Senior Vice President, Wealth Management, Financial Advisor, Senior Portfolio Manager, Family Wealth Advisor
Phone:
(716) 849-2309(716) 849-2309
The Rauch Schoellkopf Group at Morgan Stanley
Direct:
(716) 849-2309(716) 849-2309
Our Mission Statement
Through experience, intellectual capital and personalized strategies, we focus on helping our clients and their families by overseeing the life cycles of their financial affairs.
Welcome
Welcome to The Rauch Schoellkopf Group at Morgan Stanley.
We are dedicated to providing our clients with the resources needed for the enhancement of financial and social capital, the preservation of their legacy, and to help develop a work-optional lifestyle.
The Rauch Schoellkopf Group delivers a high-quality experience to a select group of high-net-worth individuals, their families, foundations, and businesses by providing advice founded on a culture of excellence and driven by global insight. Our team’s professionals deliver the resources of Morgan Stanley within the context of an elite, independent family office.
2023 Forbes Best-In-State Wealth Advisors.
2024 Forbes Best-In-State Wealth Management Teams.
We are incredibly proud to have been named one of Forbes Best-In-State Wealth Management Teams for 2023 and 2024. It’s an honor to be recognized among this group of outstanding professionals who consistently work to raise the standards in our industry.
Our five group partners have combined experience of over 100 years(*), and are equipped to guide you in achieving your financial and personal goals, no matter what stage of your financial life you are in. Whether in the asset accumulation and growth stage, the distribution and income stage, or focused on multi-generational planning, protection or gifting, we will be there to help you live for today while planning for tomorrow.
(*) Team Member Experience: J. Brad Rauch, 28 years; J. Fred Schoellkopf, 32 years; Julie Fritz, 22 years;
Source: Forbes (Awarded Jan 2023). Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/22.
SOURCE: FORBES.COM (AWARDED JAN 2024) DATA COMPILED BY SHOOK RESEARCH LLC BASED ON TIME PERIOD FROM 3/31/22-3/31/23.
We are dedicated to providing our clients with the resources needed for the enhancement of financial and social capital, the preservation of their legacy, and to help develop a work-optional lifestyle.
The Rauch Schoellkopf Group delivers a high-quality experience to a select group of high-net-worth individuals, their families, foundations, and businesses by providing advice founded on a culture of excellence and driven by global insight. Our team’s professionals deliver the resources of Morgan Stanley within the context of an elite, independent family office.
2023 Forbes Best-In-State Wealth Advisors.
2024 Forbes Best-In-State Wealth Management Teams.
We are incredibly proud to have been named one of Forbes Best-In-State Wealth Management Teams for 2023 and 2024. It’s an honor to be recognized among this group of outstanding professionals who consistently work to raise the standards in our industry.
Our five group partners have combined experience of over 100 years(*), and are equipped to guide you in achieving your financial and personal goals, no matter what stage of your financial life you are in. Whether in the asset accumulation and growth stage, the distribution and income stage, or focused on multi-generational planning, protection or gifting, we will be there to help you live for today while planning for tomorrow.
(*) Team Member Experience: J. Brad Rauch, 28 years; J. Fred Schoellkopf, 32 years; Julie Fritz, 22 years;
Source: Forbes (Awarded Jan 2023). Data compiled by SHOOK Research LLC based on time period from 3/31/21 – 3/31/22.
SOURCE: FORBES.COM (AWARDED JAN 2024) DATA COMPILED BY SHOOK RESEARCH LLC BASED ON TIME PERIOD FROM 3/31/22-3/31/23.
