Hugh M Venrick
Senior Vice President, Financial Advisor, Senior Portfolio Management Director
Phone:
(605) 357-2265(605) 357-2265
The Venrick Goeman Group at Morgan Stanley
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Our Mission Statement
We seek to earn the privilege and position of trusted advisor to affluent families. We bring a passionate commitment to service and measure our success by our clients’ satisfaction.
Access to Anything. Coordination of Everything.
The Venrick Goeman Group at Morgan Stanley provides comprehensive wealth management services to affluent families. We combine the world-class resources of Morgan Stanley with personalized advice to help meet the needs of our clients. With over $1 billion of assets under our care (as of 1/31/24), we have a history of helping our clients work towards their goals.
We have helped families through various transitions; from a successful business sale or a career change, to reaching retirement or navigating through the passing of a loved one. We are excited to put our intellectual capital and process to work for you.
Our Clients
We work with a distinguished group of individuals, families and businesses that are seeking tailored financial plans and customized investment strategies. This includes:
- Multigenerational private wealth families
- Corporate executives and business owners
- Healthcare professionals
- Attorneys & accountants
- Retirees and individuals planning for retirement
- Women seeking guidance for themselves and their families
- Referrals from existing clients and industry professionals
- Self-made entrepreneurs
In the Press
2025 Forbes Best-In-State Wealth Management Teams Each year, Forbes Magazine releases a list of hand-selected and ranked advisors. In order to make this list, advisors must be nominated by their firm, researched, interviewed, and assigned a rank by SHOOK Research.
The Venrick Goeman Group has made the list of Forbes Best-In-State Wealth Management Teams for 2025.
Source: Forbes.com (Awarded Jan 2025). Data compiled by SHOOK Research LLC based for the period 3/31/23–3/31/24.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
1. ESTABLISH FINANCIAL OBJECTIVES
We will work with you to establish a realistic set of actions based on your financial goals, life vision, liquidity needs and comfort level.
2. DEFINE INVESTMENT STRATEGY
Together, we will develop an investment strategy designed to help you reach your goals. We seek to generate the highest return in a tax efficient manner that aligns with your estate plan.
3. EVALUATE AND SELECT INVESTMENTS
We leverage a diverse set of select investments to implement your personal strategy. Our custom-tailored solutions can give you access to state-of-the-art research and investments to further advance your financial goals.
4. ONGOING REVIEW PROCESS
We monitor your portfolio to track its performance relative to your stated objectives and modify the portfolio as your needs and circumstances change over time. Our dedication to ensuring your financial plan is what is best for you never waivers.
Digital Tools
Morgan Stanley's suite of Modern Wealth Management Tools allows advisors to offer more customized and comprehensive advice than anywhere else. These tools' ease of use allows for a more in-depth view of a client's financial life to be taken, resulting in better service and more well-rounded advice.
Morgan Stanley Online and MSMobile
Morgan Stanley Online (MSO) has a variety of features beyond viewing your account balance and activity that you should take advantage of.
FEATURES
eAuthorizations: an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
eDelivery: reduces paper documents sent by mail and can protect your personal information from getting into the hands of identity thieves.
Managing your everyday finances such as paying bills online, sending money or transferring funds.
FEATURES
eAuthorizations: an enhanced way to authorize transactions with one click on Morgan Stanley Online and the Morgan Stanley Mobile App
eDelivery: reduces paper documents sent by mail and can protect your personal information from getting into the hands of identity thieves.
Managing your everyday finances such as paying bills online, sending money or transferring funds.
Goals Planning System
GPS helps clients define what they want out of life, and then creates a financial framework to bring these goals to life.
Client Benefits
A Plan Designed to Achieve Goals: A holistic Goals Planning System approach to Wealth Management can help tailor an investment framework that considers key aspects of a client's life, such as retirement age, healthcare costs, home buying, cash management, legacy needs, and potential withdrawal strategies.
Embedded Investment Strategy to Help Clients Get on Track: Once goals are assessed, various investment proposals are considered to help clients get on track in accordance with their risk tolerance. The new tools will link to the latest asset allocation models, research and ideas and facilitate the Financial Advisor in providing advice right where it's needed.
Track Progress to Goals: Using goals as a benchmark, the investment strategy is continuously evaluated to ensure clients are on track.
Stay Flexible as Goals Change: As circumstances and goals change, Financial Advisors can help adjust priorities and introduce additional solutions.
GPS VideoClient Benefits
A Plan Designed to Achieve Goals: A holistic Goals Planning System approach to Wealth Management can help tailor an investment framework that considers key aspects of a client's life, such as retirement age, healthcare costs, home buying, cash management, legacy needs, and potential withdrawal strategies.
