Thaddeus Barnes, CFP®
Senior Vice President, Financial Advisor, Financial Planning Specialist, Portfolio Management Director
Phone:
(605) 357-2266(605) 357-2266
The SilverArc Group at Morgan Stanley
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Industry Award WinnerOur Mission Statement
Tell your story once.
About Us
We believe a great financial plan goes beyond the numbers. It’s about the path to financial independence and, more importantly, delivering on the promise you’ve made to yourself and to those who have placed their confidence in you.
The SilverArc Group at Morgan Stanley focuses on bridging the gap between creating wealth and making the important transition toward using that wealth to help support income needs over time. We provide consulting and investment management services to entrepreneurs, business owners, retirees, and high-net-worth families across the country. With more than 60 years of combined experience, we bring a strategic, common-sense approach to designing and implementing detailed financial plans for every stage of life.
We aim to provide clear and concise guidance and make the complex understandable. With the global resources of Morgan Stanley, the SilverArc Group builds strategies to help address many aspects of your financial well-being. Our process is designed to help address your needs and answer your questions, including considerations you may not have identified yet.
When you work with the SilverArc Group at Morgan Stanley, you only tell your story once.
Your goals. Our advice.
The SilverArc Group at Morgan Stanley focuses on bridging the gap between creating wealth and making the important transition toward using that wealth to help support income needs over time. We provide consulting and investment management services to entrepreneurs, business owners, retirees, and high-net-worth families across the country. With more than 60 years of combined experience, we bring a strategic, common-sense approach to designing and implementing detailed financial plans for every stage of life.
We aim to provide clear and concise guidance and make the complex understandable. With the global resources of Morgan Stanley, the SilverArc Group builds strategies to help address many aspects of your financial well-being. Our process is designed to help address your needs and answer your questions, including considerations you may not have identified yet.
When you work with the SilverArc Group at Morgan Stanley, you only tell your story once.
Your goals. Our advice.
Services Include
- Wealth Consulting
- Financial PlanningFootnote1
- Retirement PlanningFootnote2
- Estate Planning StrategiesFootnote3
- Alternative InvestmentsFootnote4
- Professional Portfolio ManagementFootnote5
- Lending Products
- Life InsuranceFootnote6
- Long Term Care InsuranceFootnote7
- 401(k) Rollovers
- 529 PlansFootnote8
- AnnuitiesFootnote9
- Cash ManagementFootnote10
- Municipal BondsFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
INVESTOR RESOURCES
Stay connected with the latest updates from our team. Here you'll find an archive of past communications, including market commentary, planning insights, and timely updates - all available for download in PDF format. You can also explore upcoming client events and opportunities to engage with our team throughout the year.
We invite you to check back regularly for new additions and announcements.
The SilverArc Group Mid-Year Newsletter – July 14
A midyear check-in featuring timely market context and themes shaping finance, including AI investment, capital deployment, consumer resilience, and the evolving role of private credit. Includes several short reads on trends like premium travel rewards and shifting consumer spending.
Executing a Resilient Retirement – June 15
A retirement readiness checklist focused on common milestones and planning considerations in your 60s and 70s. Helpful for organizing next steps around retirement planning and staying on track as priorities shift over time.
2026 Mid-Year Outlooks – June 1
A mid-year investment outlook and economic outlook focused on key themes shaping markets and investor sentiment. Highlights include an AI-driven capex cycle, resilient earnings, and factors to watch such as energy prices, credit conditions, and the U.S. dollar.
The SilverArc Group May Newsletter – May 27
A monthly newsletter with timely reminders and market perspectives to help clients stay aligned on priorities heading into June. Includes links to current market commentary, tax planning ideas like tax-loss harvesting, and philanthropic planning resources.
Estate Planning Strategies: Understanding Trusts – May 11
An estate planning education piece focused on trusts and legacy planning, including a comparison of a Revocable Living Trust versus a Transfer on Death (TOD) account. A helpful starting point for organizing questions ahead of an estate planning attorney meeting.
Graduation Month Insights – May 5
A graduation-season note with practical resources for students and families, including credit basics, budgeting steps, and early investing education. A helpful share for parents, grandparents, and anyone supporting a new graduate.
