Scott McCoy, CFP®
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, Corporate Cash Investment Director, International Client Advisor
Phone:
(561) 694-7021(561) 694-7021
The Tribeca Group at Morgan Stanley
Scott McCoy, CFP®Jordan B Eisenberg, CFA®Yunjin Lee, CFA, CMAWilliam M. WilsonMichael ClarkPat Penfield, CIMA®
Direct:
(212) 893-6445(212) 893-6445
Toll-Free:
(888) 322-2327(888) 322-2327
Our Mission Statement
Helping Clients to Manage, Grow and Protect Their Wealth while Creating Income Solutions for Life.
The Tribeca Group
The Tribeca Group at Morgan Stanley is a group dedicated to providing professional investment management services to the clients of Morgan Stanley. As designated National Strategic Partners, we work closely with the finest comprehensive wealth management professionals and subject matter experts that the Firm has to offer.
$8.5 BILLION+ IN CLIENT ASSETS (1)
- Municipal and Taxable Fixed Income Strategies
- Cash Management Strategies
- Tailored Alternative Investment Solutions
100+ YEARS OF COMBINED INVESTMENT EXPERIENCE (2)
- Group is comprised of 7 investment professionals, including 2 Senior Portfolio Management Directors and a dedicated Research/Credit Analyst.
500+ FINANCIAL ADVISOR PARTNERS SERVICING
- High Net Worth Individuals
- C-Suite Executives
- Not-For-Profit Entities
- Fortune 1000 Companies
DESIGNATED MORGAN STANLEY
- Corporate Cash Investment Director
- International Wealth Advisor
- National Strategic Partner
(1) Statistics as of JUN 24, 2026
(2) Individual years of experience listed in bios
$8.5 BILLION+ IN CLIENT ASSETS (1)
- Municipal and Taxable Fixed Income Strategies
- Cash Management Strategies
- Tailored Alternative Investment Solutions
100+ YEARS OF COMBINED INVESTMENT EXPERIENCE (2)
- Group is comprised of 7 investment professionals, including 2 Senior Portfolio Management Directors and a dedicated Research/Credit Analyst.
500+ FINANCIAL ADVISOR PARTNERS SERVICING
- High Net Worth Individuals
- C-Suite Executives
- Not-For-Profit Entities
- Fortune 1000 Companies
DESIGNATED MORGAN STANLEY
- Corporate Cash Investment Director
- International Wealth Advisor
- National Strategic Partner
(1) Statistics as of JUN 24, 2026
(2) Individual years of experience listed in bios
Services Include
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Our Suite of Services
As your wealth grows, so does its complexities and the resources needed to manage it effectively. We leverage our experience and relationships to deliver innovative strategies that are tailored to your needs. We look forward to speaking with you to understand your challenges, so we may map out a strategy to achieve your particular priorities and goals.
Wealth Management
Wealth Management brings all the dimensions of your life together. We listen carefully to understand the connections across your personal life, your family, your career and your legacy goals to develop a comprehensive strategy that is uniquely yours.
Retirement Planning
One of our key areas of focus is helping you prepare for and thrive in retirement. From IRAs to RMDs, we manage the complexities of your comprehensive retirement plan assets, helping you easily transition to the next phase of your life with security and confidence.
Professional Portfolio Management
Managing an investment portfolio should be a consultative, disciplined process that balances your attitudes about investing with careful analysis of the financial markets. Working together, we create a customized strategy that applies long-held investment principles to help your assets appreciate appropriately or generate cash-flow or income as you require.
Alternative Investments
Morgan Stanley’s global network affords us the ability to offer suitable clients a wide array of alternative investments to consider – from private equities and exchange funds to hedge funds and real estate investments. Our recommendations are based on your own goals and your tolerance for investment risk.
Cash Management Services
Creating adequate cash flow and securing liquidity are day-to-day aspects of implementing a financial strategy. We help you meet your personal cash management and borrowing needs, while thinking strategically about how specific approaches may affect current and long-term costs and taxes.
Estate Planning & Philanthropic Strategies
Delivering an estate to the next generation or favorite charity requires more attention than families often realize. We coordinate with your estate and tax professionals to align your legacy goals with the appropriate asset titling and beneficiary designation requirements, incorporating best practices to help enhance results.
