Phone:
(650) 340-6514(650) 340-6514
The Three Pillars Group at Morgan Stanley
Our Mission Statement
Thoughtful guidance and trusted expertise across the three pillars of our business: Financial Planning, Portfolio & Investment Solutions, and Diversification Strategies for Concentrated Stock
The Pillars of Our Business
“WHAT’S NEXT?”
When it comes to high-net-worth families, there’s no such thing as a simple decision. Our clients typically come to us having helmed large corporations at the executive level. Or they’ve built successful companies from the ground up. Their financial lives are highly complex, and they often face pressing decisions about their corporate equity throughout their careers and into retirement.
WE HELP YOU BUILD ON YOUR SUCCESS.
Everyone has a distinct set of resources and unique definition of success. As advisors, we help you weave those two together –– so that your wealth always serves your goals. This may start with making smart decisions around your corporate equity. But it also covers everything from financial planning to portfolio management.
OUR THREE PILLARS.
With pillars of excellence spanning financial planning, concentrated stock management, and tailored investment strategies –– our team provides comprehensive guidance to help you navigate the complex challenges and opportunities of high net worth families. We strive to help our clients: overcome heightened volatility with alternative investments; achieve their philanthropic goals in a tax-efficient manner; and financially plan for their retirement, large purchases, and children’s education.
YOUR FUTURE. YOUR FAMILY. YOUR LEGACY.
We are a highly-experienced team with many, many years still ahead of us. Put simply, our multigenerational makeup means we won’t “age out” right when you need us most. And it means your family will have a trusted resource for generations to come.
DRIVEN BY TRUST.
Our clients have worked hard to accumulate their wealth. They trust us to work just as hard to help them preserve it. We are never done earning that trust. Every day, we strive to make our clients proud to be members of our family.
For a second opinion about your current investments, or to talk about your goals, please reach out to the Three Pillars Group at 3pgwealth@morganstanley.com, or call us at (650)-340-6514.
When it comes to high-net-worth families, there’s no such thing as a simple decision. Our clients typically come to us having helmed large corporations at the executive level. Or they’ve built successful companies from the ground up. Their financial lives are highly complex, and they often face pressing decisions about their corporate equity throughout their careers and into retirement.
WE HELP YOU BUILD ON YOUR SUCCESS.
Everyone has a distinct set of resources and unique definition of success. As advisors, we help you weave those two together –– so that your wealth always serves your goals. This may start with making smart decisions around your corporate equity. But it also covers everything from financial planning to portfolio management.
OUR THREE PILLARS.
With pillars of excellence spanning financial planning, concentrated stock management, and tailored investment strategies –– our team provides comprehensive guidance to help you navigate the complex challenges and opportunities of high net worth families. We strive to help our clients: overcome heightened volatility with alternative investments; achieve their philanthropic goals in a tax-efficient manner; and financially plan for their retirement, large purchases, and children’s education.
YOUR FUTURE. YOUR FAMILY. YOUR LEGACY.
We are a highly-experienced team with many, many years still ahead of us. Put simply, our multigenerational makeup means we won’t “age out” right when you need us most. And it means your family will have a trusted resource for generations to come.
DRIVEN BY TRUST.
Our clients have worked hard to accumulate their wealth. They trust us to work just as hard to help them preserve it. We are never done earning that trust. Every day, we strive to make our clients proud to be members of our family.
For a second opinion about your current investments, or to talk about your goals, please reach out to the Three Pillars Group at 3pgwealth@morganstanley.com, or call us at (650)-340-6514.
2025 Forbes Best-In-State Wealth Management Teams
- Source: Forbes.com (Awarded Jan 2025) Data compiled by SHOOK Research LLC based for the period from 3/31/23–3/31/24.
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
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.
What We Offer: At a Glance
What We Offer: At a Glance
• Executive education with experience in SEC regulations
• 10b5-1 template creation, in coordination with company’s general counsel
• Individual selling strategies and wealth planning for company executives
• Order flow management as vests occur
• Streamlined trade execution direction, working in tandem with stock plan administrator, stock plan custodian, and Morgan Stanley
• Executive education with experience in SEC regulations
• 10b5-1 template creation, in coordination with company’s general counsel
• Individual selling strategies and wealth planning for company executives
• Order flow management as vests occur
• Streamlined trade execution direction, working in tandem with stock plan administrator, stock plan custodian, and Morgan Stanley
What is Rule 10b5-1?
Established by the Securities and Exchange Commission in 2000, Rule 10b5-1 provides defense against claims of trading on inside information in certain circumstances.