The SilverArc Group April Newsletter – April 28
A monthly newsletter featuring a mix of timely planning topics and market-related reads, including helping a loved one buy a home, investing fundamentals, and perspectives on AI and jobs. Designed for quick, practical takeaways.
The SilverArc Group March Newsletter – March 27
A monthly roundup with seasonal planning reminders and market insights, plus curated reads on spring financial organization, tax season planning, and goal-based investing. Easy to scan and share.
Middle East Volatility Report – March 12
A brief market update on escalating Middle East conflict and what it could mean for investors, with a focus on potential volatility and the role of oil prices in market outcomes. Useful context for staying informed during geopolitical uncertainty.
Have You Checked for a Forgotten 401(k)? – March 3
A retirement planning reminder for anyone who has changed jobs, highlighting the Department of Labor's Retirement Savings Lost and Found tool to help locate old 401(k) and pension accounts. A good starting point for consolidation conversations.
Discover How We Help You Spend More Time Doing Life
Our Approach:
At The SilverArc Group at Morgan Stanley, we help clients bring clarity to complexity through a coordinated approach to managing wealth, family priorities, and long-term financial goals. Our process is designed to help you understand where you stand today, where you want to go, and how each part of your financial life can work together with purpose.
Personalized Planning
We begin with a thorough discovery process to understand your goals, values, concerns, and what truly matters to you financially. From there, we build a goals-based financial plan that provides a clear picture of where you stand today and offers forward-looking direction for the path ahead.
Education and Clarity
We believe informed clients make more confident decisions. Our team provides clear, concise guidance designed to make complex financial topics easier to understand, helping simplify decision-making and create greater confidence in your financial direction.
Income Transition Focus
One of the most important phases of wealth is the transition from accumulating assets to using those assets to help generate sustainable, lifelong income. We help connect that gap through thoughtful withdrawal planning, diversified income strategies, and ongoing portfolio management designed to support your lifestyle with consistency and intention.
Ongoing Support and Communication
Your plan should evolve as your life does. We remain accessible and responsive, communicating regularly to help explain markets, answer questions, and adjust strategies as circumstances change. Our goal is to serve as a steady presence—helping you stay focused on what matters most while we help manage the moving pieces.
Meet Our Team:
Thaddeus M. Barnes, CFP®
Senior Vice President and Financial Advisor. Financial Planning Specialist and Portfolio Management Director, with a focus on comprehensive financial planning, portfolio management, and insurance planning.
Robert C. Hall, CFP®
Senior Vice President and Financial Advisor. Senior Portfolio Management Director and Alternative Investments Director, focused on comprehensive financial planning and alternative investments.
Andrew C. DeMore
Senior Vice President and Wealth Advisor. Senior Portfolio Manager and Investment Management Consultant, focused on alternative investments, portfolio management, financial planning, and banking and lending services.
Ashley Marden
Financial Advisor, focused on small business retirement plans, client relations, marketing, and specialty client services.
Nancy Higgins
Client Relationship Analyst, focused on client relations, banking and lending needs, account operational services, and specialty client services.
Andie Mataloni
Wealth Management Associate and Financial Planning Specialist, focused on client relations, banking and lending needs, account operational services, and specialty client services.
Our Services:
We take a fully integrated approach to your financial life, providing strategies across the many areas that shape long-term financial well-being. Our services include comprehensive financial planning, goals-based planning, portfolio construction and management, alternative investments, retirement income planning and withdrawal strategies, insurance planning, estate and legacy strategies, and tax planning considerations such as tax-advantaged investing and tax loss management.
We also support charitable giving and gifting strategies, business planning and succession planning, small business retirement plans, and banking and lending services, including CashPlus and Liquidity Access Line. Each element is designed to work together—helping align your wealth, priorities, and time.
Contact Us:
Let's discuss how we can work together so you can spend more time doing life. Call (605) 338-6500 or toll-free (800) 869-6565. You can also email thaddeus.barnes@morganstanley.com, andrew.demore@morganstanley.com, rob.hall@morganstanley.com, or ashley.marden@morganstanley.com.
Professional Portfolio Management
Personalized Portfolios: Your Portfolio Manager will use his/her discretion to identify an investment strategy tailored to help meet your needs.
