Hugh M Venrick
Senior Vice President, Financial Advisor, Senior Portfolio Management Director
Phone:
(605) 357-2265(605) 357-2265
The Summit Plains Group at Morgan Stanley
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Our Mission Statement
We seek to earn the privilege and position of trusted advisor to affluent families. We bring a passionate commitment to service and measure our success by our clients’ satisfaction.
Access to Resources. Coordinating Needs.
The Summit Plains Group at Morgan Stanley provides comprehensive wealth management services to affluent families. We combine the world-class resources of Morgan Stanley with personalized advice to help meet the needs of our clients.
We have helped families through various transitions; from a successful business sale or a career change, to reaching retirement or navigating through the passing of a loved one. We are excited to put our intellectual capital and process to work for you.
Our Clients
We work with a distinguished group of individuals, families and businesses that are seeking tailored financial plans and customized investment strategies. This includes:
- Multigenerational private wealth families
- Corporate executives and business owners
- Healthcare professionals
- Attorneys & accountants
- Retirees and individuals planning for retirement
- Women seeking guidance for themselves and their families
- Referrals from existing clients and industry professionals
- Self-made entrepreneurs
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
1. ESTABLISH FINANCIAL OBJECTIVES
We will work with you to establish a realistic set of actions based on your financial goals, life vision, liquidity needs and comfort level.
2. DEFINE INVESTMENT STRATEGY
Together, we will develop an investment strategy designed to help you reach your goals. We seek to generate the highest return in a tax efficient manner that aligns with your estate plan.
3. EVALUATE AND SELECT INVESTMENTS
We leverage a diverse set of select investments to implement your personal strategy. Our custom-tailored solutions can give you access to state-of-the-art research and investments to further advance your financial goals.
4. ONGOING REVIEW PROCESS
We monitor your portfolio to track its performance relative to your stated objectives and modify the portfolio as your needs and circumstances change over time. Our dedication to ensuring your financial plan is what is best for you never waivers.
Digital Tools
Morgan Stanley's suite of Modern Wealth Management Tools allows advisors to offer more customized and comprehensive advice than anywhere else. These tools' ease of use allows for a more in-depth view of a client's financial life to be taken, resulting in better service and more well-rounded advice.
Morgan Stanley Online and MSMobile
Morgan Stanley Online (MSO) has a variety of features beyond viewing your account balance and activity that you should take advantage of.
FEATURES
eAuthorizations: an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
eDelivery: reduces paper documents sent by mail and can protect your personal information from getting into the hands of identity thieves.
Managing your everyday finances such as paying bills online, sending money or transferring funds.
FEATURES
eAuthorizations: an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
eDelivery: reduces paper documents sent by mail and can protect your personal information from getting into the hands of identity thieves.
Managing your everyday finances such as paying bills online, sending money or transferring funds.
Goals Planning System
GPS helps clients define what they want out of life, and then creates a financial framework to bring these goals to life.
Client Benefits
A Plan Designed to Achieve Goals: A holistic Goals Planning System approach to Wealth Management can help tailor an investment framework that considers key aspects of a client's life, such as retirement age, healthcare costs, home buying, cash management, legacy needs, and potential withdrawal strategies.
Embedded Investment Strategy to Help Clients Get on Track: Once goals are assessed, various investment proposals are considered to help clients get on track in accordance with their risk tolerance. The new tools will link to the latest asset allocation models, research and ideas and facilitate the Financial Advisor in providing advice right where it's needed.
Track Progress to Goals: Using goals as a benchmark, the investment strategy is continuously evaluated to ensure clients are on track.
Stay Flexible as Goals Change: As circumstances and goals change, Financial Advisors can help adjust priorities and introduce additional solutions.
GPS VideoClient Benefits
A Plan Designed to Achieve Goals: A holistic Goals Planning System approach to Wealth Management can help tailor an investment framework that considers key aspects of a client's life, such as retirement age, healthcare costs, home buying, cash management, legacy needs, and potential withdrawal strategies.
Embedded Investment Strategy to Help Clients Get on Track: Once goals are assessed, various investment proposals are considered to help clients get on track in accordance with their risk tolerance. The new tools will link to the latest asset allocation models, research and ideas and facilitate the Financial Advisor in providing advice right where it's needed.
Track Progress to Goals: Using goals as a benchmark, the investment strategy is continuously evaluated to ensure clients are on track.
Stay Flexible as Goals Change: As circumstances and goals change, Financial Advisors can help adjust priorities and introduce additional solutions.
Digital Vault
Keeping important documents and financial records organized and readily available is one the best gifts you can give those you love. In the event of catastrophe or serious illness, disability or death, your Family Records Organizer can immediately provide vital, timely information to both your family and professional advisors. The Digital Vault on Morgan Stanley Online and the Mobile App allows you and your clients to build a central, shared document library where all documents are stored using encryption.
