Tony Zhang
Managing Director, Private Wealth Management, Private Wealth Advisor, Senior Portfolio Management Director, Family Wealth Director, Alternative Investments Director, Founders Specialist
Phone:
(626) 584-3480(626) 584-3480
Morgan Stanley Private Wealth Management
The Tony Zhang Group
Direct:
(626) 449-1240(626) 449-1240
Our Mission Statement
Experience, intellectual capital and dedicated personal service to help you meet your life goals
Welcome to The Tony Zhang Group
The Tony Zhang Group serves ultra-high-net-worth families, founders, and business leaders with complex global financial lives.
Many of our clients have deep ties to both Asia and the United States and are navigating the challenges of cross-border wealth, business succession, and multi-generational legacy. We deliver highly customized solutions for families whose assets, opportunities, and obligations span jurisdictions and generations.
Our Approach
We combine the personalized service of a boutique advisory team with the global resources and institutional capabilities of Morgan Stanley.
Our team operates as a virtual family office, integrating investment management, wealth planning, tax and estate structuring, and liquidity-event planning into a cohesive advisory relationship. We work closely with clients and their professional advisors to ensure clarity, coordination, and disciplined execution across borders.
Investment & Planning
We design portfolios aligned with each client's objectives, risk profile, and liquidity needs, leveraging Morgan Stanley's global investment platform across public and private markets.
Our advisory work frequently includes:
- Pre and post-liquidity planning for founders
- Concentrated equity and 10b5-1 strategies
- Trust and estate planning for U.S. and non-U.S. persons
- Cross-border tax and asset structuring
- Philanthropic and legacy planning
Global Perspective
Fluent in English and Mandarin, and grounded in both Asian and U.S. business cultures, we serve as a strategic partner for globally mobile families navigating financial, legal, and generational complexity.
Our Commitment
Every family we serve is unique. Our role is to listen carefully, advise thoughtfully, and deliver with precision so our clients can focus on what matters most: building businesses, supporting family, and shaping lasting legacies.
We look forward to learning more about your goals and how we may serve you.
Recognition
The Tony Zhang Group has been recognized by:
- Forbes Best-In-State Wealth Advisors (2021–2026)
- Forbes America's Top Next-Gen Wealth Advisors (2020–2024)
- Forbes Best-In-State Wealth Management Teams (2024–2026)
Disclosures
2021-2026 Forbes Best-In-State Wealth Advisors. Source: Forbes.com (Awarded 2021-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2020-2024 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 2020-2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
2024-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2024-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
About PWM
Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
- Manage investments with an unwavering focus on your financial strategy and personal goals
- Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
- Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
- Approximately 300 teams specialized in assisting individuals and families with $20MM+ in investable assets
- Over $1.2 trillion in AUM
- Comprising 26% of the Barron’s Top 100 Financial Advisors list for 2025
- Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, September 2025
Source: Barron's (Awarded March 2025) This ranking was determined based on an evaluation process conducted by Barron's for the period Oct 2023-Sept 2024. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to Barron's to obtain or use the ranking. This ranking is based on an algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the assessment of Barron's and may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
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.
Working With You and Our Clients
The Tony Zhang Group works with clients who have achieved levels of wealth that generate complex, multigenerational planning issues. We work intimately with them to develop a customized blueprint to help grow and preserve their assets. We often work with their attorneys, CPAs and other advisors to create effective trust and estate structures. We provide access to experts in estate planning, philanthropy management and a broad range of advisory services related to the affluent lifestyle. Our overall objective is not only to help our clients enhance and protect their wealth, but also to use that wealth to support the lives they want to live and secure the legacies they want to leave.
Private Equity Principals Brochure
Successful private equity careers tend to proceed in asymmetrical fashion. Substantial gain may follow considerable setbacks. Success itself tends to create concentration risks that may leave highly sophisticated investors in need of supplemental investment advice outside their areas of expertise.
Morgan Stanley Equity Solutions
Equity is more than shares. It's a commitment to your employees. That's why we design equity compensation solutions that can grow alongside your business and people at any stage. With tailored solutions, modern technology, hands-on guidance and dedicated service, we help you effectively administer equity while managing risk and compliance on a global scale.
Alternative Investments
Our leading alternatives platform offers 200+ third-party and proprietary funds, including first look and exclusive opportunities, that may help qualified investors enhance returns, reduce volatility, manage taxes and generate income. From simplified vehicles available more broadly to institutional strategies, the platform supports a goals-based approach for asset allocation tailored to investor needs.