Embedded Investment Strategy to Help Clients Get on Track: Once goals are assessed, various investment proposals are considered to help clients get on track in accordance with their risk tolerance. The new tools will link to the latest asset allocation models, research and ideas and facilitate the Financial Advisor in providing advice right where it's needed.
Track Progress to Goals: Using goals as a benchmark, the investment strategy is continuously evaluated to ensure clients are on track.
Stay Flexible as Goals Change: As circumstances and goals change, Financial Advisors can help adjust priorities and introduce additional solutions.
Digital Vault
Keeping important documents and financial records organized and readily available is one the best gifts you can give those you love. In the event of catastrophe or serious illness, disability or death, your Family Records Organizer can immediately provide vital, timely information to both your family and professional advisors. The Digital Vault on Morgan Stanley Online and the Mobile App allows you and your clients to build a central, shared document library where all documents are stored using encryption.
Digital Vault Video
Asset Aggregation
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind. We've launched a new tool that allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile.
Asset AggregationStay in the Know
Stay ahead of the curve with our quarterly newsletter! Handpicked articles, insightful Morgan Stanley reports, and essential reminders are all at your fingertips. This curated content is designed to keep you informed and up-to-date, providing actionable items for our valued clients.
Location
300 Cherapa Place
Suite 503
Sioux Falls, SD 57103
US
Direct:
(605) 338-6500(605) 338-6500
Toll-Free:
(800) 869-6565(800) 869-6565
Meet The Venrick Goeman Group
Daniel S Goeman
Executive Director, Financial Advisor, Senior Portfolio Management Director, Alternative Investments Director, Corporate Retirement Director, Financial Wellness Director
Phone:
(605) 357-2275(605) 357-2275
Corey Weide, CRPC®
Vice President, Financial Advisor, Portfolio Management Director
Phone:
(605) 357-2285(605) 357-2285
Phone:
(605) 357-2268(605) 357-2268
Phone:
(605) 357-2283(605) 357-2283
Rebecca Wittrock
Associate Vice President, Business Development Associate
Phone:
(605) 338-6500(605) 338-6500
Mitchel Smith
Registered Client Service Associate
Phone:
(605) 357-2296(605) 357-2296
About Hugh M Venrick
Hugh started his financial services career in 1981 as a stockbroker at the privately held Mesirow Financial in Sioux Falls. He began as an assistant to the divisional manager and rose to Managing Director. While at Mesirow Financial, Hugh and Daniel S. Goeman co-founded the Venrick Goeman Group. Hugh and the rest of the team helped establish the Sioux Falls Smith Barney office in 1999, which was acquired by Morgan Stanley in 2009.
He currently provides total wealth management services to affluent families, business owners, and corporate-sponsored 401(k) plans. Hugh monitors the strategic asset allocation of global equities and fixed income for all client accounts.
He graduated from the University of South Dakota and is also a graduate of the Securities Industry Institute through the Wharton School at the University of Pennsylvania.
Outside of the office, Hugh is active as either a past or present board member or volunteer with many philanthropic organizations. Over the years, these have included the Sioux Falls Area Community Foundation, Junior Achievement, Avera McKennan Hospital Board of Trustees, Citigroup SD Leadership Council, Avera Heart Hospital Board of Trustees, Prairie Family Business Association, Face It TOGETHER, University of South Dakota Howling Pack, and the FCA Honor Athlete. Hugh and his wife, RuthAnn, live in Sioux Falls and have three adult children and six grandchildren.
Awards:
Named to America's Best-in-State Wealth Advisors by Forbes Magazine seven years in a row, 2018 - 2024.
2018 Forbes first-ever list of America's Top Wealth Advisors
2018-2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com 2018-2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2018 Forbes America's Top Wealth Advisors
Source: Forbes.com (Awarded 2018). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of the year the award was issued.
He currently provides total wealth management services to affluent families, business owners, and corporate-sponsored 401(k) plans. Hugh monitors the strategic asset allocation of global equities and fixed income for all client accounts.
He graduated from the University of South Dakota and is also a graduate of the Securities Industry Institute through the Wharton School at the University of Pennsylvania.
Outside of the office, Hugh is active as either a past or present board member or volunteer with many philanthropic organizations. Over the years, these have included the Sioux Falls Area Community Foundation, Junior Achievement, Avera McKennan Hospital Board of Trustees, Citigroup SD Leadership Council, Avera Heart Hospital Board of Trustees, Prairie Family Business Association, Face It TOGETHER, University of South Dakota Howling Pack, and the FCA Honor Athlete. Hugh and his wife, RuthAnn, live in Sioux Falls and have three adult children and six grandchildren.
Awards:
Named to America's Best-in-State Wealth Advisors by Forbes Magazine seven years in a row, 2018 - 2024.
