Stuart Solomon
Financial Advisor
Phone:
(248) 723-1832(248) 723-1832
The NEA Group at Morgan Stanley
Direct:
(248) 723-1832(248) 723-1832
Our Mission Statement
We help individuals and families make thoughtful financial decisions through comprehensive financial planning, professional investment management and highly personalized advice. By understanding what matters most to each client, we develop strategies designed to bring clarity to complex financial lives and help turn accumulated wealth into meaningful possibilities.
The NEA Way
Our Story
At The NEA Group at Morgan Stanley, we believe wealth management begins with understanding your life—not simply your investments.
Our name reflects that belief. NEA is named for Stuart's three daughters, serving as a reminder that behind every portfolio is a person, a family and a story that matters.
Our clients have worked hard to build their wealth. As their resources grow, however, financial decisions often become more complex. Investments, retirement, taxes, estate considerations, family responsibilities and major life decisions rarely exist independently of one another.
That's why we take a planning-led approach.
We begin by understanding what you've built, what matters to you and what you want your wealth to accomplish. We then bring together financial planning, investment management and the resources of Morgan Stanley to develop a coordinated wealth strategy around those priorities.
Our goal is to become a trusted resource our clients can turn to when important financial decisions arise—helping them understand their choices, evaluate potential tradeoffs and move forward with greater clarity.
The NEA Way
Our approach to wealth management is guided by six principles that shape how we work with our clietns and with one another.
- Believe. We believe in our clients, our team and the power of thoughtful advice. We believe in looking for possibilities, preparing for challenges and creating a well-designed plan for the future.
- Be Curious, Not Judgmental. Every client has a different story. Before offering advice, we listen.
We want to understand you, your family, your priorities and your current financial situation. We ask thoughtful questions because the better we understand what matters to you, the better we can help you determine where you want to go. - Value People. People come first.
We invest in our relationships with our clients, colleagues and communities. Our goal isn't simply to help clients build wealth. It's to help them use their resources thoughtfully and create a life that reflects what matters most to them. - Do the Right Thing. Strong relationships are built through trust.
We approach our relationships with integrity, transparency and care. When a decision isn't obvious, we come back to a simple question: What is the right thing to do? - Better Together. Complex financial decisions often benefit from multiple perspectives.
We collaborate, share ideas and bring together the capabilities of our team and the broader resources of Morgan Stanley. When appropriate, we can also work alongside your tax and legal professionals to help you consider your financial life more holistically. - Keep Moving Forward. Life changes. Markets change. Goals change.
We believe a thoughtful financial strategy should evolve with you. We remain focused on your progress so that as circumstances change, we can help you evaluate what may need to change with them.
That's the NEA Way.
How We Help
- Financial Planning & Wealth Strategy. We use financial planning to help bring the different areas of your financial life together. Depending on your circumstances, our planning conversations may include retirement, cash flow, investment strategy, education funding, insurance considerations, major purchases, estate and legacy goals, charitable giving and other priorities important to you and your family. Your plan provides a framework for evaluating decisions today while preparing for hte future.
- Investment Management. We believe your investment strategy should support your financial plan—not exist separately from it. Your objectives, time horizon, liquidity needs, tax considerations and tolerance for risk help inform how your assets are invested. Through Morgan Stanley, we have access to a broad range of investment capabilities that can be used to develop and manage portfolios appropriate for each client's individual circumstances.
- Retirement Planning. Retirement changes the financial conversation. Questions shift from how much to accumulate to how much accumulated wealth can support the life you want to live. We help clients evaluate retirement timing, anticipated spending, income sources, investment strategy, social security considerations, liquidity needs and the potential impact of changing markets within the context of their broader financial plan.
- Estate & Legacy Considerations. For many families, financial success eventually raises another important question: What do we want this wealth to accomplish beyond our own lifetime? We help clients consider wealth transfer, trust services, charitable giving, education and multigenerational goals as part of their broader wealth strategy. When appropriate, we work alongside clients' tax and legal professionals while they evaluate these decisions.
- Cash Management Solutions. Your investment portfolio is only one part of your financial life. Through Morgan Stanley's broader capabilities, we can help clients consider cash management, lending and liquidity needs alongside their investment and planning strategies.
- Business & Executive Planning. Business owners, executives and professionals may have financial lives that include employer benefits, equity comensation, concentrated investments, retirement plans, business interests and other complex assets. We help clients understand how these resources fit into their broader financial strategy and long-term objectives.
More Than investment Management
Sometimes the most important financial decision has little to do with what happened in the market that day.
It may be deciding whether to retire, helping a child, buying another home, navigating an inheritance, selling a business or determining what you want to leave behind.
