Welcome to the SJG Group. We are a deeply experienced team of financial professionals who have worked together for over 15 years. We combine our diverse talents to deliver on a common mission: To help you identify, plan for and achieve your financial goals.

We operate with the following core beliefs:

We believe that you deserve straightforward, transparent, actionable advice.

We believe good plans begin with clear goals for the short, medium and long term.

We believe that organization is central to the financial planning process. We consolidate and summarize all the moving pieces to bring order to your financial life.

We believe confusion and complexity are inconsistent with effective wealth management, and work to simplify and streamline the planning process.

We believe in frequent and substantive conversations. The better we know you, the better equipped we are to provide meaningful advice.

We believe there is more to financial planning than outperforming an index. Disciplined risk management is critical to preserving and growing wealth for current and future generations.

Combining our own insights and experience with the vast global resources of Morgan Stanley, we deliver the full range of capabilities needed to help you address any financial challenge, including:

Comprehensive Wealth Planning
Tax, Trust & Estate Advisory
Customized Portfolio Construction
Tax-Efficient Asset Allocation
Manager Research & Selection
Disciplined Risk Management
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 250 teams1  specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $330 billion in AUM2
  • Comprising 26% of the Barron’s Top 100 Financial Advisors list for 20173
  • 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 31, 2017
2 Morgan Stanley Internal Compensable Revenue Report, December 31, 2017
3 Barron’s Top 100 Financial Advisors, April 2017


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.
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.
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.
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.
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.
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.

Global Franchise

Morgan Stanley serves a global clientele of individuals, families, corporations, endowments, foundations, governments and others through three core businesses:
  • Morgan Stanley Wealth Management
  • Institutional Securities Group
  • Investment Management
Our strength and synergies across each of these businesses not only contributes to the economic vitality and stability of the firm, but also expands the vast resources, expertise and global insight that we can offer you.
Morgan Stanley Franchise Power
  • $2.4tn in client assets under management1
  • Morgan Stanley reported revenues of $11.9Bn1
  • More than 55,000 global employees1
  • Global footprint includes 1,200 offices in 31 countries on six continents1
  • Tier 1 risk-based capital Ratio under U.S. Basel III was approximately 17.8%1
  • $206Bn in liquidity reserve1
  • Long-term credit rating A3, BBB+ and A, by Moody’s, S&P and Fitch, respectively2
1Unaudited. As of March 31, 2018, Morgan Stanley Quarterly Financial Supplement


399 Park Ave
12th Fl
New York, NY 10022
(212) 893-6409(212) 893-6409

Meet The SJG Group

Photo of Judy Then

Judy Then

Senior Registered Client Service Associate

About Me

Raymond G. Schuville
Managing Director
Private Wealth Advisor

Drawing on over 40 years of domestic and international financial experience, Ray Schuville works with high net worth families, endowments and foundations to create and implement comprehensive wealth management plans. This includes coordinating investment management, wealth advisory, cash management and lending solutions to address their specific goals.

Ray joined Morgan Stanley in 2017 from U.S. Trust, where he also focused on the financial needs of affluent families. Prior to U.S. Trust, Ray worked for Barclays Wealth following the Barclays acquisition of Lehman Brothers’ Private Investment Management business in the Americas. While at Lehman Brothers, he established and spearheaded the corporate executives practice, working closely with the Investment Banking Division. Ray began his career at J.P. Morgan, where he rose to become a Senior Managing Director in the investment banking division and J.P. Morgan Private Bank.

Ray earned a B.A. from John Carroll University and a Master’s in international management from Thunderbird, the American Graduate School of International Management. He has served on the National Advisory Board and the Parents’ Advisory Council of the Robert Emmett McDonough School of Business at Georgetown University. He has also served on the board of directors of the Cold Spring Harbor Laboratory Association and the board of managers of the Cold Spring Harbor Beach Club, where he was president. Ray is a trustee of the North Shore Land Alliance and a member of the Capital Campaign Steering Committee. He is a long-term resident of Lloyd Harbor, New York, where he and his wife, Nancy, raised their three children after returning from a 10-year assignment in Madrid and London.
Securities Agent: CT, PA, NY, NJ, MA, KY, IL, GA, FL, DE, CA, AZ; General Securities Representative; Investment Advisor Representative
NMLS#: 574547

About Me

George A. Jenckes IV, CFA
Executive Director
Private Wealth Advisor

George Jenckes is an Executive Director and Private Wealth Advisor at Morgan Stanley in New York. George focuses on global multi-asset class portfolio construction and developing comprehensive investment strategies including both public and private financial assets across capital markets. George has over fifteen years of investment experience combining strategic asset allocation with tactical market views to develop portfolio strategy recommendations for high net worth families, endowments and foundations. George works closely with Morgan Stanley’s Chief Investment Office to advise clients on a wide-range of investment solutions, and alternative asset classes including: equities, fixed income, private equity, hedge funds, and other alternative assets. In addition, George focuses on manager research and selection and engages in ongoing quantitative and qualitative due diligence on Morgan Stanley’s independent third-party investment managers.

