Michael A. Pasqua, CFA
Senior Vice President, Financial Advisor
Phone:
(952) 475-4385(952) 475-4385
The Pasqua Burton Scanlon Group at Morgan Stanley
Direct:
(952) 475-4300(952) 475-4300
Our Mission Statement
Managing Your Wealth through Customized Solutions
Our Story
At The Pasqua Burton Scanlon Group, empowering our clients to achieve their financial goals is the founding principle that drives our practice.
Whether we are advising a couple on how to preserve wealth and provide income during retirement, assisting an executive with sophisticated investment strategies or guiding a business owner through a life-changing liquidity event, we are dedicated to helping our clients manage their assets more effectively. We accomplish this through the development of long-term relationships and by continually aligning our clients’ personal ambitions and values with their specific wealth management goals.
Our clients believe, as we do, in the importance of building a longstanding relationship with their wealth management team. They have grown to depend on our proactive, high service model that is specially designed to ensure every client feels like our only client. Above all, as a male-female advisory team who understands the importance of family and the financial freedom to pursue personal interests, they appreciate our true passion for finding solutions to their specific life challenges.
As seasoned professionals, we enjoy sharing our knowledge and experiences with our clients, providing perspective and financial guidance as they take on new challenges. Committed to helping you grow and preserve your assets, we will work to earn your trust, so we may proudly be recognized as your financial family – through every one of life’s important milestones.
Whether we are advising a couple on how to preserve wealth and provide income during retirement, assisting an executive with sophisticated investment strategies or guiding a business owner through a life-changing liquidity event, we are dedicated to helping our clients manage their assets more effectively. We accomplish this through the development of long-term relationships and by continually aligning our clients’ personal ambitions and values with their specific wealth management goals.
Our clients believe, as we do, in the importance of building a longstanding relationship with their wealth management team. They have grown to depend on our proactive, high service model that is specially designed to ensure every client feels like our only client. Above all, as a male-female advisory team who understands the importance of family and the financial freedom to pursue personal interests, they appreciate our true passion for finding solutions to their specific life challenges.
As seasoned professionals, we enjoy sharing our knowledge and experiences with our clients, providing perspective and financial guidance as they take on new challenges. Committed to helping you grow and preserve your assets, we will work to earn your trust, so we may proudly be recognized as your financial family – through every one of life’s important milestones.
Services Include
- 401(k) Rollovers
- 529 PlansFootnote1
- Alternative InvestmentsFootnote2
- AnnuitiesFootnote3
- Asset Management
- Cash ManagementFootnote4
- Corporate BondsFootnote5
- Divorce Financial AnalysisFootnote6
- Estate Planning StrategiesFootnote7
- Financial PlanningFootnote8
- Fixed IncomeFootnote9
- Lending Products
- Life InsuranceFootnote10
- Municipal BondsFootnote11
- Philanthropic Services
- Planning for Education FundingFootnote12
- Professional Portfolio ManagementFootnote13
- Qualified Retirement PlansFootnote14
- Retirement PlanningFootnote15
- Stock Option PlansFootnote16
- SyndicateFootnote17
- Wealth ManagementFootnote18
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Working With You
Your goals, hopes and dreams are at the center of our work. That's why we'll plan to meet with you at length when you first begin working with us. We'll ask smart questions and listen carefully, because what you say matters. Once we have a full understanding of your goals and objectives, we'll suggest ways to begin putting your money to work.
Step 1: Discovery
Our relationship begins with learning more about you. We take the time to fully understand you and your family by evaluating financial needs and investment preferences. We consider all of your challenges, goals, and aspirations when building your financial picture.
Step 2: Goals-Based Planning
Using your life goals as our compass, we create a risk-balanced strategy which maps a clear path to achieving your financial success. Our strategy incorporates your investment objectives, timeline, cash requirements and risk tolerance.
Step 3: Implementation
We apply extensive research and analysis, and also utilize Morgan Stanley's full suite of resources, to ensure decisive action in all market scenarios.
Step 4: Performance Check-In
Our team creates a personalized agenda for each meeting. We check in with you to deliver metrics around your portfolio and measure trajectory towards your goals. Our ultimate mission is your financial success and well-being.
