Randy J. Peterson, CFA
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(415) 793-4901(415) 793-4901
Industry Award WinnerOur Mission Statement
Every client is entitled to the highest level of personalized service and care. With the global resources of Morgan Stanley, we’ll place you at the center of the process as we work together to design a financial approach to help you reach your goals
WELCOME
Operating within the elite Private Wealth Management division at Morgan Stanley, we leverage our deep knowledge and experience to craft highly customized investment and financial planning strategies for a select clientele of entrepreneurs, executives, professional investors, their families, businesses, and philanthropic enterprises. Our team is based in San Francisco and currently manages approximately $3 billion.
We act in a fiduciary capacity, pride ourselves in exceptional client service, and always put our clients first. We take a holistic and planning-based approach grounded in investment strategy and balance sheet optimization. We run globally diversified, multi-asset class portfolios, with expertise in tactical asset allocation, equity and fixed income security selection, and due diligence on external managers. We invest broadly in stocks, bonds, real estate, and alternative investments. Our specialties include a common-sense and independent approach, individual security selection, concentrated position management, private-to-public transitions, tax-optimization, and ESG/SRI/Impact investing mandates.
We provide independent, holistic advice to clients and strive to build long-term, multi-generational relationships. We provide family office services, including customized asset management, lending, private banking, philanthropic advising, and unbiased financial and tax planning, integrated alongside clients' other key advisors such as attorneys, accountants, and family offices.
Ultimately, we strive to be a steady resource and strategic partner, keeping our clients on track to reach their varied goals, from building a baseline all the way to financial independence and creating a sustained legacy through philanthropy and multi-generational impact.
We act in a fiduciary capacity, pride ourselves in exceptional client service, and always put our clients first. We take a holistic and planning-based approach grounded in investment strategy and balance sheet optimization. We run globally diversified, multi-asset class portfolios, with expertise in tactical asset allocation, equity and fixed income security selection, and due diligence on external managers. We invest broadly in stocks, bonds, real estate, and alternative investments. Our specialties include a common-sense and independent approach, individual security selection, concentrated position management, private-to-public transitions, tax-optimization, and ESG/SRI/Impact investing mandates.
We provide independent, holistic advice to clients and strive to build long-term, multi-generational relationships. We provide family office services, including customized asset management, lending, private banking, philanthropic advising, and unbiased financial and tax planning, integrated alongside clients' other key advisors such as attorneys, accountants, and family offices.
Ultimately, we strive to be a steady resource and strategic partner, keeping our clients on track to reach their varied goals, from building a baseline all the way to financial independence and creating a sustained legacy through philanthropy and multi-generational impact.
Capabilities
- Comprehensive Wealth Planning
- Investment Management
- Tax, Trust & Estate AdvisoryFootnote1
- Cash Management & LendingFootnote2
- Securities Based LendingFootnote3
- Investment Strategies for Family Offices
- 10b5-(1) Programs
- Corporate Stock Plans
- Philanthropy Management
- Sustainable & Responsible InvestingFootnote4
- Manager Selection
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
About PWM
Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
- Manage investments with an unwavering focus on your financial strategy and personal goals
- Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
- Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
- Approximately 350 teams1 specialized in assisting individuals and families with $20MM+ in investable assets
- Over $980 billion in AUM1
- Comprising 23% of the Barron’s Top 250 Private Wealth Management Teams for 2024
- Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, December, 2024
Source: Barron's.com (May 2024) 2024 Barron's Top 250 Private Wealth Management Teams awarded in 2024. The teams are ranked on a variety of factors, including their size and shape, their regulatory records and credentials of their members, and the resources they have at their disposal to serve their client bases. The rankings are meant as a starting point for clients looking for an advisor—a first-pass vetting that can help investors narrow a search. Every advisor will have his or her own approach to investing, financial planning, and other services. Clients are encouraged to approach a search for an advisor the way they would a search for a doctor—interviewing multiple professionals and getting opinions from multiple third parties. Rankings are based on the opinions of Barron's and this ranking may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
Our Process
Step 1) Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.
Step 2) Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.
Step 3) Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.
Step 4) Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.
Step 5) Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.
Step 6) Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.
Randy Peterson
• 2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com • 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023 Barron's Top 1,200 Financial Advisors: State-by-State • 2023 Barron's Top 100 Private Wealth Management Teams. • 2023 Forbes Best-In-State Wealth Management Teams.