Services Include
- Professional Portfolio ManagementFootnote1
- Wealth PlanningFootnote2
- Retirement PlanningFootnote3
- Executive Financial ServicesFootnote4
- Corporate Retirement PlansFootnote5
- Estate Planning StrategiesFootnote6
- Trust ServicesFootnote7
- Philanthropic ManagementFootnote8
- Cash Management and Lending ProductsFootnote9
- Alternative InvestmentsFootnote10
- Defined Contribution PlansFootnote11
- Financial PlanningFootnote12
- Planning for Education FundingFootnote13
- Stock Plan ServicesFootnote14
- Sustainable InvestingFootnote15
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Financial Planning
The cornerstone of an effective wealth management plan is comprehensive financial planning, capturing your goals, resources and expectations for the future. Effective planning helps to successfully fund education and retirement income funding. Planning helps eliminate blind spots, and helps ensure legacy goals are met.
GPS
Asset Management
After our financial planning process uncovers your goals, personal assets, liabilities, family dynamics and other unique circumstances, we create an investment strategy tailored to fit your individual needs. We make it a priority to educate our clients on the alignment between their goals and investment allocation.
Retirement Planning
Planning is imperative to securing a successful retirement. We bring intense focus and education to the retirement process, no matter where you are in your professional career, it is not too early to start preparing for your retirement. You have worked hard, or are working hard, to get to the retirement phase of life. Now it is up to us to help you live a work-optional lifestyle.
401k Rollovers
If you have a 401(k) from a previous job, we make it easy to consolidate your assets into one account so you can monitor your progress and investment results all in one place. With the benefit of added simplification from the client’s perspective, we also ensure that there is no risky overlap or concentration in securities. You also have the full suite of an open platform from which to choose investments from.
Trust and Estate Services
A critical part of any financial plan is ensuring your assets are titled in a way that fits your specific needs, wants and wishes, while keeping taxes in mind. Whether you choose to leave assets to family members, endowments, or charities, we provide the access and guidance needed to align your assets to your goals. When necessary or requested, we work with any other financial, tax, or estate advisors you have.
Legacy Planning
We provide white-glove service to each client, and we feel that each family member of our clients should be treated as clients as well. Our practice is expanding and evolving alongside the families we work with, so we believe it is imperative to be able to offer the same level of service to the next generation(s). We believe starting financial education early is the best way to understand the complexities of effective wealth management.
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Total Wealth View
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Trust ServicesUpcoming Firm Events
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U.S. Policy Pulse: 100 Days of Trump 2.0
DATE: April 24, 2025 at 4:15 p.m. ETWhat do the policies of the administration's first 100 days indicate for the economy and the markets? Join Morgan Stanley Wealth Management Chief Investment Officer, Lisa Shalett, for a conversation with Global Head of Government Relations, Michael J. Stein, and Head of U.S. Policy, Monica Guerra, about potential implications for investors.Can't attend the live event? Register anyway for access to the replay.
4398292 04/2025
Online
Location
50 Fountain Plaza
Suite 400
Buffalo, NY 14202
US
Direct:
(716) 849-2309(716) 849-2309
Meet The Rauch Schoellkopf Group
Phone:
(716) 849-4803(716) 849-4803
Julie Fritz
Portfolio Associate
Phone:
(716) 849-4845(716) 849-4845
Lisy Pena
Client Service Associate
Phone:
(716) 667-5004(716) 667-5004
About J. Bradley Rauch
Brad is a Senior Vice President, Wealth Management in the Buffalo, NY office of Morgan Stanley.
A 26-year financial advisor veteran, Brad focuses on the comprehensive wealth management for business owners, executives and retirees across the country. Brad helps develop customized, sophisticated investment solutions utilizing an objective approach to wealth management for his clients and their families. He helps families by overseeing the life cycles of their family affairs whether it is Asset Accumulation and Growth, Distribution and Income, or the Multigenerational Transfer and Planning.
Prior to joining Morgan Stanley, Brad spent 5 years as a real estate agent with Hunt Commercial Real Estate, where he was recognized as their top sales and leasing agent early on in his career. Brad’s understanding of the real estate business also helps when discussing with clients real estate as an investment.
A highly regarded professional, Brad holds a bachelor’s degree in Economics & Canadian Studies from St. Lawrence University. He currently holds the Morgan Stanley title of Senior Portfolio Manager. Brad is also an active member of the Orchard Park Academy of Finance Advisory Board and past member of the Historical Preservation Board for the Town of Orchard Park.
