Executive Director, Wealth Management, Financial Advisor, Senior Investment Management Consultant, Insurance Planning Director
Phone:
(617) 570-9432(617) 570-9432
The TopSail Group at Morgan Stanley
Direct:
(617) 570-9432(617) 570-9432
Toll-Free:
(800) 235-1205(800) 235-1205
Our Mission Statement
Maximizing client value by utilizing unique tax-efficient solutions for highly appreciated portfolios.
Welcome
We believe success in achieving important financial goals starts with a comprehensive wealth strategy. We will help you define what is most important to you and then formulate the strategies that are suited for your needs, whether you are accumulating wealth, selling a business, or investing for income, solidifying your retirement plan or devising a distribution approach that meets your lifestyle and legacy goals. Our Investment Banking Services combined with our Wealth Management team, can assist you in protecting your hard earned wealth or passing it on to the next generation.
Services Include
- Business Succession PlanningFootnote1
- Corporate Retirement PlansFootnote2
- Corporate Cash Management
- Trust Services*
- Retirement PlanningFootnote3
- AnnuitiesFootnote4
- Trust AccountsFootnote5
- Financial PlanningFootnote6
- 401(k) Rollovers
- Business PlanningFootnote7
- Corporate Trust Services
- Endowments and FoundationsFootnote8
- Estate Planning StrategiesFootnote9
- Defined Contribution PlansFootnote10
- Executive Financial ServicesFootnote11
- Municipal BondsFootnote12
- Qualified Retirement PlansFootnote13
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Family Office
Redefining Family Office
Your family is unlike any other we have ever served. You may, however, share many of the same questions, challenges and opportunities. We look forward to learning more about you and your family, and discussing how we can help you safeguard what you have earned and pursue your most important life goals. We deliver an exceptionally attentive level of service and dedicate ourselves to finding solutions to the challenges our clients face, even those challenges that fall well outside the traditional role of wealth managers.
Family Governance and Education
Too often, members of rising generations spend decades in silence. Having a mechanism in place such as a family mission statement, a family constitution or an investment policy statement can offer critical parameters and guidelines to make decisions as a collective. We work with you to find your way to becoming your own generation, with your own voice.
Investment Policy
Trust and Estate Planning and Business Succession
The key to determining which trust, tax and estate strategies to execute is to understand the interplay of personal and exogenous factors. Liquidity events such as an initial public offering or a merger or acquisition may provide income and estate planning opportunities. Liquidity events also magnify the need to put in place or update certain essential estate planning documents.
Learn More
Lifestyle Services
The enjoyment of wealth means the most powerful benefits of a family office is the potential to help family members simplify their personal lives. We provide bespoke solutions and access to knowledgeable, highly personal specialists to help meet
your exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
Signature Access Elevate and Enrichyour exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
Philanthropic Advisory
Believing that philanthropy must be more than checkbook writing, involved and engaged donors want to feel a connection and offer advice and input above and beyond money. Perhaps you want to use philanthropy to instill values in your children, or you want to apply your business acumen to philanthropy. Maybe it is the grassroots-type of organizations that inspire you. Holding philanthropic conversations with our team and your family to discuss values, motivations, visions and to develop a mission statement is an effective step to achieving long term philanthropic engagement. Deciding on what level of visibility you want, what type of program to support and how long you envision your involvement to last, are your matters that matter to us.
Charitable Giving at a Glance
Art Advisory
Whether you have inherited a valuable collection or built one of your own, the stewardship of fine art and collectibles presents an extensive range of formidable challenges. These unregulated markets can be confusing, fragmented and inefficient. With experienced art advisors at your side, you have the guidance you need to avoid pitfalls and the expertise to manage your collection as the significant asset it is.
MSWM Art AdvisoryAlternative Investment Resources
Alternative Investments Glossary
If you are unsure about what an Alternative Investment is or how you could be using them as an investment tool, please make use of the Alternative Investment Glossary.
Click for Alternative Investments Glossary
Private Real Estate
Private Credit and Equity
Hedge Funds
Exchange Funds
Custom Solutions
What are your hopes and dreams?
Our approach to wealth planning focuses on what is most meaningful to you.
Whether meeting with you for the first time or reviewing your progress and life goals, this is our priority.
Leveraging our vast resources—including intellectual capital, experience and dedicated personal service—we can work with you to create a personalized wealth strategy. Our 4 step approach to Wealth Management is formal yet flexible. Over time, we can adapt it to changing circumstances, helping you to achieve—and to protect—your goals.
DISCOVER
Our relationship begins with a thorough understanding of you – your needs, your lifestyle and family, and your goals for the future.
CREATE
We work with you to develop a roadmap to help you achieve and protect the outcomes you envision.
ACT
Next, we can help you implement investment, retirement, trust services, lending, cash management and insurance solutions suited to your needs.
ADJUST
Achieving your goals requires vigilance and flexibility. We’ll help you monitor your progress and make adjustments as life evolves, markets and tax laws shift, and priorities change.
