Brian Welch
Managing Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, Alternative Investments Director, Insurance Planning Director
Phone:
(865) 694-1037(865) 694-1037
The Welch and Fairclough Group at Morgan Stanley
Direct:
(865) 694-1036(865) 694-1036
Toll-Free:
(800) 448-0020(800) 448-0020
Our Mission Statement
Comprehensive wealth planning strategies for your life and legacy
About Us
Our single mission is to help Create and Preserve Individual and Family Wealth.
With over 53* years of experience we have developed and refined our wealth management process. It’s ingrained in our team culture and reflected in our work with the individuals and families we serve. The defining premise of our practice, is in this memorandum signed by Dean Witter to the organization on December 11, 1967:
“The most valuable asset of an investment firm is its good name. Let us do everything we can to protect it and let us not allow profit to distort our judgement. We have a sacred trust to protect our customers. In the long run, those firms which survive and prosper are those who maintain conservative policies and put their customers’ interests first.” - Dean Witter
We are committed to the following core values that are fundamental to our practice:
Integrity
Our reputation is our most valuable asset. We hold ourselves accountable to the highest level of integrity and seek like-minded clients.
Objectivity
As a team with a 100% open architecture investment approach, we are aligned with our clients’ needs for objective advice. Our planning and advice focuses on short-term needs while maintaining a focus on long-term goals.
Commitment
Forming deep and long-lasting relationships with individuals and families as a whole, allows us to truly understand a family’s needs and determine the most effective strategies for helping meet them.
*Brian Welch: 27 years experience, Matthew Fairclough: 26 years experience
With over 53* years of experience we have developed and refined our wealth management process. It’s ingrained in our team culture and reflected in our work with the individuals and families we serve. The defining premise of our practice, is in this memorandum signed by Dean Witter to the organization on December 11, 1967:
“The most valuable asset of an investment firm is its good name. Let us do everything we can to protect it and let us not allow profit to distort our judgement. We have a sacred trust to protect our customers. In the long run, those firms which survive and prosper are those who maintain conservative policies and put their customers’ interests first.” - Dean Witter
We are committed to the following core values that are fundamental to our practice:
Integrity
Our reputation is our most valuable asset. We hold ourselves accountable to the highest level of integrity and seek like-minded clients.
Objectivity
As a team with a 100% open architecture investment approach, we are aligned with our clients’ needs for objective advice. Our planning and advice focuses on short-term needs while maintaining a focus on long-term goals.
Commitment
Forming deep and long-lasting relationships with individuals and families as a whole, allows us to truly understand a family’s needs and determine the most effective strategies for helping meet them.
*Brian Welch: 27 years experience, Matthew Fairclough: 26 years experience
Services Include
- Financial PlanningFootnote1
- Professional Portfolio ManagementFootnote2
- 401(k) Rollovers
- Estate Planning StrategiesFootnote3
- Business PlanningFootnote4
- Municipal BondsFootnote5
- Corporate BondsFootnote6
- Endowments and FoundationsFootnote7
- 529 PlansFootnote8
- Alternative InvestmentsFootnote9
- Cash ManagementFootnote10
- Corporate Retirement PlansFootnote11
- AnnuitiesFootnote12
- Fixed IncomeFootnote13
- