Phone:
(337) 479-7634(337) 479-7634
The Sam Houston Jones Group at Morgan Stanley
Direct:
(337) 479-7634(337) 479-7634
Our Mission Statement
A team built on legacy, working to help you build your own legacy.
Our Story and Services
Through tailored financial and investment advice, our goal is to help clients work toward their life goals. Whether you’re in the early stages of building wealth, or facing complex retirement choices later in life, we’re ready and equipped to help you make decisions for your future.
The Sam Houston Jones Group is excited to start a new chapter in 2025 at Morgan Stanley, where we will continue the legacy of helping our clients through all stages of their lives.
Our story began in 1962 when our group founder Mr. Robert G. "Bob" Jones started his career as a Financial Advisor in Lake Charles, Louisiana. For nearly 60 years, Mr. Jones's illustrious career saw not only the bulls and the bears of the market, but multiple generations of clients who looked to him as a family confidant. Because of this, our clients have come to know and expect sound advice with a personal touch, and we will strive to continue that legacy for generations to come.
The Sam Houston Jones Group is excited to start a new chapter in 2025 at Morgan Stanley, where we will continue the legacy of helping our clients through all stages of their lives.
Our story began in 1962 when our group founder Mr. Robert G. "Bob" Jones started his career as a Financial Advisor in Lake Charles, Louisiana. For nearly 60 years, Mr. Jones's illustrious career saw not only the bulls and the bears of the market, but multiple generations of clients who looked to him as a family confidant. Because of this, our clients have come to know and expect sound advice with a personal touch, and we will strive to continue that legacy for generations to come.
Services Include
- Financial PlanningFootnote1
- Retirement PlanningFootnote2
- Wealth ManagementFootnote3
- AnnuitiesFootnote4
- Business PlanningFootnote5
- Alternative InvestmentsFootnote6
- Asset Management
- Business Succession PlanningFootnote7
- Cash ManagementFootnote8
- Certificates of DepositFootnote9
- Corporate BondsFootnote10
- Divorce Financial AnalysisFootnote11
- Endowments and FoundationsFootnote12
- Estate Planning StrategiesFootnote13
- Philanthropic ManagementFootnote14
- Planning for Education FundingFootnote15
- Planning for Individuals with Special Needs
- Professional Portfolio ManagementFootnote16
- Qualified Retirement PlansFootnote17
- Sustainable InvestingFootnote18
- SyndicateFootnote19
- UGMA/UTMAFootnote20
- Wealth PlanningFootnote21
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Location
1450 William St
The Lawton Building, 3rd Floor
Lake Charles, LA 70601
US
Direct:
(337) 479-7634(337) 479-7634
Meet The Sam Houston Jones Group
Phone:
(337) 479-7635(337) 479-7635
Phone:
(337) 479-7636(337) 479-7636
Sandra Dally
Senior Registered Client Service Associate
Phone:
(337) 479-7637(337) 479-7637
About Me
Houston returned to Lake Charles in 1998 after 10 years of living and working in France to work with his father primarily on advisory, retirement and estate planning issues. He completed his CERTIFIED FINANCIAL PLANNER™ certification in 2002. The CFP® program covers the wide array of financial concerns an individual may experience during his or her lifetime --- from taxes to insurance to investments to retirement to estate planning.
His educational background includes a B.S. from L.S.U. in 1984 and an MBA from Tulane University in 1989. He also has a French language and culture diploma from the Catholic Institute in Paris in 1986. During college he was a Student Government Association representative and active in the Kappa Sigma Fraternity. He continues to be active in Kappa Sig today on several fronts and remains fanatical about LSU football. Between college and grad school Houston worked in Information Technology for 2 years on Wall Street, and during his years in France he worked in international logistics for 2½ years and as a restaurant franchise entrepreneur and consultant for 6 years.
