Steven Lederer
Senior Vice President, Wealth Management, Financial Advisor, Portfolio Manager
Phone:
(212) 705-4570(212) 705-4570
The Reflective Group at Morgan Stanley
Direct:
(212) 705-4500(212) 705-4500
Toll-Free:
(800) 827-1512(800) 827-1512
Our Mission Statement
The Reflective Group aligns our clients’ goals, values and needs with holistic financial planning and design of investment portfolios.
The Reflective Group Mission
The Reflective Group at Morgan Stanley is a team of investment professionals who provide a world-class approach to investment portfolio structuring, management and overall client experience. Each team member brings their own distinctive skillset, creating a group focused on aligning with client goals and values through holistic financial planning and wealth management. Our discovery process leads to an in-depth understanding of our client's unique financial picture before designing a plan to address the complex challenges of helping preserve and grow financial assets. Our team's broad and deep experience allows us to provide bespoke solutions for individuals and families, as well as businesses and corporate executives.
The Reflective Group's core values in service to our clients:
Advise with Integrity
We take responsibility for our actions when working with our clients. Our diligence helps you plan and remain on track for your financial needs. All of our clients are treated with the same level of respect and attention.
Advise with Transparency
We engage in open and personal conversations with our clients. With both the delivery and experience of financial planning, our team will involve you completely throughout the continued process.
Advise with Insight
With combined experience that spans multiple economic cycles we help you get from where you are to where you want to be. Working together to determine what would fit your investment needs. Continuously monitoring and making appropriate adjustments to help you stay on track. While applying a combination of knowledge, information, and analysis to support the recommended changes.
Services Include
- Wealth ManagementFootnote1
- Financial PlanningFootnote2
- Asset Management
- Cash ManagementFootnote3
- Alternative InvestmentsFootnote4
- Sustainable InvestingFootnote5
- Retirement PlanningFootnote6
- Qualified Retirement PlansFootnote7
- Estate Planning StrategiesFootnote8
- Planning for Individuals with Special Needs and their Families
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Services We Provide
We are dedicated to providing the best in client experience. Using our team’s broad and deep industry experience allows us to provide bespoke solutions for individuals and families. Below is list a some of the services we provide to our clients on daily basis.
Working With You
Contact Us to Learn More
Weekly Report
View Our Insights Here
Wealth Management
Wealth management brings all the dimensions of your life together. We listen carefully to understand the connections across your personal life, your family, your career, and your legacy goals to develop an integrated strategy that is uniquely yours.
Learn More
Retirement Planning
Helping you understand the fundamentals of finance and put your resources to work, so you can plan, invest, and ultimately transition to retirement with confidence.
Learn More
Financial Planning
We aim to understand your financial goals and work with you to create a plan designed to help you achieve them.
Managing your finances is about more than managing your investments.
Learn MoreManaging your finances is about more than managing your investments.
Qualified Retirement Plans
From IRAs to RMDs, we manage the complexities of employer sponsored retirement plan assets.
Learn More
Asset Management
Our goal is to help you increase your total wealth over time by acquiring, maintaining, and trading investments that have the potential to grow in value.
Leran More
Estate Planning
We will help you make comprehensive arrangements to pass down wealth and assets. Proper estate planning gives careful consideration to the estate owner’s future plans, preferences and goals.
Learn More
Cash Management
Helping to create cashflows by consistently managing and monitoring the inflows and outflows of the individuals we service.
Learn More
Planning for Individuals with Special needs and their families
We help create specialized plans to enable your loved ones maintain their standard of living for a long term time frame.
Learn More
Alternative Investments
Asset classes that can deliver differentiated sources of return, in order help diversify a portfolio and serve as an inflation hedge, as well as provide potential income.
Learn More
Sustainable Investing
We create scalable sustainable and impact investing solutions that seek to deliver competitive financial returns, while driving positive environmental, social and governance (ESG) outcomes.
Learn MoreDigital Tools and Resources
Please find below links to resources you may find useful as you familiarize yourself with the Morgan Stanley Wealth Management platforms. If you have any questions, feel free to reach out to a member of the team.
Morgan Stanley Online
Be in control of all your finances with Morgan Stanley Online and Morgan Stanley Mobile App. Track your spending, create budgets, deposit checks, and pay bills are just a few things you can do. Take advantage of additional features like current news and market data
Access MSO
Total Wealth View
Keeping track of your finances may be difficult when you have multiple accounts at other financial institutions. Total Wealth View allows you to consolidate them on the Morgan Stanley Mobile App or Morgan Stanley Online to give you a more complete financial picture. This can help your confidence in your finances and planning for the future.
Total Wealth View
Goals Planning System
Have a goal you always wanted to accomplish? Along with your Financial Advisor and our Goals Planning System, you will be able to quantify your goals, get advice on what approach to take, and track your progress. GPS is designed to evolve as your life changes to help you reach your goal, even with varying situations.
Goals Planning System
Digital Vault
Digital Vault lets you easily and conveniently manage and share life’s most important documents, such as wills, deeds and estate plans, as well as financial statements and tax filings.