George joined Morgan Stanley in March of 2017. Prior to joining Morgan Stanley he was a Senior Portfolio Strategist at U.S. Trust for over six years. He also served as an investment advisor with Barclays Wealth Americas following the Barclays acquisition of Lehman Brothers’ Private Investment Management business in the Americas. While at Barclays and Lehman Brothers, he provided global investment strategy advice and capital markets execution to corporate executive clients. Prior to joining Lehman Brothers in 2006, George spent five years at the J.P. Morgan Private Bank as a Global Investment Specialist, where he implemented investment strategies for the firm’s senior executive clients, entrepreneurs and private company owners.

George graduated Magna Cum Laude from Bucknell University with a Bachelor of Arts in Economics and Finance. He holds the Chartered Financial Analyst® (CFA®) designation and is a member of the New York Society of Security Analysts. George was a recipient of the 2016 and 2017 President’s Award at U.S. Trust.

George and his wife, Ann, currently reside in Fairfield, CT with their two children.
Securities Agent: CT, PA, NY, NJ, MA, KY, IL, GA, FL, DE, CA, AZ; General Securities Representative; Investment Advisor Representative
NMLS#: 574514

About Me

Joshua A. Glazer
Senior Vice President
Financial Advisor

Josh Glazer works closely with the team's clients to construct, maintain and monitor highly customized financial plans. Josh takes great pride in helping families define clear financial goals, which he believes is the starting point for an actionable and successful financial plan. Combining thoughtful wealth planning with sound portfolio construction, Josh hopes to deconstruct complex issues and provide clients with a simplified approach to managing their wealth.  

Prior to joining Morgan Stanley in 2017, Josh spent 6 years at U.S. Trust, most recently as senior vice president and private client manager. Prior to U.S. Trust, Josh worked for Barclays Wealth Americas following their acquisition of the Lehman Brothers Private Investment Management business. He began his career in Wealth Management at Lehman Brothers in 2005.  

Josh graduated from the University of Wisconsin-Madison in 2004 with a Bachelor of Science in economics. He is an active volunteer with Citizen Schools, where he sits on the New York Board of Advocates and teaches a weekly financial literacy class to middle-school students in low-income communities.  Josh and his wife, Jaime, reside in New York City with their son, Cooper.
Securities Agent: CT, PA, NY, NJ, MA, KY, IL, GA, FL, DE, CA, AZ; General Securities Representative; Investment Advisor Representative
NMLS#: 574583

About Me

Judy Then is a Senior Registered Associate at The SJG Group a Wealth Management team at Morgan Stanley.

Judy brings more than 30 years of experience in the wealth management industry of which the last 8 years have been with Morgan Stanley Wealth Management. Over the span of her career she has worked closely with some of the most sophisticated clients in the United States, covering ultra-high net worth individuals and family offices. Prior banks and broker dealers include UBS Financial Services, Wachovia Securities (Wells Fargo), Prudential Securities, SC Cowen Securities and Merrill Lynch.

Judy has become a seasoned expert in client service, administration and operations, being a key resource to the team and the group’s clients.

She attended Pace University and York College in New York and holds the Series 7 and 63 licenses.
Professional Insights

On the Markets

Economic and Market Perspectives

On the Markets

Managing Significant Wealth

  • Investment Management
  • Wealth Transfer & Philanthropy
  • Cash Management & Lending
  • Family Governance & Wealth Education
  • Lifestyle Advisory
  • Business Services
Successfully Staffing Your Home

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By adopting more professional approaches to hiring, training and retaining staff, you can more easily maintain a well-run and harmonious home.

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.
Art as An Asset
CRC 2274738 01/19

Art as An Asset

Art may play a significant role in the context of a collector's overall wealth. Generally, a collector may differentiate financial assets, including stocks, bonds and real estate, from other possessions, such as art.

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We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
Market Information Delayed 20 Minutes
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.

See the Financial Advisors Biographies for Registration and Licensing information.

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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

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Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.