Short Duration Municipal Bond Strategy
The Short Duration Municipal Bond Strategy's primary objective is to generate current income in a tax efficient manner while preserving capital. The portfolio primarily invests along the front-end of the yield curve in general obligation bonds issued by states and established local communities, revenue bonds, and bonds issued by special tax districts. Only issuers rated A3/A or higher are considered at time of purchase. Geographic exposures are customized for clients residing in high tax jurisdictions. All holdings are US$ denominated.
Click Here to View The StrategyNational Tax-Exempt Municipal Bond Strategy
The National Tax-Exempt Municipal Bond Strategy's primary objective is to generate current income in a tax efficient manner while preserving capital. The portfolio primarily invests across the curve in general obligation bonds issued by states and established local communities, revenue bonds, and bonds issued by special tax districts. Only issuers rated A3/A or higher are considered at time of purchase. Geographic exposures are customized for clients residing in high tax jurisdictions. All holdings are US$ denominated.
Click Here to View The StrategyMunicipal Preferred Bond Strategy
The Municipal Preferred Strategy’s primary objective is to generate a high level of tax-efficient current income while preserving capital. the portfolio primarily invests in tax-exempt municipal bonds, including both general obligation and revenue bonds rated A3/A or higher at time of purchase. The portfolio will also invest in Qualified Dividend Income “QDI” Preferred securities and have no bonds rated below B2/B at time of purchase. All holdings are US$ denominated.
Click Here to View The StrategyUltra Short Governement Strategy
The Ultra-Short Government Strategy has a primary objective of preservation of principal along with a secondary goal of income generation. The portfolio invests in U.S. Treasury, Agency and Government Sponsored Entity (GSE) securities. The portfolio targets maturities in the 0-13 month range. All holdings are US$ denominated.
Click Here to View The Strategy1-5 Year Government Strategy
The 1-5 Year Government Strategy has a primary objective of
preservation of principal along with a secondary goal of
income generation. The portfolio invests in U.S. Treasury,
Agency and Government Sponsored Entity (GSE) securities.
The portfolio targets maturities in the 0-60 month range. All
holdings are US$ denominated.
Click Here to View The Strategypreservation of principal along with a secondary goal of
income generation. The portfolio invests in U.S. Treasury,
Agency and Government Sponsored Entity (GSE) securities.
The portfolio targets maturities in the 0-60 month range. All
holdings are US$ denominated.
1 For 1 Short Duration Bond Strategy
The “1 For 1” Short Duration Bond Strategy has a primary objective of preservation of principal along with a secondary goal of income generation. The portfolio invests primarily in investment grade corporate bonds and U.S. Treasury and agency securities. The portfolio targets a weighted average maturity of approximately 1 year. All holdings are US$ denominated.
Click Here to View The StrategyStrategic Short Duration Bond Strategy
The Strategic Short Duration Bond Strategy has a primary objective of preservation of capital along with a secondary goal of income generation. The portfolio invests primarily in investment grade and high yield corporate bonds with no maturity longer than 3 years. The portfolio will seek an overall credit rating of Baa2/BBB or higher and will not invest in any security rated below B2/B at time of purchase. All holdings are US$ denominated.
Click Here to View The StrategyInvestment Grade Corporate Bond Strategy
The Investment Grade Corporate Bond Strategy seeks to provide a stable level of current income with a secondary goal of capital appreciation. The portfolio will invest in domestic and international high quality investment grade corporate bonds and will target up to a 30% allocation to investment grade corporate floating rate bonds. The portfolio is expected to maintain a weighted average maturity of 3-7 years. Maximum industry sector concentration of 30%. All holdings are US$ denominated.
Click Here to View The StrategyStrategic Corporate Bond Strategy
The Strategic Corporate Bond Strategy’s primary objective is to seek current income with a secondary goal of capital appreciation. The portfolio is primarily invested in investment grade and high yield corporate bonds rated B2/B or higher at the time of purchase. The portfolio will target no more than 50% to bonds rated below Baa3/BBB-. The portfolio will also invest in investment grade corporate floating rate bonds. Maximum industry sector concentration of 30%. All holdings are US$ denominated.