These are the moments when we believe a strong advisory relationship becomes especially valuable.
Our goal is for clients to know that when an important financial decision arises, they have a team that already understands their financial picture, their goals and what matters to them.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Process
We believe that identifying financial strategies begins with a solid understanding of each client’s situation, goals, objectives and risk tolerance. We follow a disciplined process that enables us to work with you to craft a strategy that can help meet your individual financial needs.
Discovery
We start with a conversation to gain a thorough understanding of your goals, lifestyle and family.
Advise
We develop a customized wealth strategy to help you achieve and protect the outcomes you envision.
Implement
We use multiple accounts and products to help you implement solutions in our recommended wealth strategy.
Periodic Progress Meetings
We meet to track and review the progress and implementation of your customized wealth strategy.
Your Financial Plan Is The Foundation
We believe good financial advice begins with understanding where you want to go.
At The NEA Group, financial planning isn't simply a document created at the beginning of a relationship. It provides a framework for the decisions we make together—from how your assets are invested to how you prepare for retirement, respond to life's changes and think about the legacy you may leave behind.
Before recommending a strategy, we want to understand you.
What have you built? What matters most? What are you working toward? What concerns you? And what do you want your wealth to make possible?
Once we understand those answers, we can begin building a financial strategy around your life.
Questions Your Financial Plan Can Help You Answer
A thoughtful financial plan can help you evaluate questions such as:
-Am I on track for the future I want?
-When can I comfortably retire?
-How much can I reasonably spend in retirement?
-Am I saving enough—or potentially sacrificing more today than my future requires?
-How much investment risk do I actually need to take?
-What happens to my plan during a significant market decline?
-How should I approach creating income from my assets in retirement?
-Can I afford to help my children or grandchildren without compromising my own financial security?
-How could an inheritance, business sale or other significant event change my plan?
What do I ultimately want my wealth to accomplish?
The answers will be different for every client.
Our role is to help you understand your choices and their potential tradeoffs so you can make informed decisions with greater clarity.
Our Planning Process
1. Start With a Conversation
Every relationship begins with listening.
We want to understand what prompted you to seek advice, what you're hoping to accomplish and what you expect from an advisory relationship.
It's also an opportunity for you to learn about us and determine whether our approach is right for you.
2. Understand Your Financial Life
We take a comprehensive look at your financial picture, including investments, retirement accounts, income, spending, benefits, liabilities, insurance, estate planning documents and other relevant resources.
But the numbers only tell part of the story.
We also want to understand your priorities, concerns, family and vision for the future.
3. Build Your Financial Plan
Using Morgan Stanley's planning resources, we evaluate your current financial position and model potential paths forward.
Planning allows us to ask "what if?"
What if you retire earlier? Spend more? Experience a significant market decline? Buy another home? Help your children? Receive an inheritance?
The objective isn't to predict the future perfectly. It's to prepare for a range of possibilities and understand which decisions may have the greatest impact.
4. Design Your Investment Strategy
Once we understand what your wealth needs to accomplish, we can determine how your investments can support those objectives.
Your time horizon, income needs, liquidity requirements, individual circumstances and tolerance for risk all help inform the investment strategy.
We aren't simply asking:
"How much risk are you comfortable taking?"
We're also considering:
"How much risk does your financial plan require you to take?"
Our goal is to align your investment strategy with the outcomes you're working toward.
5. Put the Strategy Into Action
A financial plan becomes meaningful when it leads to action.
We help identify and prioritize next steps and assist with implementation where appropriate.
Some decisions may be immediate. Others may unfold over several years. We continue tracking those priorities so that important planning decisions remain part of the conversation.
6. Review, Adapt and Keep Moving Forward
Financial planning doesn't end when the initial plan is complete.
Careers evolve. Families change. Retirement approaches. Markets rise and fall. Priorities shift.
During ongoing review conversations, we look beyond investment performance to consider whether your plan remains aligned with your life.
Measuring More Than Investment Performance
Investment performance matters, but it isn't the only measure of financial progress.
We also consider the outcomes your wealth is intended to support.
Are you progressing toward retirement?
Can your anticipated spending be supported?
Do you have appropriate liquidity?
Is your investment risk aligned with your objectives?
Are important family and legacy priorities being addressed?
Are there financial transitions we should begin preparing for now?
Ultimately, the purpose of managing wealth is not simply to accumulate assets. It's to help those assets support the life you want to live.
Investing With Purpose
We believe an investment portfolio should have a purpose.
For our clients, that purpose is defined by their financial plan.
Before determining how assets should be invested, we seek to understand what those assets need to accomplish. Retirement income, long-term growth, liquidity, legacy goals, major future expenses and tolerance for risk can all influence the appropriate investment strategy.
