James M Spiro
Managing Director, Wealth Management, Financial Advisor
Phone:
(504) 585-3905(504) 585-3905
The Spiro Group at Morgan Stanley
Direct:
(504) 585-3977(504) 585-3977
Toll-Free:
(800) 227-6121(800) 227-6121
Our Mission Statement
We aspire to be the Financial Advisors of which we, ourselves, would want to be clients.
Welcome
No one would dispute that the right next move in today’s Markets can be a challenge, often a daunting one. But the right financial advice can help you weather the unknowns of today, enabling you to make the more informed choices that will help you to reach your financial goals of tomorrow. Our Group is committed to understanding your financial goals and providing personalized, hands-on financial advice, based strictly on your individual needs. As we have done with literally thousands before you, we can help you to avoid being distracted by the short-term challenges that cause so many to disturb their Portfolios, ultimately harming their investment results, so you can stay focused on making the right moves toward reaching your long-term goals.
With over $3 billion in assets under management*, The Spiro Group at Morgan Stanley has 150+ years combined experience managing money for high net worth individuals and Institutions. The Spiro Group focuses on equity research, portfolio hedging strategies and new business planning development.
Jim Spiro, Managing Director-Wealth Management, heads the Group that has maintained a continuous commitment to long-term client relationships, exceptional client service, and assistance in achieving financial objectives. For more information on Jim and the rest of The Spiro Group, please scroll down to the "Meet the Spiro Group" section on this page.
Jim has been named to Barron’s Top 1,200 Advisor list yearly since 2014. The Spiro Group was also named to the Forbes America's Top Wealth Management Teams from 2022 - 2024 along with Forbes Best In State Wealth Management Team for 2022 - 2025. Additionally, Jim is and has been the financial correspondent for the New Orleans Fox News affiliate for the past seven years, a link to some of his appearances, and other videos we hope you find interesting and/or helpful is below.
If you share our philosophy towards true wealth creation, feel free to contact us for a complimentary initial consultation to discuss your financial goals.
"2022-2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2022-2025). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award. "
Forbes America’s Top Wealth Management Teams
Source: Forbes.com (Awarded Nov 2022 - 2024) Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
2014-2025 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (2014-2025). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
*As of 01/01/2025
With over $3 billion in assets under management*, The Spiro Group at Morgan Stanley has 150+ years combined experience managing money for high net worth individuals and Institutions. The Spiro Group focuses on equity research, portfolio hedging strategies and new business planning development.
Jim Spiro, Managing Director-Wealth Management, heads the Group that has maintained a continuous commitment to long-term client relationships, exceptional client service, and assistance in achieving financial objectives. For more information on Jim and the rest of The Spiro Group, please scroll down to the "Meet the Spiro Group" section on this page.
Jim has been named to Barron’s Top 1,200 Advisor list yearly since 2014. The Spiro Group was also named to the Forbes America's Top Wealth Management Teams from 2022 - 2024 along with Forbes Best In State Wealth Management Team for 2022 - 2025. Additionally, Jim is and has been the financial correspondent for the New Orleans Fox News affiliate for the past seven years, a link to some of his appearances, and other videos we hope you find interesting and/or helpful is below.
If you share our philosophy towards true wealth creation, feel free to contact us for a complimentary initial consultation to discuss your financial goals.