2019-2025 Forbes Best-In- State Wealth Advisors
Source: Forbes (Awarded April 2025). Data compiled by SHOOK Research LLC based for the period 6/30/23–6/30/24. https://www.morganstanley.com/what-we-do/wealth-management/forbes-top-wealth-advisors-lists-2025
2016-2023 Top 1,200 Financial Advisors: State-by-State(formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State) Source: Barrons.com (Awarded 2016-2023). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
2023 Barron's Top 100 Private Wealth Management Teams(formerly referred to as Barron's Top 50 Private Wealth Management Teams, Barron's Top 50 Private Wealth Advisory Teams)
Source: Barrons.com (Awarded April 2023). Data compiled by Barron's based on 12-month period concluding in Dec of the year prior to the issuance of the award.
2023 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2023). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Sean Bricmont
• 2019, 2020, 2021, 2022, 2023, 2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com • 2019, 2020, 2021, 2022, 2023 Barron's Top 1,200 Financial Advisors: State-by-State • 2019 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State.
2019-2025 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2019-2023 Top 1,200 Financial Advisors: State-by-State(formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State) Source: Barrons.com (Awarded 2019-2023). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
2019 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors) Source: Forbes.com (Awarded 2019). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Stephen Marotto
• 2019, 2020, 2021, 2022, 2023, 2025 Forbes Best-In- State Wealth Advisors Source: Forbes.com • 2017, 2018, 2019, 2020, 2021, 2022 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State • 2023 Barron's Top 100 Private Wealth Management Teams. • 2023 Forbes Best-In-State Wealth Management Teams.
2019-2025 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2023 Barron's Top 100 Private Wealth Management Teams (formerly referred to as Barron's Top 50 Private Wealth Management Teams, Barron's Top 50 Private Wealth Advisory Teams)
Source: Barrons.com (Awarded April 2023). Data compiled by Barron's based on 12-month period concluding in Dec of the year prior to the issuance of the award.
2017 - 2022 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2017-2022). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
2023 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2023). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
David Dudek
• 2023, 2025 Forbes Best-In-State Wealth Advisors Source: Forbes.com • 2021, 2022, 2024 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State • 2023 Barron's Top 100 Private Wealth Management Teams. • 2023 Forbes Best-In-State Wealth Management Teams.
2023, 2025 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2023, 2025). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2023 Barron's Top 100 Private Wealth Management Teams(formerly referred to as Barron's Top 50 Private Wealth Management Teams, Barron's Top 50 Private Wealth Advisory Teams)
Source: Barrons.com (Awarded April 2023). Data compiled by Barron's based on 12-month period concluding in Dec of the year prior to the issuance of the award.
2021, 2022, 2024 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors) Source: Forbes.com (Awarded 2021 -2022). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
2023 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2023 ). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
The SF Summit Group strives to simplify complex financial ideas into a digestible format so that our clients can truly understand the work that goes into planning for their financial future and livelihood. We are a firm believers in providing our clients with as many resources as possible so that they may stay informed on the latest market trends, analyses, and outlooks. The resources below provide in-depth analysis on current market events and finance topics that are affecting the business world today.
Global Investment Committee on the Markets Monthly Report
A monthly publication that summarizes the Global Investment Committee's market outlook and contains thought-provoking essays that examine the forces shaping the investment landscape
On the Markets
Global Investment Committee Weekly Research Report
The Global Investment Committee's Weekly Report provides an in depth look at markets, asset class performance and fixed income on a weekly basis.
The GIC Weekly
Thoughts on the Market Podcast
With perspectives on the forces shaping the market, join Morgan Stanley's Chief Investment Officer and Chief US Equity Strategist as he and his colleagues discuss their viewpoints regarding the latest trends in the financial marketplace.
Latest Episode
Frontier Technology
Technological innovations that could disrupt and transform industries are rapidly emerging. Discover the breakthroughs, both underway and just on the horizon, and the monumental changes that may result for investors, businesses and economies.
Frontier Technology
2025 Outlooks
As inflation around the world continues to normalize, investors will contend with the new shape of policies in the U.S., which may impact growth but could bring favor to riskier assets in 2025.
2025 Outlooks
3 Risks in an Unfamiliar Market
Investors are navigating strange terrain with a surprisingly resilient economy, a top-heavy stock market and a deeply indebted government. Here’s how to stay on course.
