David Smith, CRPC®
Senior Vice President, Financial Advisor
Phone:
(708) 226-5453(708) 226-5453
The Smith Wealth Management Group at Morgan Stanley
Direct:
(708) 226-5453(708) 226-5453
Our Mission Statement
Providing comprehensive, goal-oriented financial planning and investment management.
Our Story and Services
The Smith Wealth Management Group's journey is one of dedication, growth, and an aim to maintain a steadfast commitment to clients. Our story began over four decades ago when David Smith embarked on his career in the financial industry in 1983. With a vision to provide clients with strategic guidance and personalized service, David quickly established himself as a dedicated advisor, navigating clients through the complexities of financial markets and economic changes. His experience spans significant market events, including the crashes of 1987 and 2008, the bull market of the 1990s, and the tech bubble of 2000. Throughout these times, David's calm counsel and strategic thinking have been instrumental in helping clients maintain focus on their long-term goals.
In 2025, The Smith Wealth Management Group proudly joined Morgan Stanley, a move that aligns with our commitment to striving to deliver exceptional service and comprehensive financial solutions. This relationship allows us to leverage Morgan Stanley's extensive resources and innovative tools, enhancing our ability to serve our clients' diverse needs.
Our team is further strengthened by the skilled focus of Taylor dePenaloza, who joined the group with a robust background in financial planning and asset management. Taylor's passion for helping clients achieve their aspirations is evident in her personalized approach to wealth management. Her experience in retirement income planning, estate and multi-generational planning, and executive compensation strategies adds a valuable dimension to our team's capabilities.
We are also excited to welcome Austin Smith, as a new associate on the team. Austin brings fresh perspectives and enthusiasm to the team, eager to learn from the seasoned experience of his father and sister. His addition marks a new chapter in our story, as we continue to build a legacy of excellence and innovation in financial advisory services.
Judy Severino, our dedicated Client Service Associate, completes our team with her 30 years of industry experience. Judy's deep understanding of client needs and her commitment to exceptional service helps ensure that our clients receive the highest level of care and attention. Her role in managing daily client activities and fostering strong relationships is vital to our customized strategies.
Together, we are committed to building lasting relationships with our clients, understanding their unique needs, and providing tailored solutions to help them achieve their financial goals.
In 2025, The Smith Wealth Management Group proudly joined Morgan Stanley, a move that aligns with our commitment to striving to deliver exceptional service and comprehensive financial solutions. This relationship allows us to leverage Morgan Stanley's extensive resources and innovative tools, enhancing our ability to serve our clients' diverse needs.
Our team is further strengthened by the skilled focus of Taylor dePenaloza, who joined the group with a robust background in financial planning and asset management. Taylor's passion for helping clients achieve their aspirations is evident in her personalized approach to wealth management. Her experience in retirement income planning, estate and multi-generational planning, and executive compensation strategies adds a valuable dimension to our team's capabilities.
We are also excited to welcome Austin Smith, as a new associate on the team. Austin brings fresh perspectives and enthusiasm to the team, eager to learn from the seasoned experience of his father and sister. His addition marks a new chapter in our story, as we continue to build a legacy of excellence and innovation in financial advisory services.
Judy Severino, our dedicated Client Service Associate, completes our team with her 30 years of industry experience. Judy's deep understanding of client needs and her commitment to exceptional service helps ensure that our clients receive the highest level of care and attention. Her role in managing daily client activities and fostering strong relationships is vital to our customized strategies.
Together, we are committed to building lasting relationships with our clients, understanding their unique needs, and providing tailored solutions to help them achieve their financial goals.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
FINANCIAL PLANNING WITH THE SMITH WEALTH MANAGEMENT GROUP
Your financial plan should include more than just your investment objectives. Rather, it should be tailored to address the personal life and legacy goals you've identified and prioritized. The Smith Wealth Management Group's planning process begins with you, your personal goals, your financial goals, and your investment objectives. It is holistic in its approach and encompasses all the key elements of your financial life as well as your cash management needs. Your curated wealth plan includes research and recommendations across a wide range of asset classes, themes, models, and investment managers to accomplish your objectives.
The CFP® Professional:
Taylor dePenaloza is certified by the CFP® Board. The CFP® designation shows that Taylor has taken the extra step to demonstrate commitment and professionalism by voluntarily submitting to the rigorous CFP® certification process to better serve the team's clients.
The certification process includes demanding education, examination, experience, and ethical requirements. These four cornerstones set the foundation for the ability in helping clients achieve their goals. Taylor's diverse skillsets can help you navigate the complicated financial factors in your life.