Comprehensive Communications: Throughout your relationship, you'll have direct access to the investment professional managing your portfolio.
Client Focus: Each account can be individually customized to help meet your requirements for growth, income or preservation of capital within your risk constraints.
Asset-Based Fee*: Fees for the program are based on your account's asset level, not on the number of transactions performed in a given time period.
Disclosures:
* The Portfolio Management program account will be charged an annual asset-based fee ("the Fee") which is payable monthly in advance (some account types may be billed differently). In general, the Fee covers investment advisory services, the execution of transactions through Morgan Stanley Smith Barney LLC ("Morgan Stanley") or its affiliates, custody of the client's assets with Morgan Stanley Smith Barney LLC and its affiliates, and reporting. Each account that is invested in the PM program that is eligible to purchase certain investment products, such as Mutual Funds, is charged a Platform Fee, regardless of whether a specific PM account is invested in such investment product. The Platform Fee is in addition to the wrap Fee, is subject to a Platform Fee offset, and is applicable to all custodied PM accounts, except for Retirement Accounts covered by Title I of ERISA, including for example, certain Simplified Employee Pension (SEPs) accounts and SIMPLE IRAs, as well as certain other account types.
Lastly, accounts invested in certain investment products, such as mutual funds, will pay the fees and expenses of those investment products. Fund fees and expenses are charged directly to the pool of assets the fund invests in and are reflected in each fund's share price. You understand that these fees and expenses are an additional cost to you and will not be included in the Fee amount in your account statements. Diversification and asset allocation do not assure a profit or protect against loss.
For more information on the Portfolio Management Program, see the applicable ADV brochure, available from your Portfolio Manager or at www.morganstanley.com/ADV. Although the statements of fact and data in this report have been obtained from, and are based upon, sources that the Firm believes to be reliable, we do not guarantee their accuracy, and any such information may be incomplete or condensed. All opinions included in this report constitute the Firm's judgment as of the date of this report and are subject to change without notice. This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Past performance is not a guarantee of future results.
Morgan Stanley Smith Barney LLC and its Financial Advisors do not provide tax or legal advice. Individuals should consult their personal tax and legal advisors before making any tax- or legal-related decisions.
CRC: 3991634 11/24
CRC: 4364875 3/25
Wealth management isn't a one-time event. It is an ongoing process designed to create structure today while helping preserve opportunity for the next generation. The strategies we help implement are approached with long-term continuity in mind, with the goal of helping keep financial decisions aligned with evolving goals, family needs, and market conditions.
Our services reflect that philosophy:
Portfolio Management
Custom investment strategies designed to reflect long-term objectives, emphasizing risk awareness, tax efficiency, and multi-asset diversification strategies.
Disclaimers:
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Comprehensive Financial Planning
Bringing together investments, tax management strategies, estate planning strategies, and cash flow into a cohesive, adaptable financial structure.
Retirement and Liquidity Planning
You have a unique vision for your retirement. Proper, proactive planning is the first step toward bringing that vision to life.
Cash Management and Lending Solutions
At Morgan Stanley, we recognize that clients and their families have unique needs that require dedicated experience and capabilities. Our goal is to help simplify your financial life with a combination of cash management and lending solutions designed to complement your investment strategy and support your financial goals.
Next Generation Wealth Strategy
Helping families prepare heirs to manage wealth responsibly through governance planning, education, and structured asset transfer strategies.
Estate Planning Strategy Coordination
We can collaborate with your legal and tax advisors to help estate plans support long-term family goals, legacy transfer, and tax efficiency.
Philanthropic Strategy and Impact Giving
Strategic services to help you define and implement your philanthropic mission
Business Owner Advisory
Advising on liquidity events, business succession, and pre-sale planning to help owners plan for how business value may support long-term family goals
401(k) and Employer Retirement Plans
Designing and managing retirement plans for businesses with a focus on with a focus on supporting plan sponsors with their retirement plan responsibilities
Insurance Planning
Incorporating life, disability, and long-term care insurance into broader wealth strategies as part of risk management and wealth preservation strategies.