This allows us to approach investment management not as a standalone exercise, but as one component of a broader wealth strategy.
From Financial Plan to Investment Strategy
A financial plan helps establish the destination.
Investment management helps determine how your assets can work toward getting you there.
When developing an investment strategy, we consider factors such as:
- Your financial objectives
- Time horizon
- Income and cash-flow needs
- Liquidity requirements
- Existing investments
- Concentrated positions
- Tolerance and capacity for risk
- Tax considerations
- Estate and legacy objectives
- Changing market and economic conditions
No single investment approach is appropriate for every client.
Our objective is to develop a strategy that reflects your individual circumstances and the role your portfolio needs to play within your overall financial plan.
Risk With a Reason
Investment risk should not exist simply for the pursuit of higher returns.
We believe the amount and types of risk within a portfolio should be considered in relation to what you're trying to accomplish.
Financial planning can provide important context.
A client whose plan indicates significant flexibility may approach investment risk differently from someone whose lifestyle depends heavily upon portfolio withdrawals in the near future.
Understanding that distinction helps us have a more meaningful conversation about risk than a questionnaire alone can provide.
Access to Morgan Stanley's Investment Resources
As part of Morgan Stanley, our clients have access to the firm's global investment resources, research, intellectual capital and broad range of investment solutions.
Depending on a client's individual circumstances and eligibility, an investment strategy may incorporate traditional investments, professionally managed solutions and alternative investments.
We use these resources selectively, with the objective of constructing a portfolio appropriate for each client's financial strategy rather than simply adding complexity.
Ongoing Portfolio Oversight
Investment management is an ongoing process.
Markets change. Asset values change. Your financial circumstances change.
We continue to evaluate your portfolio in the context of your financial plan and can make adjustments as appropriate.
Our conversations may include asset allocation, portfolio risk, liquidity, income needs, rebalancing, changing market conditions and whether your investment strategy continues to support your broader objectives.
The question isn't simply:
"How did the portfolio perform?"
It is also:
"Is the portfolio continuing to do the job your financial plan requires it to do?"
Staying Focused Through Changing Markets
Periods of market volatility can create uncertainty even for experienced investors.
Having a financial plan provides context during those periods.
Rather than allowing short-term market movements alone to dictate long-term decisions, we can return to the plan:
Have your goals changed?
Has your time horizon changed?
Have your income or liquidity needs changed?
Has something fundamentally changed that requires a different strategy?
If not, the financial plan can help provide perspective.
Our role is to help clients remain informed, evaluate new information thoughtfully and make investment decisions in the context of their long-term objectives.
What is Your Wealth For?
Accumulating wealth is an accomplishment.
Deciding what you want that wealth to make possible is something different.
For some clients, wealth represents independence—the ability to retire confidently and spend their time as they choose. For others, it means experiences with family, helping children or grandchildren, supporting a cause, building a business or leaving something meaningful behind.
Often, it's a combination of all of these.
We believe understanding the purpose behind your wealth is an important part of managing it well.
Living Well Today While Planning for Tomorrow
Financial planning shouldn't focus so heavily on the future that it overlooks the life you're living now.
One of the most valuable questions a plan can help address is whether your resources allow you to do more of what matters to you today while remaining prepared for tomorrow.
That might mean traveling more, buying a second home, retiring earlier, helping a child, spending more time with family or simply having confidence that you don't need to worry about every financial decision.
A financial plan can help provide perspective around those choices.
Helping the People You Love
Financial success often creates opportunities to help others.
But generosity can raise important questions.
How much can you give without affecting your own security?
Should you help children today or leave assets later?
How should education for grandchildren fit into the plan?
How do you balance treating family members fairly when their circumstances are different?
There isn't one correct answer.
We help clients consider these decisions within the context of their broader financial plan so that generosity and long-term financial security can be evaluated together.
Creating a Meaningful Legacy
Legacy means different things to different people.
It may involve transferring assets to children and grandchildren, supporting charitable organizations, preserving a family business or simply making life easier for the people you leave behind.
We help clients think about what they want their wealth to accomplish and how today's financial decisions may support those intentions.
When estate, tax or legal considerations are involved, we can work with your outside tax and legal professionals as appropriate.
Preparing the Next Generation
Transferring wealth and preparing someone to manage it are not necessarily the same thing.
Families with significant assets may eventually need to consider how future generations understand money, responsibility and the intentions behind the family's wealth.
Those conversations can begin long before an inheritance occurs.
Where appropriate, we can help families bring the next generation into financial conversations and provide education designed to help them better understand investing, planning and the responsibilities that may accompany wealth.
Navigating the Unexpected
Not every important financial event can be planned years in advance.
