Joel Spitz
Managing Director, Wealth Management, Financial Advisor, Portfolio Manager
Phone:
(973) 912-7774(973) 912-7774
The SWC Group at Morgan Stanley
Direct:
(973) 912-7774(973) 912-7774
Our Mission Statement
We help individuals and businesses achieve their goals through hard work, superior service and caring. With 90+ years of combined experience, and our tailored approach to wealth management, our group stands ready to be your Chief Financial Officers.
Our Story and Services
With over seventy years of combined partner experience, the goal of The SWC Group is to provide an extremely high service level to our clients who have entrusted us with their life planning and asset management. We feel privileged to call many of our client’s friends, as many of our relationships span decades and generations. Our team, which currently is entrusted with approximately $1.2 billion in client assets, is comprised of three partners and two client support professionals.
Services Include
- Wealth ManagementFootnote1
- Professional Portfolio ManagementFootnote2
- Alternative InvestmentsFootnote3
- Financial PlanningFootnote4
- Estate Planning StrategiesFootnote5
- Institutional ServicesFootnote6
- Retirement PlanningFootnote7
- Sustainable InvestingFootnote8
- Planning for Individuals with Special Needs and their Families
- Cash ManagementFootnote9
- Qualified Retirement PlansFootnote10
- Corporate Retirement PlansFootnote11
- Stock Option PlansFootnote12
- SyndicateFootnote13
- Trust ServicesFootnote14
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Philosophy
Managing Wealth, Making a Difference
Our family wealth practice is built on the development of deep and enduring relationships and the delivery of comprehensive wealth management services.
We work with a broad range of clients who value and respect the advice and guidance we carefully craft to help them achieve their personal and professional goals.
These goals often involve life-changing events, such as:
• Starting a family
• A new job or career change
• Planning for and enjoying retirement
• Relocating from another city or state
• The sale of a business
• A divorce or loss of a spouse
• A large inheritance
We also help our clients:
• Minimize taxes
• Optimize investment performance
• Manage risk and provide family protection
• Finance a major acquisition
• Achieve long-term philanthropic goals
• Pass wealth to the next generation effectively
We work with a broad range of clients who value and respect the advice and guidance we carefully craft to help them achieve their personal and professional goals.
These goals often involve life-changing events, such as:
• Starting a family
• A new job or career change
• Planning for and enjoying retirement
• Relocating from another city or state
• The sale of a business
• A divorce or loss of a spouse
• A large inheritance
We also help our clients:
• Minimize taxes
• Optimize investment performance
• Manage risk and provide family protection
• Finance a major acquisition
• Achieve long-term philanthropic goals
• Pass wealth to the next generation effectively
Our Clients Include:
• Successful individuals and multiple generations of families
• Business owners and entrepreneurs
• Women seeking guidance for themselves and their families
• Individuals faced with a major life event, such as a divorce, loss of a spouse or an inheritance
• Professionals in the healthcare, legal, technology and financial fields
• Referrals from existing clients and industry professionals
While each client has unique goals and circumstances, they all have one thing in common: The desire to simplify their financial lives and develop an integrated strategy to preserve and grow their wealth.
• Business owners and entrepreneurs
• Women seeking guidance for themselves and their families
• Individuals faced with a major life event, such as a divorce, loss of a spouse or an inheritance
• Professionals in the healthcare, legal, technology and financial fields
• Referrals from existing clients and industry professionals
While each client has unique goals and circumstances, they all have one thing in common: The desire to simplify their financial lives and develop an integrated strategy to preserve and grow their wealth.
Upcoming Firm Events
We hope you will join us for this upcoming event.
U.S. Policy Pulse: 100 Days of Trump 2.0
DATE: April 24, 2025 at 4:15 p.m. ETWhat do the policies of the administration's first 100 days indicate for the economy and the markets? Join Morgan Stanley Wealth Management Chief Investment Officer, Lisa Shalett, for a conversation with Global Head of Government Relations, Michael J. Stein, and Head of U.S. Policy, Monica Guerra, about potential implications for investors.Can't attend the live event? Register anyway for access to the replay.
4398292 04/2025
Online
Approach
Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.
Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.
Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.
Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.
Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.
Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.
Resources
In our fast moving world, technology has evolved to be a part of nearly every facet of our lives. Morgan Stanley has been on the forefront of bringing technology to wealth management and we have been leveraging those resources with our clients every day. Digital tools can make your life easier, show you risk where you might least expect it, keep you money safe, and more. Below are some examples of the suite of tools and services we can provide:
Morgan Stanley Online
Morgan Stanley Online goes beyond simply viewing your account balances and activity. Using the Digital Vault you can store your documents safely. Using eAuthorizations you can sign off on said documents all without using a printer. You can pay your bills or send your kids some money all from your phone or computer in the comfort of your own home. All this and more with MSO.
Learn More
Total Wealth View & Aladdin
Make sure you see what's coming around every corner with Total Wealth View. By linking your outside accounts and holdings, we can accurately diagnose risk where you might not be able to see it. We also coordinate with the Aladdin risk management tool to make sure nothing gets lost in the commotion of frenzied markets. A few clicks and you'll have your entire financial picture under one roof.
Learn More
Cash Management
Use one account for all your cash management needs. No fees to use the ATM, all the digital tools in your hand, and integration with your wealth management goals. This is the way banking should be.
Learn More
Cybersecurity
Rogue agents lurk the net, scouring for your financial and personal information any way they can get it. See tips to stay safe and learn more about how Morgan Stanley keeps your information secure below.
Learn More
Goals Planning System
A holistic Goals Planning System (GPS) 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. Using goals as a benchmark, the investment strategy is continuously evaluated to ensure clients are on track.
Learn More
GIC On The Markets
The Global Investment Committee (GIC) is a group of seasoned investment professionals from Morgan Stanley who meet regularly to discuss the global economy and markets. The committee determines the investment outlook that guides our advice to clients. They continually monitor developing economic and market conditions, review tactical outlooks and recommend asset allocation model weightings, as well as produce a suite of strategy, analysis, commentary, portfolio positioning suggestions and other reports and broadcasts.
Learn MoreLocation
150 John F. Kennedy Parkway
Second Floor
Short Hills, NJ 07078
US
Direct:
(973) 912-7774(973) 912-7774
Meet The SWC Group
David Wurst
Vice President, Financial Advisor
Phone:
(973) 912-7736(973) 912-7736
William Cerone
Vice President, Financial Advisor
Phone:
(973) 912-7710(973) 912-7710
Reginald Parker
Client Service Associate
Phone:
(973) 912-7707(973) 912-7707
Michael Neumann
Client Service Associate
Phone:
(973) 912-7807(973) 912-7807
Joe Sforza
Client Service Associate
Phone:
(973) 912-7701(973) 912-7701
About Joel Spitz
Utilizing a holistic approach in portfolio design and management, Joel has been advising clients since 1985. He has been recognized in various publications, including Barron’s Top Advisors list (February 2009). Registrations include, FINRA Series 7, 63, Series 3, and Health & Life Insurance. Joel’s client centric mantra is the cornerstone of ensuring that his clients are comfortable and on course to achieve their respective financial goals in life.
• EDUCATION
Lafayette College
Barron's Top 1,000 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Feb 2009) Data compiled by Barron's based on time period from Sept 2007 - Sept 2008.
• EDUCATION
Lafayette College
Barron's Top 1,000 Financial Advisors: State-by-State
Source: Barron's.com (Awarded Feb 2009) Data compiled by Barron's based on time period from Sept 2007 - Sept 2008.
Securities Agent: AK, NV, MT, SC, NM, GA, WI, MI, DE, OR, MO, HI, DC, RI, ME, CT, AR, WA, NJ, CO, AZ, MD, IL, VA, TX, TN, PA, OH, NY, VT, NC, KY, IN, FL, CA, MA; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 536538
NMLS#: 536538
About David Wurst
David has been in the Financial Services industry since 2002 and has extensive knowledge within Managed Portfolio Strategies, Wealth Management Planning, and Custom Portfolio design. Registrations include FINRA Series 7, and 66. David received his bachelor’s degree in Finance from Montclair State University where he excelled in both academics and athletics. He was a four year starter for the Redhawks baseball team and helped captain them to a Division III National Championship in the year 2000. Similar to the entire SWC Group, David is extremely client centric and incredibly passionate about helping clients achieve their financial goals.
• EDUCATION
Montclair State University
• EDUCATION
Montclair State University
Securities Agent: CO, CT, WA, TX, TN, MO, IL, ME, AK, NM, GA, DE, NY, VT, VA, NV, MI, MA, HI, WI, FL, DC, RI, OR, NJ, KY, OH, AZ, SC, PA, NC, IN, CA, AR, MD; General Securities Representative; Investment Advisor Representative
NMLS#: 536564
NMLS#: 536564
About William Cerone
William has been in the Financial Services industry since 2005 and assists the group with investment research, strategy implementation and retirement /portfolio planning. Registrations include FINRA Series 7 & 66 as well as NJ Health and Life Insurance. A graduate of Fairleigh Dickinson University, William received his undergraduate degree in Finance and also earned a MBA in Corporate Finance.
• EDUCATION
Fairleigh Dickinson University
• EDUCATION
Fairleigh Dickinson University
Securities Agent: WI, PA, NY, MO, AZ, AR, IN, FL, WA, VA, TX, IL, GA, DE, SC, RI, OR, MI, DC, AK, OH, NM, HI, CA, TN, NV, NC, ME, MA, KY, CO, NJ, MD, VT, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 1406203
CA Insurance License #: 4105143
NMLS#: 1406203
CA Insurance License #: 4105143
About Michael Neumann
Securities Agent: OH, MO, LA, GA, WI, NY, DE, NM, MS, HI, AK, NC, MA, KY, DC, PA, WY, RI, OK, NJ, MT, CT, VA, OR, CA, AR, WA, SC, MI, IL, AZ, VT, TX, FL, NV, ME, MD, IN, TN, CO; General Securities Representative; Investment Advisor Representative
Contact Joel Spitz
Contact David Wurst
Contact William Cerone
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
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
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
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
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
Article Image
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
Donor Advised Funds: A Smart Way to Manage Your Giving
Article Image
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 SWC Group today.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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 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.
5Morgan 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.
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.
8The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
9Morgan 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
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.
11When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
12Morgan 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.
13Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
14Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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 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.
5Morgan 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.
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.
8The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
9Morgan 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
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.
11When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
12Morgan 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.
13Participating in a new issue/syndicate is subject to availability. IPOs are highly speculative and may not be appropriate for all investors because they lack a stock-trading history and usually involve smaller and newer companies that tend to have limited operating histories, less-experienced management teams, and fewer products or customers. Also, the offering price of an IPO reflects a negotiated estimate as to the value of the company, which may bear little relationship to the trading price of the securities, and it is not uncommon for the closing price of the shares shortly after the IPO to be well above or below the offering price.
14Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
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.
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Awards Disclosures
CRC 6491812 (04/2024)