Click Here to View The StrategyLimited Duration High Yield Corporate Bond Strategy
The Limited Duration High Yield Corporate Bond Strategy seeks to provide a high level of current income by investing in a diversified portfolio of corporate bonds seeking an overall portfolio rating of Ba3/BB- and no bonds rated below B2/B at time of purchase. The strategy's secondary objective of total return is pursued by investing in high quality securities that offer the opportunity for price appreciation. The fund is benchmarked against the Citigroup High Yield Market Index*** (avg. life 5 years or less). Maximum industry sector concentration of 30%. All holdings are US$ denominated.
Click Here to View The StrategyPreferred Securities Income Strategy
The Preferred Securities Income Strategy seeks to provide a high level of current income plus price appreciation by investing in a diversified portfolio of preferred corporate securities. The strategy targets a minimum overall credit rating of Baa3/BBB- with no bonds rated below B2/B at time of purchase. All holdings are US$ denominated.
Click Here to View The StrategyStrategic Preferred Securities Income Strategy
The Strategic Preferred Securities Income Strategy's primary objective is to seek current income with a secondary goal of capital appreciation. The portfolio is primarily invested in U.S. investment grade and high yield corporate bonds as well as preferred securities rated B2/B or higher at the time of purchase. All holdings are US$ denominated.
Click Here to View The StrategyAt Morgan Stanley, we provide clients with resources meant to transform complex financial analysis and research into concise and easily digestible content. The links below offer insight into the modern market and economic landscape.
Philanthropic Planning
Your set of Philanthropic objectives is as personal as your vision of a better world. Determining your objectives however, can be challenging when there are so many worthy causes and so many unmet needs.
Learn More
Estate Planning Strategies
Working with our wealth centers team we look at all aspects of an individual's estate to understand the potential estate planning attributes of the vehicles. The goal is to make more informed investment decisions for the client by looking at their estate plan holistically.
Learn More
Signature Access: Reserved Living & Giving
Signature Access, the highest tier of Morgan Stanley’s complimentary loyalty program Reserved Living & Giving, gives clients with $10 million or more in assets at the firm access to world class services such as Private Health Advisory, Personal Cybersecurity Services, Aircraft Management and more in addition to all the discounts and content available through Reserved Living & Giving.
Learn More
GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Learn More
Thoughts On The Market Podcast
With perspectives on the forces shaping the market, join Mike Wilson, Chief Investment Officer and Chief US Equity Strategist for Morgan Stanley, as he and his colleagues discuss a variety of viewpoints regarding the latest trends in the financial marketplace.
Learn MoreOur Portfolio Management Team:
Leveraging the team’s institutional background and 100+ years* of combined fixed income experience, we deliver a comprehensive suite of fixed income solutions and services. We offer 9 different model portfolios as well as customized solutions for larger and unique situations. In addition, we can provide firm-calculated composite performance history for our model portfolios.
As Corporate Cash Investment Directors and International Client Advisors we service a wide range of clients including institutions, high net worth individuals and professional advisors. We trade as agent giving us access to full street inventories. We have the ability to trade in size and leverage our broker/dealer relationships for best possible execution. Most importantly, we ACT in your best interest by offering:
1) Access: to our Portfolio Managers not salespeople;
2) Customization: for larger (+$3mm) opportunities; and
3) Transparency: identifiable individual bond holdings
We are the Tribeca Group – your resource for professional, collegial fixed income management.
As Corporate Cash Investment Directors and International Client Advisors we service a wide range of clients including institutions, high net worth individuals and professional advisors. We trade as agent giving us access to full street inventories. We have the ability to trade in size and leverage our broker/dealer relationships for best possible execution. Most importantly, we ACT in your best interest by offering:
1) Access: to our Portfolio Managers not salespeople;
2) Customization: for larger (+$3mm) opportunities; and
3) Transparency: identifiable individual bond holdings
We are the Tribeca Group – your resource for professional, collegial fixed income management.
Scott McCoy
Managing Director - Wealth Management/Senior Portfolio Management Director, Corporate Cash Investment Director, International Client Advisor, Strategic Partner, Financial Advisor. He brings over 30 years of fixed income experience to the Tribeca Group’s clients. Before joining the firm in 2008, Scott was a Senior Managing Director and institutional fixed income salesperson in the Middle Markets Group at Bear Stearns. Here, he served the fixed income needs of depository institutions, money managers, insurance companies, and hedge funds. Prior to that, he traded government bonds at Citicorp Securities where he was responsible for the short coupon sector. A graduate of Holy Cross College, Scott holds a J.D. from St. John's University and an M.B.A. from New York University.
