John D Spooner
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director
Phone:
(617) 589-3234(617) 589-3234
The Spooner Group at Morgan Stanley
(617) 589-3234(617) 589-3234
Toll-Free:
(800) 752-2678(800) 752-2678
Our Mission Statement
The Spooner Group
Named to Forbes Magazine -
BEST IN STATE
Wealth Management Team in Boston 2025
Named to Forbes Magazine -
BEST IN STATE
Wealth Management Team in Boston 2025
WELCOME TO THE SPOONER GROUP
Our Mission Statement
We do not believe in "one size fits all." We strive to customize our portfolios to suit each individual's personal situation. Practical advice and counsel about money and life issues is what we do.
Our Story
We at the Spooner Group run an old fashioned business. Old fashioned in the sense that we do not merely manage people's money, we provide advice and counsel on both money and life to our clients from all over the globe, from Bangkok to London, from Paris to Rome to Shanghai, and of course, throughout America.
We try to educate our far flung clients, in looking around themselves in more creative ways, being our eyes and ears for trends they may observe, in retail or technology or entertainment, products or services they may enjoy or appreciate. These observations keep our clients on their toes and help us hopefully to see and hear real life experiences, not just research reports on the screen.
We do not farm out the investment of your money to outside managers except for the clients who we believe would benefit from exposure to tax free municipal bonds. We use several bond managers who we believe would serve our clients well; seasoned managers with long experience in the field.
We invest in common stocks and ETF's for our clients and for ourselves as well. And we are contrarians, trying to find value in areas that are out of favor and that, in our opinion, will serve us well when attitudes change. Very often, markets give us a long time to accumulate what we think are cheap assets. We are long term thinkers and holders, not traders with short term in mind. We feel that the accumulation of wealth, whether in real estate, art, or stocks, is done with the long view in mind, not next week or month.
This is a business that never sleeps and we understand that. We view our jobs as attempting to get all of our clients to that sleeping point where, when they wake at 3AM worrying about all kinds of things, that money worries are not part of that wakeful process. Good counselors, which we try to be, are focused on our client's long term goals.
We welcome the opportunity to add value to your lives in many ways.
Services Include
- Wealth ManagementFootnote1
- Wealth Consulting
- Professional Portfolio ManagementFootnote2
- Business Succession PlanningFootnote3
- Stock Plan ServicesFootnote4
- Stock Option PlansFootnote5
- AnnuitiesFootnote6
- Corporate BondsFootnote7
- Municipal BondsFootnote8
- Certificates of DepositFootnote9
- Cash Management and Lending ProductsFootnote10
- Retirement PlanningFootnote11
- 401(k) Rollovers
- Corporate Retirement PlansFootnote12
- Estate Planning StrategiesFootnote13
- Trust AccountsFootnote14
- Donor Advised Funds
- Planning for Individuals with Special Needs
- LGBT+ Planning ServicesFootnote15
- 529 PlansFootnote16
- UGMA/UTMAFootnote17
- Alternative InvestmentsFootnote18
- Foreign ExchangeFootnote19
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Your Life Is Our Plan
Financial Planning
Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our award winning tools- Goals Planning System (GPS) and LifeView.
Morgan Stanley Goals-Based Wealth Management
Socially Responsible Investing
Our Investing with Impact platform has designed a proprietary process to identify your impact priorities and match them with one of our 360+ investment strategies or customizable portfolio solutions across asset classes, to tailor your portfolio and monitor both financial and impact results over time.
Morgan Stanley Investing with Impact
Investment Advisory
Manage your investments within a holistic advisory relationship and take advantage of integrated tax, risk management and estate planning benefits across your entire wealth strategy—backed by leading insights and one of the financial industry's most comprehensive, multi-award-winning advisory platforms.
