David S Heath
Executive Director, Wealth Management, Financial Advisor, Senior Portfolio Manager, Financial Planning Specialist, Government Entity Specialist
Phone:
(205) 969-7021(205) 969-7021
The Summit Group at Morgan Stanley
Direct:
(205) 969-7032(205) 969-7032
Toll-Free:
(888) 873-9391(888) 873-9391
Our Mission Statement
The Summit Group will work to develop a financial plan to help you pursue what is important to you. In short, your goals become our focus, and achieving them becomes a commitment we share.
Welcome
For us at The Summit Group, Retirement Planning means more than providing our clients with investment advice. It means helping them maintain the financial independence they've worked their whole lives to achieve. Our consultative process begins with an in-depth discussion of your current finances and future objectives. We'll address issues you might have overlooked and determine how we can help you adjust your investment strategy to accommodate changing conditions and meet any unforeseen expenses and income demands that may arise during retirement.
As Financial Advisors, our role is to help you use your wealth to achieve what is most important to you. That may mean providing an education to your children or grandchildren, buying a vacation home, meeting the special needs of a family member, retiring ten years early - the list is endless, and the decision is uniquely your own. Together, we will explore your aspirations and the life you envision and work with you to translate your goals into specific investment objectives with a personalized investment strategy. We will utilize our team's experience and the insight and resources of one of the world's largest financial firms, to structure a portfolio for you, executing and refining that strategy to help bring you closer to your definition of investment success.
As Financial Advisors, our role is to help you use your wealth to achieve what is most important to you. That may mean providing an education to your children or grandchildren, buying a vacation home, meeting the special needs of a family member, retiring ten years early - the list is endless, and the decision is uniquely your own. Together, we will explore your aspirations and the life you envision and work with you to translate your goals into specific investment objectives with a personalized investment strategy. We will utilize our team's experience and the insight and resources of one of the world's largest financial firms, to structure a portfolio for you, executing and refining that strategy to help bring you closer to your definition of investment success.
Services Include
- Wealth ManagementFootnote1
- 401(k) Rollovers
- 529 PlansFootnote2
- Alternative InvestmentsFootnote3
- Asset Management
- Endowments and FoundationsFootnote4
- Financial PlanningFootnote5
- Life InsuranceFootnote6
- Long Term Care InsuranceFootnote7
- Planning for Education FundingFootnote8
- Professional Portfolio ManagementFootnote9
- Retirement PlanningFootnote10
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
The Summit Group's Four-Step Process
Every client's story is different. That's why our process begins with understanding what matters most to you, your family, your career, and the goals you're working toward.
Whether you're building wealth, preparing for retirement, navigating a major life transition, or planning for future generations, we provide personalized guidance and a clear framework to help bring confidence and clarity to your financial decisions.
Whether you're building wealth, preparing for retirement, navigating a major life transition, or planning for future generations, we provide personalized guidance and a clear framework to help bring confidence and clarity to your financial decisions.
1. Discovery Conversation
Every relationship starts with a conversation.
We'll discuss your current financial picture, your goals, and any questions or concerns you may have. This introductory meeting allows us to learn more about you while helping you determine whether our team is the right fit for your needs.
We'll discuss your current financial picture, your goals, and any questions or concerns you may have. This introductory meeting allows us to learn more about you while helping you determine whether our team is the right fit for your needs.
2. Understanding What Matters Most
This is where we dive deeper.
Together, we'll explore the values, priorities, and experiences that shape your financial decisions. We'll review your existing financial information, discuss opportunities and challenges, and gain a comprehensive understanding of what you're working toward, both now and in the future.
Together, we'll explore the values, priorities, and experiences that shape your financial decisions. We'll review your existing financial information, discuss opportunities and challenges, and gain a comprehensive understanding of what you're working toward, both now and in the future.
3. Strategy & Plan Design
With a thorough understanding of your situation, we develop a personalized strategy tailored to your goals.
Using Morgan Stanley's planning resources and our team's experience, we evaluate key aspects of your financial life, including investments, retirement, tax considerations, risk management, estate planning, and cash flow strategies. The result is a coordinated plan designed to help you make informed decisions with confidence.
Using Morgan Stanley's planning resources and our team's experience, we evaluate key aspects of your financial life, including investments, retirement, tax considerations, risk management, estate planning, and cash flow strategies. The result is a coordinated plan designed to help you make informed decisions with confidence.
