James Svigos
The Svigos Gray Wealth Management Group at Morgan Stanley
Our Mission Statement
We believe that while markets are unpredictable, we can always control our attitude, effort, and preparation. By combining proactive planning with personalized guidance, we empower our clients to move forward with confidence – to either gain or maintain financial independence.
Our Story and Services
Your Financial Journey, Reimagined
When you look at a person's financial life – from building a career to saving and investing – it often resembles a mountain climb. The early years are the ascent, full of drive, focus, and hard work. Along the way, having a clear plan and disciplined process helps turn that effort into real progress - ensuring each step is purposeful and aligned with your goals. Reaching retirement is a major milestone – your summit – and one worth celebrating. But the journey doesn't end there. The descent, or retirement itself, can be even more complex and demanding. That's where thoughtful retirement income planning becomes essential, and where we guide you every step of the way.
Continuity Through Trust
When families choose a wealth management relationship, they want to feel like a priority. They want a team that understands what matters most beyond the portfolio - and one that can not only help get to this point, but confidently guide them through what's next.
As your dedicated wealth management team, we lead with honesty, transparency, and respect from our very first conversation. The families we work with trust us because we always put their interests first and speak with candor, even when the conversations are tough. That trust is the foundation of everything that we do.
Our commitment extends beyond today's financial decisions - we're here to help guide your family through life's transitions, support future generations, and provide continuity as your family's goals and priorities evolve.
Make Defining Moments Work for You
For the last 10 years, James and Andrew have presented to thousands of employees at both privately held and publicly traded companies during mergers, acquisitions, and other corporate transitions. That experience has shaped our team's deep expertise in helping individuals and families navigate life's most pivotal moments.
Transitions like a company sale, ESOP termination, new executive role, or retirement often arrive with urgency - and the decisions they bring can shape your family's financial future for decades. These moments demand more than just financial expertise; they require a structured process, timely action, and a team that understands the full picture. We embrace that responsibility and aim to deliver structure, insight, and conviction exactly when it matters most.
Driven by Effort, Grounded in Experience
We show up every day with the energy, discipline, and commitment our clients deserve. Whether you're navigating a major life change or planning for what's next, we bring focus and follow-through to every conversation. That level of dedication is reflected in the recognition we've received, including Forbes Best-In-State Wealth Management Team (2023-2025), Best-In-State Wealth Advisor (2022-2025), and Top Next Gen Wealth Advisor (2018, 2020, 2021, 2024) - but what matters most to us is the trust we build with the families we serve.
Call us at (312) 419-3440 – we would welcome the opportunity to learn more about your story and goals.
*Awarded to James Svigos
2023, 2024, 2025 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded Jan 2023, 2024, 2025) Data compiled by SHOOK Research LLC based 12-month time period concluding in March of year prior to the issuance of the award.
2022, 2023, 2024 Forbes Best-In-State Wealth Advisors Source: Forbes.com (Awarded 2022, 2023, 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2018, 2020, 2021, 2024 Forbes America's Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors) Source: Forbes.com (Awarded 2018, 2020, 2021, 2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Family Wealth Mangement
Family wealth management takes a broader view than traditional wealth management, emphasizing the growth, preservation, and transfer of wealth across generations or wherever a client's legacy leads. Through our partnership with specialists from Morgan Stanley Family Office Resources, we build deep relationships that help individuals and families alike navigate their wealth with greater confidence, understanding, and intention - regardless of whether they consider themselves "wealthy" or have a traditional family structure.
The Morgan Stanley Family Office Resources team is comprised of 60+ experienced professionals that deliver comprehensive solutions across a broad range of topics including:
The Morgan Stanley Family Office Resources team is comprised of 60+ experienced professionals that deliver comprehensive solutions across a broad range of topics including:
Overview of Capabilities
- Wealth and Estate Planning Strategies offers education on various tax, trust, and estate strategies, helps facilitate the implementation of those strategies, and focuses on the integration of those strategies with your investment plans.
- Family Governance helps maximize the value of family capital through the transfer and preservation of your family's shared values, and the creation of an enduring family legacy.
- Wealth Education works alongside you and your family to develop a customized financial education curriculum based on each of your family members' goals and aspirations, existing knowledge, and learning styles.
- Philanthropy Management offers a suite of advisory services and giving platforms, including Morgan Stanley's donor advised fund, to help define and realize your family's charitable mission.
