Daniel C. Umbel, CPWA®
Executive Director, Financial Advisor
Phone:
(912) 692-4633(912) 692-4633
The Umbel Group at Morgan Stanley
Direct:
(912) 692-4634(912) 692-4634
Our Mission Statement
Our team is dedicated to helping people achieve their financial goals. We believe every client is entitled to the highest level of personalized service and care. With the global resources of Morgan Stanley, we’ll place you at the center of the wealth management process as we work together to design a goals-based financial approach to help you reach the goals that matter most to you.
We strive to understand the world you have today. And the one you want tomorrow.
We have noticed that one of the most interesting things about working with affluent clients is this: the focus is seldom on counting dollars and cents. It's about what those dollars can do. The lifestyle they provide, the businesses they build, the opportunities they foster. Helping clients to make their choices takes insight, understanding and a long-term commitment to their point of view.
We believe that's why families who could take their resources anywhere consider choosing The Umbel Group for dedicated wealth management. Although based in Savannah, we work with clients from the Peach State to the Golden State, from River Street to Wall Street, from our office to wherever your life takes you. Whether you are still working, approaching retirement, or already retired – our team is qualified to help.
The Umbel Group can offer advice and guidance on different facets of your financial world—how you invest, your income and revenue streams, your businesses and property, retirement, and how you can build a foundation for generations that follow.
We believe that's why families who could take their resources anywhere consider choosing The Umbel Group for dedicated wealth management. Although based in Savannah, we work with clients from the Peach State to the Golden State, from River Street to Wall Street, from our office to wherever your life takes you. Whether you are still working, approaching retirement, or already retired – our team is qualified to help.
The Umbel Group can offer advice and guidance on different facets of your financial world—how you invest, your income and revenue streams, your businesses and property, retirement, and how you can build a foundation for generations that follow.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Wealth management based on your goals. Focused on you.
From the moment you become a client, The Umbel Group gives you access to the worldwide investment insights and resources of Morgan Stanley. We can offer you access to new investment opportunities, global research, economic forecasts, and the latest thinking on portfolio management.
After we gain clarity about your goals and outlook, our advice and guidance center around tailoring portfolios targeted to each of your objectives. We then take into account your risk tolerance, liquidity needs, and time horizons to create strategies based on the three fundamentals of investing: Asset Allocation, Diversification, and Rebalancing. Broadly, your asset allocation is intended to pursue your short-term, intermediate, and long-term goals.
Disclaimer:
Asset Allocation, Diversification and Rebalancing do not protect against a loss in declining financial markets. There may be a potential tax implication with a rebalancing strategy. Investors should consult with their tax advisor before implementing such a strategy.
Everyday investments and accountsIf appropriate, we can recommend shorter-term investments and accounts for your cash and other liquid assets, and help you allocate income from your business and distributions from your other investment, trust, or retirement accounts. We can help you manage these assets to maintain your lifestyle and day-to-day expenditures.
Your intermediate portfolio
For your intermediate-term objectives, we may suggest a well-diversified portfolio of equities, fixed-income instruments, mutual funds and alternative investments for certain qualified investors. Here we focus on helping to preserve your wealth from inflation, taxes, and attrition.
Aspirational investmentsWhen appropriate, we can offer investment advice and guidance on concentrated equity positions, stock options, business interests, and alternative investments. Clients generally seek long-term growth through these holdings, and our advice and guidance are targeted to that objective.
Anyone can show you model portfolios. We tailor strategies with you in mind.
At first glance, wealth management may seem straightforward: managing investments and resources in pursuit of a goal. But for many of the clients we serve, the reality is far more nuanced. You may have multiple goals, each with its own complexities, priorities, and time horizon — often requiring the insight and coordination of experienced professionals.
When you work with The Umbel Group, you receive more than day-to-day advice and guidance from our team. You may also benefit from access to a broad network of Morgan Stanley professionals who can provide additional support and specialized expertise when needed. Together, we work with one focus: you.
Our goals-based wealth management approach is designed to bring together the many dimensions of your financial life — including income, expenses, investments, liabilities, business interests, and real property — into a cohesive strategy aligned with what matters most to you.