Jordan Eisenberg, CFA®
Managing Director - Wealth Management/Senior Portfolio Management Director/Financial Advisor. He brings over 18 years of fixed income experience to the Tribeca Group’s clients. Before joining the firm, Jordan was an Associate Director at Bear Stearns where he helped institutional clients develop fixed income strategies utilizing high yield and investment grade corporate bonds, as well as interest rate products including treasuries and mortgage-backed securities. He holds the Chartered Financial Analyst® designation and is a member of the CFA Institute and the New York Society of Security Analysts. Jordan is a graduate of the University of Florida where he received a B.S. in Business Administration.
Yunjin Lee, CFA®
Senior Vice President - Investment Consultant/Portfolio Manager Specialist, providing in-depth fundamental and technical analysis of bonds. Yunjin has earned the prestigious Morgan Stanley Wealth Management Consulting Group Analyst designation and researches outside money managers whom we might recommend for various components of your portfolio. Yunjin joined Morgan Stanley Smith Barney in 2009 after working in Barclay Capital’s High Yield Credit Corporate Department as a trading desk and publishing analyst. Prior to that, she served as a strategy consultant at Bain & Co. She holds the Chartered Financial Analyst® designation and is a member of the CFA institute and the CFA Society New York. A graduate of Korea University, Yunjin received an M.B.A. from the Wharton School of the University of Pennsylvania.
Disclaimers:
Technical analysis is the study of past price and volume trends of a security in an attempt to predict the security's future price and volume trends. Its limitations include but are not limited to: the lack of fundamental analysis of a security's financial condition, lack of analysis of macroeconomic trend forecasts, the bias of the technician's view and the possibility that past participants were not entirely rational in their past purchases or sales of the security being analyzed. Investors using technical analysis should consider these limitations prior to making an investment decision.
Disclaimers:
Technical analysis is the study of past price and volume trends of a security in an attempt to predict the security's future price and volume trends. Its limitations include but are not limited to: the lack of fundamental analysis of a security's financial condition, lack of analysis of macroeconomic trend forecasts, the bias of the technician's view and the possibility that past participants were not entirely rational in their past purchases or sales of the security being analyzed. Investors using technical analysis should consider these limitations prior to making an investment decision.
William M. Wilson
Vice President- Portfolio Management Associate Director, bringing over 10 years of fixed income experience to The Tribeca Group’s clients. He works alongside Senior Portfolio Managers in executing The Tribeca Groups’ Fixed Income strategies and is responsible for trading, portfolio construction, portfolio and market analysis, and investment research. In addition, he provides institutional clients with investment ideas, trade execution, market color and research. Prior to joining The Tribeca Group, William was a Vice-President at Roosevelt & Cross, Inc., where he worked as a Fixed-Income Trader focusing on tax-exempt and taxable municipal bonds. He was responsible for developing trading desk strategies and analytics, managing broker-dealer relationships, and operating ECN trading platforms. He is a graduate of the Boston University Questrom School of Business where he received a B.S. in Business Administration and currently holds Series 7, 52, 53, 63, and 66 registrations.
AWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
399 Park Avenue
12th Floor
New York, NY 10022
US
Direct:
(212) 893-6445(212) 893-6445
Toll-Free:
(888) 322-2327(888) 322-2327
3801 PGA Blvd
Financial Center at The Gardens
Palm Beach Gardens, FL 33410
US
28 State Street
Boston, MA 02109
US
Meet The Tribeca Group
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, International Client Advisor, Corporate Cash Investment Director
Phone:
(212) 271-0445(212) 271-0445
Michael Clark
Senior Vice President, Wealth Management, Financial Advisor
Phone:
(212) 271-0449(212) 271-0449
Pat Penfield, CIMA®
Financial Advisor
Phone:
(212) 893-6445(212) 893-6445
Yunjin Lee, CFA, CMA
Senior Vice President, Investment Consultant/Portfolio Manager Specialist
Phone:
(212) 271-0681(212) 271-0681
William M. Wilson
Vice President, Portfolio Management Associate Director
Phone:
(212) 271-0443(212) 271-0443
Chris Lamberto, CFA
Assistant Vice President, Wealth Management Associate
Phone:
(212) 893-6433(212) 893-6433
About Scott McCoy
Scott McCoy, Managing Director - Wealth Management/Corporate Cash Investment Director/International Client Advisor/Senior Portfolio Management Director, is a member of Morgan Stanley’s 2023 Chairman's Club. Scott brings over 30 years of fixed income experience to The Tribeca Group’s clients.