Whether meeting with you for the first time or reviewing your progress and life goals, this is our priority.
Leveraging our vast resources—including intellectual capital, experience and dedicated personal service—we can work with you to create a personalized wealth strategy. Our 4 step approach to Wealth Management is formal yet flexible. Over time, we can adapt it to changing circumstances, helping you to achieve—and to protect—your goals.
DISCOVER
Our relationship begins with a thorough understanding of you – your needs, your lifestyle and family, and your goals for the future.
CREATE
We work with you to develop a roadmap to help you achieve and protect the outcomes you envision.
ACT
Next, we can help you implement investment, retirement, trust services, lending, cash management and insurance solutions suited to your needs.
ADJUST
Achieving your goals requires vigilance and flexibility. We’ll help you monitor your progress and make adjustments as life evolves, markets and tax laws shift, and priorities change.
Managing Investments
We take care of your retirement accounts and other investments based on your comfort level with risk and your current tax circumstances, tailoring your financial strategy to your unique situation, needs, and goals.
Estate Planning Strategies
Regardless of your current financial circumstances, it is crucial to have a backup plan for your money. We regularly review your finances with you and coordinate with your estate attorney to help ensure that your wishes are met in the most efficient and cost-effective way possible.
Retirement
Leading up to and through retirement, Cornerstone Capital helps you identify the most appropriate ways to obtain the income you need and help ensure that you are on track to achieve for financial goals.
Insurance
We take an extremely close look at your financial profile to decipher what type(s) of insurance most fit your needs, and determine if your current insurance policies are best suited for you and your goals.
GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Read The Latest Report
On The Markets Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
Read The Latest ReportLocation
28 State Street
Fl
Boston, MA 02109
US
Direct:
(617) 570-9432(617) 570-9432
Toll-Free:
(800) 235-1205(800) 235-1205
Meet The TopSail Group
Senior Vice President, Wealth Management, Financial Advisor, Insurance Planning Director, Portfolio Manager, Financial Planning Specialist
Phone:
(617) 570-9578(617) 570-9578
Phone:
(617) 570-9431(617) 570-9431
Diane M. DeBellis
Senior Client Service Associate
Phone:
(617) 570-9521(617) 570-9521
About Steven W. Hiorns
Steve Hiorns is an Executive Director, Insurance Planning Director, Senior Investment Management Consultant, and Financial Advisor at Morgan Stanley. He has been with Morgan Stanley and its predecessor firms of Smith Barney and Dean Witter for over 4 decades. As the founder of the Hiorns Group, Steve’s primary responsibly includes advising executives and founders with large appreciated and concentrated stock positions. In a tax efficient manner, Steve helps clients diversify and sell these stock positions by carefully structuring a plan. He then identifies wealth conservation and alterative income strategies tailored to each client. Steve also advises corporations with trust services, corporate retirement plans, business succession planning, and executive financial services.
Steve holds the Insurance Planning Director (IPD) designation. Recipients of the IPD designation have demonstrated a commitment to, and understanding of, holistic goals-based wealth management planning through the incorporation of insurance solutions into their practice as a foundational component of risk management. A member of the Director’s Council and Annuity and Insurance Advisory Council at Morgan Stanley LLC, Steve currently holds the FINRA Series 7, 63, 65, 66, and 31. Steve is also licensed in Life, Health, and Variable Insurance.
Steve received a B.A. in Economics from the College of the Holy Cross in Worcester, MA in 1980. He was a member of the Varsity football team for four years and a member of the Lacrosse team for one year. Steve is an avid golfer and a member of several prestigious golf clubs worldwide including here in the United States. He currently resides in a suburb of Boston. Steve enjoys playing golf, traveling, and spending time with his wife Liz.
Steve holds the Insurance Planning Director (IPD) designation. Recipients of the IPD designation have demonstrated a commitment to, and understanding of, holistic goals-based wealth management planning through the incorporation of insurance solutions into their practice as a foundational component of risk management. A member of the Director’s Council and Annuity and Insurance Advisory Council at Morgan Stanley LLC, Steve currently holds the FINRA Series 7, 63, 65, 66, and 31. Steve is also licensed in Life, Health, and Variable Insurance.
Steve received a B.A. in Economics from the College of the Holy Cross in Worcester, MA in 1980. He was a member of the Varsity football team for four years and a member of the Lacrosse team for one year. Steve is an avid golfer and a member of several prestigious golf clubs worldwide including here in the United States. He currently resides in a suburb of Boston. Steve enjoys playing golf, traveling, and spending time with his wife Liz.