4. Implementation & Ongoing Guidance
A plan is only valuable when it's put into action.
Once we've aligned on a strategy, we'll help implement the recommendations and coordinate the next steps. As your life evolves, we'll continue working alongside you, providing ongoing guidance, proactive communication, and regular reviews to help ensure your financial plan remains aligned with your goals.
Once we've aligned on a strategy, we'll help implement the recommendations and coordinate the next steps. As your life evolves, we'll continue working alongside you, providing ongoing guidance, proactive communication, and regular reviews to help ensure your financial plan remains aligned with your goals.
Comprehensive Financial Planning
No matter where you are in life, building momentum in your career, preparing for retirement, managing a growing business, or enjoying the freedom you've worked hard to create, having a clear financial strategy can help bring confidence to every decision.
We take the time to understand what matters most to you and turn those priorities into a personalized plan. By combining thoughtful analysis with a comprehensive view of your financial picture, we help align your investments, cash flow, risk management, and long-term goals into one coordinated strategy.
Whether you're focused on growing wealth, protecting what you've built, creating a lasting legacy, or navigating a major life transition, we're here to serve as a trusted resource and partner.
We take the time to understand what matters most to you and turn those priorities into a personalized plan. By combining thoughtful analysis with a comprehensive view of your financial picture, we help align your investments, cash flow, risk management, and long-term goals into one coordinated strategy.
Whether you're focused on growing wealth, protecting what you've built, creating a lasting legacy, or navigating a major life transition, we're here to serve as a trusted resource and partner.
Investment Management
We help oversee your retirement accounts and investment portfolio with a strategy designed around your goals, risk preferences, and tax considerations. Every recommendation is tailored to fit your unique financial picture and evolving needs.
Retirement Planning
Whether retirement is years away or already underway, we help create a strategy built around your income needs, lifestyle goals, and long-term priorities, helping you move forward with clarity and confidence.
Estate Planning Strategies
Estate planning is about more than transferring assets. It's about protecting the people and causes that matter most. We help review your overall financial picture and collaborate with your legal professionals to ensure your plan remains aligned with your wishes as life evolves.
Insurance Planning
Insurance plays an important role in protecting the financial foundation you've built. Our team helps evaluate your current coverage and overall financial picture to identify potential gaps and ensure your insurance strategy aligns with your goals, family, and long-term plan.
Debt Management
Managing debt effectively can be just as important as growing wealth. We help you review your outstanding obligations and develop a practical repayment plan designed to minimize interest, strengthen your financial position, and support your long-term goals.
Goal Planning System (GPS)
Our planning process starts with understanding what matters most to you. Using Morgan Stanley's Goals Planning System (GPS), we help connect your investments, cash flow, and long-term objectives into a personalized strategy designed to keep you focused on what you're working toward.
Learn More Here
Spending and Budgeting Tools
Understanding where your money goes is an essential part of achieving your financial goals. Using advanced planning tools, we help provide a clear view of your cash flow, spending habits, and savings opportunities, empowering you to make informed financial decisions with confidence.
Learn More Here
2026 Tax Tables
Staying informed about tax rules is an important part of effective financial planning. This resource provides key 2026 tax rates, contribution limits, deduction thresholds, and other essential figures to help you make more informed financial decisions throughout the year.
Learn More HereBusiness Owners & Executives
Building a successful business requires a clear strategy. Managing your personal wealth should be no different. We help business owners and executives align their financial goals, manage risk, and make informed decisions with access to industry-leading resources, research, and investment solutions.
Where Family, Business & Legacy Intersect
A successful family enterprise is about more than business ownership. It's about preparing future generations, preserving shared values, and creating a roadmap for long-term success that can endure for decades to come.
Learn More Here
Life After a Business Sale
Selling a business is a milestone years in the making. We help business owners navigate the financial transition with thoughtful planning around investments, risk management, and long-term wealth preservation.
Learn More Here
Managing Concentrated Wealth
Business owners and executives often accumulate significant wealth through a single company or stock position. We help clients evaluate strategies designed to manage concentration risk while aligning their wealth with long-term financial objectives.
Learn More Here
Strategic Planning for Equity Compensation
As equity compensation becomes a larger part of your wealth, having a clear plan is essential. For executives navigating trading restrictions, blackout periods, and company stock holdings, a 10b5-1 Trading Plan can help create a disciplined approach to managing equity while supporting personal liquidity needs and long-term financial goals.