Pre-IPO Planning Placemat
Whether you intend to fully liquidate your holdings or maintain exposure, we can help you create strategies based on their objectives.
Location
55 South Lake Ave
Ste 700
Pasadena, CA 91101
US
Direct:
(626) 449-1240(626) 449-1240
Meet The Tony Zhang Group
Annie Yu
Assistant Vice President, Portfolio Associate
Phone:
(626) 524-8995(626) 524-8995
Ashley Ji
International Country Market Specialist
Phone:
(626) 584-3453(626) 584-3453
Sam He
Client Service Associate
Phone:
(626) 584-3479(626) 584-3479
Gloria Chen, CRPS®, ChFC®
Wealth Management Associate
Phone:
(626) 584-3449(626) 584-3449
About Tony Zhang
Tony Zhang is a Managing Director, Private Wealth Advisor, and Founders Specialist in Morgan Stanley’s Private Wealth Management division. He advises ultra-high-net-worth families, founders, and entrepreneurs on complex cross-border wealth management and family office solutions, with a particular focus on clients with ties to the U.S. and Greater China.
Tony and his team deliver a virtual family office experience, specializing in customized global investment strategies, pre-liquidity and liquidity-event planning, trust and estate structuring, and multi-generational wealth transfer. Their approach is designed to help clients manage complexity, preserve capital, and build enduring legacies across generations.
Fluent in English and Mandarin, Tony brings deep cross-cultural perspective to his work and serves as a strategic bridge for globally mobile families navigating international business, legal, and generational considerations. He is also a member of Morgan Stanley’s International Wealth Management (IWM) Advisory Council, representing the Greater China region, where he serves as a culture ambassador and contributes to business development, growth strategy, and product-solution initiatives.
Tony has been recognized by Forbes as a Best-In-State Wealth Advisor (2021–2026) and a Top Next-Gen Wealth Advisor in America (2020–2024).
Born and raised in China, Tony came to the United States to earn his MBA from the University of Southern California. He remains actively involved with USC and serves on the Board of Governors of the USC Alumni Association. Together with his wife, Tony established the Tony and Shirley Zhang Family Endowed Scholarship Fund at USC.
Disclosures:
2021-2026 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2021-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2020-2024 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 2020-2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Tony and his team deliver a virtual family office experience, specializing in customized global investment strategies, pre-liquidity and liquidity-event planning, trust and estate structuring, and multi-generational wealth transfer. Their approach is designed to help clients manage complexity, preserve capital, and build enduring legacies across generations.
Fluent in English and Mandarin, Tony brings deep cross-cultural perspective to his work and serves as a strategic bridge for globally mobile families navigating international business, legal, and generational considerations. He is also a member of Morgan Stanley’s International Wealth Management (IWM) Advisory Council, representing the Greater China region, where he serves as a culture ambassador and contributes to business development, growth strategy, and product-solution initiatives.
Tony has been recognized by Forbes as a Best-In-State Wealth Advisor (2021–2026) and a Top Next-Gen Wealth Advisor in America (2020–2024).
Born and raised in China, Tony came to the United States to earn his MBA from the University of Southern California. He remains actively involved with USC and serves on the Board of Governors of the USC Alumni Association. Together with his wife, Tony established the Tony and Shirley Zhang Family Endowed Scholarship Fund at USC.
Disclosures:
2021-2026 Forbes Best-In-State Wealth Advisors
Source: Forbes.com (Awarded 2021-2026). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2020-2024 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 2020-2024). Data compiled by SHOOK Research LLC based on 12-month period concluding in Mar of the year the award was issued.
Securities Agent: MD, PA, CO, CA, VI, TX, MA, FL, DE, VA, NY, SD, WA, NJ, DC, NV, MI, HI, AK, NC; General Securities Representative; Investment Advisor Representative
NMLS#: 1275669
CA Insurance License #: 0M76595
NMLS#: 1275669
CA Insurance License #: 0M76595
About Annie Yu
Annie Yu brings over three decades of wealth management industry experience to the service of the team’s clients. Working to deliver an outstanding overall experience, Annie enhances client relationships by proactively resolving issues and responding promptly and professionally to requests. Her strong work ethic, extensive knowledge and experience working with international clients are of great value in addressing the complex needs of the team’s highly affluent overseas clients.