3 Risks in an Unfamiliar MarketLocation
555 California St, 14th Fl
San Francisco, CA 94104
US
Direct:
(415) 576-2639(415) 576-2639
Meet The SF Summit Group
Sean F. Bricmont, CFA
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(415) 988-4013(415) 988-4013
Stephen R. Marotto, CFA
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(415) 859-6897(415) 859-6897
David Dudek, CFA
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(415) 971-8245(415) 971-8245
Elizabeth Garcia
Vice President, Private Wealth Advisor
Phone:
(415) 576-2619(415) 576-2619
Kendal Schall, CFP®
Financial Planning Analyst
Phone:
(415) 576-2659(415) 576-2659
Jackie Andrews
Group Director
Phone:
(415) 576-2655(415) 576-2655
Alexander Chan, CFA
PWM Director of Investments
Phone:
(415) 576-2654(415) 576-2654
Colin Murphy
PWM Analyst
Phone:
(415) 576-2664(415) 576-2664
Maxwell A. Morais
Registered Client Service Associate
Phone:
(415) 546-2676(415) 546-2676
Luc Marshall
Registered Client Service Associate
Phone:
(415) 576-2667(415) 576-2667
About Me
Randy J. Peterson is a Managing Director and Private Wealth Advisor with Morgan Stanley based in San Francisco, CA.
Randy has 32 years of investment management experience. Prior to joining Morgan Stanley, Mr. Peterson was a Senior Managing Director and Wealth Manager for First Republic Investment Management since 2006. He manages relationships for ultra-high net worth families. Mr. Peterson focuses on a broad array of customized family office services, including asset management and financial planning. He specializes in tactical asset allocation, equity and fixed income security selection, and due diligence on external managers, and invests broadly in stocks, bonds, real estate, and alternative investments. His continued work has led him to recognition on Barron’s Top Advisor Rankings*. His team currently manages approximately $3 billion in multi-asset class portfolios for wealthy families. Prior to First Republic, he was with U.S. Trust Company from 1998 to 2006, where he served as a Senior Portfolio Manager. Mr. Peterson began his career as an investment officer in the Investment Management Group at Wells Fargo.
Randy received his B.S. from the University of Colorado, Boulder, and MBA from the University of Oregon. He serves on the board of the San Francisco Maritime National Park Association. In his free time, Randy enjoys skiing, mountain biking, and boating and spends time in Telluride, CO and Tahoe City, CA. Randy lives in San Francisco with his wife, Jennifer, two daughters, and two golden retrievers.
*Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com. Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
Randy has 32 years of investment management experience. Prior to joining Morgan Stanley, Mr. Peterson was a Senior Managing Director and Wealth Manager for First Republic Investment Management since 2006. He manages relationships for ultra-high net worth families. Mr. Peterson focuses on a broad array of customized family office services, including asset management and financial planning. He specializes in tactical asset allocation, equity and fixed income security selection, and due diligence on external managers, and invests broadly in stocks, bonds, real estate, and alternative investments. His continued work has led him to recognition on Barron’s Top Advisor Rankings*. His team currently manages approximately $3 billion in multi-asset class portfolios for wealthy families. Prior to First Republic, he was with U.S. Trust Company from 1998 to 2006, where he served as a Senior Portfolio Manager. Mr. Peterson began his career as an investment officer in the Investment Management Group at Wells Fargo.
Randy received his B.S. from the University of Colorado, Boulder, and MBA from the University of Oregon. He serves on the board of the San Francisco Maritime National Park Association. In his free time, Randy enjoys skiing, mountain biking, and boating and spends time in Telluride, CO and Tahoe City, CA. Randy lives in San Francisco with his wife, Jennifer, two daughters, and two golden retrievers.
*Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com. Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
Securities Agent: MT, MN, NJ, WA, PA, PR, SC, UT, IN, NV, GA, WI, AR, ND, OK, AZ, VT, DC, CT, RI, DE, NM, HI, KY, VA, ME, OR, IL, FL, TX, CA, MD, MA, WY, NH, TN, NC, MI, IA, AL, KS, VI, LA, OH, WV, MS, NY, SD, MO, ID, AK, NE, CO; General Securities Representative; Investment Advisor Representative
NMLS#: 2511635
NMLS#: 2511635
About Me
Sean F. Bricmont is a Managing Director and Private Wealth Advisor with Morgan Stanley based in San Francisco, CA.
Prior to joining Morgan Stanley, Mr. Bricmont was a Senior Managing Director and Wealth Manager at First Republic Investment Management, where he focused on larger and more complex client situations. Before joining First Republic in 2006, Mr. Bricmont was a Portfolio Manager at Nelson Capital Management, working primarily with individual high net worth investors and specializing in U.S. large cap growth equity as well as socially responsible investing.