Houston is a former Ironman Triathlete and has swum from Alcatraz to San Francisco. He has raised money for MS by riding his bicycle from Houston to Austin on 4 occasions. And while he continues to be an accomplished cyclist, walker and hiker, his focus has shifted to becoming a voracious reader, avid traveler, and passionate foodie.
The oldest of 4, he is married to the former Caroline Adams of Houston, a respected trial attorney, and has 3 stepdaughters, 4 children of his own and 4 grandchildren.
His educational background includes a B.S. from L.S.U. in 1984 and an MBA from Tulane University in 1989. He also has a French language and culture diploma from the Catholic Institute in Paris in 1986. During college he was a Student Government Association representative and active in the Kappa Sigma Fraternity. He continues to be active in Kappa Sig today on several fronts and remains fanatical about LSU football. Between college and grad school Houston worked in Information Technology for 2 years on Wall Street, and during his years in France he worked in international logistics for 2½ years and as a restaurant franchise entrepreneur and consultant for 6 years.
Houston is a former Ironman Triathlete and has swum from Alcatraz to San Francisco. He has raised money for MS by riding his bicycle from Houston to Austin on 4 occasions. And while he continues to be an accomplished cyclist, walker and hiker, his focus has shifted to becoming a voracious reader, avid traveler, and passionate foodie.
The oldest of 4, he is married to the former Caroline Adams of Houston, a respected trial attorney, and has 3 stepdaughters, 4 children of his own and 4 grandchildren.
Securities Agent: MA, WA, TX, OH, MN, MD, NM, NH, NC, LA, IL, FL, TN, NJ, GA, MS, CA, AR, AL, UT, OK, CO, VA, NY, CT, VI, OR, MI, ME, KS, ID, SC; General Securities Representative; Investment Advisor Representative
About Me
Griffon moved to Lake Charles and started his career in the finance industry in 2019 as a Financial Relationship Advisor with Wells Fargo Advisors. After Hurricane Laura, he moved to Baton Rouge and worked with the Deferred Compensation Plan for state employees and an independent advisory firm. In 2022, he moved back to Lake Charles to join the Sam Houston Wealth Management Group of Wells Fargo Advisors. Griffon is looking forward to continuing his career at Morgan Stanley, where he brings the experience of his past roles and a different outlook on investing.
He grew up in DeRidder, LA and attended DeRidder High School where he was involved in sports and various service and academic clubs. He then received his B.S. from LSU in 2013. During his time at LSU, he was a member of Pi Kappa Phi fraternity and remains an LSU athletics fan.
Griffon enjoys the outdoors and can be often found waterfowl hunting and inshore fishing when time permits. He also follows LSU athletics and has been in attendance for SEC Championships and National Championships in both baseball and football.
The oldest of 3, he is married to Hillary, originally from Baton Rouge.
He grew up in DeRidder, LA and attended DeRidder High School where he was involved in sports and various service and academic clubs. He then received his B.S. from LSU in 2013. During his time at LSU, he was a member of Pi Kappa Phi fraternity and remains an LSU athletics fan.
Griffon enjoys the outdoors and can be often found waterfowl hunting and inshore fishing when time permits. He also follows LSU athletics and has been in attendance for SEC Championships and National Championships in both baseball and football.
The oldest of 3, he is married to Hillary, originally from Baton Rouge.
Securities Agent: AL, AR, CA, CO, FL, GA, IL, KS, LA, ME, MD, MA, MI, MS, NH, NJ, NM, NY, NC, OH, OR, SC, TN, TX, UT, VA, WA, CT, ID, MN, OK; General Securities Representative; Investment Advisor Representative
About Me
A 40-year veteran of the securities industry, Bill began his career with Thomson McKinnon in Lafayette and moved to Lake Charles in 1990. He has continued to work in the same office as it became Prudential Securities, then Wachovia Securities in 2003 and subsequently Wells Fargo Advisors in 2009, and then to Morgan Stanley in 2025.