Digital Vault
eDelivery
eDelivery services ensure clients receive crucial financial documents efficiently and securely, enhancing their digital financial management.
eDelivery
eSign
eSign offers a secure and efficient way to electronically sign documents, eliminating the need for physical paperwork, and simplifying transactions.
eSignClient Resources
Discover a wealth of valuable information and resources at your fingertips. This tab is designed to provide everyone with convenient access to helpful articles and other essential resources. We hope you'll return often to learn more about the topics that impact your overall wealth.
Global Investment Committee Weekly Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Gifting Money to Children and Family Members
As you consider financial gifts to children or other family members, you may also want to think about how you'd like your gifts to be used. Let's discuss options to consider.
Your Guide to Life and Money
Explore comprehensive financial literacy resources suitable for all ages. From budgeting basics to making big life changes, we are here to guide you in learning about your everyday financial journey.
Reserved Living and Giving
Save on travel, dining, holiday gifts and more with Morgan Stanley's Reserved Living and Giving program.
Morgan Stanley Money Movement Instructions
Our step by step guide lays out the foundation and walks you through the process of transferring money from Morgan Stanley to another bank or vice versa.
2025 Tax Tables
To view the maximum benefit and contribution limits for 2025, and compare them to previous years, see the link below.
Wire Transfers
For directions regarding US Dollar denominated wires used to fund Morgan Stanley accounts please reference the link below.
Security Center
Articles, videos and more that showcase how Morgan Stanley protects our clients' data and online security, as well as resources to help you leverage our digital offerings.
Upcoming Firm Events
We hope you will join us for this upcoming event.
AI Revolution: The Breakthrough, the Buzz and a Blueprint for the Future
We invite you to watch the replay from our thought-provoking conversation on artificial intelligence (AI) with James Dyett, OpenAI's Head of Enterprise & Strategic Sales, Keith Weiss, Morgan Stanley's Head of U.S. Software Research Jeff McMillan, Morgan Stanley's Head of Firmwide Artificial Intelligence, recorded on Monday, March 24.
CRC4303146 03/2025
Online
Additional Replays
Location
55 East 52nd Street 10th
14th Floor
New York, NY 10055
US
Direct:
(212) 705-4500(212) 705-4500
Toll-Free:
(800) 827-1512(800) 827-1512
Meet The Reflective Group
Phone:
(212) 492-6392(212) 492-6392
Lean Rivas
Client Service Associate
Phone:
(212) 893-7540(212) 893-7540
William M. Ryan
Client Service Associate
Phone:
(212) 692-2362(212) 692-2362
About Steven Lederer
Steven is a senior partner in the Reflective Group and has been a Financial Advisor with Morgan Stanley and its predecessor firm since 1992. Steven has extensive experience working with high net worth clients and corporate executives developing and implementing tailored asset allocation wealth management investment strategies. He focuses on fixed income and equity related securities. He also has experience with option strategies and developing lending solutions to help meet client needs.
Steven resides in Roslyn New York with his wife and two sons. He is a graduate of Long Island University where he earned a BA degree and previously attended Boston University. Steven is an active member of the NYS Fraternal Order of Police Surgeons’ Lodge and also enjoys playing tennis, road biking, and skiing.
Disclaimer:
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
Steven resides in Roslyn New York with his wife and two sons. He is a graduate of Long Island University where he earned a BA degree and previously attended Boston University. Steven is an active member of the NYS Fraternal Order of Police Surgeons’ Lodge and also enjoys playing tennis, road biking, and skiing.
Disclaimer:
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
Securities Agent: IN, CT, VT, VA, UT, TX, NY, NJ, NH, MI, CA, OH, NM, ME, CO, PA, NC, MA, WI, WA, OR, DC, SC, MD, IL, GA, AZ, TN, MT, NV, RI, FL, DE; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1262302
NMLS#: 1262302
About David B. Tyree
David is an experienced financial advisor, portfolio manager, and member of the Reflective Group in Morgan Stanley’s Wealth Management Division. He joined MS in 2019 after four years at Merrill Lynch Wealth Management and 12 years at Bloomberg. He focused on commodities and alternative energy market data products while at Bloomberg. These combined experiences give him distinctive insights into financial markets and investing.
For David, earning a client’s trust is paramount. He does this by asking the right questions and listening carefully. This helps him understand each client’s priorities, before developing a tailored investment plan. David is known for long-term client relationships where he has served many of his clients since he first got into the investment business. They can trust his judgment and appreciate his advice on the complex challenges that wealthy individuals and families often face.
On a personal level, David grew up in a military home that valued duty, honor and country. His father attended and later taught and coached (Alpine Ski Racing) at the United States Military Academy at West Point. David inherited his father’s athleticism and competitive spirit and is an accomplished tennis and platform tennis player, golfer and skier.
Outside of work, David is an active volunteer and financial supporter of educational and social service organizations. He is a Trustee of the Harlem Junior Tennis & Education Program; a past Trustee of The International Tennis Hall of Fame; a past Alumni Board member of his alma mater, Manhattanville College, and a Class Agent for his high school, The Trinity Pawling School.