Donor Advised Funds (DAF)
A solution that may help you execute planned giving, offer an efficient way to donate complex and illiquid assets, and simplify charitable giving reporting while potentially mitigating taxes. Bring philanthropy into your wealth plan and help amplify the impact of your giving through the Morgan Stanley Global Impact Funding Trust (MS GIFT).
MS GIFT
529 Education Savings Plans
529 plans offer a flexible, tax-advantaged way to invest for education expenses while helping to improve estate planning. Gain fiduciary oversight of your education funding strategy within the context of your broader portfolio through the exclusive Morgan Stanley National Advisory 529 Plan.
529 Plan Options at Morgan Stanley
Structured Investments
Customized investment strategies —such as yield enhancement strategies and risk mitigation strategies —that serve as powerful allocation tools in modern portfolios.
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2025
2006, 2017, 2019-2022 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 2006, 2017, 2019-2022)
Data compiled by Barron's based on a 12-month period concluding in September of the year prior to the issuance of the award,
2018-2025 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2022)
Data compiled by SHOOK Research LLC based on a 12-month time period concluding in June of year prior to the issuance of the award.
2017-2025 Five Star Wealth Manager Award
Source: Fivestarprofessional.com (Awarded 2017-2025)
These awards were determined though an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods: 2017-2025
Source: Barrons.com (Awarded 2006, 2017, 2019-2022)
Data compiled by Barron's based on a 12-month period concluding in September of the year prior to the issuance of the award,
2018-2025 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2018-2022)
Data compiled by SHOOK Research LLC based on a 12-month time period concluding in June of year prior to the issuance of the award.
2017-2025 Five Star Wealth Manager Award
Source: Fivestarprofessional.com (Awarded 2017-2025)
These awards were determined though an evaluation process conducted by Five Star Professional, based on objective criteria, during the following periods: 2017-2025
The Spooner Group
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2025
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2024
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2023
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2024
The Spooner Group named to Forbes Magazine Best-In-State Wealth Management Team in Boston 2023
John D Spooner
John Spooner named to Forbes Magazine Best-In-State Wealth Advisors.
*** Awarded in - 2018, 2019, 2020, 2021, 2022
John Spooner named by Barron's as one of the top 1,200 Financial Advisors in America.
*** Awarded in - 2006, 2017, 2019, 2020, 2021, 2022
John Spooner named the #1 Best Financial Advisor in Boston by The Improper Boston Magazine
John Spooner received the Literary Lights Award from the Boston Public Library given to New England's Most Distinguished Authors
*** Awarded in - 2018, 2019, 2020, 2021, 2022
John Spooner named by Barron's as one of the top 1,200 Financial Advisors in America.
*** Awarded in - 2006, 2017, 2019, 2020, 2021, 2022
John Spooner named the #1 Best Financial Advisor in Boston by The Improper Boston Magazine
John Spooner received the Literary Lights Award from the Boston Public Library given to New England's Most Distinguished Authors
Scott Fabyan
Scott Fabyan named Five Star Wealth Manager by Boston Magazine.
*** Awarded In - 2012, 2013, 2014, 2015, 2017, 2020, 2021, 2022, 2023, 2024, 2025
*** Awarded In - 2012, 2013, 2014, 2015, 2017, 2020, 2021, 2022, 2023, 2024, 2025
David W Tobias
David Tobias named Five Star Wealth Manager by Boston Magazine.
*** Awarded In - 2012, 2013, 2014, 2015, 2017, 2020, 2021, 2022, 2023, 2024, 2025
*** Awarded In - 2012, 2013, 2014, 2015, 2017, 2020, 2021, 2022, 2023, 2024, 2025
Client Experience
We help people just like you, in various stages of life.
We understand that your specific circumstances may require unique solutions. No problem: we’ll work with you individually to develop detailed wealth plans and thoughtful strategies.
We understand that your specific circumstances may require unique solutions. No problem: we’ll work with you individually to develop detailed wealth plans and thoughtful strategies.