- Lifestyle Advisory creates customized solutions through industry-leading, third-party providers (e.g aircraft, cybersecurity, etc.) that help meet your exceptional needs, from the everyday to the extraordinary.
- Trust Services provides access and the ability to select an appropriate third-party corporate trustee through an "open architecture" trustee platform.
- Health and Wellness Education curates educational content and thought leadership, concierge support, and connectivity to healthcare and wellness centers of excellence.
- Single Family Office Advisory offers you customized resources and advisory services for your existing or prospective single family office, including exclusive experiences, proprietary content, and select referral services.
- Related capabilities include investment, insurance, and other risk management solutions, cash management and lending products and services, and corporate equity solutions.
Turning Events Into Opportunities
Significant financial events – like an ESOP payout, a company sale, or executing a 10b5-1 trading plan – can create transformative opportunities for wealth creation. But they also come with complex decisions, tax considerations, and timing strategies that impact your entire financial picture.
We help individuals and families navigate these liquidity events with clarity and confidence. Whether you’re planning to monetize equity through a planned sale, diversify concentrated holdings, or receiving proceeds from an ESOP termination, our team delivers customized planning aligned with your goals, values, and long-term vision. Our approach ensures that each decision supports both your immediate needs and your family’s future.
We help individuals and families navigate these liquidity events with clarity and confidence. Whether you’re planning to monetize equity through a planned sale, diversify concentrated holdings, or receiving proceeds from an ESOP termination, our team delivers customized planning aligned with your goals, values, and long-term vision. Our approach ensures that each decision supports both your immediate needs and your family’s future.
Selling Your Business
Selling a business is a once-in-a-lifetime event, and our team helps families approach it with purpose and precision. We guide you through the critical pre and post sale decisions - structuring for tax efficiency, planning for liquidity, and designing a long-term strategy that reflects you personal and financial goals. By coordinating with your legal and tax professionals, we help turn a business legacy into lasting family wealth.
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ESOP Terminations
Our wealth management team assists families navigate the complexities of ESOP terminations by providing personalized guidance on distribution options, tax implications and reinvestment strategies. We work closely with you to ensure that your ESOP benefits align with your overall financial goals and support long-term wealth preservation.
10b5-1 Trading Plan Overview
Members of our team assist with the design and execution of 10b5-1 trading plans, helping executives strategically manage concentrated equity positions with confidence and compliance.
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Retirement Package / Severance
We can help you make the most of a retirement package or severance by reviewing your payout options, analyzing tax implications, and building a strategy to replace income and preserve assets. From consolidating retirement accounts to managing stock options and healthcare decisions, we help you transition with purpose and peace of mind.
Inheritance
Receiving an inheritance can be both emotional and complex. Our team can help you understand your options, manage taxes, and align the assets with your broader financial goals. Whether it’s investing the proceeds, handling inherited IRAs, or planning for future generations, we’re here to help you move forward with intention and financial stability.
Mergers and Acquisitions
Our team guides families through the time-sensitive decisions that come with a merger or acquisition event - helping manage concentrated equity, structure tax-efficient strategies, and align liquidity with long term goals. We coordinate with legal and tax advisors to ensure timely, informed decisions that preserve wealth and support multi-generational planning.
Strategic Planning for Equity Awards
Equity compensation plays a pivotal role in building long-term family wealth. Whether through stock options, RSUs, or other company ownership, equity-based awards often represent a significant portion of a family’s financial future. By integrating equity compensation into a broader wealth management strategy, families can make informed decisions that align with their goals – funding education, planning for retirement, or leaving a lasting legacy.
Equity compensation is more than a financial benefit – it’s an opportunity to build lasting wealth for you and your family. With purposeful guidance, these complex assets can be transformed into a powerful part of your broader wealth strategy, helping you achieve personal goals, manage tax implications, and support future generations. Our team is here to guide you through every stage – from grant to vesting to oversight – with clarity, care, and a deep understanding of your family’s vision. Equity compensation awards may include the following:
Equity compensation is more than a financial benefit – it’s an opportunity to build lasting wealth for you and your family. With purposeful guidance, these complex assets can be transformed into a powerful part of your broader wealth strategy, helping you achieve personal goals, manage tax implications, and support future generations. Our team is here to guide you through every stage – from grant to vesting to oversight – with clarity, care, and a deep understanding of your family’s vision. Equity compensation awards may include the following:
Restricted Stock Units (RSUs)
Restricted Stock Units (RSUs) are a promise to deliver shares of company stock to the holders upon vesting.