2018 Forbes first-ever list of America's Top Wealth Advisors
2018-2024 Forbes Best-In- State Wealth Advisors
Source: Forbes.com 2018-2024. Data compiled by SHOOK Research LLC based 12-month time period concluding in June of year prior to the issuance of the award.
2018 Forbes America's Top Wealth Advisors
Source: Forbes.com (Awarded 2018). Data compiled by SHOOK Research LLC based 12-month time period concluding in June of the year the award was issued.
Securities Agent: IL, ID, GA, NE, MT, DE, NY, MO, MA, OR, ND, IN, MN, IA, AR, WI, OH, NC, CO, WY, SD, FL, TX, TN, NJ, CA, AZ, WA, MD; General Securities Representative; Investment Advisor Representative
NMLS#: 1364489
NMLS#: 1364489
About Daniel S Goeman
Dan started in the financial services industry at Arthur Anderson & Co. in Minneapolis. He was hired into the tax department as an attorney where he worked in the private wealth management area as well as supervised over 200 qualified retirement plans. Dan then joined Mesirow Financial in Sioux Falls, where the Venrick Goeman Group formed. He supervised the establishment of the Venrick Goeman Group's involvement in the retirement plan market.
Dan assisted in establishing the Sioux Falls office of Smith Barney. He was a First Vice President, Financial Planning Specialist, Investment Management Specialist/Financial Consultant for The Venrick Goeman Group. Dan and the rest of the Venrick Goeman Group joined Morgan Stanley in the summer of 2008. His primary focus is to assist families with their overall wealth management needs. He is also responsible for technical and investment analysis for The Venrick Goeman Group. In addition, he also supervises the technical aspects and investment options for the qualified retirement plans.
He graduated with honors from Augustana College in 1987 with a Bachelor of Arts double major in economics and business administration. He also earned a Law Degree in 1991 from the University of South Dakota School of Law. Dan and his wife Michelle, live in Sioux Falls. They have three children: Nick, Isaac and Lexi.
He is actively involved in community service activities such as Junior Achievement and the Prairie Heart Guest House. Since 1984, he has been actively involved in coaching youth sports at various levels.
Dan assisted in establishing the Sioux Falls office of Smith Barney. He was a First Vice President, Financial Planning Specialist, Investment Management Specialist/Financial Consultant for The Venrick Goeman Group. Dan and the rest of the Venrick Goeman Group joined Morgan Stanley in the summer of 2008. His primary focus is to assist families with their overall wealth management needs. He is also responsible for technical and investment analysis for The Venrick Goeman Group. In addition, he also supervises the technical aspects and investment options for the qualified retirement plans.
He graduated with honors from Augustana College in 1987 with a Bachelor of Arts double major in economics and business administration. He also earned a Law Degree in 1991 from the University of South Dakota School of Law. Dan and his wife Michelle, live in Sioux Falls. They have three children: Nick, Isaac and Lexi.
He is actively involved in community service activities such as Junior Achievement and the Prairie Heart Guest House. Since 1984, he has been actively involved in coaching youth sports at various levels.
Securities Agent: MT, AR, MA, IN, OK, NC, KY, IA, SD, NY, NM, UT, TX, ND, MD, ID, VA, FL, PA, OR, MN, MI, KS, IL, GA, NE, MO, CA, WI, VT, OH, CO, WA, DE, AZ; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1368461
NMLS#: 1368461
About Corey Weide
Corey began his career and worked in the health care industry at GSK. After a successful career, Corey started his financial services career with Wells Fargo Advisors. He spent six years providing service to individuals and families and focusing on retirement planning. Corey also earned the Chartered Retirement Planning Counselor designation from the College of Financial Planning.
Corey joined the Venrick Goeman Group at Morgan Stanley and works with individuals and businesses to plan for their overall wealth management needs. He has also distinguished himself as a Morgan Stanley Senior Portfolio Manager.
Corey graduated from Mount Marty College with a Bachelor of Science degree. He participates in several community groups and events as well as an Ambassador in Sioux Falls Area Chamber of Commerce. Corey and his wife, Erica, live in Sioux Falls. They have two soccer-loving children.
Corey joined the Venrick Goeman Group at Morgan Stanley and works with individuals and businesses to plan for their overall wealth management needs. He has also distinguished himself as a Morgan Stanley Senior Portfolio Manager.
Corey graduated from Mount Marty College with a Bachelor of Science degree. He participates in several community groups and events as well as an Ambassador in Sioux Falls Area Chamber of Commerce. Corey and his wife, Erica, live in Sioux Falls. They have two soccer-loving children.