Certifications & Designations
CFP® - Certified Financial Planner™ (Jeffrey Heeder, Karl Schiefer, Casey Roberts, Justin Parker)
The Certified Financial Planner™ designation is awarded to candidates who have demonstrated expertise in the areas of Education, Investment, Tax, Retirement, Estate and Insurance planning. CFP® professionals must accrue several years of experience related to delivering financial planning services to clients and pass a comprehensive exam before calling themselves a CFP® Professional and are held to strict ethical standards to ensure financial planning recommendations are in the best interest of their clients.
CPWA® - Certified Private Wealth Advisor (Daniel Umbel)
From preserving wealth to managing closely held businesses, the needs and demands of ultra-high networth clients are unique, complex and challenging. The Certified Private Wealth Advisor (CPWA®) certification is designed specifically for seasoned advisors and wealth managers who work with ultra-high networth clients.
QPFC - Qualified Plan Financial Consultant (Patrick House)
A QPFC must prove expertise and experience working with retirement plans. QPFCs help their clients objectively review their financial situation, isolate potential concerns, and provide recommendations and solutions for tending to these financial matters.
Community Involvement
Members from our team support the following organizations:
Second Harvest of Coastal Georgia
Established in 1981 in Savannah Georgia, America's Second Harvest of Coastal Georgia is a locally inspired, volunteer-driven nonprofit food bank and community partnering organization. They work diligently to feed tens of thousands of children, senior citizens, low-income families, and people with disabilities who face hunger by distributing nutritious food to non-profit agencies and partners.
Horizons Savannah
Their tuition free programs for students K-12 inspire youth to learn and grow throughout the summer and beyond. Through engaging academics, swimming and social emotional learning students have the opportunities and resources they need for an unlimited future.
Union Mission
Since its founding in 1937, Union Mission has grown from a small soup kitchen to a multi-facility organization serving the homeless population of the greater Savannah area. Today, Union Mission provides emergency shelter, permanent supportive housing, behavioral health services, support for people living with HIV/AIDS, and employment and educational services. Through their programs, individuals and families acquire the tools they need to lift themselves out of homelessness and into a brighter future.
YMCA of Coastal Georgia
The YMCA of Coastal Georgia has been serving the Coastal Georgia community for over 160 years, and continues to work every day to advance our cause to strengthen community through three areas of focus; youth development, healthy living, and social responsibility.
Abbie Deloach Foundation
Inspired by Abbie's compassion for others and love for life, the Foundation continues the good work Abbie began.
Savannah Jaycees
The Jaycees is a national and international organization made of up business men and women between the ages of 21 and 40. Their group has been in Savannah since 1942. Striving to be the leading global network of active young citizens, the Jaycees provides development opportunities to create a positive change in our communities.
Army Ranger Lead The Way Fund
Army Ranger Lead The Way Fund, Inc., A 501c3 Non-Profit, Is An Active Duty, Casualty Assistance, Recovery, Transition And Veterans Organization That Provides Financial Support, Beyond What The Government And Veterans Affairs Can Offer, To U.S. Army Rangers And The Families Of Those Who Have Died, Have Been Disabled Or Who Are Currently Serving In Harm's Way Around The World.
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
7402 Hodgeson Memorial Drive
Ste 100
Savannah, GA 31406
US
Direct:
(912) 692-4634(912) 692-4634
Meet The Umbel Group
Jeffrey A. Heeder, CFP®
Senior Vice President, Financial Advisor
Phone:
(912) 692-4607(912) 692-4607
Karl E. Schiefer, CFP®
Vice President, Financial Advisor
Phone:
(912) 692-4635(912) 692-4635
Senior Vice President, Family Wealth Director, Workplace Advisor - Equity Compensation, Portfolio Management Director
Phone:
(912) 692-4603(912) 692-4603
Casey Roberts, CFP®
Financial Advisor, Financial Planning Specialist, Workplace Advisor - Equity Compensation
Phone:
(912) 692-4657(912) 692-4657
Patrick House, QPFC
Financial Advisor, Financial Planning Specialist, Workplace Advisor - Equity Compensation
Phone:
(912) 692-4625(912) 692-4625
Phone:
(912) 692-4612(912) 692-4612
Amanda Lord
Senior Registered Client Service Associate
Phone:
(912) 692-4628(912) 692-4628
Kat Burke
Client Service Associate
Phone:
(912) 692-4634(912) 692-4634
About Me
After graduating from Duke University with a degree in Economics, Dan spent eight years in banking and management. Prior to joining Morgan Stanley, Dan worked for Merrill Lynch Wealth Management since 2008 as a Financial Advisor. In addition to serving his individual clients, he has held various leadership positions throughout his professional career.