Working With You
We believe the best relationships are built on trust, understanding and shared values. We also believe a disciplined philosophy and process are critical to achieving your investment goals in today’s market environment. To that end, we are committed to the following core values that serve as the foundation of our practice:
Enduring Relationships
We are dedicated to building long-lasting relationships, based on trust and integrity. We do this by working with a select group of clients. This enables us to dedicate the time, attention and focus each deserves. We guide them through each challenge by maintaining this close relationship, and by providing the experience, solutions and strategies to help keep them on course.
Total Balance Sheet Management
We are committed to acting as your lead advisor for all your financial needs. Our process begins with comprehensive financial planning to understand your goals, dreams and concerns. Whether you need assistance with growth, asset protection or income planning, we hope to be your first phone call for any decision.
Highly Personalized Service
We believe we can earn your trust not only through the quality of investment solutions we present, but also through the personalized approach with which we deliver them. Our ultimate goal is to empower you to spend more time doing those things that matter most to you, knowing we are working hard to help ensure your continued prosperity.
Clients
Over the years, we have developed a strong and active practice that includes a broad range of clients. Essentially, all either have accumulated significant assets or have significant income, yet need help in developing a plan to:
- Approach a major life-changing event with confidence, such as
the transition to retirement, the loss of a spouse or the sale of
a business
- Finance a major acquisition, including the purchase of a new
property or expansion of a business
- Serve future generations and leave a lasting legacy
Our clients include:
- Approach a major life-changing event with confidence, such as
the transition to retirement, the loss of a spouse or the sale of
a business
- Finance a major acquisition, including the purchase of a new
property or expansion of a business
- Serve future generations and leave a lasting legacy
Our clients include:
Multi-Generational Private Wealth Families
Corporate Executives
Medical and Legal Professionals
Business Owners and Entrepreneurs
Professional Athletes with a focus on NHL Players
Modern Wealth Tools
Morgan Stanley Online
Morgan Stanley Online (MSO) has a variety of digital features that help you keep track of your finances. They include mobile check deposit, paying your bills online, sending money through Zelle®, and accessing current market data, research, company profiles and quotes.
Morgan Stanley Online
Morgan Stanley Mobile App
Securely access your Morgan Stanley account–from virtually anywhere.
Morgan Stanley Mobile App
Total Wealth View
It’s hard to see the complete picture with only half of the details. As a Morgan Stanley client, you can now conveniently view your accounts from other financial institutions in one location to give you and your financial advisor a full picture of your financial wealth and health.
Total Wealth View
Digital Vault
Digital Vault, available on Morgan Stanley Online and the Mobile App, allows you to build a centralized document library where files are stored using encryption.
Digital VaultLocation
445 East Lake Street
Suite 320
Wayzata, MN 55391
US
Direct:
(952) 475-4300(952) 475-4300
Meet The Pasqua Burton Scanlon Group
Keri R. Burton, CFP®
Senior Vice President, Financial Advisor
Phone:
(952) 475-4393(952) 475-4393
Phone:
(612) 979-5847(612) 979-5847
Bethany Justen
Portfolio Associate
Phone:
(952) 475-4371(952) 475-4371
About Michael A. Pasqua
For over 20 years, Michael has been providing highly customized advice, investment strategies and financial planning services to affluent individuals and families, corporate executives, retirees and business owners in the Minneapolis/St. Paul area. With a passion for comprehensive wealth management, he delivers objective advice through exceptional “high touch” service to the clients he proudly serves.
After earning his B.A. degree in Economics and Accounting from the College of the Holy Cross, Michael joined a national accounting firm as a Tax Accountant. It is here where he discovered his true calling for wanting to advise clients beyond their tax and accounting needs. This led him to establish his own wealth management firm in 2001, focused on financial planning and portfolio management. After nine years of building a successful practice, Michael joined Morgan Stanley, where he soon joined Keri Burton to form The Pasqua-Burton Group.
Throughout his career, Michael has been committed to continuing education, a cornerstone of his dynamic practice. In 2003, he earned the designation of Chartered Financial Analyst (CFA®) from the CFA Institute, of which he is now a member. By advising his clients on how to help effectively grow, preserve and transition their wealth, he has earned the reputation of being a valued advisor. Michael has been recognized as a Forbes Best-In-State Wealth Advisor for Minnesota in 2022, 2023 and 2024.