Brad’s interest and hobbies revolve around the outdoors whether hunting, fishing or gardening and spending time in Georgian Bay, Ontario with his family. He also enjoys building and renovation projects, whether it is a historic house, classic boats or antique furniture. Brad is a certified Alpine Ski Racing Coach, volunteering his time helping young ski racers compete locally and across New York State and sits on the board of the New York State Ski Racing Association.
Brad lives in a historic home in Orchard Park, NY with his wife, Kristina, and their four children.
A 26-year financial advisor veteran, Brad focuses on the comprehensive wealth management for business owners, executives and retirees across the country. Brad helps develop customized, sophisticated investment solutions utilizing an objective approach to wealth management for his clients and their families. He helps families by overseeing the life cycles of their family affairs whether it is Asset Accumulation and Growth, Distribution and Income, or the Multigenerational Transfer and Planning.
Prior to joining Morgan Stanley, Brad spent 5 years as a real estate agent with Hunt Commercial Real Estate, where he was recognized as their top sales and leasing agent early on in his career. Brad’s understanding of the real estate business also helps when discussing with clients real estate as an investment.
A highly regarded professional, Brad holds a bachelor’s degree in Economics & Canadian Studies from St. Lawrence University. He currently holds the Morgan Stanley title of Senior Portfolio Manager. Brad is also an active member of the Orchard Park Academy of Finance Advisory Board and past member of the Historical Preservation Board for the Town of Orchard Park.
Brad’s interest and hobbies revolve around the outdoors whether hunting, fishing or gardening and spending time in Georgian Bay, Ontario with his family. He also enjoys building and renovation projects, whether it is a historic house, classic boats or antique furniture. Brad is a certified Alpine Ski Racing Coach, volunteering his time helping young ski racers compete locally and across New York State and sits on the board of the New York State Ski Racing Association.
Brad lives in a historic home in Orchard Park, NY with his wife, Kristina, and their four children.
Securities Agent: NY, DE, WI, MI, FL, PA, KY, VA, OR, MD, LA, NJ, MA, IN, DC, UT, TN, OH, NV, WA, NM, MT, MO, ME, IA, CT, SC, NC, GA, AZ, WY, KS, IL, CO, CA, TX; General Securities Representative; Investment Advisor Representative
NMLS#: 1279618
NMLS#: 1279618
About J. Fred Schoellkopf, VI
Fred Schoellkopf is a Vice President and Wealth Advisor with the Rauch Schoellkopf Group at Morgan Stanley. A sixth-generation Buffalo native with over 30 years of wealth management experience, Fred focuses on financial planning and investment strategies that address the unique concerns of professionals, business owners, retirees and families.
Deeply rooted in his community, Fred served as Treasurer and Board Member of Friends of Night People for over twenty years, and was the past President of Symphony Circle, an extension of the Buffalo Philharmonic Orchestra. Fred also enjoys being a member of the Buffalo Club and spending time with his two grown children, Jacob and Emily.
Deeply rooted in his community, Fred served as Treasurer and Board Member of Friends of Night People for over twenty years, and was the past President of Symphony Circle, an extension of the Buffalo Philharmonic Orchestra. Fred also enjoys being a member of the Buffalo Club and spending time with his two grown children, Jacob and Emily.
Securities Agent: NJ, IL, TX, LA, AZ, WY, MI, VA, CT, NV, NY, NC, PA, OH, UT, TN, MD, KS, DE, WA, IN, WI, OR, MT, MO, ME, IA, GA, FL, DC, CO, CA, SC, NM, MA, KY; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 2158256
NMLS#: 2158256
About Julie Fritz
Julie Fritz is a Client Service Associate and Portfolio Associate on the Rauch Schoellkopf Group. After joining Morgan Stanley in 2000, Julie spent 15 years with a former team and has been working with Brad Rauch since October 2015.