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Stock Options
Stock Options give employees the right, but not the obligation, to purchase shares at a fixed price. If the value of the stock increased over time, the holder can earn a profit.
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Employee Stock Purchase Plans
An Employee Stock Purchase Plan (ESPP) is a stock plan that companies offer their employees as a benefit. The purpose of the plan is to encourage employee ownership.
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Stock Appreciation Rights (SARs)
A stock appreciation right, or SAR, is a compensation tool employers can use to attract and retain key employees.
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Performance Shares
Performance stock typically provides immediate value at the time of vesting and can be an important part of your overall financial picture. Understanding what they are and your options for covering any associated taxes can help you make the most of the benefits they may provide.
Learn moreAwards
We're honored to have received multiple industry accolades over the years, acknowledging our commitment to excellence and long-term client partnerships.
Forbes Best-In-State Wealth Management Team
2023, 2024, 2025 - Svigos Gray Wealth Management Group
2023, 2024, 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023, 2024, 2025) Data compiled by SHOOK Research LLC based 12-month time period concluding in March of year prior to the issuance of the award.
2023, 2024, 2025 Forbes Best-In-State Wealth Management Teams
Source: Forbes.com (Awarded Jan 2023, 2024, 2025) Data compiled by SHOOK Research LLC based 12-month time period concluding in March of year prior to the issuance of the award.
Forbes Best-In-State Wealth Advisors
2022, 2023, 2024, 2025 - James Svigos
2022, 2023, 2024, 2025 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2022, 2023, 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2022, 2023, 2024, 2025 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2022, 2023, 2024). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
Forbes Top Next Gen Wealth Advisors
2018, 2020, 2021 - James Svigos
2025 - Andrew Gray
2018, 2020, 2021 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2018, 2020, 2021). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
2025 - Andrew Gray
2018, 2020, 2021 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2018, 2020, 2021). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Forbes Top Next Gen Best-In-State Wealth Advisors
2019, 2022, 2023, 2024 - James Svigos
2019, 2022, 2023, 2024 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2019, 2022, 2023, 2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
2019, 2022, 2023, 2024 Forbes America’s Top Next-Gen Wealth Advisors & Top Next-Gen Wealth Advisors Best-in-State (formerly referred to as Forbes America's Top Next-Gen Wealth Advisors, Forbes Top 1,000 Next-Gen Wealth Advisors, Forbes Top 500 Next Generation Wealth Advisors)
Source: Forbes.com (Awarded 2019, 2022, 2023, 2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Morgan Stanley Masters Club Award
2020 - 2025 - James Svigos
Morgan Stanley Century Club Award
2017 - 2019 - James Svigos
Morgan Stanley Pace Setters Club Award
2010 - 2015 - James Svigos
2019 - 2025 - Andrew Gray
2019 - 2025 - Andrew Gray
Family Wealth Director Designation
2021 - James Svigos
Senior Portfolio Management Director
2025 - James Svigos
Insurance Planning Director
2020 - James Svigos
Alternative Investments Director
2022 - James Svigos
Lending Specialist
2022 - James Svigos
Executive Financial Services Director
2022 - James Svigos
Location
233 S Wacker Dr
Ste 8600
Chicago, IL 60606
US
Direct:
(312) 419-3440(312) 419-3440
Meet The Svigos Gray Wealth Management Group
Andrew Gray
Mitchell Carpenter
Sean Lirot
Client Service Associate
Phone:
(312) 419-3495(312) 419-3495
Blake Holfeld
Client Service Associate
Phone:
(312) 419-3414(312) 419-3414
Matthew Mangan
Client Service Associate
Phone:
(312) 419-3583(312) 419-3583
About Sean Lirot
Sean Lirot joined Morgan Stanley in 2021 as a Client Service Associate in the Chicago Tower Complex. As a member of the Svigos Gray Group, Sean is responsible for supporting client relationships and administrative needs.
Sean values assisting families streamline their day to day financial needs, and takes pride in the attention to detail that goes into each interaction. In efforts to further enhance the client experience, Sean assists with on-boarding, account maintenance and financial reporting.
Sean graduated from the University of Missouri earning a B.S. in Finance and Banking. After completing his degree, he transitioned into the mortgage industry before joining Morgan Stanley. Currently residing in the Chicagoland area, Sean enjoys golfing, traveling, and rooting for all Chicago sports teams.
Sean values assisting families streamline their day to day financial needs, and takes pride in the attention to detail that goes into each interaction. In efforts to further enhance the client experience, Sean assists with on-boarding, account maintenance and financial reporting.