2022, 2023 & 2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2022, 2023 & 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023, 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.
https://www.morganstanley.com/disclosures/awards-disclosure.html
After earning his B.A. degree in Economics and Accounting from the College of the Holy Cross, Michael joined a national accounting firm as a Tax Accountant. It is here where he discovered his true calling for wanting to advise clients beyond their tax and accounting needs. This led him to establish his own wealth management firm in 2001, focused on financial planning and portfolio management. After nine years of building a successful practice, Michael joined Morgan Stanley, where he soon joined Keri Burton to form The Pasqua-Burton Group.
Throughout his career, Michael has been committed to continuing education, a cornerstone of his dynamic practice. In 2003, he earned the designation of Chartered Financial Analyst (CFA®) from the CFA Institute, of which he is now a member. By advising his clients on how to help effectively grow, preserve and transition their wealth, he has earned the reputation of being a valued advisor. Michael has been recognized as a Forbes Best-In-State Wealth Advisor for Minnesota in 2022, 2023 and 2024.
2022, 2023 & 2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2022, 2023 & 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2023, 2024 & 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023, 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.
https://www.morganstanley.com/disclosures/awards-disclosure.html
Securities Agent: SD, OR, NH, OH, NM, ME, AZ, WY, UT, MN, MI, MA, CO, TX, IN, PA, MO, WI, NY, IL, CA, CT, NV, NE, ND, AK, SC, NC, FL, WA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1272733
NMLS#: 1272733
About Keri R. Burton
Keri is dedicated to understanding her clients’ true passions, so she may customize wealth management strategies that ignite the purpose behind their wealth. She learned first-hand the power of financial planning. At the age of 23, her family suffered a fatal car accident where her mother died at the age of 49, and she suffered significant injuries herself. This experience had a profound impact on her decision to continue her path as an advisor. She wanted to work in a profession where she could help families make important financial decisions, but she wanted to do it in a manner that would emphasize the meaning and purpose of their lives.
A seasoned professional, Keri takes pride in her ability to deeply listen to her clients. Her mantra, “what is most important to you, is most important to me,” guides her process, enabling her to challenge each client to get to the heart of what matters most. This information then serves as the foundation of a custom financial plan that can be adapted to respond to life changes, while withstanding the volatility of today’s markets.
Keri graduated from St. Cloud University with a B.S. degree in Finance and began her career as a Financial Advisor at Northwestern Mutual Life. Over the next few years, after recovering from the accident, she worked at several financial institutions. She joined Morgan Stanley in 2010, partnering with Michael to establish The Pasqua-Burton Group. Keri earned her CERTIFIED FINANCIAL PLANNING™ designation from The Certified Financial Planner Board of Standards in 2012. Keri was also recognized in 2019, 2023 & 2025 by Five Star Professional as a Five-Star Wealth Manager in Minneapolis/St. Paul.
2019, 2023 & 2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com 2019, 2023 & 2025. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria, during the following periods:
2025 Award - 3/13/24-10/29/24
2023 Award - 3/14/22-10/18/22
2019 Award - 3/23/18-10/23/18
2023, 2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023, 2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
A seasoned professional, Keri takes pride in her ability to deeply listen to her clients. Her mantra, “what is most important to you, is most important to me,” guides her process, enabling her to challenge each client to get to the heart of what matters most. This information then serves as the foundation of a custom financial plan that can be adapted to respond to life changes, while withstanding the volatility of today’s markets.
Keri graduated from St. Cloud University with a B.S. degree in Finance and began her career as a Financial Advisor at Northwestern Mutual Life. Over the next few years, after recovering from the accident, she worked at several financial institutions. She joined Morgan Stanley in 2010, partnering with Michael to establish The Pasqua-Burton Group. Keri earned her CERTIFIED FINANCIAL PLANNING™ designation from The Certified Financial Planner Board of Standards in 2012. Keri was also recognized in 2019, 2023 & 2025 by Five Star Professional as a Five-Star Wealth Manager in Minneapolis/St. Paul.