"2022-2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded 2022-2025). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award. "
Forbes America’s Top Wealth Management Teams
Source: Forbes.com (Awarded Nov 2022 - 2024) Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
2014-2025 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (2014-2025). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
*As of 01/01/2025
Services Include
- Wealth ManagementFootnote1
- Municipal BondsFootnote2
- Exchange Traded FundsFootnote3
- Donor Advised Funds
- Corporate BondsFootnote4
- Financial PlanningFootnote5
- Retirement PlanningFootnote6
- 401(k) Rollovers
- Certificates of DepositFootnote7
- Cash Management and Lending ProductsFootnote8
- Trust AccountsFootnote9
- 529 PlansFootnote10
- Qualified Retirement PlansFootnote11
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
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Location
1100 Poydras St
Ste 1900
New Orleans, LA 70163
US
Direct:
(504) 585-3977(504) 585-3977
Toll-Free:
(800) 227-6121(800) 227-6121
Fax:
(504) 208-3465(504) 208-3465
Meet The Spiro Group
David K. Butscher
Executive Director, Wealth Management, Financial Advisor
Phone:
(504) 585-3972(504) 585-3972
Romi Gonzalez
Senior Vice President, Financial Advisor, Family Wealth Director
Phone:
(504) 585-3991(504) 585-3991
Marc H. Miller
Senior Vice President, Wealth Management, Financial Advisor, Investment Management Consultant
Phone:
(504) 585-3956(504) 585-3956
Michael L Gagliardi
First Vice President, Wealth Management, Financial Advisor, Portfolio Manager
Phone:
(504) 585-3981(504) 585-3981
J.P. Gebbia
Portfolio Associate
Phone:
(504) 585-3973(504) 585-3973
Emile Louapre
Portfolio Associate
Phone:
(504) 585-3977(504) 585-3977
About James M Spiro
Jim Spiro, Managing Director - Wealth Management, Financial Advisor, entered the industry in 1984. As a licensed investment professional, Jim leads The Spiro Group in implementing wealth-management strategies for high and ultra-high net worth clients through effective portfolio management, managing over $2.7 billion dollars, as of January, 2022. A graduate of Wesleyan University, Jim furthered his educational training with a Masters in Business Administration from Tulane University’s A.B. Freeman School of Business, where he was inducted into Beta Gamma Sigma, a nationally-recognized honor Society whose members receive admission only for academic excellence.
Jim focuses on equity research, portfolio hedging strategies and new business planning development. The Spiro Group, under Jim’s leadership, has maintained a continuous commitment to long-term client relationships, exceptional client service and assistance in achieving financial objectives.
Although the name of the parent company has changed due to acquisitions and divestitures many times over the years, Jim is highly unusual in the industry in that he has never changed firms, not once, in 35 years. All these years later, to this very day, he still gets a high internal level of satisfaction knowing that what he does makes a profound impact on others—he enjoys his work and believes that will always be the case.
Jim has been named a 2014, 2015, 2017 - 2021 Financial Times Top 400 Financial Advisor, and was listed in the 2014 -2022 Barron’s Top 1,200 Advisor Directory. All three are among the most respected publications in the industry.
2017-2021 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2017-2021). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
2014, 2015, 2017 - 2021 Financial Times 400 Top Financial Advisors
Source: ft.com. Data compiled by the Financial Times based the following time periods:
Awarded 2021, Awarded 2020; data 6/30/16 - 6/30/19
Awarded 2019; data 6/30/15 - 6/30/18
Awarded 2018; data 6/30/15 - 6/30/17
Awarded 2017; data 9/30/14 - 9/30/16
Awarded 2015; data 9/30/13 - 9/30/14
Awarded 2014; data 9/30/12 - 9/30/13
Jim focuses on equity research, portfolio hedging strategies and new business planning development. The Spiro Group, under Jim’s leadership, has maintained a continuous commitment to long-term client relationships, exceptional client service and assistance in achieving financial objectives.
Although the name of the parent company has changed due to acquisitions and divestitures many times over the years, Jim is highly unusual in the industry in that he has never changed firms, not once, in 35 years. All these years later, to this very day, he still gets a high internal level of satisfaction knowing that what he does makes a profound impact on others—he enjoys his work and believes that will always be the case.
Jim has been named a 2014, 2015, 2017 - 2021 Financial Times Top 400 Financial Advisor, and was listed in the 2014 -2022 Barron’s Top 1,200 Advisor Directory. All three are among the most respected publications in the industry.
2017-2021 Barron's Top 1,200 Financial Advisors: State-by-State (formerly referred to as Barron's Top 1,000 Financial Advisors: State-by-State)
Source: Barrons.com (Awarded 2017-2021). Data compiled by Barron's based on 12-month period concluding in Sept of the year prior to the issuance of the award.