Before joining the firm in 2008, Scott was a Senior Managing Director and institutional fixed income salesperson in the Middle Markets Group at Bear Stearns. There, he served the fixed income needs of institutional clients, including depository institutions, money managers, insurance companies, and hedge funds. Prior to that, he traded government bonds at Citicorp Securities where he was responsible for the short coupon sector.
A graduate of Holy Cross College, Scott holds a J.D. from St. John's University and an M.B.A. from New York University.
Before joining the firm in 2008, Scott was a Senior Managing Director and institutional fixed income salesperson in the Middle Markets Group at Bear Stearns. There, he served the fixed income needs of institutional clients, including depository institutions, money managers, insurance companies, and hedge funds. Prior to that, he traded government bonds at Citicorp Securities where he was responsible for the short coupon sector.
A graduate of Holy Cross College, Scott holds a J.D. from St. John's University and an M.B.A. from New York University.
Securities Agent: AK, VA, OK, OH, NH, VI, NY, MT, MD, IL, IA, WI, VT, RI, NJ, IN, DC, AR, SD, HI, CO, AZ, AL, MO, MA, ID, PA, ND, KY, KS, DE, CT, WA, NM, LA, TX, SC, PR, OR, NV, NC, MN, FL, NE, MS, WV, UT, TN, MI, ME, GA, CA, WY; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1285140
NMLS#: 1285140
About Jordan B Eisenberg
Jordan Eisenberg, CFA®, Managing Director - Wealth Management/Senior Portfolio Management Director, is a member of Morgan Stanley’s 2020 President’s Club. He brings over 18 years of financial markets experience to The Tribeca Group’s clients.
Before joining the firm, Jordan was an Associate Director at Bear Stearns, where he helped institutional clients develop fixed income strategies utilizing high yield and investment grade corporate bonds, as well as interest rate products including treasuries and mortgage-backed securities.
He holds the Chartered Financial Analyst® designation, and is a member of the CFA Institute and the New York Society of Security Analysts. Jordan was named to On Wall Street Magazine’s listing of “Top 40 Advisors Under 40” in both 2017 and 2018. Jordan is a graduate of the University of Florida where he received a B.S. in Business Administration.
Before joining the firm, Jordan was an Associate Director at Bear Stearns, where he helped institutional clients develop fixed income strategies utilizing high yield and investment grade corporate bonds, as well as interest rate products including treasuries and mortgage-backed securities.
He holds the Chartered Financial Analyst® designation, and is a member of the CFA Institute and the New York Society of Security Analysts. Jordan was named to On Wall Street Magazine’s listing of “Top 40 Advisors Under 40” in both 2017 and 2018. Jordan is a graduate of the University of Florida where he received a B.S. in Business Administration.
Securities Agent: SD, ME, MA, GA, CA, AZ, PA, IL, HI, UT, ID, DE, WI, SC, NY, LA, VT, TX, NV, MT, DC, CT, IN, AL, OR, OK, NJ, MO, KY, KS, IA, AR, VA, TN, RI, NM, NC, MN, MI, FL, CO, MS, WV, NE, WA, OH, NH, ND, AK, WY, PR, MD, VI; General Securities Representative; Investment Advisor Representative
NMLS#: 1282498
NMLS#: 1282498
About Michael Clark
Michael Clark is a Financial Advisor at Morgan Stanley. Michael has over 30 years experience in the financial services industry, working as a regional
representative for asset management companies including Smith Barney/Citigroup Asset Management, Legg Mason, and Eaton Vance Distributors. In joining the Tribeca Group in 2015, Michael is responsible for
managing the relationship between the Tribeca Group and the other
Financial Advisors at Morgan Stanley. He earned a BA in Economics from
UCLA and currently holds series 7, 63, and 65 registrations.
representative for asset management companies including Smith Barney/Citigroup Asset Management, Legg Mason, and Eaton Vance Distributors. In joining the Tribeca Group in 2015, Michael is responsible for
managing the relationship between the Tribeca Group and the other
Financial Advisors at Morgan Stanley. He earned a BA in Economics from
UCLA and currently holds series 7, 63, and 65 registrations.