2019, 2023 & 2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com 2019, 2023 & 2025. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria, during the following periods:
2025 Award - 3/13/24-10/29/24
2023 Award - 3/14/22-10/18/22
2019 Award - 3/23/18-10/23/18
2023, 2024 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023, 2024). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Securities Agent: NC, MO, IN, AZ, WY, CT, NV, ME, WI, NH, IL, WA, TX, PA, NM, CO, OR, OH, NE, ND, FL, CA, UT, MN, MA, AK, MD, SD, SC, NY, MI; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1265107
NMLS#: 1265107
About Nicole Scanlon
Nicole focuses on providing clients with highly customized guidance, particularly focusing on the implementation of financial, tax and estate planning strategies for high-net-worth individuals and families.
As a former estate planning attorney, Nicole is especially attuned to understanding how a client’s estate plan integrates with their financial plan and how to help manage tax liabilities relating to their investments.
Nicole has also received her Family Wealth Director designation which is awarded to less than 5% of Morgan Stanley Advisors (as of 12/31/24). As a Family Wealth Director, Nicole has comprehensive training and insight into working with ultra-high-net worth families to help assist them in areas such as business succession planning, wealth transfer, family governance and education and philanthropic services.
Nicole has also been recognized in 2023, 2024 and 2025 as a Five-Star Wealth Manager in the Minneapolis/St. Paul area by Five Star Professionals.
Outside of work, Nicole remains active in her community by volunteering and supporting nonprofits. Nicole is a board member of Athletes Committed to Educating Students (ACES) and serves on the board of directors of Diverse Daisies.
Nicole and her husband have a young daughter and son and enjoy traveling and staying active with them.
2023-2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2023-2025) These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2025 Award - 03/13/24 - 10/29/24
2024 Award - 03/13/23 - 09/29/23
2023 Award - 03/14/22 - 10/18/22
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. 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.
As a former estate planning attorney, Nicole is especially attuned to understanding how a client’s estate plan integrates with their financial plan and how to help manage tax liabilities relating to their investments.
Nicole has also received her Family Wealth Director designation which is awarded to less than 5% of Morgan Stanley Advisors (as of 12/31/24). As a Family Wealth Director, Nicole has comprehensive training and insight into working with ultra-high-net worth families to help assist them in areas such as business succession planning, wealth transfer, family governance and education and philanthropic services.
Nicole has also been recognized in 2023, 2024 and 2025 as a Five-Star Wealth Manager in the Minneapolis/St. Paul area by Five Star Professionals.
Outside of work, Nicole remains active in her community by volunteering and supporting nonprofits. Nicole is a board member of Athletes Committed to Educating Students (ACES) and serves on the board of directors of Diverse Daisies.
Nicole and her husband have a young daughter and son and enjoy traveling and staying active with them.
2023-2025 Five Star Wealth Manager Award
Source: fivestarprofessional.com (Awarded 2023-2025) These awards were determined through an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods:
2025 Award - 03/13/24 - 10/29/24
2024 Award - 03/13/23 - 09/29/23
2023 Award - 03/14/22 - 10/18/22
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. 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.
Securities Agent: PA, NC, WY, UT, OH, NY, MO, ME, OR, FL, CO, ND, IL, SC, MN, IA, AK, TX, MA, IN, MI, CT, NV, WI, NH, HI, WA, SD, NM, NE, CA, AZ; General Securities Representative; Investment Advisor Representative
NMLS#: 2500579
NMLS#: 2500579
Contact Michael A. Pasqua
Contact Keri R. Burton
Contact Nicole Scanlon
Wealth Management
Global Investment Office
Portfolio Insights
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?
Article Image
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
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
Article Image
Ready to start a conversation? Contact The Pasqua Burton Scanlon 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.
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
2Alternative 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.
3Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
4Morgan 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
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7Morgan Stanley Smith Barney LLC (“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.
8Morgan 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.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Municipal 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.
12When 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.
13Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
14When 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.
15When 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.
16Morgan 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.
17Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
18Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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.
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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.
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*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards 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
1Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
2Alternative 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.
3Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
4Morgan 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
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7Morgan Stanley Smith Barney LLC (“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.
8Morgan 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.
9Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Municipal 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.
12When 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.
13Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
14When 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.
15When 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.
16Morgan 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.
17Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
18Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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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
CRC 6491812 (04/2024)