Perhaps his greatest passion is family. He is very close with his three brothers and is a doting father and loving husband to his two young sons, Ben and Thatcher, and his lovely wife, Emily. David lives in Bronxville NY.
For David, earning a client’s trust is paramount. He does this by asking the right questions and listening carefully. This helps him understand each client’s priorities, before developing a tailored investment plan. David is known for long-term client relationships where he has served many of his clients since he first got into the investment business. They can trust his judgment and appreciate his advice on the complex challenges that wealthy individuals and families often face.
On a personal level, David grew up in a military home that valued duty, honor and country. His father attended and later taught and coached (Alpine Ski Racing) at the United States Military Academy at West Point. David inherited his father’s athleticism and competitive spirit and is an accomplished tennis and platform tennis player, golfer and skier.
Outside of work, David is an active volunteer and financial supporter of educational and social service organizations. He is a Trustee of the Harlem Junior Tennis & Education Program; a past Trustee of The International Tennis Hall of Fame; a past Alumni Board member of his alma mater, Manhattanville College, and a Class Agent for his high school, The Trinity Pawling School.
Perhaps his greatest passion is family. He is very close with his three brothers and is a doting father and loving husband to his two young sons, Ben and Thatcher, and his lovely wife, Emily. David lives in Bronxville NY.
Securities Agent: TN, OR, PA, GA, FL, WI, NH, KY, UT, NV, ME, MD, VT, OH, NY, MT, DE, CO, WA, SC, NM, MA, IN, TX, RI, NC, CA, AZ, VA, NJ, MI, IL, DC, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 1508522
NMLS#: 1508522
About Lean Rivas
Lean is a Client Service Associate for The Reflective Group. With over two decades of experience, her philosophy is listening and truly understanding the client's needs while fostering a positive, helpful, and friendly environment, where they can comfortably express their concerns. As a seasoned Client Service Associate, Lean's expertise lies in providing exceptional support to clients. Whether facilitating general administration requests, or resolving complex inquiries; she is able to quickly work through comprehensive solutions by ensuring the problems are thoroughly addressed.
What drives her passion for the role is the sense of accomplishment that comes from having a customer or internal team member express their appreciation for her skillful handling of complex circumstances.
If you have any questions, please reach out to any member of our team. Lean is committed to ensuring your experience is consistently positive and seamless.
What drives her passion for the role is the sense of accomplishment that comes from having a customer or internal team member express their appreciation for her skillful handling of complex circumstances.
If you have any questions, please reach out to any member of our team. Lean is committed to ensuring your experience is consistently positive and seamless.
About William M. Ryan
William Ryan, also known as Bill, is a seasoned client service associate with over 33 years of experience working in financial services. Bill has extensive knowledge of the technology systems Morgan Stanley has to offer which he utilizes to serve clients efficiently. He builds trust with clients by having a positive disposition, consistent commitment to our client service model, and excellent communication skills. Prior to joining the Reflective Group, he spent 10 years at Merrill Lynch before joining Smith Barney a predecessor firm of Morgan Stanley.
Bill is a native of New York City who attended Fordham University. Additionally, he is Series 7 and Series 63 registered. Please reach out to Bill or any team member for questions.
Bill is a native of New York City who attended Fordham University. Additionally, he is Series 7 and Series 63 registered. Please reach out to Bill or any team member for questions.
Contact Steven Lederer
Contact David B. Tyree
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Jane Tarnovsky
Private Banker
About Jane Tarnovsky
Jane Tarnovsky is a Private Banker serving Morgan Stanley Wealth Management offices in New York.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Jane began her career in financial services in 2004, and joined Morgan Stanley in 2014 as an Interest Rate Derivatives Trade Support Director in Morgan Stanley’s ISG division. Prior to joining the firm, she was in Operations at JVB Financial and an Associate Manager at Prudential Financial.
Jane is a graduate of Rutgers University, where she received a Bachelor of Science in Finance and a Master of Business Administration in Finance. She lives in Brooklyn, New York with her family. Outside of the office, Jane is involved in her community and enjoys working out, cooking, traveling, gardening, and photography.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Jane began her career in financial services in 2004, and joined Morgan Stanley in 2014 as an Interest Rate Derivatives Trade Support Director in Morgan Stanley’s ISG division. Prior to joining the firm, she was in Operations at JVB Financial and an Associate Manager at Prudential Financial.
Jane is a graduate of Rutgers University, where she received a Bachelor of Science in Finance and a Master of Business Administration in Finance. She lives in Brooklyn, New York with her family. Outside of the office, Jane is involved in her community and enjoys working out, cooking, traveling, gardening, and photography.
NMLS#: 2226056
Wealth Management
From Our Team
A Simple Six-Step Retirement Checkup
Wealth Management
Global Investment Office
Portfolio Insights
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.
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
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
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
Ready to start a conversation? Contact The Reflective Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
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.
3Morgan 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
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.
5The 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.
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 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.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
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.
3Morgan 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
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.
5The 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.
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 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.
8Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
CRC 6491812 (04/2024)