Prior to joining Morgan Stanley, Mr. Bricmont was a Senior Managing Director and Wealth Manager at First Republic Investment Management, where he focused on larger and more complex client situations. Before joining First Republic in 2006, Mr. Bricmont was a Portfolio Manager at Nelson Capital Management, working primarily with individual high net worth investors and specializing in U.S. large cap growth equity as well as socially responsible investing.
Securities Agent: PA, IN, KY, IA, MO, NJ, SD, SC, AL, ME, ID, VA, IL, TX, NY, NC, DC, TN, RI, PR, WV, WY, MT, WA, CT, MD, AK, MA, HI, OH, ND, AZ, LA, KS, MN, NE, MI, AR, VI, MS, NH, WI, OK, OR, VT, NV, CA, DE, CO, GA, FL, NM, UT; General Securities Representative; Investment Advisor Representative
NMLS#: 2510847
NMLS#: 2510847
About Me
Stephen R. Marotto is a Managing Director and Private Wealth Advisor with Morgan Stanley based in San Francisco, CA.
Prior to joining Morgan Stanley, Mr. Marotto was a Managing Director and Wealth Manager at First Republic Investment Management. In his current role, he serves a diverse group of clients in developing customized investment strategies and comprehensive financial plans. Mr. Marotto joined First Republic in 2008 and served as a Portfolio Strategist and Research Analyst in both equity and fixed income markets. Prior to joining First Republic, he worked in the Assurance & Business Advisory Practice at PricewaterhouseCoopers LLP in San Francisco.
Mr. Marotto has been recognized by Forbes as a Top Next-Gen Wealth Advisor (2017-2022)*, a Best-In-State Wealth Advisor (2019-2022)*, and an America’s Next Gen Advisors (2022)*.
*2017-2022 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2017-2022). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
*2019-2022 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2022). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Prior to joining Morgan Stanley, Mr. Marotto was a Managing Director and Wealth Manager at First Republic Investment Management. In his current role, he serves a diverse group of clients in developing customized investment strategies and comprehensive financial plans. Mr. Marotto joined First Republic in 2008 and served as a Portfolio Strategist and Research Analyst in both equity and fixed income markets. Prior to joining First Republic, he worked in the Assurance & Business Advisory Practice at PricewaterhouseCoopers LLP in San Francisco.
Mr. Marotto has been recognized by Forbes as a Top Next-Gen Wealth Advisor (2017-2022)*, a Best-In-State Wealth Advisor (2019-2022)*, and an America’s Next Gen Advisors (2022)*.
*2017-2022 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2017-2022). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
*2019-2022 Forbes Best-In- State Wealth Advisors
Source: Forbes.com (Awarded 2019-2022). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Securities Agent: GA, DC, WA, VT, VI, PR, IN, IL, SC, NE, ND, LA, FL, DE, CT, AZ, WV, OR, NJ, MT, MI, ME, MD, MA, KS, ID, CO, OK, NV, NM, AK, PA, CA, WY, WI, VA, UT, TN, OH, NC, MS, KY, HI, RI, NH, TX, SD, AL, NY, MO, MN, IA; General Securities Representative; Investment Advisor Representative
NMLS#: 2500276
NMLS#: 2500276
About Me
David Dudek is a Managing Director and Private Wealth Advisor with Morgan Stanley Private Wealth Management based in San Francisco, CA.
David has 14 years of investment management experience. Currently he develops customized investment strategies and financial plans for families and institutions, specializing in portfolio construction and individual security selection. He manages global, multi-asset portfolios, investing broadly across stocks, bonds, real estate, and alternative investments, and has been recognized by Forbes as an America’s Top Next-Gen Advisor.
Prior to Morgan Stanley, David worked at First Republic Investment Management (2014-2023) initially as a Research Analyst covering the Healthcare, Technology, and Consumer sectors, and as an Equity Portfolio Strategist assisting in the construction and implementation of the firm’s equity strategies. Prior to First Republic, he worked in the business valuation group of Andersen Tax, where he specialized in valuing privately-held companies with a focus on 409a valuations and cap table analysis, and began his career in Texas Instrument’s Finance department.
David received his bachelor’s degree in Business Administration from California Polytechnic State University, San Luis Obispo, concentrating in Finance and minoring in Economics. He holds the Chartered Financial Analyst ® designation and is an active member and educational volunteer of the CFA institute and CFA Society San Francisco, where he has served as a peer mentor and judge for the CFA Research Challenge.