Our satisfied clients include:
- Business Owners (including family businesses)
- Corporate executives
- High net worth investors
- Mid-career professionals and their families
- Nonprofit organizations
- Seniors near or in retirement
Location
28 State Street
Floor 32
Boston, MA 02109
US
Direct:
(617) 589-3234(617) 589-3234
Toll-Free:
(800) 752-2678(800) 752-2678
Fax:
(617) 357-7519(617) 357-7519
Parking: 28 State St. Garage (Entrance on Congress St.)
28 State St.
Boston, MA 02109
US
Direct:
(617) 589-3234(617) 589-3234
Meet The Spooner Group
Scott Fabyan
Senior Vice President, Financial Advisor, Senior Portfolio Management Director
Phone:
(617) 589-3263(617) 589-3263
David W Tobias
Senior Vice President, Financial Advisor, Senior Portfolio Management Director
Phone:
(617) 589-3219(617) 589-3219
Felicia DiStasio
Group Director
Phone:
(617) 589-3364(617) 589-3364
Dan Linik
Client Service Associate
Phone:
(617) 589-3231(617) 589-3231
Nik Kiernan
Client Service Associate
Phone:
(617) 589-3232(617) 589-3232
Liz Mourousas
Client Service Associate
Phone:
(617) 589-3233(617) 589-3233
About John D Spooner
John has had two full time jobs his entire working life. He is a Managing Director, Wealth Management at Morgan Stanley and is the founder of The Spooner Group, based in Boston.
He has also been a full time professional writer for over fifty years, publishing five novels and eleven nonfiction books over six decades, starting in 1967, a number of them best sellers and Literary Guild Book of the Month Club selections.
He has been featured on the covers of both The Atlantic and Playboy, and has contributed to Esquire, Town and Country, Time Magazine, Business Week, the Boston Globe, and many more. He has also been a contributing editor to Worth Magazine, and was honored by The Boston Public Library with their ‘Literary Lights Award’ given to the most distinguished authors in New England.
His book, ‘No One Ever Told Us That-Money and Life: Letters to My Grandchildren’ was written as letters to his grandchildren; street smart advice on life and money for new graduates of college and graduate school. It was a Boston Globe #1 bestseller, and as high as #2 of Amazon of all business books in America. He recently completed a sequel to 'No One Ever Told Us That' sharing the same title, 'No One Ever Told Us That: Money and Life Lessons for Young Adults' which is targeted at the millennial generation. These books have been optioned by Hollywood to turn into a half-hour sitcom.
You can watch John discuss his recent book and other matters on TedX Talks on YouTube.
“We live in an increasingly anonymous world,” Spooner says, “with 330 million Americans. And eight billion people on the planet. In our business life we know that people long not to be anonymous, but want real relationships, not virtual ones.”
He adds, “We hope to provide creative, personal solutions for the investment side of your lives.”
He has also been a full time professional writer for over fifty years, publishing five novels and eleven nonfiction books over six decades, starting in 1967, a number of them best sellers and Literary Guild Book of the Month Club selections.
He has been featured on the covers of both The Atlantic and Playboy, and has contributed to Esquire, Town and Country, Time Magazine, Business Week, the Boston Globe, and many more. He has also been a contributing editor to Worth Magazine, and was honored by The Boston Public Library with their ‘Literary Lights Award’ given to the most distinguished authors in New England.
His book, ‘No One Ever Told Us That-Money and Life: Letters to My Grandchildren’ was written as letters to his grandchildren; street smart advice on life and money for new graduates of college and graduate school. It was a Boston Globe #1 bestseller, and as high as #2 of Amazon of all business books in America. He recently completed a sequel to 'No One Ever Told Us That' sharing the same title, 'No One Ever Told Us That: Money and Life Lessons for Young Adults' which is targeted at the millennial generation. These books have been optioned by Hollywood to turn into a half-hour sitcom.
You can watch John discuss his recent book and other matters on TedX Talks on YouTube.
