Phone:
(713) 968-3094(713) 968-3094
The Stable Oaks Group at Morgan Stanley
Our Mission Statement
Our mission is to be trusted advisors to the individuals, families, and businesses we serve—helping them simplify financial complexity, align their wealth with their values, and create lasting impact across generations. Grounded in deep relationships and personalized advice, we’re committed to guiding our clients with care, clarity, and purpose every step of the way.
Our Story
Led by Duane Gurbach, Christy Sanchez, and Pablo Munoz, our team brings together a diverse blend of backgrounds, perspectives, and experience to serve the complex financial needs of our clients. As a team of seasoned Financial Advisors—several of whom hold the CERTIFIED FINANCIAL PLANNER™ designation—we are united by a shared commitment: to deliver personalized, strategic guidance that empowers our clients to build, preserve, and transfer wealth with clarity and confidence.
We concentrate in serving executives, business owners, and multigenerational families, offering comprehensive financial planning and investment management tailored to each client’s goals. In addition, our team has deep expertise in corporate retirement plans, guiding plan sponsors and participants with care and forward-thinking strategies.
With more than $633 million in assets under management (as of Q2 2025), our practice is built on long-term relationships, deep trust, and a mission to help clients align their wealth with their values and create lasting impact across generations. Whether navigating a business transition, planning for retirement, or establishing a family legacy, we are here to guide you with purpose and precision.
We concentrate in serving executives, business owners, and multigenerational families, offering comprehensive financial planning and investment management tailored to each client’s goals. In addition, our team has deep expertise in corporate retirement plans, guiding plan sponsors and participants with care and forward-thinking strategies.
With more than $633 million in assets under management (as of Q2 2025), our practice is built on long-term relationships, deep trust, and a mission to help clients align their wealth with their values and create lasting impact across generations. Whether navigating a business transition, planning for retirement, or establishing a family legacy, we are here to guide you with purpose and precision.
Services Include
- Executive Financial ServicesFootnote1
- Estate Planning StrategiesFootnote2
- Retirement PlanningFootnote3
- Trust ServicesFootnote4
- Planning for Education FundingFootnote5
- Financial PlanningFootnote6
- Professional Portfolio ManagementFootnote7
- Qualified Retirement PlansFootnote8
- Corporate Retirement PlansFootnote9
- 401(k) Rollovers
- Cash Management and Lending ProductsFootnote10
- Alternative InvestmentsFootnote11
- AnnuitiesFootnote12
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Working With You
As your dedicated wealth management advisory team, our role is to tailor a personalized financial strategy which fits your needs. In our experience working with clients, we have developed a step-by-step approach to service.
Discovery Process
We take the time to fully understand you and your family - whether you're planning for retirement, purchasing a new home, or living out your golden years - we consider all of your challenges, goals, and aspirations when building your financial picture.
Forming Your Strategy
Using your life goals as my compass, we create a risk-balanced strategy which maps a clear path to helping to achieve your success.
Implementing Your Plan
We apply extensive research and analysis, and also utilize Morgan Stanley's full suite of resources, to help ensure swift decisive action in all market scenarios.
Measuring Your Success
We check in with you to deliver metrics around your portfolio, and ultimately measure trajectory towards your goals. Our ultimate mission is your success and well-being.
CERTIFIED FINANCIAL PLANNER™
Individuals certified by the CFP® Board have taken the extra step to demonstrate commitment and professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience, and ethical requirements. These four cornerstones set the foundation for the CFP® professional's ability in helping their clients achieve their goals. Our team's diverse skillsets can help clients navigate the financial factors in their life. See below for more information about the CFP® designation and how our team can help you:
Education
The CFP® Professional must develop theoretical and practical financial planning knowledge by completing comprehensive coursework at an institution of higher learning approved by the CFP® board. Once obtaining the CFP® trademark, their education does not stop as continued education is part of the recertification process.
Experience
All CFP® professionals are required to complete several years of experience related to financial services prior to earning the right to the CFP® trademark.
Examination
The CFP® professional must pass the 7 hour comprehensive Certification Exam, which tests abilities to apply the financial planning knowledge to real-life situations. The exam covers the financial planning process, tax planning, employee benefits, retirement planning, estate planning, investment management, and insurance.
Ethics
The CFP® professional is obligated to uphold the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence as outlined in the CFP® Board's Code of Ethics. The rules of conduct require the CFP® professional to put the client's interest first at all times.
Comprehensive Financial Planning
Regardless of what stage your life is in – moving ahead in your career, enjoying retirement, or somewhere in between – as your Financial Advisor, we can help you reach your financial goals.
Using a suite of resources and tools that include goal-specific analysis, we can work with you to create a realistic, holistic strategy that integrates the various aspects of your financial life, including your investments and cash management needs.