Our Mission
Helping corporate clients structure, implement, and manage Rule 10b5-1 Preset Diversification Plans –– we strive to unburden executives from the intricate service, administrative, and regulatory challenges involved in the process.
Who We Work With
Over the years, we’ve worked with a wide range of companies and their executives, in industries spanning: Information Technology, Healthcare and Biotech, Consumer Products and Services, Banking, and Insurance.
Our Experience with Rule 10b5-1
Over 15 years, we’ve built The Three Pillars Group into a successful practice wealth management teams for managing 10b5-1 Preset Diversification Plans. With a wealth of knowledge, experience, and resources, we provide a thorough understanding of the stock plan universe. In fact, our team currently directs over 25 corporate relationships –– many of which have been high profile, Morgan Stanley led public offerings.
Our Competitive Advantage
We provide robust institutional knowledge complemented by deep private wealth management experience. That positions us to connect the dots between executives’ long-term financial goals and their selling strategy. We strive to structure plans that solve multiple client objectives across various time horizons. And we can offer post-sale reinvestment recommendations.
The Crossroads of Excellence
Morgan Stanley has industry leading ranked #1 in Rule 10b5-1 and 144 services for over 13 years[i]. The Three Pillars Group, is a highly regarded 10b5-1 team within the firm.
Case Study #1: Beyond Corporate Equity
With experience in concentrated stock management, we end up working with quite a few corporate executives –– helping them not only manage their corporate equity, but their entire financial life. A few years ago, for instance –– after a biotech company brought us in to set up and manage its 10b5-1 Preset Diversification Plan –– we began to work with an executive who soon became our newest client.
Leading up to the IPO, we helped her build a personalized selling strategy aimed at minimizing her tax consequences. But our guidance went far beyond that. We also helped her:
• Build out a network of accountants and attorneys –– so that she’d have a coordinated and comprehensive team of top-industry professionals to guide her
• Design a personalized financial plan –– accounting for her goals, needs, concerns, and timelines
• Retool her investment approach –– with a portfolio focused on long-term growth, tax-efficiency, and risk protection, including Alternative Investments from Morgan Stanley’s industry-leading Alts platform
• Create customized charitable giving strategies –– to help her reach her philanthropic goals while further offsetting her tax consequences
• Manage day-to-day financial needs –––with ongoing care covering everything from guidance on large purchases, to questions about whether the state of the market would affect her personally
Leading up to the IPO, we helped her build a personalized selling strategy aimed at minimizing her tax consequences. But our guidance went far beyond that. We also helped her:
• Build out a network of accountants and attorneys –– so that she’d have a coordinated and comprehensive team of top-industry professionals to guide her
• Design a personalized financial plan –– accounting for her goals, needs, concerns, and timelines
• Retool her investment approach –– with a portfolio focused on long-term growth, tax-efficiency, and risk protection, including Alternative Investments from Morgan Stanley’s industry-leading Alts platform
• Create customized charitable giving strategies –– to help her reach her philanthropic goals while further offsetting her tax consequences
• Manage day-to-day financial needs –––with ongoing care covering everything from guidance on large purchases, to questions about whether the state of the market would affect her personally
Case Study #2: The Leap
Years ago, we began to work with a new client who had been wanting to retire for some years. Over the course of his career, he had accumulated a good deal of wealth, but he was still hesitant about the idea of “taking the leap” because, in the back of his mind, he couldn’t shake worries about how he might fare in retirement if the economy slowed down, or if another unexpected obstacle came up.
Thoroughly analyzing all of his financials, we believed that he was in a good position to retire. But for our team, a belief isn’t good enough. So after we wrote up this client’s financial strategy, we ran numerous models –– stress testing it against a slew of “worst case” economic scenarios and other personal variables (like sudden health concerns).
When we walked our client through these models, he was able to see –– not just think –– that he was in a good position to retire. And that made him comfortable enough to actually take the next step, like he had been wanting to do for years.
Disclaimer: The case studies presented are for illustrative purposes only. Past performance is no guarantee of future results. These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors.
Thoroughly analyzing all of his financials, we believed that he was in a good position to retire. But for our team, a belief isn’t good enough. So after we wrote up this client’s financial strategy, we ran numerous models –– stress testing it against a slew of “worst case” economic scenarios and other personal variables (like sudden health concerns).
When we walked our client through these models, he was able to see –– not just think –– that he was in a good position to retire. And that made him comfortable enough to actually take the next step, like he had been wanting to do for years.
