over 35 years of experience in the financial services industry, including 25 years as a member of the Wildemore Munera Group, Becky Alderfer plays an instrumental role in creating an outstanding service experience for the team's clients. Becky provides an extensive range of operational support, including communication, account opening and maintenance, and trade execution. Becky began her career at Prudential Securities, joined the team while they were at UBS Financial Services and moved to Morgan Stanley in 2012. Becky earned her B.A. in French from Dickinson College. A longtime resident of Philadelphia, Becky is passionate about supporting the city's animal rescue organizations.
About Kathy Pezzuoli
Kathy Pezzuoli joined Morgan Stanley in May 2020. She worked in the financial industry for the last 14 years at the Vanguard Group. During her tenure at the Vanguard Group she worked in Small Business Services assisting employers and participants with retirement plans, in Retail Inheritance assisting beneficiaries and in the Office of General Counsel submitting regulatory filings. She has obtained her Series 7, 63, & 66 licenses. Client focus and doing what’s best for the client is at the heart of her work experience.
About Rebecca Wychock
The driving force behind Rebecca’s career has been cultivating hospitable and holistic client service excellence. Leading with the client experience, Rebecca delivers the breadth of the full firm by educating and counseling clients through all life’s transformations.
Rebecca started with Morgan Stanley as in intern in 2014. She holds the General Securities Representative license (Series 7), the Uniform Combined State Law examination (Series 66), and Pennsylvania State Insurance License, as well as her Financial Planning Associate designation. On our team, Rebecca’s primary concentrations are client relationship management, business development, practice management, financial planning, and assisting Kathy with operational duties.
Rebecca graduated from The Pennsylvania University with a degree in Business Marketing/ Management. She was a Dean’s List Student, as well as held leadership positions in both the Business Club and THON organization.
In the community, Rebecca is a group fitness instructor and dance choreographer for weddings. Residing in Conshohocken, she is also an avid runner and cyclist. Rebecca comes from a close-knit family and spends as much time as possible with her son, Karson. Together they love going on adventures and cheering on Philadelphia teams (Go Birds!).
Rebecca started with Morgan Stanley as in intern in 2014. She holds the General Securities Representative license (Series 7), the Uniform Combined State Law examination (Series 66), and Pennsylvania State Insurance License, as well as her Financial Planning Associate designation. On our team, Rebecca’s primary concentrations are client relationship management, business development, practice management, financial planning, and assisting Kathy with operational duties.
Rebecca graduated from The Pennsylvania University with a degree in Business Marketing/ Management. She was a Dean’s List Student, as well as held leadership positions in both the Business Club and THON organization.
In the community, Rebecca is a group fitness instructor and dance choreographer for weddings. Residing in Conshohocken, she is also an avid runner and cyclist. Rebecca comes from a close-knit family and spends as much time as possible with her son, Karson. Together they love going on adventures and cheering on Philadelphia teams (Go Birds!).
Contact Keith T. Munera
Contact Brett D. Caffrey
Contact Chick P. Robinson
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
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
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
Are You Prepared for Tax Day?
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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
Donor Advised Funds: A Smart Way to Manage Your Giving
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Ready to start a conversation? Contact The Munera Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
2Morgan 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.
3Morgan 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.
4Morgan 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.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should 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.
10Morgan 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.
11Morgan 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
2Morgan 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.
3Morgan 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.
4Morgan 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.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should 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.
10Morgan 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.
11Morgan 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.
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Awards Disclosures
CRC 6491812 (04/2024)