Securities Agent: MD, MA, IL, FL, DE, WI, MT, AZ, WA, NY, ID, GA, CA, MO, MN, NE, IA, CO, TX, SD, AR, ND, OR; General Securities Representative; Investment Advisor Representative
NMLS#: 1423943
NMLS#: 1423943
About Sam Gotham
Sam started his career working in finance and client service at a Sioux Falls-based marketing agency.
In 2017, Sam joined Morgan Stanley and the Venrick Goeman Group. He works with clients to develop personal financial plans and manage their long-term wealth goals. He is currently the Branch Manager for Sioux Falls.
Sam graduated Cum Laude from Augustana College (now Augustana University). He was a student-athlete and majored in Business Administration and Spanish. Sam lives in Sioux Falls with his wife, Elizabeth. He serves on the boards of the Furniture Mission of South Dakota as well as Helping Kids Round First as well as the Sioux Falls Area Community Foundation's Grants Committee.
In 2017, Sam joined Morgan Stanley and the Venrick Goeman Group. He works with clients to develop personal financial plans and manage their long-term wealth goals. He is currently the Branch Manager for Sioux Falls.
Sam graduated Cum Laude from Augustana College (now Augustana University). He was a student-athlete and majored in Business Administration and Spanish. Sam lives in Sioux Falls with his wife, Elizabeth. He serves on the boards of the Furniture Mission of South Dakota as well as Helping Kids Round First as well as the Sioux Falls Area Community Foundation's Grants Committee.
Securities Agent: MI, ME, MD, MA, LA, KY, KS, IN, IL, ID, IA, HI, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL, AK, WY, WV, WI, WA, VT, VI, VA, UT, TX, TN, SD, SC, RI, PR, PA, OR, OK, OH, NY, NV, NM, NJ, NH, NE, ND, NC, MT, MS, MO, MN; BM/Supervisor; General Securities Representative; Investment Advisor Representative
NMLS#: 1698571
NMLS#: 1698571
About Andrew Venrick
Andrew Venrick, QPFC™ joined the Venrick Goeman Group at Morgan Stanley in 2021. Passionate about solving problems, Andrew focuses on helping clients across three main strategies: income tax mitigation, wealth transfer and retirement planning. He provides comprehensive goal-based financial planning solutions to young families, entrepreneurs and retirees.
A graduate of Creighton University where he was a walk-on for the men’s basketball program and an American Studies major before going on to earn a Master’s degree in Negotiations and Conflict Resolution (NCR). He and his wife Samantha live in Sioux Falls with their daughters Genevieve and Lucia.
A graduate of Creighton University where he was a walk-on for the men’s basketball program and an American Studies major before going on to earn a Master’s degree in Negotiations and Conflict Resolution (NCR). He and his wife Samantha live in Sioux Falls with their daughters Genevieve and Lucia.
Securities Agent: FL, DE, AR, CO, CA, AZ, MT, WI, TX, OR, ND, MA, TN, NE, MO, IL, IA, IN, ID, WY, NJ, MN, MD, WA, SD, GA, NY; General Securities Representative; Investment Advisor Representative
NMLS#: 2322803
NMLS#: 2322803
About Mitchel Smith
Mitchel Smith is a dedicated and experienced professional currently working as a Registered Client Service Associate at The Venrick Goeman Group at Morgan Stanley, a position he has held since December 2023. With a total of five years of industry experience, Mitchel previously served as a service associate for Raymond James for three years and for Baird Private Wealth Management for one year.
Mitchel graduated with a Bachelor’s degree in Business Administration from Black Hills State University, where he also showcased his athletic skills as a member of the football team.
Outside of his professional life, Mitchel is passionate about weightlifting and hunting. He cherishes spending quality time with his family. In May 2023, he and his wife welcomed their first puppy into their home, a lively companion who loves to chase birds and chew on furniture. The couple also celebrated the arrival of their first child in January 2024, a joyous event that Mitchel describes as a true blessing.
Despite his accomplishments, Mitchel remains a humble and dedicated professional, committed to providing outstanding service to his clients.
Mitchel graduated with a Bachelor’s degree in Business Administration from Black Hills State University, where he also showcased his athletic skills as a member of the football team.
Outside of his professional life, Mitchel is passionate about weightlifting and hunting. He cherishes spending quality time with his family. In May 2023, he and his wife welcomed their first puppy into their home, a lively companion who loves to chase birds and chew on furniture. The couple also celebrated the arrival of their first child in January 2024, a joyous event that Mitchel describes as a true blessing.
Despite his accomplishments, Mitchel remains a humble and dedicated professional, committed to providing outstanding service to his clients.
Contact Hugh M Venrick
Contact Daniel S Goeman
Contact Corey Weide
Contact Sam Gotham
Contact Andrew Venrick
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Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
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1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
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5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan 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.
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
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9Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
5Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
6Morgan 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.
7Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
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 and other legal matters.
9Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
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CRC 6491812 (04/2024)