Digital Vault Video
Asset Aggregation
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind. We've launched a new tool that allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile.
Asset AggregationStay in the Know
Stay ahead of the curve with our quarterly newsletter! Handpicked articles, insightful Morgan Stanley reports, and essential reminders are all at your fingertips. This curated content is designed to keep you informed and up-to-date, providing actionable items for our valued clients.
Location
300 Cherapa Place
Suite 503
Sioux Falls, SD 57103
US
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Meet The Summit Plains Group
Phone:
(605) 357-2268(605) 357-2268
Phone:
(605) 357-2283(605) 357-2283
Mitchel Smith
Registered Client Service Associate
Phone:
(605) 357-2296(605) 357-2296
About Hugh M Venrick
Hugh started his financial services career in 1981 as a stockbroker at privately held Mesirow Financial in Sioux Falls, SD. He began as an assistant to the divisional manager and rose to Managing Director. While at Mesirow Financial, Hugh co-founded the Venrick Goeman Group in 1993. Hugh and the rest of the team helped establish the Sioux Falls Smith Barney office in 1999, which was acquired by Morgan Stanley in 2009.
In July 2025, Hugh and his partners Financial Advisors Sam Gotham and Andrew Venrick established the Summit Plains Group to continue providing pre-retirement planning, total wealth management and the transfer of wealth from generation to generation.
He graduated from the University of South Dakota and is also a graduate of the Securities Industry Institute through the Wharton School at the University of Pennsylvania.
Outside of the office, Hugh is active as either a past or present board member or volunteer with many philanthropic organizations. Over the years, these have included the Sioux Falls Area Community Foundation, Junior Achievement, Avera McKennan Hospital Board of Trustees, Citigroup SD Leadership Council, Avera Heart Hospital Board of Trustees, Prairie Family Business Association, Face It TOGETHER, Avera Health System Pooled Investment Committee, and the Sioux Falls Sports Authority. Hugh and his wife, RuthAnn, live in Sioux Falls and have three adult children and seven grandchildren.
Awards:
Named to Forbes Best-in-State Wealth Advisors by Forbes Magazine seven years in a row, 2018 - 2024.
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com 2018-2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award. Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure/
Securities Agent: CO, WY, SD, FL, MN, IA, AR, MD, IL, ID, GA, TX, TN, NE, MT, DE, NY, MO, MA, OR, ND, IN, VA, NJ, CA, AZ, WA, WI, OH, NC; General Securities Representative; Investment Advisor Representative
NMLS#: 1364489
In July 2025, Hugh and his partners Financial Advisors Sam Gotham and Andrew Venrick established the Summit Plains Group to continue providing pre-retirement planning, total wealth management and the transfer of wealth from generation to generation.
He graduated from the University of South Dakota and is also a graduate of the Securities Industry Institute through the Wharton School at the University of Pennsylvania.
Outside of the office, Hugh is active as either a past or present board member or volunteer with many philanthropic organizations. Over the years, these have included the Sioux Falls Area Community Foundation, Junior Achievement, Avera McKennan Hospital Board of Trustees, Citigroup SD Leadership Council, Avera Heart Hospital Board of Trustees, Prairie Family Business Association, Face It TOGETHER, Avera Health System Pooled Investment Committee, and the Sioux Falls Sports Authority. Hugh and his wife, RuthAnn, live in Sioux Falls and have three adult children and seven grandchildren.
Awards:
Named to Forbes Best-in-State Wealth Advisors by Forbes Magazine seven years in a row, 2018 - 2024.
2018-2024 Forbes Best-In-State Wealth Advisors
Source: Forbes.com 2018-2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award. Awards Disclosures: https://www.morganstanley.com/disclosures/awards-disclosure/
Securities Agent: CO, WY, SD, FL, MN, IA, AR, MD, IL, ID, GA, TX, TN, NE, MT, DE, NY, MO, MA, OR, ND, IN, VA, NJ, CA, AZ, WA, WI, OH, NC; General Securities Representative; Investment Advisor Representative
NMLS#: 1364489
Securities Agent: WY, GA, SD, FL, TX, TN, NE, MT, DE, NJ, CA, AZ, WA, MS, WI, OH, NC, ME, CO, VA, NY, MO, MA, OR, ND, KS, IN, MN, IA, AR, MD, IL, ID; General Securities Representative; Investment Advisor Representative
NMLS#: 1364489
NMLS#: 1364489
About Sam Gotham
Sam started his career working in finance and client service at a Sioux Falls-based marketing agency.