Life may bring an inheritance, loss of a spouse, divorce, career change, health event, business transition or other significant change.
In those moments, it can be helpful to have an advisory team that already understands your financial picture and long-term priorities.
We can help organize the decisions ahead, identify what requires immediate attention and determine what may be better addressed after you've had time to consider your options.
Wealth With Intention
The purpose of wealth management isn't simply to manage more money.
It's to help you make thoughtful decisions about what that money can do.
Our goal is to help clients bring intention to those decisions—so their wealth can support the people, experiences and priorities that matter most to them.
That's where we believe financial planning and investment management become something more meaningful.
AWARD-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
40705 Woodward Ave 2nd
Fl
Bloomfield Hills, MI 48304
US
Direct:
(248) 723-1832(248) 723-1832
Meet The NEA Group
Amy Birdsong, CFP®
Wealth Management Associate
Phone:
(248) 723-1849(248) 723-1849
Chris Lakatos
Registered Client Relationship Analyst
Phone:
(708) 226-5464(708) 226-5464
William Geller
Phone:
(248) 593-7548(248) 593-7548
Matilda Carr
Registered Client Relationship Analyst
Phone:
(248) 258-0493(248) 258-0493
About Stuart Solomon
Direct: (248) 723-1832
Toll-Free: (800) 334-8866
Toll-Free: (800) 334-8866
Securities Agent: VA, SC, PA, FL, WA, UT, TX, CO, KY, WI, OH, NY, KS, IN, NM, MD, AZ, RI, NC, OR, IL, NV, NJ, MI, CT, GA, DE, TN, MN, MA, CA; General Securities Representative; Investment Advisor Representative
NMLS#: 1393574
CA Insurance License #: 0M18567
NMLS#: 1393574
CA Insurance License #: 0M18567
About Amy Birdsong
Amy Birdsong, CFP® brings more than two decades of financial services experience to The NEA Group, with a particular focus on comprehensive financial planning and helping clients navigate the increasingly complex decisions that can accompany accumulated wealth.
As a CERTIFIED FINANCIAL PLANNER® practitioner, Amy works closely with clients to understand their complete financial picture and connect their investments with the broader goals they are working toward. She helps clients think through retirement, cash flow, major financial decisions, family priorities and other planning considerations while working alongside the broader NEA team to develop coordinated wealth strategies.
Amy began her financial services career in 2001 as a Personal Banker, developing an early foundation in banking, client service and financial solutions. In 2012, she transitioned to private banking, where she worked closely with high net worth clients and gained extensive experience serving families with more sophisticated financial needs.
Her commitment to financial planning led her to earn the Financial Planning Specialist designation and later become a CERTIFIED FINANCIAL PLANNER® practitioner.
Today, Amy combines that planning background with her banking experience and deep understanding of the client relationship to help deliver the comprehensive experience The NEA Group strives to provide. She works closely with clients throughout the planning process, helps them navigate complex financial decisions and serves as an ongoing resource as their circumstances and priorities evolve.
Amy believes financial planning is most valuable when it helps people feel more informed about their choices and more intentional about what they want their wealth to accomplish.
Outside of work, Amy enjoys strength training and sports and volunteers her time with youth baseball and animal rescue organizations.
As a CERTIFIED FINANCIAL PLANNER® practitioner, Amy works closely with clients to understand their complete financial picture and connect their investments with the broader goals they are working toward. She helps clients think through retirement, cash flow, major financial decisions, family priorities and other planning considerations while working alongside the broader NEA team to develop coordinated wealth strategies.
Amy began her financial services career in 2001 as a Personal Banker, developing an early foundation in banking, client service and financial solutions. In 2012, she transitioned to private banking, where she worked closely with high net worth clients and gained extensive experience serving families with more sophisticated financial needs.
Her commitment to financial planning led her to earn the Financial Planning Specialist designation and later become a CERTIFIED FINANCIAL PLANNER® practitioner.
Today, Amy combines that planning background with her banking experience and deep understanding of the client relationship to help deliver the comprehensive experience The NEA Group strives to provide. She works closely with clients throughout the planning process, helps them navigate complex financial decisions and serves as an ongoing resource as their circumstances and priorities evolve.
Amy believes financial planning is most valuable when it helps people feel more informed about their choices and more intentional about what they want their wealth to accomplish.
Outside of work, Amy enjoys strength training and sports and volunteers her time with youth baseball and animal rescue organizations.
Contact Stuart Solomon
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
Iran Conflict: Seven Takeaways for Investors
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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 NEA Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
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For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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6When 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.
7When 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.
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Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
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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.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
3Morgan 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.
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.
4Alternative 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.
5Morgan 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.
6When 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.
7When 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.
8Morgan 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
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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.
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)