“We live in an increasingly anonymous world,” Spooner says, “with 330 million Americans. And eight billion people on the planet. In our business life we know that people long not to be anonymous, but want real relationships, not virtual ones.”
He adds, “We hope to provide creative, personal solutions for the investment side of your lives.”
Securities Agent: RI, OH, UT, WI, DC, MI, NH, WY, WA, VT, VA, TX, TN, SC, PA, OR, OK, NY, NM, NJ, NC, MT, MS, ME, MD, MA, LA, IL, GA, FL, CT, CO, CA, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1253243
NMLS#: 1253243
About Scott Fabyan
Scott graduated from Babson College, the originator of entrepreneurial studies in American higher education. He majored in business and management and was a mainstay of the rugby team, helping to carry the team to its only undefeated season in school history.
Scott entered the business just before the crash of 1987, a perfect time to observe the fear and greed mentality of markets. And a great introduction to a very difficult business.
In his time outside of the office, Scott holds a 100 ton Master License with the US Coast Guard and is a licensed fishing captain. He spends much of his leisure time concentrating on ways to improve our oceans. He skis every weekend each winter and has even been known to raise chickens.
Scott would be happy to talk with you about financial planning or the best fishing spots in the world.
He has two children and lives on the North Shore of Boston and Carrabassett Valley, Maine.
Five Star Wealth Advisor Award
This award was issued in 2017. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria. The award was not based on a specific time period.
Scott entered the business just before the crash of 1987, a perfect time to observe the fear and greed mentality of markets. And a great introduction to a very difficult business.
In his time outside of the office, Scott holds a 100 ton Master License with the US Coast Guard and is a licensed fishing captain. He spends much of his leisure time concentrating on ways to improve our oceans. He skis every weekend each winter and has even been known to raise chickens.
Scott would be happy to talk with you about financial planning or the best fishing spots in the world.
He has two children and lives on the North Shore of Boston and Carrabassett Valley, Maine.
Five Star Wealth Advisor Award
This award was issued in 2017. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria. The award was not based on a specific time period.
Securities Agent: OH, NY, NM, NH, NC, MT, MI, ME, MD, MA, LA, IL, GA, FL, DC, CT, CO, CA, AZ, AR, AL, WA, WY, MS, VA, WI, UT, NJ, TX, TN, SC, OK, RI, PA, OR, VT; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1253105
NMLS#: 1253105
About David W Tobias
David joined The Spooner Group in 2000, after several years in practice and developing his own investment philosophy, finding his niche on the value side of the business. He has been a lifelong market student, pursuing ideas and research, first as a hobby and then realizing that it should be his lifetime pursuit.
David was trained as an architect at Harvard Graduate School of Design, after he graduated from the North Carolina State University. But a severe real estate recession in the early 1990’s put a huge damper on new construction, and he made the bold move to reinvent himself as a wealth manager. David is the epitome of working both sides of the brain and he adds enormous value to our old fashioned, caring, business approach. Old fashioned, yet modern at the same time.
David reads voraciously, is a strong mountain biker, tennis player, and has traveled extensively, bird watching in various exotic places.
David lives in Charlestown and Westport, MA. He and his wife, Liz, have two children.
Five Star Wealth Advisor Award
This award was issued in 2022. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria. The award was not based on a specific time period.
David was trained as an architect at Harvard Graduate School of Design, after he graduated from the North Carolina State University. But a severe real estate recession in the early 1990’s put a huge damper on new construction, and he made the bold move to reinvent himself as a wealth manager. David is the epitome of working both sides of the brain and he adds enormous value to our old fashioned, caring, business approach. Old fashioned, yet modern at the same time.
David reads voraciously, is a strong mountain biker, tennis player, and has traveled extensively, bird watching in various exotic places.
David lives in Charlestown and Westport, MA. He and his wife, Liz, have two children.