We can create your personal roadmap to help you achieve and protect your goals – a framework that makes the connection between your life goals and your financial resources, and provides a baseline for future discussions.
2026 Tax Tables
These tables outline the 2026 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information.
2026 IRA Contribution Limits
The IRS has announced retirement plan benefit and contribution limits for 2026. You can review all plan type 2026 contribution limits here.
Required Minimum Distributions
Required minimum distributions (RMDs) are likely to play an important role in your finances in retirement. Planning ahead for what you want to do with the money may help reduce taxes and increase options for re-investing.
Social Security
There are strategic considerations involved in deciding when to claim Social Security benefits, including the impact of life expectancy, financial needs, and potential returns from delaying benefits. Explore these considerations as you plan for this next phase of your life.
Morgan Stanley Online
Beyond viewing your account balance and activity, Morgan Stanley Online (MSO) has a suite of features that allow you to manage your everyday finances; from paying bills and sending money to transferring funds and authorizing transactions with eAuthorizations.
Total Wealth View
View all your external financial accounts directly in MSO or the mobile app. By linking your accounts, you'll benefit from more informed wealth planning, secure data access, and convenient connectivity.
Digital Vault
Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
Reserved Living & Giving
Clients with $1 million+ in assets and liabilities at Morgan Stanley are eligible to enroll in the Reserved Living & Giving program. As a Reserved member, clients will have access to exclusive partner offers and discounts, as well as thought leadership content on a variety of lifestyle and personal finance topics.
Through a shared commitment to helping clients and families pursue their financial goals, members of The Stable Oaks Group have earned various industry recognitions and professional designations, including select Morgan Stanley internal designations. These achievements reflect our team's dedication to ongoing professional development, client service, and disciplined wealth management.
- Certified Exit Planning Advisor, CEPA®
- Certified Financial Planner, CFP®
- Century Club (2024; 2025)
- Certified Financial Planner, CFP®
- Chartered Retirement Planning Counselor, CRPC®
- Qualified Plan Financial Consultant, QPFC®
- Corporate Retirement Director
- Portfolio Manager
- Financial Planning Specialist (FPS)
Duane Gurbach
Pablo Munoz
Christy Sanchez
Location
2800 Post Oak Blvd
Ste 3200
Houston, TX 77056
US
Direct:
(713) 968-3094(713) 968-3094
Meet The Stable Oaks Group
Christy Sanchez
Financial Advisor
Phone:
(713) 968-3144(713) 968-3144
First Vice President, Financial Advisor, Corporate Retirement Director, Portfolio Manager
Phone:
(713) 968-3024(713) 968-3024
About Duane Gurbach
Duane Gurbach, CFP®, is a Financial Advisor for Morgan Stanley Wealth Management and Certified Financial Planner™. Duane and his team pride themselves on exceptional client service and developing customized wealth management strategies. We utilize a goals-based wealth management approach that is highly data driven to help meet the many needs of clients ranging from retirement planning, tax efficient investing, asset management, concentrated stock positions, Social Security and Medicare strategies, strategic borrowing, wealth transfer and many more.
Duane joined the Morgan Stanley team after graduating in 2011 from the University of Houston-Downtown with a Bachelor's degree in Business Administration (BS) focusing on Finance. He became a Certified Financial Planner™ in August 2017 after completing his certification through the Susanne M. Glasscock School of Continuing Education at Rice University.
Duane is located in the Houston Galleria area and is married to his wife Rachael. They have two girls Hadley and Reagan.
Duane joined the Morgan Stanley team after graduating in 2011 from the University of Houston-Downtown with a Bachelor's degree in Business Administration (BS) focusing on Finance. He became a Certified Financial Planner™ in August 2017 after completing his certification through the Susanne M. Glasscock School of Continuing Education at Rice University.
Duane is located in the Houston Galleria area and is married to his wife Rachael. They have two girls Hadley and Reagan.
Securities Agent: FL, VA, NY, MS, GA, TX, DC, UT, OK, NM, MD, CO, CA, AR, LA, DE, AZ, AK, TN, NJ, SC, NE, MI, WV, KS, HI, MT; General Securities Representative; Investment Advisor Representative
NMLS#: 1383198
NMLS#: 1383198
About Christy Sanchez
Born and raised in Houston, Christy Sanchez has spent more than two decades helping individuals, families, and business owners make confident financial decisions. She began her career in 2003 in retail and small business banking with JPMorgan Chase, where she developed a deep appreciation for understanding clients’ goals and the role thoughtful financial guidance plays in their lives.