David lives in Alamo, CA with his wife Elena, two sons and daughter. He enjoys coaching youth sports, snowboarding, golfing, and exploring the outdoors with his family.
David has 14 years of investment management experience. Currently he develops customized investment strategies and financial plans for families and institutions, specializing in portfolio construction and individual security selection. He manages global, multi-asset portfolios, investing broadly across stocks, bonds, real estate, and alternative investments, and has been recognized by Forbes as an America’s Top Next-Gen Advisor.
Prior to Morgan Stanley, David worked at First Republic Investment Management (2014-2023) initially as a Research Analyst covering the Healthcare, Technology, and Consumer sectors, and as an Equity Portfolio Strategist assisting in the construction and implementation of the firm’s equity strategies. Prior to First Republic, he worked in the business valuation group of Andersen Tax, where he specialized in valuing privately-held companies with a focus on 409a valuations and cap table analysis, and began his career in Texas Instrument’s Finance department.
David received his bachelor’s degree in Business Administration from California Polytechnic State University, San Luis Obispo, concentrating in Finance and minoring in Economics. He holds the Chartered Financial Analyst ® designation and is an active member and educational volunteer of the CFA institute and CFA Society San Francisco, where he has served as a peer mentor and judge for the CFA Research Challenge.
David lives in Alamo, CA with his wife Elena, two sons and daughter. He enjoys coaching youth sports, snowboarding, golfing, and exploring the outdoors with his family.
Securities Agent: WV, SD, TN, AZ, PA, OR, OH, RI, DC, ME, TX, AR, CA, KS, MS, OK, NM, NY, UT, MO, IL, VA, KY, HI, SC, NE, WY, FL, IA, WA, DE, LA, AL, ID, WI, MD, MT, NJ, MN, VT, MA, NC, PR, CT, CO, NH, MI, IN, GA, AK, VI, ND, NV; General Securities Representative; Investment Advisor Representative
NMLS#: 2505497
NMLS#: 2505497
About Elizabeth Garcia
With over 20 years of Private Banking experience, Elizabeth has transitioned to a Private Wealth Advisor role, bringing a deep understanding of high-net-worth individuals’ complex financial needs. Throughout her career, she has specialized in building strong, trust-based relationships with ultra-high-net-worth clients, including founders, C-suite executives, and family offices.
Prior to joining Morgan Stanley, Elizabeth was a Sr. Relationship Manager/Vice President with First Republic Bank, and she stuck by her clients' side to hold their hands through a historical bank failure as they were acquired by JP Morgan. As a Relationship Manager she acted as a "single point of contact" for her clients, providing them with tailored banking, lending, and financial solutions.
As a Private Wealth Advisor her focus continues to be on providing the "white glove" concierge service that her clients are accustomed to, with delivering comprehensive, personalized strategies. Elizabeth is excited to bring her relationship-driven approach where she can help clients navigate the complexities of wealth management to preserve their assets, build generational wealth, mitigate taxes and achieve long-term financial success.
Elizabeth is a Bay Area native and resides in San Francisco with her family. On the weekends she enjoys exploring the beautiful amenities SF has to offer with family and friends.
CRC #
Prior to joining Morgan Stanley, Elizabeth was a Sr. Relationship Manager/Vice President with First Republic Bank, and she stuck by her clients' side to hold their hands through a historical bank failure as they were acquired by JP Morgan. As a Relationship Manager she acted as a "single point of contact" for her clients, providing them with tailored banking, lending, and financial solutions.
As a Private Wealth Advisor her focus continues to be on providing the "white glove" concierge service that her clients are accustomed to, with delivering comprehensive, personalized strategies. Elizabeth is excited to bring her relationship-driven approach where she can help clients navigate the complexities of wealth management to preserve their assets, build generational wealth, mitigate taxes and achieve long-term financial success.
Elizabeth is a Bay Area native and resides in San Francisco with her family. On the weekends she enjoys exploring the beautiful amenities SF has to offer with family and friends.
CRC #
Securities Agent: OH, NC, AZ, VT, MN, MA, IL, AL, WA, MI, IA, HI, WV, VI, TX, MT, MD, WY, VA, NM, NJ, NH, MO, LA, DC, RI, PR, MS, KS, CO, AR, SD, SC, PA, NY, NV, KY, AK, OR, IN, UT, OK, GA, CT, WI, NE, ND, ME, ID, FL, DE, CA, TN; General Securities Representative; Investment Advisor Representative
About Kendal Schall
Kendal Schall works closely with our clients to develop customized financial plans including net worth statements, long term cash flow projections and scenario analysis. She also assists our clients with their retirement plans, education planning and estate planning needs.