2014, 2015, 2017 - 2021 Financial Times 400 Top Financial Advisors
Source: ft.com. Data compiled by the Financial Times based the following time periods:
Awarded 2021, Awarded 2020; data 6/30/16 - 6/30/19
Awarded 2019; data 6/30/15 - 6/30/18
Awarded 2018; data 6/30/15 - 6/30/17
Awarded 2017; data 9/30/14 - 9/30/16
Awarded 2015; data 9/30/13 - 9/30/14
Awarded 2014; data 9/30/12 - 9/30/13
Securities Agent: RI, SC, NM, NJ, NC, CO, PA, TX, UT, TN, WA, WI, FL, WV, IA, IL, HI, KS, KY, LA, OK, WY, DE, MI, MO, VA, MS, NE, SD, ME, OR, NH, OH, NY, NV, CA, MD, DC, AZ, MN, MA, IN, GA, CT, AR, AL, AK, ND; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1279319
NMLS#: 1279319
About David K. Butscher
David K. Butscher, Financial Advisor, is both an Executive Director and Portfolio Manager with Morgan Stanley. He has been a member of the firm and its predecessors since 1991.
While attending Tulane University, David joined Jim Spiro to form The Spiro Group. The two have worked together for over 30 years. He currently concentrates his efforts on assembling taxable and tax-free fixed-income portfolios for the group. Additionally, he oversees the majority of institutional relationships for the group, covering corporate cash management, Trust Departments and Insurance Company clientele.
A graduate of Tulane University’s A.B. Freeman School of Business, David is a lifelong resident of the greater New Orleans area. David served as president of the Delachaise Neighborhood Association and was instrumental in neighborhood planning after Hurricane Katrina. He enjoys travel and is an avid tennis player. He is an active member of the American Saddlebred Horse Association, stemming from his daughter’s love of equestrian riding. He currently lives in Uptown New Orleans with his wife and two daughters.
While attending Tulane University, David joined Jim Spiro to form The Spiro Group. The two have worked together for over 30 years. He currently concentrates his efforts on assembling taxable and tax-free fixed-income portfolios for the group. Additionally, he oversees the majority of institutional relationships for the group, covering corporate cash management, Trust Departments and Insurance Company clientele.
A graduate of Tulane University’s A.B. Freeman School of Business, David is a lifelong resident of the greater New Orleans area. David served as president of the Delachaise Neighborhood Association and was instrumental in neighborhood planning after Hurricane Katrina. He enjoys travel and is an avid tennis player. He is an active member of the American Saddlebred Horse Association, stemming from his daughter’s love of equestrian riding. He currently lives in Uptown New Orleans with his wife and two daughters.
Securities Agent: NM, TX, SD, UT, SC, OR, OK, NC, MA, RI, NV, OH, WI, VA, MO, MN, WY, ND, NE, NJ, WA, WV, TN, PA, AK, HI, CO, CT, NY, DC, FL, NH, GA, MS, IA, IL, MI, ME, LA, MD, KY, KS, IN, DE, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1279626
NMLS#: 1279626
About Romi Gonzalez
Romi Gonzalez, III, Family Wealth Director, Senior Vice President, is a registered investment professional who joined The Spiro Group in 1996, serving the group’s highest net worth clients and corporations. Romi is a member of a select group of fewer than 2% of Morgan Stanley Financial Advisors who have completed the rigorous Family Wealth Director (FWD) certification program. Building on his experience working with ultra-high net worth families the training received enables him to better assist our clients in a broad spectrum of wealth management areas including:
- Business succession planning and monetizing business ownership
- Alternative investments
- Equity and Interest rate risk management strategies
- Wealth transfer strategies
- Family Governance and Dynamics
- Philanthropic Services
His goal is to serve as a Financial Advisor, helping clients to preserve their legacy, maintain their lifestyle and support the people, causes and institutions that add meaning to their lives.
Romi is quite active in the local community, having played a key role in establishing a charter school in New Orleans in 2004, serving as chairman of the founding board. He also is a member of the New Orleans Estate Planning Council, which has been recognized as a 5-Star Council by the National Association of Estate Planners & Councils. This honor was awarded to the NOEPC in 2015 and 2016.