Disclosures:
Life insurance, disability income insurance, annuities, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Location
300 Cherapa Place
Ste 503
Sioux Falls, SD 57103
US
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Meet The SilverArc Group
Andrew DeMore
Senior Vice President, Wealth Advisor, Portfolio Management Director
Phone:
(605) 357-2287(605) 357-2287
Rob Hall, CFP®
Senior Vice President, Financial Advisor, Senior Portfolio Management Director, Alternative Investments Director
Phone:
(605) 357-2281(605) 357-2281
Ashley Marden
Financial Advisor
Phone:
(701) 492-2403(701) 492-2403
Nancy Higgins
Senior Registered Associate
Phone:
(605) 338-6500(605) 338-6500
Andie Mataloni
Wealth Management Associate, Financial Planning Specialist
Phone:
(605) 357-2290(605) 357-2290
About Thaddeus Barnes
Thad works in the creation of our clients most sophisticated financial strategies in addition to co-managing each of The SilverArc Group LifeStyle portfolios.
Thad is a Certified Financial Planner CFP® and Portfolio Management Director whom began his career in the insurance industry crafting risk management and wealth transfer strategies. His diverse background assists the clients' of The SilverArc Group in the creation of strategies that cover all aspects of their wealth planning needs. Thad graduated with a Bachelor degree in Business Economics from South Dakota State University.
When Thad is away from the office he enjoys spending his time at the baseball fields watching and assisting with one of his four boys baseball teams, cycling and volunteering his time with Sioux Falls Catholic School System and SFCS Foundation. Thad and his wife Nicole live in Sioux Falls, SD with their four boys Elliott, Oliver, Harris and Hugh.
Thad is a Certified Financial Planner CFP® and Portfolio Management Director whom began his career in the insurance industry crafting risk management and wealth transfer strategies. His diverse background assists the clients' of The SilverArc Group in the creation of strategies that cover all aspects of their wealth planning needs. Thad graduated with a Bachelor degree in Business Economics from South Dakota State University.
When Thad is away from the office he enjoys spending his time at the baseball fields watching and assisting with one of his four boys baseball teams, cycling and volunteering his time with Sioux Falls Catholic School System and SFCS Foundation. Thad and his wife Nicole live in Sioux Falls, SD with their four boys Elliott, Oliver, Harris and Hugh.
Securities Agent: WA, FL, NV, NH, GA, VT, SC, OH, ND, MN, MA, PA, OK, NJ, NC, ID, CO, NM, NE, MT, LA, IA, HI, VA, MD, IL, AZ, WY, WI, NY, MI, KS, CA, UT, TN, TX, IN, SD, MO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1261811
CA Insurance License #: 0D19664
NMLS#: 1261811
CA Insurance License #: 0D19664
About Andrew DeMore
Andrew focuses on working with clients to create personalized financial strategies in addition to co-managing each of The SilverArc Group LifeStyle portfolios.
Andrew is a Portfolio Management Director and Senior Investment Management Strategist. Having joined Morgan Stanley in 1999 Andrew has spent his entire career building relationships and gathering resources within the firm that assists The SilverArc Group in delivering on the needs of their clients. Andrew attended the University of South Dakota and graduated with a Bachelor degree in Business Finance.
In his free time Andrew enjoys golf, snowboarding, playing and coaching soccer, and traveling with his family. He lives in Sioux Falls, SD with his wife Tricia, and his two children Sophie and Hudson.
Andrew is a Portfolio Management Director and Senior Investment Management Strategist. Having joined Morgan Stanley in 1999 Andrew has spent his entire career building relationships and gathering resources within the firm that assists The SilverArc Group in delivering on the needs of their clients. Andrew attended the University of South Dakota and graduated with a Bachelor degree in Business Finance.
In his free time Andrew enjoys golf, snowboarding, playing and coaching soccer, and traveling with his family. He lives in Sioux Falls, SD with his wife Tricia, and his two children Sophie and Hudson.