Learn More HereImportant Research & Information Available To You
We believe that financial concepts should be easy to understand, relevant, and actionable. Through timely insights and thoughtful analysis, we strive to help clients make sense of the strategies, decisions, and market forces that can impact their financial future.
Our team is committed to keeping clients informed about market trends, economic developments, and key issues shaping the financial and business landscape. Below are a few of the insights and resources we regularly share.
Our team is committed to keeping clients informed about market trends, economic developments, and key issues shaping the financial and business landscape. Below are a few of the insights and resources we regularly share.
GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Learn More Here
On The Markets Monthly Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
Learn More Here
Research & Insights
Through timely, in-depth analysis of companies, industries, markets, and world economies, Morgan Stanley has earned its reputation as a leader in the field of investment research.
Learn More Here
Morgan Stanley Research
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Learn More Here
Reserved Living & Giving
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's most valued clients. Members can enjoy special discounts and timely insights to support them at home and beyond.
Learn More Here
Thoughts on the Market Podcasts
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Learn More HereLocation
740 Shades Creek Pkwy
Ste 100
Birmingham, AL 35209
US
Direct:
(205) 969-7032(205) 969-7032
Toll-Free:
(888) 873-9391(888) 873-9391
Meet The Summit Group
Gregory B Burchell, C(k)P
Senior Vice President, Wealth Management, Financial Advisor, Senior Investment Management Consultant, Corporate Retirement Director, Certified 401(k) Professional
Phone:
(205) 969-7040(205) 969-7040
Bethy Heath
Vice President, Financial Advisor, Corporate Retirement Director, Portfolio Manager, Financial Planning Specialist
Phone:
(205) 969-7050(205) 969-7050
Kimberly McQueen
Associate Vice President, Wealth Management Associate, Financial Planning Specialist
Phone:
(205) 969-7032(205) 969-7032
Laura Packer
Senior Registered Client Service Associate
Phone:
(205) 969-7060(205) 969-7060
Melissa Porco
Senior Registered Client Service Associate
Phone:
(205) 969-7062(205) 969-7062
About David S Heath
Executive Director
Portfolio Manager
Financial Advisor
As a graduate of the University of Alabama in 1996, David earned a Bachelor of Science Degree in Business from The Culverhouse College of Commerce and Business Administration. Upon graduation from The University of Alabama, David developed a new magazine dedicated to real estate development and investments on The Gulf Coast.
David joined Morgan Stanley as a Financial Advisor in 1999. He is an Executive Director of Wealth Management and is currently The Summit Group's Lead Portfolio Manager in charge of equity research and brings individual security ideas to our clients. His goal is to stay ahead of investment trends and uncover opportunities as they present themselves.
David and his wife Bethy have three children and live in Birmingham, Alabama.
Portfolio Manager
Financial Advisor
As a graduate of the University of Alabama in 1996, David earned a Bachelor of Science Degree in Business from The Culverhouse College of Commerce and Business Administration. Upon graduation from The University of Alabama, David developed a new magazine dedicated to real estate development and investments on The Gulf Coast.
David joined Morgan Stanley as a Financial Advisor in 1999. He is an Executive Director of Wealth Management and is currently The Summit Group's Lead Portfolio Manager in charge of equity research and brings individual security ideas to our clients. His goal is to stay ahead of investment trends and uncover opportunities as they present themselves.
David and his wife Bethy have three children and live in Birmingham, Alabama.
Securities Agent: DC, TX, SC, OK, MI, DE, CO, AR, NE, MT, MD, LA, IN, CT, OH, FL, CA, AL, IA, VA, TN, KS, AZ, NC, GA, NY, NM, MS; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1398714
NMLS#: 1398714
About Gregory B Burchell
Certified 401(k) Professional
Senior Vice President, Wealth Management
Senior Investment Management Consultant
Senior Institutional Consultant
Corporate Retirement Director
Financial Advisor
As a graduate of the University of Alabama at Birmingham, Greg earned a Business Degree in Finance with a Concentration in Portfolio Management.