Prior to joining Morgan Stanley, Kendal was a Financial Planner at First Republic Investment Management (2017-2023) and before that at the Legacy Capital Group in Los Gatos (2013-2017). Kendal started her career in various client service and financial planning roles at Morgan Stanley Smith Barney.
Kendal received her bachelor’s degree in Finance from Santa Clara University. She also holds the Certified Financial Planner CFP® designation.
Kendal lives in San Jose with her son and puppy. In her free time, Kendal enjoys hiking, baking and spending time with friends and family.
CRC 6118825
Prior to joining Morgan Stanley, Kendal was a Financial Planner at First Republic Investment Management (2017-2023) and before that at the Legacy Capital Group in Los Gatos (2013-2017). Kendal started her career in various client service and financial planning roles at Morgan Stanley Smith Barney.
Kendal received her bachelor’s degree in Finance from Santa Clara University. She also holds the Certified Financial Planner CFP® designation.
Kendal lives in San Jose with her son and puppy. In her free time, Kendal enjoys hiking, baking and spending time with friends and family.
CRC 6118825
Securities Agent: WY, KS, PR, NY, NV, MS, MO, IN, GA, CT, AL, NH, DE, CA, NM, MI, AR, OK, NE, WI, VI, RI, LA, IL, ID, UT, SC, MD, IA, AZ, WA, DC, CO, AK, VA, OH, NJ, ND, NC, MN, KY, FL, TX, SD, MT, MA, HI, WV, VT, TN, PA, OR, ME; General Securities Representative; Investment Advisor Representative
About Jackie Andrews
Jackie is the Group Director for the Summit Group and is responsible for shaping the vision of client service and business management for the team. She oversees daily operations and business planning and development, collaborates with Morgan Stanley’s team of experts to make meaningful impact on behalf of clients and colleagues, and enjoys fostering a strong culture of providing the highest level of service.
Jackie studied Urban Anthropology, Cultural Studies, and Art at San Francisco State University and worked in the community non-profit space for 12 years before pivoting in 2016 to a career in financial planning (at Morgan Stanley!) out of a passionate desire for helping people. She joined the Summit Group at First Republic Investment Management in 2021 and is delighted to be back at Morgan Stanley, continuing to work with an inspiring group of colleagues to help clients achieve their financial goals.
Jackie lives in West Oakland with her partner and two fur babies. In her free time, she enjoys reading, museum-going, playing music with friends, and hiking the East Bay’s redwood forests.
CRC 6198810
Jackie studied Urban Anthropology, Cultural Studies, and Art at San Francisco State University and worked in the community non-profit space for 12 years before pivoting in 2016 to a career in financial planning (at Morgan Stanley!) out of a passionate desire for helping people. She joined the Summit Group at First Republic Investment Management in 2021 and is delighted to be back at Morgan Stanley, continuing to work with an inspiring group of colleagues to help clients achieve their financial goals.
Jackie lives in West Oakland with her partner and two fur babies. In her free time, she enjoys reading, museum-going, playing music with friends, and hiking the East Bay’s redwood forests.
CRC 6198810
About Alexander Chan
As Director of Investments for the Summit Group, Alex is responsible for supporting the team in areas of portfolio management and markets research.
Alex joined the Summit Group at First Republic Investment Management in 2022. Beforehand, he worked at Bank of the West as a portfolio manager for 8 years where he worked with clients on their investment policies, carried out research for security selection, co-managed the US Large Cap Growth strategy, and led fixed income trading. Professional interests include macroeconomics, growth equities, and investment grade fixed income. He joined Morgan Stanley in 2023.
Alex earned a Master of Science in Finance from Santa Clara University, Leavey School of Business and a B.A. in Economics from the University of California, Santa Cruz. Alex holds the Chartered Financial Analyst designation and is a member of the CFA Society San Francisco.
While in school, Alex taught graduate MBA students financial theory and mathematics. He continues his passion for education in his career by helping clients make decisions with sound risk management.
In his free time, Alex enjoys traveling, tracking the aurora borealis, swimming, backpacking, and enjoying city life with friends in his native San Francisco.