Securities Agent: KS, IN, RI, TX, PA, NM, NJ, UT, NV, NE, ND, MT, KY, WV, PR, OH, NH, LA, AZ, AK, OK, MD, CO, WI, NY, MN, ID, DE, DC, NC, MI, MA, FL, CT, WY, VI, VA, TN, IL, GA, CA, MS, MO, IA, WA, SC, OR, HI, AR, AL, VT, SD, ME; General Securities Representative; Investment Advisor Representative
NMLS#: 1807572
NMLS#: 1807572
About Pat Penfield
Pat joined Morgan Stanley in 2021, where he built a strong foundation in wealth management solutions and developed deep familiarity with the firm’s proprietary platforms and client engagement and practice management tools. In this capacity, he partnered closely with Financial Advisors and advisory teams to help enhance client engagement, improve practice efficiency, and support business development initiatives. Acting as an extension of more than 50 Financial Advisors and teams, Pat provided scalable, high-touch support—helping advisors modernize their practices, strengthen client relationships, and deliver a more consistent, differentiated client experience.
Pat is recognized for fixed income portfolio management expertise, with a disciplined approach to building and managing bond allocations aligned to client objectives. He leverages Morgan Stanley’s platform capabilities to identify risks and opportunities and support implementation across client portfolios. His experience on the desk has helped him develop broad product knowledge and a practical understanding of how to align tools, messaging, and service models to advisor and client objectives.
Pat earned his bachelor’s degree in Finance from Syracuse University. He holds the Series 7, 63, and 65 licenses, the Financial Planning Specialist designation, and the Certified Investment Management Analyst® (CIMA®) certification. The CIMA® program is a globally recognized, advanced portfolio construction and investment consulting credential designed for investment consultants, financial advisors, and wealth management professionals.
Originally from Syracuse, New York, Pat currently resides in Manhattan. Outside of work, he is a dedicated Buffalo sports fan—supporting the Bills and Sabres—and enjoys golfing, skiing, and traveling.
Pat is recognized for fixed income portfolio management expertise, with a disciplined approach to building and managing bond allocations aligned to client objectives. He leverages Morgan Stanley’s platform capabilities to identify risks and opportunities and support implementation across client portfolios. His experience on the desk has helped him develop broad product knowledge and a practical understanding of how to align tools, messaging, and service models to advisor and client objectives.
Pat earned his bachelor’s degree in Finance from Syracuse University. He holds the Series 7, 63, and 65 licenses, the Financial Planning Specialist designation, and the Certified Investment Management Analyst® (CIMA®) certification. The CIMA® program is a globally recognized, advanced portfolio construction and investment consulting credential designed for investment consultants, financial advisors, and wealth management professionals.
Originally from Syracuse, New York, Pat currently resides in Manhattan. Outside of work, he is a dedicated Buffalo sports fan—supporting the Bills and Sabres—and enjoys golfing, skiing, and traveling.
Securities Agent: NH, NC, LA, IL, WA, PR, MA, KS, IA, FL, AR, AK, VT, VA, TX, AZ, SD, RI, OR, HI, DE, TN, SC, KY, IN, CA, WV, UT, ND, MN, MD, AL, NM, MS, MI, ME, ID, CO, NE, WI, PA, MT, GA, DC, NY, NJ, MO, CT, WY, VI, OK, OH, NV; General Securities Representative; Investment Advisor Representative
NMLS#: 2829729
NMLS#: 2829729
About Yunjin Lee
YUNJIN LEE, CFA®, CMA®, Vice President - Investment Consultant/Portfolio Manager Specialist, providing in-depth fundamental and technical analysis of investment grade and high yield bonds. Yunjin has earned the prestigious Morgan Stanley Wealth Management Consulting Group Analyst designation and researches outside money managers whom we might recommend for various components of your portfolio.
Yunjin joined Morgan Stanley Smith Barney in 2009 after working in Barclay Capital’s High Yield Credit Corporate Department as a trading desk and publishing analyst. Prior to that, she served as a strategy consultant at Bain & Co. She holds the Chartered Financial Analyst® designation and is a member of the CFA institute and the CFA Society New York. A graduate of Korea University, Yunjin received an M.B.A. from the Wharton School of the University of Pennsylvania.