Romi attended the University of the South at Sewanee, TN and earned a Bachelor of Science in Management degree from A.B. Freeman School of Business at Tulane University in New Orleans. Romi and his family enjoy living in the Coliseum Square neighbor of New Orleans.
- Business succession planning and monetizing business ownership
- Alternative investments
- Equity and Interest rate risk management strategies
- Wealth transfer strategies
- Family Governance and Dynamics
- Philanthropic Services
His goal is to serve as a Financial Advisor, helping clients to preserve their legacy, maintain their lifestyle and support the people, causes and institutions that add meaning to their lives.
Romi is quite active in the local community, having played a key role in establishing a charter school in New Orleans in 2004, serving as chairman of the founding board. He also is a member of the New Orleans Estate Planning Council, which has been recognized as a 5-Star Council by the National Association of Estate Planners & Councils. This honor was awarded to the NOEPC in 2015 and 2016.
Romi attended the University of the South at Sewanee, TN and earned a Bachelor of Science in Management degree from A.B. Freeman School of Business at Tulane University in New Orleans. Romi and his family enjoy living in the Coliseum Square neighbor of New Orleans.
Securities Agent: NY, WA, TN, DE, KY, NH, MS, IA, WY, WV, WI, VA, UT, TX, SD, SC, RI, PA, OR, OK, OH, NV, NM, NJ, NE, ND, NC, MO, MN, MI, ME, MD, MA, LA, KS, IN, IL, HI, GA, FL, DC, CT, CO, CA, AZ, AR, AL, AK; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1279056
NMLS#: 1279056
About Marc H. Miller
Marc H. Miller, Senior Vice President, joined The Spiro Group in 1994. Marc concentrates on both fixed-income management and securities research for the group’s high net-worth clients. In addition to his bond trading and research duties, Marc handles a range of operational and administrative functions for the group. In addressing these matters locally, Marc helps the group obviate the need to seek solutions from Morgan Stanley’s base in New York. Unquestionably, streamlining this process has increased client satisfaction meaningfully, ensuring that the group’s clients receive the “white glove” service they expect and deserve. Combining both a trading and operational background, Marc serves a unique role for The Spiro Group.
After moving to the New Orleans area from New Jersey over 30 years ago, Marc attended the A.B. Freeman School of Business at Tulane University, where he earned joint degrees in both Finance and Economics. Just like Jim, David, and Romi, he has been with the same firm (although it has changed names a few times) since he began in the industry. Marc and his three daughters, two dogs, two cats—and a constantly changing number of fish—currently reside in Metairie.
After moving to the New Orleans area from New Jersey over 30 years ago, Marc attended the A.B. Freeman School of Business at Tulane University, where he earned joint degrees in both Finance and Economics. Just like Jim, David, and Romi, he has been with the same firm (although it has changed names a few times) since he began in the industry. Marc and his three daughters, two dogs, two cats—and a constantly changing number of fish—currently reside in Metairie.
Securities Agent: MD, MO, NV, OR, WY, SD, VA, WV, WI, WA, UT, TX, TN, SC, RI, PA, OK, OH, NY, NM, NJ, NH, NE, ND, NC, MS, MN, MI, ME, MA, LA, KY, IN, IL, IA, HI, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL, AK, KS; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1265309
NMLS#: 1265309
About Michael L Gagliardi
Michael L. Gagliardi, First Vice President, and Financial Advisor, is a registered investment professional who joined Morgan Stanley Smith Barney in 2006, having worked in the financial services industry since 1999.
He is a graduate of St. Lawrence University in Canton, New York. Michael left a successful career in the financial services industry in New York after meeting his wife, a Louisiana native, and moving to the Greater New Orleans Area. Michael focuses on creating and managing customized portfolios for high net-worth clients. By combining in-depth financial analysis with personalized advice, clients receive comprehensive wealth planning tailored to their specific specifications. Michael is dedicated to helping clients reach their financial goals whatever those objectives might be.