In 2017, Sam joined Morgan Stanley and The Summit Plains Group. He works with clients to develop personal financial plans and manage their long-term wealth goals. He is currently the Branch Manager for Sioux Falls.
Sam graduated Cum Laude from Augustana College (now Augustana University). He was a student-athlete and majored in Business Administration and Spanish. Sam lives in Sioux Falls with his wife, Elizabeth. He serves on the boards of the Furniture Mission of South Dakota as well as Helping Kids Round First as well as the Sioux Falls Area Community Foundation's Grants Committee.
In 2017, Sam joined Morgan Stanley and The Summit Plains Group. He works with clients to develop personal financial plans and manage their long-term wealth goals. He is currently the Branch Manager for Sioux Falls.
Sam graduated Cum Laude from Augustana College (now Augustana University). He was a student-athlete and majored in Business Administration and Spanish. Sam lives in Sioux Falls with his wife, Elizabeth. He serves on the boards of the Furniture Mission of South Dakota as well as Helping Kids Round First as well as the Sioux Falls Area Community Foundation's Grants Committee.
Securities Agent: MI, ME, MD, MA, LA, KY, KS, IN, IL, ID, IA, HI, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL, AK, WY, WV, WI, WA, VT, VI, VA, UT, TX, TN, SD, SC, RI, PR, PA, OR, OK, OH, NY, NV, NM, NJ, NH, NE, ND, NC, MT, MS, MO, MN; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 1698571
NMLS#: 1698571
About Andrew Venrick
Andrew Venrick, QPFC™ joined The Summit Plains Group at Morgan Stanley in 2021. Passionate about solving problems, Andrew focuses on helping clients across three main strategies: income tax mitigation, wealth transfer and retirement planning. He provides comprehensive goal-based financial planning solutions to young families, entrepreneurs and retirees.
A graduate of Creighton University where he was a walk-on for the men’s basketball program and an American Studies major before going on to earn a Master’s degree in Negotiations and Conflict Resolution (NCR). He and his wife Samantha live in Sioux Falls with their daughters Genevieve and Lucia.
A graduate of Creighton University where he was a walk-on for the men’s basketball program and an American Studies major before going on to earn a Master’s degree in Negotiations and Conflict Resolution (NCR). He and his wife Samantha live in Sioux Falls with their daughters Genevieve and Lucia.
Securities Agent: MN, AR, MT, KS, WI, TX, OR, ND, MA, TN, NE, MS, MO, IL, IA, MI, CO, VA, CA, AZ, ID, WY, NJ, MD, WA, SD, GA, NY, IN, FL, DE; General Securities Representative; Investment Advisor Representative
NMLS#: 2322803
NMLS#: 2322803
About Mitchel Smith
Mitchel Smith is a dedicated and experienced professional currently working as a Registered Client Service Associate at The Summit Plains Group at Morgan Stanley, a position he has held since December 2023. With a total of five years of industry experience, Mitchel previously served as a service associate for Raymond James for three years and for Baird Private Wealth Management for one year.
Mitchel graduated with a Bachelor’s degree in Business Administration from Black Hills State University, where he also showcased his athletic skills as a member of the football team.
Outside of his professional life, Mitchel is passionate about weightlifting and hunting. He cherishes spending quality time with his family. In May 2023, he and his wife welcomed their first puppy into their home, a lively companion who loves to chase birds and chew on furniture. The couple also celebrated the arrival of their first child in January 2024, a joyous event that Mitchel describes as a true blessing.
Despite his accomplishments, Mitchel remains a humble and dedicated professional, committed to providing outstanding service to his clients.
Mitchel graduated with a Bachelor’s degree in Business Administration from Black Hills State University, where he also showcased his athletic skills as a member of the football team.
Outside of his professional life, Mitchel is passionate about weightlifting and hunting. He cherishes spending quality time with his family. In May 2023, he and his wife welcomed their first puppy into their home, a lively companion who loves to chase birds and chew on furniture. The couple also celebrated the arrival of their first child in January 2024, a joyous event that Mitchel describes as a true blessing.
Despite his accomplishments, Mitchel remains a humble and dedicated professional, committed to providing outstanding service to his clients.
Contact Hugh M Venrick
Contact Sam Gotham
Contact Andrew Venrick
Wealth Management
Global Investment Office
Portfolio Insights
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Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Rational Investing in an Age of Uncertainty
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Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
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 Plains Group today.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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.
2When 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.
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 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.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
8Morgan Stanley Smith Barney LLC (“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.
9Municipal 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.
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.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque 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 | Morgan Stanley
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When 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.
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 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.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
8Morgan Stanley Smith Barney LLC (“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.
9Municipal 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.
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.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque 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 | Morgan Stanley
CRC 4665150 (8/2025)