Our LifeView® Platform:
Using Morgan Stanley's LifeView® platform – Taylor and the team can create your personal roadmap to help achieve and protect your goals - a framework that makes the connection between your life goals and your financial resources and provides a baseline for future discussions.
LifeView® helps us help you:
- Analyze your current investments and financial situation
- Review and prioritize your goals with you, such as retirement
- Education funding
- Major purchases and philanthropic goals
- Protect your goals
- Develop wealth transfer strategies
Discover
Start with a conversation to gain a thorough understanding of your needs, lifestyle and family – and your goals for the future.
Advise
Work with you to develop portfolio strategies to help you achieve and protect the outcomes you envision.
Implement
Look across multiple accounts and products to help you implement solutions that are an appropriate fit for your strategy.
Track Progress
Help you track your progress as well as spending and savings to help ensure you remain on track towards your goals.
MANAGING YOUR LEGACY
At Morgan Stanley, we recognize that effective wealth management involves a comprehensive approach tailored to your unique needs and goals. Our team is committed to offering strategic guidance and personalized solutions that help you navigate the complexities of financial planning. Whether you're looking to grow your assets, manage your tax obligations, explore diverse investment opportunities, or ensure liquidity and flexibility in your financial strategy, we are here to assist you every step of the way. Our focus is on delivering the insights and support you need to make informed decisions and achieve your financial aspirations.
Retirement Planning
Retirement planning is a personalized journey designed to help you achieve financial security and peace of mind in your later years. Our team works closely with you to develop a comprehensive strategy that aligns with your unique goals and lifestyle aspirations. By leveraging a wide array of resources and insights, we aim to provide you with a tailored plan that addresses your income needs, investment strategies, and risk management, ensuring you are well-prepared for a fulfilling retirement.
Investment Management
Our Investment Management services are designed to help you navigate the complexities of the financial markets and achieve your long-term financial goals. Our team works closely with you to develop a customized investment strategy that aligns with your risk tolerance, time horizon, and financial objectives. We offer a diverse range of investment solutions, including equities, fixed income, and alternative investments, to ensure a well-rounded portfolio. By leveraging our global insights and cutting-edge research, we aim to provide you with the tools and guidance necessary to make informed investment decisions and optimize your portfolio's performance.
Direct Indexing
Morgan Stanley's Direct Indexing services provide a customized investment approach, allowing you to directly own a diversified set of securities that replicate a specific index. This strategy offers the flexibility to tailor your portfolio based on personal preferences, such as tax efficiency or ESG considerations. By utilizing advanced technology and expert insights, Direct Indexing helps you align your investments with your unique financial goals.
Cash Management and Lending Solutions
Morgan Stanley offers comprehensive cash management and lending solutions designed to enhance your financial flexibility and efficiency. Our cash management services provide tools for effective liquidity management, while our lending solutions offer tailored credit options to meet your personal and business needs.
Alternative Investments
Morgan Stanley offers a diverse range of alternative investment solutions designed to enhance portfolio diversification and potentially improve risk-adjusted returns. These include private equity, hedge funds, real estate, and infrastructure investments, providing clients with access to unique opportunities beyond traditional asset classes.
Tax Management Services
Morgan Stanley's Tax Management Services are designed to optimize clients' tax strategies and enhance after-tax returns through personalized solutions. These services include features such as tax-loss harvesting, gain limit settings, and frequency customization to align with individual financial goals. By integrating tax considerations into overall financial planning, clients can potentially improve their investment outcomes.
LEADING A FULFILLING RETIREMENT
The retirement planning landscape is shaped by evolving economic conditions, regulatory updates, and the diverse financial needs of individuals. When preparing for a client's retirement, we delve into a variety of topics, including effective retirement savings plans, investment strategies tailored to different life stages, and risk management techniques to safeguard your future.
We also examine the impact of current market trends and demographic shifts on retirement planning, offering insights into how these factors may influence your financial decisions. Our goal is to equip you with the knowledge and tools necessary to make informed choices that align with your long-term objectives.
Making the Most of Your Retirement Savings
Carefully managing distributions from your portfolio during retirement can help you save on taxes, leaving you more money to spend and enjoy.
Are You Prepared for Retired Life?
Your retirement has the potential to be the most fulfilling period of your life–but you need to have a plan for your time as well as your finances.
How Insurance Can Help with Retirement Planning
Insurance isn't just for supporting dependents if something happens to you. It can also be part of a long-term retirement strategy.
4 Financially Smart Ways to Take Money Out of Retirement Accounts
Discover how planning for required minimum distributions from retirement accounts can help you fund future needs and support loved ones.
Tax-Smart Strategies for Your Retirement
Smart tax planning can help you save more for retirement and keep more of what you've already saved. Consider these tax-efficient retirement planning strategies.