Michael is an automotive, motorcycle, and boating enthusiast who enjoys spending as much time outdoors as possible. When it comes to sports, Michael’s northern roots were transplanted down south. While Michael enjoys college football and Saints games, his true sports passion is armchair coaching NHL hockey and NCAA lacrosse games. In an effort to develop the sport of lacrosse in Louisiana, Michael became the director and coach for Team Louisiana Lacrosse, an organization that teaches the game to children ages 6-17. He was instrumental in establishing Grow the Game – Louisiana Lacrosse, a non-profit entity with its mission to provide opportunities for competitive lacrosse play throughout Louisiana and the Gulf South. Michael lives in Mandeville with his wife, Mandy, and their two children.
He is a graduate of St. Lawrence University in Canton, New York. Michael left a successful career in the financial services industry in New York after meeting his wife, a Louisiana native, and moving to the Greater New Orleans Area. Michael focuses on creating and managing customized portfolios for high net-worth clients. By combining in-depth financial analysis with personalized advice, clients receive comprehensive wealth planning tailored to their specific specifications. Michael is dedicated to helping clients reach their financial goals whatever those objectives might be.
Michael is an automotive, motorcycle, and boating enthusiast who enjoys spending as much time outdoors as possible. When it comes to sports, Michael’s northern roots were transplanted down south. While Michael enjoys college football and Saints games, his true sports passion is armchair coaching NHL hockey and NCAA lacrosse games. In an effort to develop the sport of lacrosse in Louisiana, Michael became the director and coach for Team Louisiana Lacrosse, an organization that teaches the game to children ages 6-17. He was instrumental in establishing Grow the Game – Louisiana Lacrosse, a non-profit entity with its mission to provide opportunities for competitive lacrosse play throughout Louisiana and the Gulf South. Michael lives in Mandeville with his wife, Mandy, and their two children.
Securities Agent: MO, NV, OR, WY, SD, KS, MD, WV, WI, WA, VA, UT, TX, TN, SC, RI, PA, OK, OH, NY, NM, NJ, NH, NE, ND, NC, MS, MN, MI, ME, MA, LA, KY, IN, IL, IA, HI, GA, FL, DE, CT, CO, CA, AZ, AR, AL, AK, DC; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1279225
NMLS#: 1279225
About J.P. Gebbia
J.P. Gebbia, Portfolio Associate, joined The Spiro Group in 2011, bringing over seven years of previous global wealth management and financial investment experience. He focuses on client service, marketing, and financial analytics, and he has earned investment adviser and securities broker Series 7 & Series 66 licensing credentials. J.P. earned a Master’s degree in Finance from Tulane University’s A.B. Freeman School of Business in 2004 and a Bachelor of Science degree in Finance from Fordham University in New York in 2003. J.P. enjoys traveling, the local food & art scene, and he and his family live in the Algiers Point neighborhood of New Orleans.
About Emile Louapre
Emile joined The Spiro Group in 2014. He graduated from the University of Colorado in 2003 with a bachelor's in Political Science and Mathematics. As a Series 7, 66 and 63 General Securities Representative, he brings over eight years of client service experience involving securities products. Emile is a multi-talented musician who also enjoys the New Orleans restaurant scene, exercise, and travel. He lives in Gentilly and has a rescue dog named Alfie.
Contact James M Spiro
Contact David K. Butscher
Contact Romi Gonzalez
Contact Marc H. Miller
Contact Michael L Gagliardi
Wealth Management
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- 401(k) Rollovers
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Tax-Smart Strategies for Your Retirement
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Strategies to Finance Your Business
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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 Spiro Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Municipal 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.
3An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
4Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
5Morgan 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.
6When 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.
7Investors 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.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Morgan 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.
10Investors 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.
11When 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
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 Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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.
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For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Municipal 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.
3An investment in an exchange-traded fund (ETF) involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate, so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Investors should carefully consider the investment objectives, risks, charges and expenses of an exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the ETF. To obtain a prospectus, contact your Financial Advisor or visit the ETF company’s website. Please read the prospectus carefully before investing.
4Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
5Morgan 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.
6When 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.
7Investors 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.
8Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
9Morgan 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.
10Investors 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.
11When 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.
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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 Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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
CRC 6491812 (04/2024)
