Jessica Bellamy, CFA®
Financial Advisor, Senior Vice President, Wealth Management
Phone:
(843) 727-7741(843) 727-7741
The RWB Group at Morgan Stanley
Direct:
(843) 727-7700(843) 727-7700
Our Story and Services
"As your Financial Advisors, we can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve. Working together we can help you to preserve and grow your wealth. You’ll have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices."
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
We believe effective wealth management benefits from deep experience, specialized skills and an integrated approach—tailored to each client’s goals and circumstances.
Our team brings experience across wealth management and broader financial markets. We built our practice around four core areas:
investment advice, financial planning, tax-aware investing considerations and balance-sheet strategy. While each area is valuable on its own, we believe integrating them can help create a more coordinated strategy.
At Morgan Stanley, we can draw on a broad platform of resources and specialists—across investments (including alternative investments for eligible investors), planning, risk management/insurance, and trust, estate and philanthropic planning support—in coordination with your tax and legal advisors. In addition, Morgan Stanley’s Global Investment Manager Analysis (GIMA) team evaluates and monitors certain investment products for use in applicable advisory programs.
We also consider both sides of the balance sheet. Where appropriate, we can evaluate cash management and lending solutions, including access to resources through Morgan Stanley Private Bank.
Our team brings experience across wealth management and broader financial markets. We built our practice around four core areas:
investment advice, financial planning, tax-aware investing considerations and balance-sheet strategy. While each area is valuable on its own, we believe integrating them can help create a more coordinated strategy.
At Morgan Stanley, we can draw on a broad platform of resources and specialists—across investments (including alternative investments for eligible investors), planning, risk management/insurance, and trust, estate and philanthropic planning support—in coordination with your tax and legal advisors. In addition, Morgan Stanley’s Global Investment Manager Analysis (GIMA) team evaluates and monitors certain investment products for use in applicable advisory programs.
We also consider both sides of the balance sheet. Where appropriate, we can evaluate cash management and lending solutions, including access to resources through Morgan Stanley Private Bank.
At Morgan Stanley, we value the comprehensive nature of our clients' relationships with us and offer Relationship-Based Pricing. This approach considers the entirety of a client's engagement with us, including advisory relationships and lending situations, rather than evaluating a loan request in isolation. Our aim is to provide a holistic experience that acknowledges our clients' overall involvement while adhering to appropriate risk standards.
Home Loans
Morgan Stanley home loans can be used to support a wide range of residential financing needs, including the purchase of a primary residence or second home, refinancing an existing mortgage, or accessing home equity for qualified purposes. In many cases, clients explore home lending as part of a broader wealth plan—aligning monthly cash-flow needs, liquidity preferences, and longer-term balance sheet goals. Home lending may also be relevant when a client is relocating, transitioning between homes, or seeking to structure financing while keeping investment assets positioned for long-term objectives.
Securities Based Lines of Credit
We offer Liquidity Access Lines (LAL) to provide borrowing capacity from eligible assets, which may help avoid the need to liquidate investments. Clients might consider using an LAL for short-term liquidity needs, major planned expenses such as taxes, capital call commitments, or large purchases, and situations where speed and flexibility are important, like making cash offers on homes in competitive markets. For executives with concentrated or restricted stock/options, an LAL can serve as a versatile tool. It may also be used for business-related needs, such as providing working capital or managing cash-flow variability, subject to eligibility and underwriting.
A Bespoke Approach
Tailored Lending is designed to address complex borrowing needs where a standard structure may not be suitable. This approach can involve customized terms, structures, and collateral solutions that consider a client's overall financial situation, potentially including multiple asset types, unique liquidity events, concentrated positions, or sophisticated cash-flow planning. Tailored solutions might be used to fund capital facilities, provide access to capital markets, finance significant purchases, support strategic investments, or facilitate estate or tax planning strategies. These solutions are often utilized in ultra-high-net-worth or institutional client scenarios where the scale and complexity of assets require customized structuring.
Honoring Your Family's Commitment To Us
At Morgan Stanley, we value the comprehensive nature of our clients' relationships and offer Relationship-Based Pricing. This approach considers the entirety of a client's engagement with us, including advisory relationships and lending situations, rather than evaluating a loan request in isolation. Our aim is to provide a holistic experience that acknowledges our clients' overall involvement while adhering to appropriate risk standards.