Sean graduated from the University of Missouri earning a B.S. in Finance and Banking. After completing his degree, he transitioned into the mortgage industry before joining Morgan Stanley. Currently residing in the Chicagoland area, Sean enjoys golfing, traveling, and rooting for all Chicago sports teams.
About Blake Holfeld
Blake Holfeld joined Morgan Stanley in 2021 as a Client Service Associate in the Chicago Tower Complex. As a member of The Svigos Gray Group, Blake assists in the oversight of the team’s operational and business development initiatives.
Blake values the individuality of each client relationship, and takes pride in going the extra mile to create long-lasting relationships. Blake ensures that the team is constantly evolving by developing strategies geared toward enhancing the overall client experience.
Blake graduated from Florida Gulf Coast University earning a B.S. in Finance. After completing his degree, Blake moved back to his hometown in the Chicago suburbs to pursue a career in the financial industry at Morgan Stanley. Blake enjoys spending time with family and friends and is passionate about fitness and health.
Blake values the individuality of each client relationship, and takes pride in going the extra mile to create long-lasting relationships. Blake ensures that the team is constantly evolving by developing strategies geared toward enhancing the overall client experience.
Blake graduated from Florida Gulf Coast University earning a B.S. in Finance. After completing his degree, Blake moved back to his hometown in the Chicago suburbs to pursue a career in the financial industry at Morgan Stanley. Blake enjoys spending time with family and friends and is passionate about fitness and health.
About Matthew Mangan
Matt Mangan is a Client Service Associate with The Svigos Gray Wealth Management Group at Morgan Stanley in Chicago. Matt joined the team in 2024 and plays a key role in delivering the high-touch service and operational excellence that supports a seamless client experience.
Matt graduated from the University of Dayton with a degree in Finance. As a former college football player at Dayton, he developed a strong foundation in discipline, teamwork, and attention to detail – qualities that now serve him well in the fast-paced world of wealth management. Whether helping clients navigate day to day account needs or supporting the team’s broader planning efforts, Matt brings a steady, solutions-oriented presence to every interaction.
Originally from Winnetka, IL Matt now lives in Chicago. Outside the office he enjoys spending time with family and friends, playing basketball, watching Notre Dame football, and cheering on Dayton basketball.
Matt graduated from the University of Dayton with a degree in Finance. As a former college football player at Dayton, he developed a strong foundation in discipline, teamwork, and attention to detail – qualities that now serve him well in the fast-paced world of wealth management. Whether helping clients navigate day to day account needs or supporting the team’s broader planning efforts, Matt brings a steady, solutions-oriented presence to every interaction.
Originally from Winnetka, IL Matt now lives in Chicago. Outside the office he enjoys spending time with family and friends, playing basketball, watching Notre Dame football, and cheering on Dayton basketball.
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Michael Gallagher
Managing Director, Wealth Management, Financial Advisor, Corporate Client Group Director
Managing Director, Private Wealth Management, Private Wealth Advisor, Stock Plan Director
Mark T Curtis
Managing Director, Stock Plan Director, Financial Planning Specialist, Family Wealth Director, International Client Advisor, Investing with Impact Director
Morgan Stanley Wealth Management Financial Advisers can conduct their business in several ways: individually, as a member of a team of Financial Advisors, or through the formation of a Strategic Partnership with another Financial Advisor or team of Financial Advisors. A Strategic Partnership is an arrangement between a Financial Advisor or a team of Financial Advisors with another Financial Advisor or team of Financial Advisors that has a unique focus or knowledge regarding a specific business concentration, product area, and/or client type. If your account is with an individual Financial Advisor, that Financial Advisor services all facets of your account. If your account is with a Financial Advisor who is a member of a team, any Financial Advisor on the team can service your account. If your Financial Advisor is part of a Strategic Partnership, his or her role in that Strategic Partnership may be limited to a specific business and/or product area and may not cover all facets of your account. The use of the terms “Partner” or “Strategic Partner” and/or “Partnership” or “Strategic Partnership” are used as terms of art and not used to imply or connote any legal relationship.
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
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 Svigos Gray Wealth Management 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 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.
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.
3Morgan 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.
4When 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.
5Morgan 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
6Morgan 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.
7When 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.
8Morgan 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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
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The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
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 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.
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.
3Morgan 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.
4When 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.
5Morgan 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
6Morgan 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.
7When 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.
8Morgan 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.
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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.
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Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025), 4763067 (9/2025)