Five Star Wealth Advisor Award
This award was issued in 2022. The award was determined based on an evaluation process conducted by Five-Star Professional based on objective criteria. The award was not based on a specific time period.
Securities Agent: NJ, OH, NM, CO, MA, MT, MI, ME, OK, NY, PA, OR, UT, VT, VA, WY, WI, MD, CA, FL, GA, DC, LA, WA, TX, TN, SC, RI, NH, NC, MS, IL, CT, AZ, AR, AL; General Securities Representative; Investment Advisor Representative
NMLS#: 1262069
NMLS#: 1262069
About Felicia DiStasio
Felicia DiStasio has been with the Spooner Group for over nineteen years, and always goes the extra mile leading the team as Group Director. She is a third generation Morgan Stanley employee. Felicia maintains a great rapport with clients, offering the utmost in skilled experience.
She oversees the team’s day to day including onboarding and coaching our support professionals, servicing the team’s legacy and high net worth book of business, with a special emphasis on our international clients and practical problem solving. Her meticulous attention to detail helps her navigate even the most intricate trusts, estates, and complex retirement plans, effortlessly.
Felicia prides herself on the relationships she has made and knowledge she has cultivated over the years. She has an aptitude for identifying clients underlying needs and has a unique connection not only with our clients, but also her peers. And, according to John Spooner, “she is a born CEO”.
Felicia lives in East Boston, loves to travel, and cherishes her role as “Auntie” to her niece and nephews.
Felicia holds her SIE, Series 7, and Series 66 licenses.
She oversees the team’s day to day including onboarding and coaching our support professionals, servicing the team’s legacy and high net worth book of business, with a special emphasis on our international clients and practical problem solving. Her meticulous attention to detail helps her navigate even the most intricate trusts, estates, and complex retirement plans, effortlessly.
Felicia prides herself on the relationships she has made and knowledge she has cultivated over the years. She has an aptitude for identifying clients underlying needs and has a unique connection not only with our clients, but also her peers. And, according to John Spooner, “she is a born CEO”.
Felicia lives in East Boston, loves to travel, and cherishes her role as “Auntie” to her niece and nephews.
Felicia holds her SIE, Series 7, and Series 66 licenses.
About Dan Linik
Daniel has been a member of the Spooner Group since August 2016 and is a third generation Morgan Stanley employee. Proving once and for all that the apple doesn’t fall far from the tree.
A graduate of Bay State College, he obtained his Associate Degree in Entertainment Management in 2015. He enjoys traveling in and out of Massachusetts for music concerts and festivals. He also has worked shows with artists ranging from Willie Nelson to Slayer to Cher.
In addition to concerts, Daniel enjoys collecting vinyl. He has a vast and ever expanding collection that he has spent over a decade curating. He would be more than happy to chat with you about his rare finds, or how a double LP surely provides superior sound quality over a single LP. A proud cat Dad, Daniel is kept company by his loving tuxedo cats Marilyn and Randy.
More of a listener than motivational speaker, Daniel enjoys lending an ear to clients and friends alike. As life roars and thunders, Daniel strives for a live and let live attitude. His longevity with the Spooner Group is upheld by his ability to utilize both sides of the brain; a quintessential trait John Spooner seeks.
A graduate of Bay State College, he obtained his Associate Degree in Entertainment Management in 2015. He enjoys traveling in and out of Massachusetts for music concerts and festivals. He also has worked shows with artists ranging from Willie Nelson to Slayer to Cher.
In addition to concerts, Daniel enjoys collecting vinyl. He has a vast and ever expanding collection that he has spent over a decade curating. He would be more than happy to chat with you about his rare finds, or how a double LP surely provides superior sound quality over a single LP. A proud cat Dad, Daniel is kept company by his loving tuxedo cats Marilyn and Randy.
More of a listener than motivational speaker, Daniel enjoys lending an ear to clients and friends alike. As life roars and thunders, Daniel strives for a live and let live attitude. His longevity with the Spooner Group is upheld by his ability to utilize both sides of the brain; a quintessential trait John Spooner seeks.