CRC 6133719
Alex joined the Summit Group at First Republic Investment Management in 2022. Beforehand, he worked at Bank of the West as a portfolio manager for 8 years where he worked with clients on their investment policies, carried out research for security selection, co-managed the US Large Cap Growth strategy, and led fixed income trading. Professional interests include macroeconomics, growth equities, and investment grade fixed income. He joined Morgan Stanley in 2023.
Alex earned a Master of Science in Finance from Santa Clara University, Leavey School of Business and a B.A. in Economics from the University of California, Santa Cruz. Alex holds the Chartered Financial Analyst designation and is a member of the CFA Society San Francisco.
While in school, Alex taught graduate MBA students financial theory and mathematics. He continues his passion for education in his career by helping clients make decisions with sound risk management.
In his free time, Alex enjoys traveling, tracking the aurora borealis, swimming, backpacking, and enjoying city life with friends in his native San Francisco.
CRC 6133719
About Colin Murphy
Colin is a Wealth Management Analyst for the Summit Group at Morgan Stanley. His main responsibilities include trade execution, portfolio reporting and analysis, and operational support.
Prior to joining Morgan Stanley, Colin was an integral member of the Summit Group at First Republic Investment Management from 2018-2023. Colin worked in risk management for a FinTech company before joining the Summit Group.
Colin earned a Bachelor of Science in Financial Services from San Diego State University.
Outside of work, Colin enjoys playing golf, watching sports, and spending time outside barbequing with his wife, dog, and friends.
CRC 6198805
Prior to joining Morgan Stanley, Colin was an integral member of the Summit Group at First Republic Investment Management from 2018-2023. Colin worked in risk management for a FinTech company before joining the Summit Group.
Colin earned a Bachelor of Science in Financial Services from San Diego State University.
Outside of work, Colin enjoys playing golf, watching sports, and spending time outside barbequing with his wife, dog, and friends.
CRC 6198805
About Maxwell A. Morais
Maxwell works directly with clients to further strengthen relationships and assist with daily account needs.
Prior to Morgan Stanley, Maxwell joined the industry under the Summit Group as a Client Service Associate at First Republic Investment Management (2021-2023). Beforehand, he began his service career as a Sales & Marketing Coordinator for a new luxury Marriott development in Pismo Beach (2019-2021) where he was immersed in all aspects of white-glove hospitality.
Maxwell earned his B.S. in Business Administration from California Polytechnic State University in San Luis Obispo with a concentration in Marketing Management and a Minor in Media Arts, Society, and Technology. Maxwell draws from his well-rounded education to effectively problem-solve for, communicate with, and learn further from individuals of all backgrounds and fields.
Maxwell lives in Oakland with his husband, extended family, and rescued furry friends. In his free time, Maxwell enjoys exploring local restaurants, watching films, crafting, and community building through food and live music.
CRC 6198801
Prior to Morgan Stanley, Maxwell joined the industry under the Summit Group as a Client Service Associate at First Republic Investment Management (2021-2023). Beforehand, he began his service career as a Sales & Marketing Coordinator for a new luxury Marriott development in Pismo Beach (2019-2021) where he was immersed in all aspects of white-glove hospitality.
Maxwell earned his B.S. in Business Administration from California Polytechnic State University in San Luis Obispo with a concentration in Marketing Management and a Minor in Media Arts, Society, and Technology. Maxwell draws from his well-rounded education to effectively problem-solve for, communicate with, and learn further from individuals of all backgrounds and fields.
Maxwell lives in Oakland with his husband, extended family, and rescued furry friends. In his free time, Maxwell enjoys exploring local restaurants, watching films, crafting, and community building through food and live music.
CRC 6198801
About Luc Marshall
As a Registered Client Service Associate, Luc is responsible for supporting clients in various areas of financial services such as account and asset transfers, new account and client onboarding, account servicing, and much more.
Luc joined the Summit Group at First Republic Investment Management in 2022. Prior to his time with First Republic, Luc was attending the University of California, Santa Cruz, where he earned a B.A. in Business Management/Economics.
In his free time, Luc is an avid saxophonist and musician, playing and composing various types of music. He also enjoys hiking, basketball, and powerlifting.
CRC 6198804
Luc joined the Summit Group at First Republic Investment Management in 2022. Prior to his time with First Republic, Luc was attending the University of California, Santa Cruz, where he earned a B.A. in Business Management/Economics.
In his free time, Luc is an avid saxophonist and musician, playing and composing various types of music. He also enjoys hiking, basketball, and powerlifting.