Julie's experience lies in her attention to detail and her proficient handling of all client administrative needs including portfolio reviews, trade implementation, account maintenance, service-related projects and operational matters. Julie is passionate about her work and is dedicated to providing a high level of personalized service to clients.
Julie graduated from Canisius College with a B.S. degree in Finance and holds the Series 3, 7, 63 and 66 securities licenses as well as the IMCA Correspondence designation.
Julie resides in Clarence Center, NY with her husband Scott, their son Cooper and their dog Maddison, an SPCA rescue. Julie enjoys spending time with her family, bike riding, kayaking and crafting hand-made greeting cards.
Julie's experience lies in her attention to detail and her proficient handling of all client administrative needs including portfolio reviews, trade implementation, account maintenance, service-related projects and operational matters. Julie is passionate about her work and is dedicated to providing a high level of personalized service to clients.
Julie graduated from Canisius College with a B.S. degree in Finance and holds the Series 3, 7, 63 and 66 securities licenses as well as the IMCA Correspondence designation.
Julie resides in Clarence Center, NY with her husband Scott, their son Cooper and their dog Maddison, an SPCA rescue. Julie enjoys spending time with her family, bike riding, kayaking and crafting hand-made greeting cards.
About Lisy Pena
Lisy Pena joined the Morgan Stanley family in 2014. In her role as Registered Associate, Lisy is focused on servicing the clients they work with by building deep client relationships in order to effectively assist with their needs. Her extensive client service and operational knowledge are an essential contribution to the The Rauch Schoellkopf Group and clients they serve each day.
Prior to Morgan Stanley, Lisy began her career in the financial industry in 2006 at Mercantile Commerce bank, Miami-Florida. She has a Bachelor Degree in Economics as well as a Master Business Administration in Finance from Florida International University (FIU). Lisy successfully completed her Series 3, Series 7, Series 66, and is currently studying to obtain the New York Life & Health insurance license. She is bilingual, fluent in Spanish and English.
Lisy was born and raised in Cuba. She came to United States in 2006, and immediately started working at a financial institution. Lisy became a US citizen in 2012 and graduated from the FIU in 2013. In 2017 she left Miami’s warm weather and transferred to the Morgan Stanley Orchard Park’s Branch in upstate New York, where she can experience all four seasons.
Outside of work, she enjoys traveling, dancing and to learn about different cultures as well as trying different cuisines.
Prior to Morgan Stanley, Lisy began her career in the financial industry in 2006 at Mercantile Commerce bank, Miami-Florida. She has a Bachelor Degree in Economics as well as a Master Business Administration in Finance from Florida International University (FIU). Lisy successfully completed her Series 3, Series 7, Series 66, and is currently studying to obtain the New York Life & Health insurance license. She is bilingual, fluent in Spanish and English.
Lisy was born and raised in Cuba. She came to United States in 2006, and immediately started working at a financial institution. Lisy became a US citizen in 2012 and graduated from the FIU in 2013. In 2017 she left Miami’s warm weather and transferred to the Morgan Stanley Orchard Park’s Branch in upstate New York, where she can experience all four seasons.
Outside of work, she enjoys traveling, dancing and to learn about different cultures as well as trying different cuisines.
Contact J. Bradley Rauch
Contact J. Fred Schoellkopf, VI
Wealth Management
From Our Team
Link to: Introduction and Overview of The Rauch Schoellkopf Group
Wealth Management
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Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Donor Advised Funds: A Smart Way to Manage Your Giving
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Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Rauch Schoellkopf Group today.
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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.
3When 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5When 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.
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 and other legal matters.
7Morgan 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.
8Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
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.
9Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
10Alternative 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.
11When 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.
12Morgan 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.
13When 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.
14Morgan 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.
15The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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Awards Disclosures
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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.
3When 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
5When 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.
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 and other legal matters.
7Morgan 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.
8Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
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.
9Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
10Alternative 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.
11When 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.
12Morgan 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.
13When 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.
14Morgan 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.
15The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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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.
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.
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Awards Disclosures
CRC 6491812 (04/2024)