Executives and senior leaders often face complex financial decisions that benefit from strategic planning—such as managing tax considerations, liquidity needs, concentrated equity/compensation positions and legacy planning. We help by developing a coordinated strategy and implementing solutions across your portfolio and balance sheet, including tax-aware investing considerations, cash management and lending solutions (as appropriate), insurance/risk management reviews with specialists, and trust & estate and philanthropic planning support—in close coordination with your tax and legal advisors.
Cash Management Services
In addition to your Financial Advisors, our Client Service Team is here to help with day-to-day servicing needs—including time-sensitive money movement. For clients who invest in private fund structures, that can include coordinating timely funding needs, such as capital calls. We can help you use tools like Morgan Stanley Online and Mobile, along with available cash management services (e.g., ACH and wires), so you have convenient access to your accounts and the ability to move money—supported by a dedicated team member.
Lending Needs
The RWB Group works with clients whose net worth may be concentrated in less liquid assets—such as low cost-basis stock, alternative investments, closely held business interests, or collectible assets. When liquidity needs arise (for example, tax payments, insurance planning needs, or major purchases), we can evaluate cash-flow and liquidity strategies, which may include lending solutions and, where appropriate, Morgan Stanley Private Bank resources. Borrowing against eligible collateral can help to provide liquidity and flexibility be appropriate for everyone.
Trust and Estate Resources
Preserving multi-generational wealth often starts with a thoughtful trust and estate plan. While we don't provide legal or tax advice, we can help you get organized, identify key planning considerations, and coordinate with your attorney and tax advisor so your time with them is as productive as possible. We can also review your overall balance sheet—including equity compensation/stock plan holdings and other concentrated positions—to help inform wealth transfer and gifting conversations with your advisors, consistent with your goals.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
850 Morrison Drive
Ste 800
Charleston, SC 29403
US
Direct:
(843) 727-7700(843) 727-7700
Meet The RWB Group
Will Rogers
Financial Advisor, First Vice President, Wealth Management
Phone:
(843) 727-7794(843) 727-7794
Phone:
(843) 727-7793(843) 727-7793
About Jessica Bellamy
Jessica Bellamy is a Financial Advisor with Morgan Stanley, joining the firm first in 1997 with Institutional Sales and Trading Fixed Income in New York City, where she worked on new issue syndicate for Mortgage Backed, Asset Backed and other Real Estate Debt Capital Markets. In 2004 she moved to the Derivatives Product Group at BNP Paribas working with SPV and Corporate Bond issuers to hedge inherent asset risk from loan portfolios. She rejoined Morgan Stanley as a Financial Advisor after a trip around the world between 2009-2010 and a move to Charleston.
Jessica graduated from the University of Virginia with a concentration in Government (Constitutional Law), Economics and Anthropology. She earned a Chartered Financial Analyst® (CFA®) designation and is a member of the CFA® Society of South Carolina. Aside from extensive travel, Jessica is an avid outdoors person, loves gardening, historic home renovation, and has recently learned to play the guitar during Covid. She spends time between her homes in Charleston, SC and Brooklyn, NY and a remote cabin in upstate NY.
Jessica graduated from the University of Virginia with a concentration in Government (Constitutional Law), Economics and Anthropology. She earned a Chartered Financial Analyst® (CFA®) designation and is a member of the CFA® Society of South Carolina. Aside from extensive travel, Jessica is an avid outdoors person, loves gardening, historic home renovation, and has recently learned to play the guitar during Covid. She spends time between her homes in Charleston, SC and Brooklyn, NY and a remote cabin in upstate NY.
Securities Agent: TN, NH, MD, AZ, AR, ME, CA, KY, GA, NJ, DC, SC, OR, KS, VT, PR, PA, MN, IN, IL, DE, CO, FL, WA, VA, NM, NC, UT, OH, NY, MS, MA, CT, AL, WY, WI, MO, MI, WV, TX; General Securities Representative; Investment Advisor Representative
NMLS#: 1430997
NMLS#: 1430997
About Will Rogers
Will Rogers is a Financial Advisor with Morgan Stanley responsible for covering ultra-high net
worth families with an emphasis in serving the unique needs of investment managers, finance
professionals, and institutional clients. A native of West Columbia, South Carolina, Will
attended Clemson University where he double majored in Speech & Communications, and
Psychology. A member of the Clemson Swimming Team, he earned 1st Team, All-ACC honors;
and competed in the 2000 US Olympic Trials. Upon graduation in 2001 he became a U.S. Navy
SEAL, receiving a Bronze Star among other awards during three overseas deployments.
Following his Naval service, Will attended Columbia Business School in New York where he
earned his MBA in 2010. Will subsequently headed sales for the Financing Desk within the
Global Credit Products Division of Credit Suisse where he covered private equity and hedge fund
clients before ultimately joining Morgan Stanley Wealth Management in 2016.