Annie began her career as a registered client associate at Prudential Securities. She moved on to Wells Fargo Securities, joined Morgan Stanley in 2008 and became a member of the Tony Zhang Group (PWM) in 2021. Annie graduated from the University of Southern California with a degree in finance. She speaks fluent Mandarin, Cantonese, and English.
At leisure, Annie enjoys cooking and Chinese Opera singing.
Annie began her career as a registered client associate at Prudential Securities. She moved on to Wells Fargo Securities, joined Morgan Stanley in 2008 and became a member of the Tony Zhang Group (PWM) in 2021. Annie graduated from the University of Southern California with a degree in finance. She speaks fluent Mandarin, Cantonese, and English.
At leisure, Annie enjoys cooking and Chinese Opera singing.
About Ashley Ji
Aiming to address each client’s specific needs, Ashley Ji provides client and operational support for ultra-high net worth relationships, including account opening and ongoing maintenance, as well as market and investment research and analysis. She also partners with Tony to help manage the team’s branding and marketing efforts, supporting both digital and traditional initiatives, and is committed to delivering a consistently elevated client experience.
Fluent in Mandarin and English, Ashley is a proud “double Trojan,” having earned an M.S. in Finance and a B.A. in Political Science from the University of Southern California. Outside of the office, she enjoys traveling, Pilates, and spending time with family and friends—and her friends’ cats.
Fluent in Mandarin and English, Ashley is a proud “double Trojan,” having earned an M.S. in Finance and a B.A. in Political Science from the University of Southern California. Outside of the office, she enjoys traveling, Pilates, and spending time with family and friends—and her friends’ cats.
Securities Agent: CA, CO, SD, PA, NY, DC, MD, FL, MI, AK, TX, MA, NC, WA, VA, NV, DE, VI, NJ, HI; General Securities Representative; Investment Advisor Representative
About Sam He
Lending from his experience in competitive golf, Sam brings strong work ethic and professionalism. He leverages his knowledge and skills to provide comprehensive services to the clients. Sam is supporting the team in various operational tasks, as well as investment research. He is committed to delivering exceptional client experience and maximizing value through his work.
While being fluent in Mandarin and English, Sam is also able to communicate in Japanese and understand some Cantonese. He graduated from University of California, Riverside’s A. Gary Anderson Business school with a MS in Finance and a BS in Economics while serving as captain of the golf team. Sam enjoys playing sports on weekends. He also enjoys watching baseball, motor racing, and playing chess.
While being fluent in Mandarin and English, Sam is also able to communicate in Japanese and understand some Cantonese. He graduated from University of California, Riverside’s A. Gary Anderson Business school with a MS in Finance and a BS in Economics while serving as captain of the golf team. Sam enjoys playing sports on weekends. He also enjoys watching baseball, motor racing, and playing chess.
About Gloria Chen
Gloria is a Wealth Management Associate and relationship manager who supports the team with client onboarding and ongoing service, including account maintenance, wires, transfers, and internal journals. She has experience opening domestic and international accounts across a range of structures, including retirement accounts, trusts, and corporate entities, and assists with implementing and monitoring clients’ financial plans. She also supports corporate retirement plan sponsors with enrollment meetings and plan servicing.
Gloria has been in the financial services industry since 2010 and joined Morgan Stanley in 2019. She holds the CRPS® and ChFC® designations and maintains FINRA Series 7 and Series 66 licenses. She is fluent in Mandarin and English and conversational in Cantonese. Outside of work, she enjoys exercising, crafting, and cooking.
Gloria has been in the financial services industry since 2010 and joined Morgan Stanley in 2019. She holds the CRPS® and ChFC® designations and maintains FINRA Series 7 and Series 66 licenses. She is fluent in Mandarin and English and conversational in Cantonese. Outside of work, she enjoys exercising, crafting, and cooking.
Contact Tony Zhang
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Managing Significant Wealth
- Investment Management
- Wealth Transfer & Philanthropy
- Cash Management & Lending
- Family Governance & Wealth Education
- Lifestyle Advisory
- Business Services
Insights and Outcomes
Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
Private Wealth Management Podcast
Bringing you engaging stories and key insights surrounding the complexities associated with significant wealth, including:
- Intergenerational Planning
- Philanthropic Giving
- Non-Traditional Assets
- Managing Family Wealth
We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Morgan 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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan 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
Awards Disclosures | Morgan Stanley
Morgan 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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan 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
Awards Disclosures | Morgan Stanley
CRC 4677197 (7/2025)