Securities Agent: NJ, NE, MA, SD, NM, MO, CO, WY, OH, MI, TN, PA, ND, ID, HI, VA, SC, MN, NC, FL, AZ, KS, IA, NV, MT, MD, LA, IN, IL, GA, CA, TX, NY, WI, WA, UT, OK; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1594999
CA Insurance License #: 0K84643
NMLS#: 1594999
CA Insurance License #: 0K84643
About Rob Hall
Rob Hall is a Financial Advisor at Morgan Stanley with more than 20 years of experience as a guide for his clients. Rob is a Certified Financial Planner™ (CFP®), and has a bachelor’s degree from the Beacom School of Business at the University of South Dakota. He is a Senior Vice President at Morgan Stanley, and holds the designation of Senior Portfolio Management Director. Rob’s background and experience allow him to bring a strategic, common-sense approach to the design and implementation of detailed financial plans.
Rob lives in Sioux Falls with his wife, Mandy, and their two children, Jules and Jackson. Outside of the office, Rob and his family are constantly on the move, and they wouldn’t have it any other way. They enjoy mountain biking, skiing, wake surfing, sporting events, and spending time at their cottage in Spirit Lake, IA.
NMLS#: 1272991
CA Insurance License #: OM94325
The CFP® certification process, administered by CFP Board, identifies to the public that those individuals who have been authorized to use the CFP® certification marks in the U.S. have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients.
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Rob lives in Sioux Falls with his wife, Mandy, and their two children, Jules and Jackson. Outside of the office, Rob and his family are constantly on the move, and they wouldn’t have it any other way. They enjoy mountain biking, skiing, wake surfing, sporting events, and spending time at their cottage in Spirit Lake, IA.
NMLS#: 1272991
CA Insurance License #: OM94325
The CFP® certification process, administered by CFP Board, identifies to the public that those individuals who have been authorized to use the CFP® certification marks in the U.S. have met rigorous professional standards and have agreed to adhere to the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when dealing with clients.
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Securities Agent: ND, IL, CO, VT, UT, NY, NJ, MA, GA, FL, NM, VA, KS, SD, NC, MT, MI, IN, NE, MO, DE, AZ, OK, OH, MD, LA, WY, WI, TX, PA, ID, WA, OR, NV, MN, CA, IA, HI, AL, TN, SC; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1272991
CA Insurance License #: OM94325
NMLS#: 1272991
CA Insurance License #: OM94325
About Ashley Marden
Ashley Marden has been with Morgan Stanley and The SilverArc Group since 2016. She is a Financial Advisor that focuses in the area of cash management and lending solutions, retirement plan strategies, and concierge services. Ashley’s career has been geared towards seeking to help enhance the customer experience by assisting their clients with an elevated level of care and attention to detail. Ashley lives with her husband and their three children in Fargo, North Dakota.
Disclosures:
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
Disclosures:
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
Securities Agent: MA, HI, WI, TX, MD, PA, NY, NJ, ID, OH, NM, NC, IN, WY, TN, SC, OK, MI, CA, AZ, MT, FL, VA, ND, IA, CO, WA, VT, NV, MN, LA, UT, NE, GA, SD, MO, KS, IL; General Securities Representative; Investment Advisor Representative
NMLS#: 1844965
NMLS#: 1844965
About Nancy Higgins
Nancy has been a Licensed Senior Client Service Associate for over 18 years. She holds a bachelors degree from Augustana College in Sioux Falls, SD. Though Nancy grew up in Sioux City, IA she is a long time resident of Sioux Falls. Nancy's experience in all aspects of our clients' service is an instrumental part of our teams' success.
About Andie Mataloni
A native of Urbandale, Iowa, Andie graduated from the University of Sioux Falls in 2020 with a degree in business administration and minors in accounting and finance while also playing basketball. Andie joined Morgan Stanley in the fall of 2022 and is a fully licensed associate after passing her Series 7 and 66 exams. In 2024, she earned the designation of Financial Planning Specialist.
Outside of the office, Andie enjoys attending her local CrossFit gym, reading, and traveling around the country visiting family and friends.
This role cannot solicit or provide investment advice.
Outside of the office, Andie enjoys attending her local CrossFit gym, reading, and traveling around the country visiting family and friends.
This role cannot solicit or provide investment advice.
Contact Thaddeus Barnes
Contact Andrew DeMore
Contact Rob Hall
Contact Ashley Marden
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2025-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2025-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The SilverArc Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
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.
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 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.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Investors 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.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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
11Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
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.
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 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.
4Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
5Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
8Investors 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.
9Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
10Morgan 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
11Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