Outside of his professional responsibilities, Will is passionate about travelling around the United
States with his wife, Karen, and their two children, Sabo (12) and Scout (10). As active
‘Recreation Vehicle Enthusiasts’, they have visited 43 National Parks across 40+ states since 2020.
worth families with an emphasis in serving the unique needs of investment managers, finance
professionals, and institutional clients. A native of West Columbia, South Carolina, Will
attended Clemson University where he double majored in Speech & Communications, and
Psychology. A member of the Clemson Swimming Team, he earned 1st Team, All-ACC honors;
and competed in the 2000 US Olympic Trials. Upon graduation in 2001 he became a U.S. Navy
SEAL, receiving a Bronze Star among other awards during three overseas deployments.
Following his Naval service, Will attended Columbia Business School in New York where he
earned his MBA in 2010. Will subsequently headed sales for the Financing Desk within the
Global Credit Products Division of Credit Suisse where he covered private equity and hedge fund
clients before ultimately joining Morgan Stanley Wealth Management in 2016.
Outside of his professional responsibilities, Will is passionate about travelling around the United
States with his wife, Karen, and their two children, Sabo (12) and Scout (10). As active
‘Recreation Vehicle Enthusiasts’, they have visited 43 National Parks across 40+ states since 2020.
Securities Agent: VT, WV, OH, SD, MD, TN, MS, IN, ID, AZ, SC, NH, MA, IL, GA, FL, DC, WY, UT, TX, KY, PA, MI, NV, AL, WA, PR, NM, MN, KS, CT, VA, OR, NJ, MT, CO, AR, NY, ME, WI, NC, MO, DE, CA; General Securities Representative; Investment Advisor Representative
NMLS#: 1605677
NMLS#: 1605677
About Taylor Wootton
Taylor Wootton is a Financial Advisor with Morgan Stanley in Charleston, South Carolina, joining the firm in 2017. His entire career has been within the wealth management industry, advising endowments, corporations, retirement plans and individuals on all aspects of their balance sheet – investments, credit lines, cash management and trust & estate planning strategies. Taylor is dedicated to the priorities of the clients he covers and provides personalized wealth management strategies to help achieve their financial objectives.
Prior to Morgan Stanley, he spent six years with the J.P. Morgan Private Bank in New York City, working with many of the most prominent families in the region. He brings an institutional approach to the investment management process and a high level of service to all of his clients. Taylor earned the Chartered Financial Analyst® (CFA®) designation and is a member of the CFA® Society of South Carolina. He graduated with a BS in Commerce from the McIntire School of Commerce at the University of Virginia, where he concentrated in both finance and accounting.
When he is not in the office or with clients, Taylor loves being active outside. Some of his favorite activities are surfing, swimming, fishing, tennis, golf, and trying new restaurants with his wife, Christie. They live in Mt. Pleasant with their two daughters, Claire and Lily, and son, Quinn.
Prior to Morgan Stanley, he spent six years with the J.P. Morgan Private Bank in New York City, working with many of the most prominent families in the region. He brings an institutional approach to the investment management process and a high level of service to all of his clients. Taylor earned the Chartered Financial Analyst® (CFA®) designation and is a member of the CFA® Society of South Carolina. He graduated with a BS in Commerce from the McIntire School of Commerce at the University of Virginia, where he concentrated in both finance and accounting.
When he is not in the office or with clients, Taylor loves being active outside. Some of his favorite activities are surfing, swimming, fishing, tennis, golf, and trying new restaurants with his wife, Christie. They live in Mt. Pleasant with their two daughters, Claire and Lily, and son, Quinn.
Securities Agent: OH, MO, MD, FL, CA, NY, NV, NJ, KS, AL, WI, VT, TN, PA, NC, KY, IL, DE, AR, WA, NM, MS, WY, MN, MI, WV, SC, PR, ME, IN, GA, AZ, VA, OR, MA, DC, CT, CO, TX, UT, NH; General Securities Representative; Investment Advisor Representative
NMLS#: 1696798
NMLS#: 1696798
Contact Jessica Bellamy
Contact Will Rogers
Contact Taylor Wootton
Wealth Management
Global Investment Office
Portfolio Insights
Ready to start a conversation? Contact The RWB Group today.
1Alternative 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
4Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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.
5Morgan 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.
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 Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
4Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
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.
5Morgan 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.
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.
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Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
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CRC 4665150 (8/2025), 5378280 (5/2026)