Securities Agent: AZ, WI, VA, OR, ME, MA, WA, VT, TX, OH, NC, IA, DE, CT, KY, GA, NJ, CA, NH, FL, NY, NV, HI, RI, MD, IN, PA, MO, IL, CO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1393582
NMLS#: 1393582
About William Bellerose
Bill Bellerose is a First Vice President, Portfolio Manager, Insurance Planning Director, Financial Advisor, and Financial Planning Specialist at Morgan Stanley. He has been with Morgan Stanley since 2010 and is one of the partners of The TopSail Group. Bill’s primary role is to advise clients on all aspects of wealth management including professional investment management, financial planning, retirement income planning, risk management, and estate planning. Bill also advises corporations with trust services, corporate retirement plans, stock plan services, and concentrated stock diversification for executives. Working with many families around the globe, Bill helps create and monitor retirement income plans for folks no longer working.
Bill was named to the Morgan Stanley Annuity & Insurance Advisory Council in 2018 as one of its youngest members in history. Bill also holds the Insurance Planning Director (IPD) designation. Recipients of the IPD designation have demonstrated a commitment to, and understanding of, holistic goals-based wealth management planning through the incorporation of insurance solutions into their practice as a foundational component of risk management. In 2020 he was named to Morgan Stanley's prestigious Pacesetter's Club, an elite group composed of the firm's successful Financial Advisors. In 2022 he was promoted to First Vice President of Wealth management at Morgan Stanley. In 2024, Bill was recognized by Forbes as being a Top Next-Gen Wealth Advisor Best-In-State for Massachusetts. He currently holds the FINRA Series 7, 66, and 31 licenses and is Life, Variable Life, and Variable Annuity licensed.
Bill graduated from the College of the Holy Cross in Worcester, MA with a B.A. in Economics. He currently resides in Central Massachusetts with his wife Gabriella, daughter Olivia, and son Dominic. Bill enjoys spending time with his friends and family, boating, hunting, fishing, and supporting Holy Cross athletics.
[Source: Forbes (Awarded August 2024). Data compiled by SHOOK Research based on time period from Mar 2023-Mar 2024.]
Bill was named to the Morgan Stanley Annuity & Insurance Advisory Council in 2018 as one of its youngest members in history. Bill also holds the Insurance Planning Director (IPD) designation. Recipients of the IPD designation have demonstrated a commitment to, and understanding of, holistic goals-based wealth management planning through the incorporation of insurance solutions into their practice as a foundational component of risk management. In 2020 he was named to Morgan Stanley's prestigious Pacesetter's Club, an elite group composed of the firm's successful Financial Advisors. In 2022 he was promoted to First Vice President of Wealth management at Morgan Stanley. In 2024, Bill was recognized by Forbes as being a Top Next-Gen Wealth Advisor Best-In-State for Massachusetts. He currently holds the FINRA Series 7, 66, and 31 licenses and is Life, Variable Life, and Variable Annuity licensed.
Bill graduated from the College of the Holy Cross in Worcester, MA with a B.A. in Economics. He currently resides in Central Massachusetts with his wife Gabriella, daughter Olivia, and son Dominic. Bill enjoys spending time with his friends and family, boating, hunting, fishing, and supporting Holy Cross athletics.
[Source: Forbes (Awarded August 2024). Data compiled by SHOOK Research based on time period from Mar 2023-Mar 2024.]
Securities Agent: ME, MD, IA, VT, PA, MO, HI, AZ, NJ, NC, GA, FL, NY, MA, WA, TX, SC, CT, CA, RI, NH, IN, NV, KY, IL, WI, OR, OH, KS, DE, CO, VA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1393587
NMLS#: 1393587
About James C Bee
Securities Agent: DE, VT, IL, HI, FL, CT, CA, OH, NY, MA, NC, ME, IA, WA, RI, PA, OR, MO, MI, NJ, CO, NV, MD, KY, TX, NH, GA, AZ, VA, IN, WI; General Securities Principal; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 177254
NMLS#: 177254
About Diane M. DeBellis
Diane runs the operations for the team. Her primary functions include client service, administration, practice management, and Financial Advisor support. Most importantly, she maintains positive client relationships and experiences through proactive attention to and assistance with the client’s everyday financial needs.
Diane has worked with Morgan Stanley and its predecessor firm for over 4 decades and has worked directly with Steve Hiorns for over 3 decades.
Diane graduated from Katharine Gibbs in 1981. She currently resides in a suburb of Boston with her husband, Mark and daughter Amanda. Diane enjoys the beach, and spending time with friends and family.
Diane has worked with Morgan Stanley and its predecessor firm for over 4 decades and has worked directly with Steve Hiorns for over 3 decades.
Diane graduated from Katharine Gibbs in 1981. She currently resides in a suburb of Boston with her husband, Mark and daughter Amanda. Diane enjoys the beach, and spending time with friends and family.
Contact Steven W. Hiorns
Contact William Bellerose
Contact James C Bee
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
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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Ready to start a conversation? Contact The TopSail Group today.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 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.
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 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, charitable giving, philanthropic planning and other legal matters.
9Morgan 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.
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.
11Morgan 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.
12Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
13When 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.
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.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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 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.
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 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, charitable giving, philanthropic planning and other legal matters.
9Morgan 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.
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.
11Morgan 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.
12Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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Awards Disclosures
CRC 6491812 (04/2024)