Greg has been with Morgan Stanley for over 2 decades and joined The Summit Group in 2001. His focus is on strategic asset allocation and comprehensive financial planning for both individual plans and corporate accounts. He is also a Registered Investment Advisor Representative and the Director of Participant Education for The Summit Group. Greg plays a vital role in the campaign to effectively educate employees, increasing their knowledge and awareness of the challenges faced in retirement planning, the benefits made available by the plan, as well as the importance and urgency of taking full advantage of those benefits. He plays a pivotal role in the client needs assessment and developing custom solutions for each unique situation.
Greg has two sons and lives in Birmingham, Alabama.
Disclaimers:
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Senior Vice President, Wealth Management
Senior Investment Management Consultant
Senior Institutional Consultant
Corporate Retirement Director
Financial Advisor
As a graduate of the University of Alabama at Birmingham, Greg earned a Business Degree in Finance with a Concentration in Portfolio Management.
Greg has been with Morgan Stanley for over 2 decades and joined The Summit Group in 2001. His focus is on strategic asset allocation and comprehensive financial planning for both individual plans and corporate accounts. He is also a Registered Investment Advisor Representative and the Director of Participant Education for The Summit Group. Greg plays a vital role in the campaign to effectively educate employees, increasing their knowledge and awareness of the challenges faced in retirement planning, the benefits made available by the plan, as well as the importance and urgency of taking full advantage of those benefits. He plays a pivotal role in the client needs assessment and developing custom solutions for each unique situation.
Greg has two sons and lives in Birmingham, Alabama.
Disclaimers:
Asset allocation and diversification do not guarantee a profit or protect against a loss in a declining financial market.
Securities Agent: IN, GA, NE, MT, AL, OH, NC, DC, TN, MD, LA, NY, DE, CO, CA, NM, MS, IA, FL, AR, VA, SC, PA, MI, AZ, CT, TX, OK, KS; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1401592
NMLS#: 1401592
About Bethy Heath
Vice President, Wealth Management
Financial Advisor
Bethy received her Bachelor of Science degree from The Culverhouse College of Commerce and Business Administration at the University of Alabama in 1994 and began her career with Bellsouth Mobility. After working in the telecommunications industry for several years, she started a career with a start-up pharmacy benefits manager, where she was a multi-state manager. When the company was sold, Bethy left the workforce and started working as a stay-at-home mother for her three children.
Bethy has a passion for volunteerism and before working with Morgan Stanley has held many leadership board positions with organizations such as The Junior League of Birmingham, The American Heart Association, Riverchase Methodist Church, Spain Park High School and the Hoover Athletic Association. She currently serves on the board of the Big Oak Ranch Auxiliary.
Bethy joined Morgan Stanley in 2017 and is a member of The Summit Group. She enjoys working closely with her clients to develop comprehensive financial plans that are designed to provide them with a fluid roadmap to help achieve their financial goals.
Financial Advisor
Bethy received her Bachelor of Science degree from The Culverhouse College of Commerce and Business Administration at the University of Alabama in 1994 and began her career with Bellsouth Mobility. After working in the telecommunications industry for several years, she started a career with a start-up pharmacy benefits manager, where she was a multi-state manager. When the company was sold, Bethy left the workforce and started working as a stay-at-home mother for her three children.
Bethy has a passion for volunteerism and before working with Morgan Stanley has held many leadership board positions with organizations such as The Junior League of Birmingham, The American Heart Association, Riverchase Methodist Church, Spain Park High School and the Hoover Athletic Association. She currently serves on the board of the Big Oak Ranch Auxiliary.
Bethy joined Morgan Stanley in 2017 and is a member of The Summit Group. She enjoys working closely with her clients to develop comprehensive financial plans that are designed to provide them with a fluid roadmap to help achieve their financial goals.
Securities Agent: LA, CT, AL, OH, TN, IA, TX, MO, AZ, NC, CO, SC, OK, IN, DE, CA, NE, MT, MI, GA, FL, DC, VA, NY, KS, NM, MD, IL, AR, MS; General Securities Representative; Investment Advisor Representative
NMLS#: 1794287
NMLS#: 1794287
About Laura Packer
Series 63 Uniform Securities Agent State Law Licensed.
Securities Agent: PA, VA, OK, NY, MD, AL; General Securities Representative; Investment Advisor Representative
Contact David S Heath
Contact Gregory B Burchell
Contact Bethy Heath
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 Summit Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Investors 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.
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
4Morgan 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, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9Morgan 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.
10When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
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
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Investors 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.
3Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
4Morgan 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, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
6Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
7Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
9Morgan 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.
10When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