Bill studied Business and English Literature at Boston University where he co-chaired the university’s coffee house and concert series. After he completed his undergraduate education, he worked at Boston City Hall where he produced dance, drama, and musical events for neighborhoods throughout the city. As a 16-year-old he appeared on “To Tell The Truth”, where he appeared with Kern and Rinker Buck, the youngest aviators to fly cross country in the U.S. He has a passion for music and has been active in the Banner’s Cultural Series. He has not missed attending Jazz Fest in New Orleans since 1990.
He has been married for over 40 years to Lake Charles native, Susan Strauss Battestin, whom he met in Boston. They have three daughters and three granddaughters.
Bill studied Business and English Literature at Boston University where he co-chaired the university’s coffee house and concert series. After he completed his undergraduate education, he worked at Boston City Hall where he produced dance, drama, and musical events for neighborhoods throughout the city. As a 16-year-old he appeared on “To Tell The Truth”, where he appeared with Kern and Rinker Buck, the youngest aviators to fly cross country in the U.S. He has a passion for music and has been active in the Banner’s Cultural Series. He has not missed attending Jazz Fest in New Orleans since 1990.
He has been married for over 40 years to Lake Charles native, Susan Strauss Battestin, whom he met in Boston. They have three daughters and three granddaughters.
Securities Agent: GA, OH, NJ, MA, AL, VA, NY, MI, ID, CA, OR, NH, NC, MN, LA, IL, UT, OK, NV, MD, FL, WA, MS, ME, KS, CT, NM, NE, TX, TN, SC, CO, AR; BM/Supervisor; General Securities Representative; Investment Advisor Representative
About Sandra Dally
Sandra is a native of Lake Charles, and a graduate of LaGrange High School. While working for a local telecommunications company for 20+ years, she took advantage of the company’s tuition reimbursement program and attended night school at McNeese State University for seven years to achieve her Bachelor of Science degree in Business Management. Sandra is also a registered Notary Public, has obtained her insurance license, and earned her FINRA Series 7, 66, 9, and 10 securities registrations.
Sandra began her career with Wells Fargo Advisors in 2004, and brought with her extensive client service skills. She is a champion at understanding client needs and knows exactly what tasks to perform to get the job done. She looks forward to continue her career with the team at Morgan Stanley.
Sandra loves the summer sun, and outdoors life. She enjoys cycling, gardening, cooking, sewing, and spending lots of time with family. Sunday Dinner is the weekly event in her household. The youngest of 4 siblings, Sandra has two sons, one of whom is a firefighter, and the other is an airplane mechanic. She has eight grandchildren and two grand dogs.
Sandra began her career with Wells Fargo Advisors in 2004, and brought with her extensive client service skills. She is a champion at understanding client needs and knows exactly what tasks to perform to get the job done. She looks forward to continue her career with the team at Morgan Stanley.
Sandra loves the summer sun, and outdoors life. She enjoys cycling, gardening, cooking, sewing, and spending lots of time with family. Sunday Dinner is the weekly event in her household. The youngest of 4 siblings, Sandra has two sons, one of whom is a firefighter, and the other is an airplane mechanic. She has eight grandchildren and two grand dogs.
Contact Sam Houston Jones II
Contact Griffon S. Lestage
Contact William G. Battestin
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- 401(k) Rollovers
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529 Plans: A Powerful Tool to Save for Education
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Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
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Ready to start a conversation? Contact The Sam Houston Jones Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Morgan 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.
6Alternative 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.
7Morgan 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.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
10Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
11Morgan 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.
12Morgan 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.
13Morgan 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.
14Products 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.
15When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
16Morgan 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.
17When 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.
18The 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.
19Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
20Morgan 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.
21Morgan 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.
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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.
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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
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
5Morgan 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.
6Alternative 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.
7Morgan 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.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
10Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
11Morgan 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.
12Morgan 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.
13Morgan 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.
14Products 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.
15When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
16Morgan 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.
17When 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.
18The 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.
19Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
20Morgan 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.
21Morgan 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.
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Awards Disclosures
CRC 6491812 (04/2024)