6 Money Moves to Make in the Decade Before Retirement
As retirement approaches, you'll want to have a clear understanding of what your financial needs are and if there's room for improvement.
Modern Wealth Tools & Resources
Morgan Stanley's comprehensive suite of digital resources has been carefully designed to help enhance each and every aspect of your financial portfolio and life. Learn more about some of the Modern Wealth Management Tools that we offer to our valued clients.
Morgan Stanley Online
Beyond viewing your account balance and activity, Morgan Stanley Online (MSO) has a suite of features that allow you to manage your everyday finances from paying bills and sending money to transferring funds and authorizing transactions with eAuthorizations.
Spending and Budgeting Tool
Track spending habits, categorize expenses and create budgets across your Morgan Stanley and external financial accounts with our Spending and Budgeting Tool.
Total Wealth View
View all your external financial accounts directly in Morgan Stanley Online or the mobile app. By linking your accounts, you'll benefit from more informed wealth planning, secure data access and convenient connectivity.
Digital Vault
Digital Vault allows for easy sharing and convenient access to your most important documents from wills and deeds to financial statements and tax fillings. Easily manage your encrypted financial records all in one place.
eDelivery
eDelivery provides you with the ability to view statements and other documents electronically in lieu of paper. Clients who are registered in Morgan Stanley Online may enroll in eDelivery.
Family Office Resources
Morgan Stanley Family Office Resources provides specialized, technical expertise to select clients across a broad range of family wealth management issues. Our core capabilities span three complimentary areas of focus including Governance & Legacy, Wealth Strategies and Signature Access.
MS Reserved
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's most valued clients. The program is designed to enhance your lifestyle and relationship with the firm beyond traditional wealth management services.
Cyber Security Resources
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
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.
GIC On the Markets
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
GIC Weekly
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
2025 Federal Tax Tables
This document outlines the 2025 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information.
Location
15341 S 94th Ave
Suite 200
Orland Park, IL 60462
US
Direct:
(708) 226-5453(708) 226-5453
2211 York Road
Suite 100
Oak Brook, IL 60523
US
Meet The Smith Wealth Management Group
Taylor dePenaloza, CFP®
First Vice President, Financial Advisor
Phone:
(708) 226-5454(708) 226-5454
Austin Smith, CFP®
Financial Advisor, Financial Planning Specialist
Phone:
(708) 226-5462(708) 226-5462
Austin Smith
Morgan Stanley Associate in the Financial Advisor Associate Program
Phone:
(708) 226-5462(708) 226-5462
Judy Severino
Client Service Associate
Phone:
(708) 226-5448(708) 226-5448
About Me
David Smith rejoined Morgan Stanley in 2025, bringing with him over four decades of experience as a Financial Advisor. His career began at Morgan Stanley in 1983, where he spent 25 years honing his skills before moving his team to UBS. Now back at Morgan Stanley, David leverages his extensive experience to guide clients through the complexities of financial markets. He has successfully navigated clients through significant market events, including the crashes of 1987 and 2008, the bull market of the 1990s, and the tech bubble of 2000. His ability to provide calm counsel and strategic thinking has been crucial in helping clients maintain focus on their long-term goals, even amidst economic uncertainty and evolving tax policies across five Presidential administrations.
David is committed to continuous learning and professional development. He holds the Chartered Retirement Planning Counselor™ (CRPC®) designation and has completed Wealth Advisor training at the prestigious Wharton School of Business at the University of Pennsylvania. His academic foundation in finance was established with a B.B.A. in Accounting from the University of Notre Dame.
Beyond his professional achievements, David is deeply committed to his community. In 1996, he founded a holiday giving program in collaboration with local Chicago schools, which provides clothes and toys to hundreds of families in need each year. David and his wife, Julie, reside in Flossmoor, where they have raised their three children.
David is committed to continuous learning and professional development. He holds the Chartered Retirement Planning Counselor™ (CRPC®) designation and has completed Wealth Advisor training at the prestigious Wharton School of Business at the University of Pennsylvania. His academic foundation in finance was established with a B.B.A. in Accounting from the University of Notre Dame.
Beyond his professional achievements, David is deeply committed to his community. In 1996, he founded a holiday giving program in collaboration with local Chicago schools, which provides clothes and toys to hundreds of families in need each year. David and his wife, Julie, reside in Flossmoor, where they have raised their three children.