Disclaimer: The case studies presented are for illustrative purposes only. Past performance is no guarantee of future results. These strategies do not guarantee a profit or protect against loss and may not be suitable for all investors.
Chartered Financial Analyst
The CFA charter is the gold standard for the investment industry, and one of the highest distinctions in the investment management profession. The CFA Program is a three-part exam that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning. Curriculum topics include: Ethics and Professional Standards; Quantitative Methods; Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Fixed Income, Derivatives, Alternative Investments, Portfolio Management, and Wealth Planning. The CFA Program is typically completed by those with backgrounds in finance, accounting, economics, or business. CFA charter holders are qualified to work in senior and executive positions in investment management, risk management, asset management, and more.
Certified Investment Management Analyst
The CIMA® the peak international, technical portfolio construction program for investment consultants, analysts, financial advisors and wealth management professionals. CIMA® certification continues to be the highest level of advanced investment education for client-facing advisors. Core body of knowledge includes: Fundamentals of Finance & Capital Markets, Investments and Asset Classes, Portfolio Theory, Behavioral Finance, Risk and Return, Portfolio Construction, and Portfolio Consulting.
Certified Financial Planner
For more than 30 years, CERTIFIED FINANCIAL PLANNER™ certification has been the standard of excellence for financial planners. Curriculum topics include: Professional Conduct & Regulation, Principles of Financial Planning, Risk Management & Insurance Planning, Investment Planning, Tax Planning, Retirement Savings & Income Planning, Estate Planning, and Psychology of Financial Planning. CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first. That's why partnering with a CFP® professional gives consumers confidence today and a more secure tomorrow. CFP® professionals take a holistic, personalized approach to bring all the pieces of your financial life together. As part of the CFP® certification, CFP® professionals also have made a commitment to CFP Board to act as a fiduciary when providing financial advice to a client. This means they have agreed to put your best interests first, so they can provide you confidence today and a secure tomorrow.
Certified Private Wealth Advisor
Certified Private Wealth Advisor® (CPWA®) certification is an advanced professional certification for advisors who serve high-net-worth clients. It’s designed for seasoned professionals who seek the latest, most advanced knowledge and techniques to address the sophisticated needs of clients with a minimum net worth of $5 million. Advisors are able to identify and analyze the unique challenges high-net-worth individuals face and be able to develop specific strategies to minimize taxes, monetize and protect assets, maximize growth, and transfer wealth.
Location
216 Lorton Avenue
Suite 200
Burlingame, CA 94010
US
Meet The Three Pillars Group
Phone:
(650) 340-6516(650) 340-6516
Robert Tjan
Vice President, Financial Advisor
Phone:
(310) 443-0548(310) 443-0548
Phone:
(916) 567-2027(916) 567-2027
Nina Wyatt
Registered Client Service Associate
Phone:
(650) 340-6527(650) 340-6527
Danny Sanchez
Registered Client Services Associate
Phone:
(650) 340-6588(650) 340-6588
About Tyler Louis Needman
Tyler Needman, CFA®, CIMA® sits at the center of The Three Pillar’s Group’s two businesses, co-leading their individual wealth management Private Client business and 10b5-1 Preset Diversification corporate services business.
Within the Three Pillars Group’s Private Client business, Tyler focuses on investment analysis and financial planning for individual wealth management clients. Tyler’s analytical skills, along with his strong foundation in relationship management, allow him to create easy to understand, holistic wealth management solutions that incorporate financial planning, investments, philanthropy, and legacy planning strategies for the next generation.
Tyler founded and co-leads The Three Pillars Group’s highly experienced 10b5-1 Preset Diversification business which sits at the crossroads of Morgan Stanley‘s Global and Private Wealth Management divisions, Morgan Stanley’s Executive Financial Services division, E*TRADE by Morgan Stanley, and Shareworks by Morgan Stanley. Tyler works closely with corporate executives and key employees, tailoring personalized 10b5-1 Pre-set Diversification Plans to diversify company stock holdings and manage the wealth they have created. Having worked with corporate 10b5-1 clients for over 15 years, Tyler offers his practical knowledge and trusted counsel to 10b5-1 relationships.
Tyler has attained some of the industry’s most prestigious qualifications over his 21 year career. Tyler is a Chartered Financial Analyst (CFA), one of the highest distinctions in the investment management profession. He also holds is Certified Investment Management Analyst (CIMA®) designation, one of the highest level of advanced investment programs for client-facing advisors. Tyler is also designated by Morgan Stanley as a Senior Portfolio Manager where he works in a Fiduciary capacity managing client assets on discretion. He is also an Alternative Investments Director, Lending Specialist, and National Strategic Partner within Morgan Stanley.
Tyler joined Morgan Stanley 2001. He is a Bay Area native and currently resides on the Peninsula with his wife Kristen, son Bryant, and daughter Aiyla. Outside the office, Tyler enjoys hiking, playing basketball, and exploring California. He graduated from the University of San Francisco with a B.S. in Finance.
Within the Three Pillars Group’s Private Client business, Tyler focuses on investment analysis and financial planning for individual wealth management clients. Tyler’s analytical skills, along with his strong foundation in relationship management, allow him to create easy to understand, holistic wealth management solutions that incorporate financial planning, investments, philanthropy, and legacy planning strategies for the next generation.
Tyler founded and co-leads The Three Pillars Group’s highly experienced 10b5-1 Preset Diversification business which sits at the crossroads of Morgan Stanley‘s Global and Private Wealth Management divisions, Morgan Stanley’s Executive Financial Services division, E*TRADE by Morgan Stanley, and Shareworks by Morgan Stanley. Tyler works closely with corporate executives and key employees, tailoring personalized 10b5-1 Pre-set Diversification Plans to diversify company stock holdings and manage the wealth they have created. Having worked with corporate 10b5-1 clients for over 15 years, Tyler offers his practical knowledge and trusted counsel to 10b5-1 relationships.
Tyler has attained some of the industry’s most prestigious qualifications over his 21 year career. Tyler is a Chartered Financial Analyst (CFA), one of the highest distinctions in the investment management profession. He also holds is Certified Investment Management Analyst (CIMA®) designation, one of the highest level of advanced investment programs for client-facing advisors. Tyler is also designated by Morgan Stanley as a Senior Portfolio Manager where he works in a Fiduciary capacity managing client assets on discretion. He is also an Alternative Investments Director, Lending Specialist, and National Strategic Partner within Morgan Stanley.
Tyler joined Morgan Stanley 2001. He is a Bay Area native and currently resides on the Peninsula with his wife Kristen, son Bryant, and daughter Aiyla. Outside the office, Tyler enjoys hiking, playing basketball, and exploring California. He graduated from the University of San Francisco with a B.S. in Finance.
Securities Agent: IA, CO, AR, DC, NJ, UT, NV, MN, WY, TN, OK, OH, NH, NC, MA, FL, VA, MI, WA, VT, SC, NM, MT, LA, CA, AZ, MO, MD, GA, AL, PA, HI, OR, IL, ID, DE, CT, WI, TX, NY; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1272749
NMLS#: 1272749
About Michael Sullivan
Michael P Sullivan, CERTIFIED FINANCIAL PLANNER™, co-leads the Three Pillars Group’s individual wealth management business.
Within the Three Pillars Group’s individual wealth management business, Michael leverages his expertise in financial planning and portfolio management to help clients develop comprehensive financial strategies aligning their personal goals with their investment objectives. Michael also works with corporate executives sharing best practices for managing concentrated stock and option positions, offering disciplined recommendations for diversification, and introducing thoughtful strategies for risk management and tax optimization.
The CERTIFIED FINANCIAL PLANNER™ designation has been the standard of excellence for financial planners for more than 30 years. CFP® professionals meet rigorous education, training and ethical standards, and have made a commitment to the CFP Board to act as a fiduciary when providing financial advice to clients.
Michael has been named to Forbes Magazine’s List of Top Next-Gen Wealth Advisors Best-In-State list. Michael has also been the recipient of Morgan Stanley’s Pacesetter’s Club Award for 2018, 2020, and 2021. The Pacesetters Club is a Morgan Stanley recognition program for Financial Advisors who have demonstrated the highest professional standards and first class client service.
Michael, his wife Tasha, and his daughter London, all live in San Carlos, CA. Michael is a native of Chatham, NJ and has a B.A. in Economics from Denison University in Ohio. Prior to Morgan Stanley, Michael worked as an institutional derivatives broker delivering investment recommendations to a diverse suite of international clients.
Within the Three Pillars Group’s individual wealth management business, Michael leverages his expertise in financial planning and portfolio management to help clients develop comprehensive financial strategies aligning their personal goals with their investment objectives. Michael also works with corporate executives sharing best practices for managing concentrated stock and option positions, offering disciplined recommendations for diversification, and introducing thoughtful strategies for risk management and tax optimization.
The CERTIFIED FINANCIAL PLANNER™ designation has been the standard of excellence for financial planners for more than 30 years. CFP® professionals meet rigorous education, training and ethical standards, and have made a commitment to the CFP Board to act as a fiduciary when providing financial advice to clients.
Michael has been named to Forbes Magazine’s List of Top Next-Gen Wealth Advisors Best-In-State list. Michael has also been the recipient of Morgan Stanley’s Pacesetter’s Club Award for 2018, 2020, and 2021. The Pacesetters Club is a Morgan Stanley recognition program for Financial Advisors who have demonstrated the highest professional standards and first class client service.
Michael, his wife Tasha, and his daughter London, all live in San Carlos, CA. Michael is a native of Chatham, NJ and has a B.A. in Economics from Denison University in Ohio. Prior to Morgan Stanley, Michael worked as an institutional derivatives broker delivering investment recommendations to a diverse suite of international clients.
Securities Agent: TN, WY, NM, AL, NY, NC, IL, VT, VA, MD, IN, CT, AZ, WA, UT, NH, MN, MI, HI, CA, WI, PA, OH, ID, DC, TX, OR, NJ, DE, FL, SC, MT, MA, LA, GA, NV, MO, CO, AR, OK, KY; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1629328
NMLS#: 1629328
About Robert Tjan
Robert Tjan co-leads The Three Pillars Group’s 10b5-1 Preset Diversification business overseeing customer success and client engagement. He helped build and manages the Three Pillars Group’s 10b5-1 process and leads internal communications with the Morgan Stanley Executive Financial Services (EFS) division. He has unique experience working with executives as they develop selling schedules for their concentrated stock and option holdings, and has a deep understanding of the many financial planning nuances of equity compensation.
Robert joined Morgan Stanley in 2016 and has worked alongside Tyler Needman and Mike Sullivan since 2017. He entered Morgan Stanley’s Financial Advisory Associate (FAA) program in 2020 to further develop his investment management and financial planning knowledge and is on pace to complete the curriculum in 2023.
Robert is originally from the Bay Area (Foster City) and currently resides in Los Angeles (Century City) with his wife, Brianna, and son, Grayson. Outside of work, Robert likes to vacation in tropical locations and partake in the rich food scene West LA has to offer. He holds a B.S. in Business Administration with an emphasis in Marketing from San Francisco State University
Robert joined Morgan Stanley in 2016 and has worked alongside Tyler Needman and Mike Sullivan since 2017. He entered Morgan Stanley’s Financial Advisory Associate (FAA) program in 2020 to further develop his investment management and financial planning knowledge and is on pace to complete the curriculum in 2023.
Robert is originally from the Bay Area (Foster City) and currently resides in Los Angeles (Century City) with his wife, Brianna, and son, Grayson. Outside of work, Robert likes to vacation in tropical locations and partake in the rich food scene West LA has to offer. He holds a B.S. in Business Administration with an emphasis in Marketing from San Francisco State University
Securities Agent: PR, TX, SD, SC, RI, VI, VA, WA, NY, TN, VT, MS, NV, NH, NM, OK, OH, WV, OR, PA, NJ, UT, MT, MA, NE, WI, KY, ID, MI, ME, IN, IL, NC, LA, GA, FL, MO, DE, IA, HI, AL, CO, AR, AZ, ND, KS, CT, CA, DC, MD, AK, MN, WY; General Securities Representative; Investment Advisor Representative
NMLS#: 2145220
NMLS#: 2145220
About Thomas Faller
Securities Agent: IA, AR, WI, TN, MN, MI, AL, WY, VT, VA, TX, OH, CA, MA, IL, DC, PA, MD, NJ, WA, UT, OR, OK, NC, MO, NY, NM, MT, ID, HI, FL, CT, CO, AZ, SC, NV, NH, LA, GA, DE; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 2554946
NMLS#: 2554946
Contact Tyler Louis Needman
Contact Michael Sullivan
Contact Robert Tjan
Contact Thomas Faller
Wealth Management
Global Investment Office
Portfolio Insights
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
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
Are You Prepared for Tax Day?
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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
Donor Advised Funds: A Smart Way to Manage Your Giving
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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.
Mosaic
Explore ideas and inspiration with captivating, original lifestyle stories created exclusively for Morgan Stanley clients.
A Change of Greenery
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Ready to start a conversation? Contact The Three Pillars Group today.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by 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.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
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
6Alternative 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.
7Morgan 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.
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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*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
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.
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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
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
6Alternative 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.
7Morgan 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.
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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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
CRC 6491812 (04/2024)