Disclaimers:
Technical analysis is the study of past price and volume trends of a security in an attempt to predict the security's future price and volume trends. Its limitations include but are not limited to: the lack of fundamental analysis of a security's financial condition, lack of analysis of macroeconomic trend forecasts, the bias of the technician's view and the possibility that past participants were not entirely rational in their past purchases or sales of the security being analyzed. Investors using technical analysis should consider these limitations prior to making an investment decision.
The value of fixed income securities will fluctuate and, upon a sale, may be worth more or less than their original cost or maturity value. Bonds are subject to interest rate risk, call risk, reinvestment risk, liquidity risk, and credit risk of the issuer. High yield bonds are subject to additional risks such as increased risk of default and greater volatility because of the lower credit quality of the issues . In the case of municipal bonds, income 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.
Yunjin joined Morgan Stanley Smith Barney in 2009 after working in Barclay Capital’s High Yield Credit Corporate Department as a trading desk and publishing analyst. Prior to that, she served as a strategy consultant at Bain & Co. She holds the Chartered Financial Analyst® designation and is a member of the CFA institute and the CFA Society New York. A graduate of Korea University, Yunjin received an M.B.A. from the Wharton School of the University of Pennsylvania.
Disclaimers:
Technical analysis is the study of past price and volume trends of a security in an attempt to predict the security's future price and volume trends. Its limitations include but are not limited to: the lack of fundamental analysis of a security's financial condition, lack of analysis of macroeconomic trend forecasts, the bias of the technician's view and the possibility that past participants were not entirely rational in their past purchases or sales of the security being analyzed. Investors using technical analysis should consider these limitations prior to making an investment decision.
The value of fixed income securities will fluctuate and, upon a sale, may be worth more or less than their original cost or maturity value. Bonds are subject to interest rate risk, call risk, reinvestment risk, liquidity risk, and credit risk of the issuer. High yield bonds are subject to additional risks such as increased risk of default and greater volatility because of the lower credit quality of the issues . In the case of municipal bonds, income 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.
About William M. Wilson
WILLIAM M. WILSON, Vice President -Portfolio Management Associate Director, bringing over 15 years of fixed income experience to The Tribeca Group’s clients, he works alongside Senior Portfolio Managers in executing The Tribeca Groups’ Fixed Income strategies and is responsible for trading, portfolio construction, portfolio and market analysis, and investment research. In addition, he provides institutional clients with investment ideas, trade execution, market color and research.
Prior to joining The Tribeca Group, William was a Vice-President at Roosevelt & Cross, Inc., where he worked as a Fixed-Income Trader focusing on tax-exempt and taxable municipal bonds. He was responsible for developing trading desk strategies and analytics, managing broker-dealer relationships, and operating ECN trading platforms. He is a graduate of the Boston University Questrom School of Business where he received a B.S. in Business Administration and currently holds Series 7, 52, 53, 63, and 66 registrations.
Prior to joining The Tribeca Group, William was a Vice-President at Roosevelt & Cross, Inc., where he worked as a Fixed-Income Trader focusing on tax-exempt and taxable municipal bonds. He was responsible for developing trading desk strategies and analytics, managing broker-dealer relationships, and operating ECN trading platforms. He is a graduate of the Boston University Questrom School of Business where he received a B.S. in Business Administration and currently holds Series 7, 52, 53, 63, and 66 registrations.
About Chris Lamberto
Chris graduated from Adelphi University in 2021 with a B.S in Finance and Summa Cum Laude honors. At Adelphi Chris was Head Portfolio Manager of the Student Investment Fund and played club baseball throughout his collegiate career. Upon graduating Chris worked for Seven Points Capital, an Equity Proprietary Desk for two years before joining the Tribeca Group.
Contact Scott McCoy
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Wealth Management
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Tribeca Q2 2025 Client Newsletter
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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.
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
4Morgan 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
5Municipal 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.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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 Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
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 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.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Alternative 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.
3Investing in the market entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. The returns on a portfolio consisting primarily of sustainable or impact investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because sustainability and impact criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.
4Morgan 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
5Municipal 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.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
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 Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
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 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.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
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.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
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
Morgan 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 visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 5378280 (5/2026)