CRC 6198804
Contact Randy J. Peterson
Contact Sean F. Bricmont
Contact Stephen R. Marotto
Contact David Dudek
Awards and Recognition
Forbes America's Top Wealth Advisors
2019-2025 Forbes America's Top Wealth Advisors Source: Forbes.com (Awarded 2019-2025). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of the year the award was issued.
Forbes Best-In-State Wealth Management Teams
Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2023) Data compiled by SHOOK Research LLC based on time period from 3/31/21-3/31/22.
Barron's Top 1,200 Financial Advisors: State-by-State
2016-2023 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State) Source: Barrons.com (Awarded 2016-2023). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
3
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
Jonathan Chen
Private Banker
Nathan Hurty
Private Banker
About Jonathan Chen
Jonathan Chen is a Private Banker serving Morgan Stanley Private Wealth Management in the San Francisco, Menlo Park, and Los Angeles area. He previously served as a Private Banker in the Pacific Northwest – Seattle, WA.
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.
Jonathan began his career in financial services in 2004 and joined Morgan Stanley in 2014. Prior to joining the firm, he was a Citigold Relationship Manager at Citibank. He also served as a Premier Client Manager and a Branch Manager at Bank of America.
Jonathan is a Bay Area native and currently resides in Union City, CA with his wife and two children. Outside of the office, he enjoys traveling, playing golf and watching sports.
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.
Jonathan began his career in financial services in 2004 and joined Morgan Stanley in 2014. Prior to joining the firm, he was a Citigold Relationship Manager at Citibank. He also served as a Premier Client Manager and a Branch Manager at Bank of America.
Jonathan is a Bay Area native and currently resides in Union City, CA with his wife and two children. Outside of the office, he enjoys traveling, playing golf and watching sports.
NMLS#: 765586
About Nathan Hurty
Nathan Hurty is a Private Banker serving Morgan Stanley Private Wealth Management offices in California.
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.
Nathan began his career in financial services in 2009, and joined Morgan Stanley in 2011, and has held roles in the Private Bank including Associate Private Banker and Loan Portfolio Manager. Prior to joining the firm, he was an Associate at Advanced Equities.
Nathan is a graduate of Augustana College, where he received a Bachelor of Arts degree in Finance with a minor in Economics. He lives in San Francisco, California with his family. Outside of the office, Nathan enjoys cooking and is an avid skier.
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.
Nathan began his career in financial services in 2009, and joined Morgan Stanley in 2011, and has held roles in the Private Bank including Associate Private Banker and Loan Portfolio Manager. Prior to joining the firm, he was an Associate at Advanced Equities.
Nathan is a graduate of Augustana College, where he received a Bachelor of Arts degree in Finance with a minor in Economics. He lives in San Francisco, California with his family. Outside of the office, Nathan enjoys cooking and is an avid skier.
NMLS#: 1116086
Private Wealth Management
Professional Insights
Summer Update: The Snapback
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Managing Significant Wealth
- Investment Management
- Wealth Transfer & Philanthropy
- Cash Management & Lending
- Family Governance & Wealth Education
- Lifestyle Advisory
- Business Services
Insights and Outcomes
Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
Private Wealth Management Podcast
Bringing you engaging stories and key insights surrounding the complexities associated with significant wealth, including:
- Intergenerational Planning
- Philanthropic Giving
- Non-Traditional Assets
- Managing Family Wealth
LISTEN | Passion Assets: Investing in Art
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We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
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 Smith Barney LLC and its affiliates and their employees (including Financial Advisors and Private Wealth Advisors) are not in the business of providing tax or legal advice. These materials and any statements contained herein should not be construed as tax or legal advice. Individuals should consult their personal tax advisor or attorney for matters involving taxation and tax planning and their attorney for matters involving personal trusts and estate planning.
2Morgan 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
3Borrowing against securities may not be appropriate for everyone. You should 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.
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.
Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your 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”) reserves 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 your 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.
4Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact 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.
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.
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products 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.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan 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
Awards Disclosures
1Morgan Stanley Smith Barney LLC and its affiliates and their employees (including Financial Advisors and Private Wealth Advisors) are not in the business of providing tax or legal advice. These materials and any statements contained herein should not be construed as tax or legal advice. Individuals should consult their personal tax advisor or attorney for matters involving taxation and tax planning and their attorney for matters involving personal trusts and estate planning.
2Morgan 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
3Borrowing against securities may not be appropriate for everyone. You should 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.
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.
Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your 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”) reserves 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 your 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.
4Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact 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.
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.
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products 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.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan 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
Awards Disclosures
CRC 4237142 (02/2025)