Dan holds the Certified Private Wealth Advisor® designation, awarded by the Investments & Wealth Institute™ (The Institute), taught in conjunction with the University of Chicago Booth School of Business. He is an experienced Advisor who, in addition to providing traditional advice and guidance, can draw from his experience to help clients pursue their objectives by building and managing custom investment strategies, selecting from a wide range of Morgan Stanley model portfolios and third-party investment strategies.
While at Duke, Dan earned eight varsity letters competing on the football and lacrosse teams. Dan enjoys coaching youth lacrosse and most importantly spending time with his wife and two sons.
Dan holds the Certified Private Wealth Advisor® designation, awarded by the Investments & Wealth Institute™ (The Institute), taught in conjunction with the University of Chicago Booth School of Business. He is an experienced Advisor who, in addition to providing traditional advice and guidance, can draw from his experience to help clients pursue their objectives by building and managing custom investment strategies, selecting from a wide range of Morgan Stanley model portfolios and third-party investment strategies.
While at Duke, Dan earned eight varsity letters competing on the football and lacrosse teams. Dan enjoys coaching youth lacrosse and most importantly spending time with his wife and two sons.
Securities Agent: WI, MN, AZ, AK, UT, OK, NY, VT, MO, AL, WV, RI, NJ, MD, FL, CA, OR, KS, GA, CT, OH, NM, MS, KY, IN, SD, PR, WY, VI, NH, ID, WA, ND, IA, AR, PA, NV, MI, ME, DC, SC, NC, LA, VA, TX, MA, IL, DE, TN, NE, MT, HI, CO; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 545085
NMLS#: 545085
About Me
Jeff joined the Umbel Group in 2015, bringing 30 years of comprehensive wealth management experience to the team, including ten years as a tax specialist with the Internal Revenue Service, followed by over 20 years as a wealth strategist in the banking industry, primarily with Chase Manhattan Bank in New York. He currently focuses on financial planning and wealth management, tax planning and efficiency, cash management and lending solutions, and trust and estate planning strategies.
Jeff has earned the CERTIFIED FINANCIAL PLANNER certification awarded by the Certified Financial Planner Board of Standards, Inc. The CFP Certification represents the standard of excellence for financial advisors. CFP Professionals’ extensive training and experience requires them to put their clients’ interests first and act as a fiduciary when providing financial advice. Jeff takes a holistic and personalized approach to bring all the pieces of his client’s life together.
Jeff is a native of New York City, born in Flushing, Long Island, and met his wife attending high school in Rochester, NY. He graduated from Rochester Institute of Technology with a Bachelor of Science in Accounting. Jeff is a two-time president of the Kiwanis Club of Skidaway Island, past president of the Rotary Club of Savannah East, as well as a Paul Harris Fellow. He is currently serving on the boards of the YMCA of Coastal Georgia, and the Small Business Assistance Corporation (SBAC).
Jeff moved to Savannah, GA with his wife Nancy in 2004 and currently resides on Skidaway Island in The Landings. He enjoys walking, biking, and traveling. He has three grown children and five grandchildren.
Jeff has earned the CERTIFIED FINANCIAL PLANNER certification awarded by the Certified Financial Planner Board of Standards, Inc. The CFP Certification represents the standard of excellence for financial advisors. CFP Professionals’ extensive training and experience requires them to put their clients’ interests first and act as a fiduciary when providing financial advice. Jeff takes a holistic and personalized approach to bring all the pieces of his client’s life together.
Jeff is a native of New York City, born in Flushing, Long Island, and met his wife attending high school in Rochester, NY. He graduated from Rochester Institute of Technology with a Bachelor of Science in Accounting. Jeff is a two-time president of the Kiwanis Club of Skidaway Island, past president of the Rotary Club of Savannah East, as well as a Paul Harris Fellow. He is currently serving on the boards of the YMCA of Coastal Georgia, and the Small Business Assistance Corporation (SBAC).