For the past seven and a half years, she has partnered closely with Duane Gurbach, originally serving as a Registered Client Associate and now as a Financial Advisor on the team. Together they focus on goal-based financial planning, helping clients clarify what they want to achieve, implement personalized strategies, and provide ongoing support as life evolves.
Known for her warm communication style and ability to translate complex financial concepts into clear, actionable steps, she is committed to ensuring clients feel informed, supported, and understood throughout their financial journey.
A native Houstonian, she recently married in April 2024. Outside of work, she enjoys spending time with family and friends, traveling, and exploring new places and experiences in the city she calls home.
For the past seven and a half years, she has partnered closely with Duane Gurbach, originally serving as a Registered Client Associate and now as a Financial Advisor on the team. Together they focus on goal-based financial planning, helping clients clarify what they want to achieve, implement personalized strategies, and provide ongoing support as life evolves.
Known for her warm communication style and ability to translate complex financial concepts into clear, actionable steps, she is committed to ensuring clients feel informed, supported, and understood throughout their financial journey.
A native Houstonian, she recently married in April 2024. Outside of work, she enjoys spending time with family and friends, traveling, and exploring new places and experiences in the city she calls home.
Securities Agent: NJ, AK, NC, CA, TX, TN, NM, DC, SC, OK, FL, AZ, NY, NV, MT, GA, UT, KS, AR, VA, MS, MI, MD, LA, DE, NE, CO, HI, WV; General Securities Representative; Investment Advisor Representative
NMLS#: 513774
NMLS#: 513774
About Pablo L. Munoz
Pablo began his career as a financial advisor in 2012, driven by a desire to help others find financial freedom and build lasting wealth. Today, he works closely with executives, business owners, and multigenerational families, developing personalized financial strategies that align with their values, vision, and long-term goals.
As a CERTIFIED FINANCIAL PLANNER™ professional, Corporate Retirement Director, and Portfolio Manager at Morgan Stanley, Pablo brings a disciplined, thoughtful approach to wealth management. His process is rooted in truly understanding each client’s unique circumstances—helping them form a strategy, implement their plan, and track their success over time.
Pablo studied Finance at the University of Houston–Downtown through the Marilyn Davies College of Business. Originally from Medellín, Colombia, Pablo came to the United States as a teenager with his mother, who worked her way to become a published cancer researcher. That journey instilled in him a deep respect for perseverance, opportunity, and the importance of legacy.
Now based in Houston, Pablo is active in several local organizations that support underprivileged youth, including the Institute of Hispanic Culture of Houston. Outside the office, he enjoys traveling with his wife Angelica, exploring new restaurants and wines, and spending time with their three French bulldogs—Lily, Louis, and Henry.
As a CERTIFIED FINANCIAL PLANNER™ professional, Corporate Retirement Director, and Portfolio Manager at Morgan Stanley, Pablo brings a disciplined, thoughtful approach to wealth management. His process is rooted in truly understanding each client’s unique circumstances—helping them form a strategy, implement their plan, and track their success over time.
Pablo studied Finance at the University of Houston–Downtown through the Marilyn Davies College of Business. Originally from Medellín, Colombia, Pablo came to the United States as a teenager with his mother, who worked her way to become a published cancer researcher. That journey instilled in him a deep respect for perseverance, opportunity, and the importance of legacy.
Now based in Houston, Pablo is active in several local organizations that support underprivileged youth, including the Institute of Hispanic Culture of Houston. Outside the office, he enjoys traveling with his wife Angelica, exploring new restaurants and wines, and spending time with their three French bulldogs—Lily, Louis, and Henry.
Securities Agent: NM, MS, NE, MD, AK, AZ, AR, SC, OK, TX, MI, DC, UT, TN, MT, HI, GA, FL, VA, NY, KS, CO, CA, NJ, LA, DE, WV; General Securities Representative; Investment Advisor Representative
NMLS#: 1095841
CA Insurance License #: 4474623
NMLS#: 1095841
CA Insurance License #: 4474623
Contact Duane Gurbach
Contact Christy Sanchez
Contact Pablo L. Munoz
Wealth Management
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Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Retirement for Plan Sponsors
End-to-End Services, Made Simple:
We can provide the tools and guidance to help you manage a retirement plan.
We can provide the tools and guidance to help you manage a retirement plan.
- Plan Evaluation
- Investment Management
- Plan Management Support
- Plan Participant Education
Small Business Retirement Plans
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Stable Oaks Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3When 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.
4Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan 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.
5When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
6Morgan 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.
7Morgan 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.
8When 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.
9When 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.
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
11Alternative 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
1Morgan Stanley 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan 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.
3When 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.
4Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan 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.
5When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
6Morgan 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.
7Morgan 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.
8When 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.
9When 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.
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
11Alternative 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