Securities Agent: WI, FL, TX, NV, KY, IN, MA, MO, AZ, CO, CA, PA, OH, KS, UT, NM, NJ, VT, MI, IL, SD, MD; General Securities Representative; Investment Advisor Representative; Managed Futures
About Me
As a Financial Advisor at Morgan Stanley, Taylor dePenaloza is dedicated to helping individuals and families achieve their financial goals through comprehensive planning and investment management. Taylor joined Morgan Stanley in 2025, bringing with her a decade of experience from her previous role at UBS, where she was a Financial Advisor financial planning specialist for the Chicago complex. Before her tenure at UBS, Taylor worked at Nuveen Investments.
Taylor is a CERTIFIED FINANCIAL PLANNER®™ and holds the Certified Divorce Financial Analyst® designation, underscoring her commitment to professional excellence and client service. She earned her B.A. in Economics and Strategic Communication from Miami University.
Outside of her professional responsibilities, Taylor is actively involved in her community. She previously served on the Junior Board of Youth Guidance; a local organization dedicated to the advancement of at-risk youth. Taylor resides in La Grange with her husband Patrick and their two daughters, Lily and Zoey.
Taylor is a CERTIFIED FINANCIAL PLANNER®™ and holds the Certified Divorce Financial Analyst® designation, underscoring her commitment to professional excellence and client service. She earned her B.A. in Economics and Strategic Communication from Miami University.
Outside of her professional responsibilities, Taylor is actively involved in her community. She previously served on the Junior Board of Youth Guidance; a local organization dedicated to the advancement of at-risk youth. Taylor resides in La Grange with her husband Patrick and their two daughters, Lily and Zoey.
Securities Agent: NJ, CA, MO, FL, UT, NM, WI, OH, NV, MD, IL, CO, AZ, TX, VT, KY, KS, SD, PA, NY, MI, MA, IN; General Securities Representative; Investment Advisor Representative
About Austin Smith
Securities Agent: ME, AR, WV, KS, IA, WI, SD, PA, OR, NJ, MA, KY, CT, AZ, NH, NE, MT, FL, AL, VT, MI, LA, IN, GA, CA, MO, UT, TN, SC, PR, OK, HI, RI, ND, ID, AK, WY, WA, VI, NV, NC, MS, MN, IL, DE, DC, CO, VA, OH, NY, NM, MD, TX; General Securities Representative; Investment Advisor Representative
About Austin Smith
Securities Agent: ME, AR, WV, KS, IA, WI, SD, PA, OR, NJ, MA, KY, CT, AZ, NH, NE, MT, FL, AL, VT, MI, LA, IN, GA, CA, MO, UT, TN, SC, PR, OK, HI, RI, ND, ID, AK, WY, WA, VI, NV, NC, MS, MN, IL, DE, DC, CO, VA, OH, NY, NM, MD, TX; General Securities Representative; Investment Advisor Representative
About Judy Severino
Judy Severino joins Morgan Stanley as a dedicated Client Service Associate, bringing over 30 years of industry experience. Her tenure of more than 20 years with the Smith Wealth Management Group has allowed her to cultivate a profound understanding of each client's unique needs and expectations. Judy is passionate about building and nurturing strong relationships with clients and their families, consistently seeking innovative ways to enhance these connections and provide exceptional service.
In her role, Judy is responsible for overseeing daily client activities, which include managing cash flows, coordinating client reviews, and responding to general inquiries. Her meticulous attention to detail and commitment to client satisfaction helps ensure that each client receives personalized and attentive service.
Judy and her husband, Phil, reside in Valparaiso, Indiana, where they have raised four children and a growing number of grandchildren.
In her role, Judy is responsible for overseeing daily client activities, which include managing cash flows, coordinating client reviews, and responding to general inquiries. Her meticulous attention to detail and commitment to client satisfaction helps ensure that each client receives personalized and attentive service.
Judy and her husband, Phil, reside in Valparaiso, Indiana, where they have raised four children and a growing number of grandchildren.
Contact David Smith
Contact Taylor dePenaloza
Contact Austin Smith
Wealth Management
Global Investment Office
Portfolio Insights
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
Rational Investing in an Age of Uncertainty
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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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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Ready to start a conversation? Contact The Smith Wealth Management 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 Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Alternative 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.
4When 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.
5Investors 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.
6Morgan 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.
7Morgan 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
8Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
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 Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3Alternative 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.
4When 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.
5Investors 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.
6Morgan 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.
7Morgan 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
8Structured Investments are complex and not appropriate for all investors. An investment in structured investments involves risks. These risks can include but are not limited to: fluctuations in the price, level or yield of underlying asset(s), interest rates, currency values and credit quality, substantial loss of principal, limits on participation in appreciation of underlying asset(s), limited liquidity, credit risk, and/or conflicts of interest. Many structured investments do not pay interest or guarantee a return above principal at maturity. Investors should read the security’s offering documentation prior to making an investment decision.
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.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