Jeff moved to Savannah, GA with his wife Nancy in 2004 and currently resides on Skidaway Island in The Landings. He enjoys walking, biking, and traveling. He has three grown children and five grandchildren.
Securities Agent: HI, NC, MS, MI, KY, KS, RI, OR, NE, CA, AL, WV, VA, TX, MA, IL, AZ, DE, WY, WI, LA, UT, NV, NM, IN, WA, VT, PA, OK, OH, MO, ME, MD, IA, CT, SC, NY, FL, TN, GA, DC, NJ, MT, MN; General Securities Representative; Investment Advisor Representative
NMLS#: 673954
NMLS#: 673954
About Me
Karl graduated from St. John Fisher College in 2009, and began his career in the financial industry immediately thereafter. Karl joined the Miller Umbel Group in 2014, and was subsequently named a partner to the team in the fall of 2017.
Karl holds a CERTIFIED FINANCIAL PLANNER™ certification, awarded by the Certified Financial Planner Board of Standards, Inc. He understands the complexities of the ever changing financial climate and works to develop customized recommendations based on the best interests of those he works with. Karl follows a disciplined planning process dedicated to mitigating risk, reducing cost, and guiding families and individuals to meet and exceed their lifestyle and legacy goals. He focuses on establishing, developing, and deepening relationships while emphasizing the creation and implementation of a goals based wealth management plan.
While at St. John Fisher College, Karl competed on the varsity tennis team and earned Empire 8 All-Conference selections in each of his four years. Karl resides in Savannah, Georgia with his wife Kristen, daughter Elianna and son Eugene.
Karl holds a CERTIFIED FINANCIAL PLANNER™ certification, awarded by the Certified Financial Planner Board of Standards, Inc. He understands the complexities of the ever changing financial climate and works to develop customized recommendations based on the best interests of those he works with. Karl follows a disciplined planning process dedicated to mitigating risk, reducing cost, and guiding families and individuals to meet and exceed their lifestyle and legacy goals. He focuses on establishing, developing, and deepening relationships while emphasizing the creation and implementation of a goals based wealth management plan.
While at St. John Fisher College, Karl competed on the varsity tennis team and earned Empire 8 All-Conference selections in each of his four years. Karl resides in Savannah, Georgia with his wife Kristen, daughter Elianna and son Eugene.
Securities Agent: SC, MS, MI, ME, WA, MA, IL, AZ, AL, VT, PA, OK, NV, NC, MO, KY, OR, HI, DC, CA, WI, RI, NJ, MT, MN, IA, WY, OH, NY, NE, IN, DE, TX, TN, GA, UT, LA, FL, CT, NM, MD, KS, WV, VA; General Securities Representative; Investment Advisor Representative
NMLS#: 1312289
NMLS#: 1312289
About Morgan McAlpin
Morgan McAlpin is a Senior Vice President, and Portfolio Management Director with Morgan Stanley. He has been employed in the investment industry continuously since 1988, after completing his undergraduate degree from Georgia Tech and subsequently, earning his MBA in finance from Georgia State University. Morgan focuses his efforts primarily on providing investment and consulting services to affluent families. Morgan is designated as a Family Wealth Director. As a Family Wealth Director, he has been extensively trained to understand the complexities involved in managing the multi-faceted, nuanced financial concerns and challenges of wealthy families. Morgan relies on a broad array of tools such as a values-based approach to wealth planning which places the client’s value system at the core of the process. Morgan is deeply involved in a variety of civic and non-profit organizations. He is the Savannah’s past Rotary President and Rotary’s Past Foundation Chairman for District 6920.
Morgan, and his lovely wife Liz, have raised five children and are proud grandparents as well.
Morgan, and his lovely wife Liz, have raised five children and are proud grandparents as well.