About Nik Kiernan
Nik has been a member of The Spooner Group since 2019. Before joining the Spooner Group, Nik spent eight years working on the banking side of the industry specializing in exception management and customer service. He has carried over these abilities along with his attention to detail, his diligence when working to evaluate his clients’ needs, and his understanding of the investment world.
Nik graduated with a Bachelor of Science in Economics and lives in Charlestown, MA
When he is not in the office, you may find him running along the Esplanade, playing tennis in the Charlestown Navy Yard or traveling with family and friends.
Nik graduated with a Bachelor of Science in Economics and lives in Charlestown, MA
When he is not in the office, you may find him running along the Esplanade, playing tennis in the Charlestown Navy Yard or traveling with family and friends.
About Liz Mourousas
Liz joined The Spooner Group in June 2022. Her presence to the team brings forward skills that include establishing client relationships, monitoring accounts, addressing issues in a timely manner and most importantly, her due diligence in putting the clients’ needs first.
Liz received her Bachelor’s Degree in Business Management from the University of Massachusetts Dartmouth. She has a sales background in which she has developed her skills in working closely to assess and understand her clients’ needs.
Liz became involved in Martial Arts in her childhood years, eventually training and giving her the important outlook in life of practicing self-confidence and self-discipline in every aspect of our lives. In her free time, Liz enjoys spending time with her fiancee and their dog, Arya, trying out new recipes in the kitchen, and creating different styles of artwork.
Liz received her Bachelor’s Degree in Business Management from the University of Massachusetts Dartmouth. She has a sales background in which she has developed her skills in working closely to assess and understand her clients’ needs.
Liz became involved in Martial Arts in her childhood years, eventually training and giving her the important outlook in life of practicing self-confidence and self-discipline in every aspect of our lives. In her free time, Liz enjoys spending time with her fiancee and their dog, Arya, trying out new recipes in the kitchen, and creating different styles of artwork.
Contact John D Spooner
Contact Scott Fabyan
Contact David W Tobias
Wealth Management
From Our Team
How to Take the Emotion Out of Investing
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Financial Planning for Life After Selling a Business
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Donor Advised Funds: A Smart Way to Manage Your Giving
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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.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
6Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
8Municipal 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.
9Investors 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.
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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
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.
12When 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.
13Morgan 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.
14Morgan 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.
15Morgan 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.
16Investors 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.
17Morgan 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.
18Alternative 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.
19GlobalCurrency is available to clients of Morgan Stanley Smith Barney LLC with an eligible brokerage account. Before undertaking foreign exchange transactions, clients should understand the associated risks.
Engaging in foreign currency transactions entails more varied risks than normally associated with transactions in the domestic securities markets. Attention should be paid to market, credit, sovereign, and liquidity risks. The foreign exchange transactions and deposits discussed in this material may not be appropriate for all clients. The appropriateness of a particular investment or strategy depends upon a client’s particular circumstances and objectives. This material does not provide individually tailored investment advice.
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 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
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or 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 legal matters.
6Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
8Municipal 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.
9Investors 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.
10Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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.
12When 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.
13Morgan 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.
14Morgan 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.
15Morgan 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.
16Investors 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.
17Morgan 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.
18Alternative 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.
19GlobalCurrency is available to clients of Morgan Stanley Smith Barney LLC with an eligible brokerage account. Before undertaking foreign exchange transactions, clients should understand the associated risks.
Engaging in foreign currency transactions entails more varied risks than normally associated with transactions in the domestic securities markets. Attention should be paid to market, credit, sovereign, and liquidity risks. The foreign exchange transactions and deposits discussed in this material may not be appropriate for all clients. The appropriateness of a particular investment or strategy depends upon a client’s particular circumstances and objectives. This material does not provide individually tailored investment advice.
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 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)