Securities Agent: UT, CT, VT, TX, NC, MN, MI, MA, IL, GA, NV, DC, SC, OR, CA, WI, PA, OH, NJ, MD, LA, FL, AZ, MS, MO, WY, VA, NM, TN, OK, NY, KY, KS, AL, DE, IN; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 154041
NMLS#: 154041
About Casey Roberts
Securities Agent: NE, AZ, WY, UT, NV, MO, HI, PA, GA, CO, WA, TX, TN, PR, OR, MD, FL, RI, NM, WV, OK, NC, KS, DC, CT, VT, MA, KY, AL, WI, SC, NJ, MN, ME, CA, VA, NY, MS, DE, OH, MI, LA, MT, IN, IL, IA; General Securities Representative; Investment Advisor Representative
NMLS#: 1880756
NMLS#: 1880756
About Patrick House
Securities Agent: DE, CT, WV, NV, MS, MN, RI, MO, CA, WI, VA, TX, OR, KS, GA, AZ, VT, SC, NJ, ME, MD, LA, IN, DC, AL, NY, NM, HI, WA, TN, OK, NE, MT, MA, KY, WY, IA, FL, UT, MI, IL, CO, PA, OH, NC; General Securities Representative; Investment Advisor Representative
NMLS#: 1951089
NMLS#: 1951089
About Me
Securities Agent: TN, TX, WY, NH, NM, CO, NY, MS, IA, AR, AL, PA, OR, OH, NC, MO, FL, CA, VA, DC, NV, NJ, PR, OK, MD, IN, AZ, SC, MI, GA, DE, MA, KY, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 1601025
NMLS#: 1601025
About Amanda Lord
Amanda hails from the great state of Maine, where she earned her Bachelor’s degree in Clinical Psychology and graduated Magna Cum Laude from Husson University.
Prior to joining Morgan Stanley, she began her career in 2005 at Merrill Lynch Wealth Management as a Client Associate in Winston-Salem, NC. After deciding she was living too far from the coast, she migrated down to Savannah, GA in May 2011, where she joined Craig Miller and Dan Umbel as a Registered Senior Client Associate. In 2017, Amanda chose to take a two-year hiatus from the financial world to go work for Oelschig’s Nursery, a local wholesale greenhouse. Armed with new knowledge, experiences and skills, Amanda has returned to pick up where she left off, providing clients with the highest level of personalized service.
In her spare time, she enjoys yoga, reading, gardening, spending time with friends, as well as her dog Marcus and her cats Floyd and Merrill.
Prior to joining Morgan Stanley, she began her career in 2005 at Merrill Lynch Wealth Management as a Client Associate in Winston-Salem, NC. After deciding she was living too far from the coast, she migrated down to Savannah, GA in May 2011, where she joined Craig Miller and Dan Umbel as a Registered Senior Client Associate. In 2017, Amanda chose to take a two-year hiatus from the financial world to go work for Oelschig’s Nursery, a local wholesale greenhouse. Armed with new knowledge, experiences and skills, Amanda has returned to pick up where she left off, providing clients with the highest level of personalized service.
In her spare time, she enjoys yoga, reading, gardening, spending time with friends, as well as her dog Marcus and her cats Floyd and Merrill.
Contact Daniel C. Umbel
Contact Jeffrey A. Heeder
Contact Karl E. Schiefer
Contact Morgan McAlpin
Contact Casey Roberts
Contact Patrick House
Contact Justin Parker
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Kevin Leon
Wealth Solutions Associate - Cash Management
About Kevin Leon
Kevin Leon is a Wealth Solutions Associate & Cash Engagement Specialist at Morgan Stanley providing dedicated support to Financial Advisors and their teams. Operating as an extension of the FA/Team, Kevin collaborates with clients to discover how best to engage and enroll in the services available at Morgan Stanley during their onboarding journey, specifically cash management. Kevin provides guidance across a wide suite of cash management offerings and is able to help open cash management accounts, transfer funds, assist with credit cards and provide education on the breadth of what Morgan Stanley has to offer in the cash management space.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking-related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
Article Image
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
Iran Conflict: Seven Takeaways for Investors
Article Image
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
529 Plans: A Powerful Tool to Save for Education
Article Image
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
Article Image
Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Umbel Group today.
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 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.
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.
3Morgan 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“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.
6Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
8Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards 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 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.
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.
3Morgan 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.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“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.
6Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
7When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
8Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards 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), 4763067 (9/2025), 5378280 (5/2026)
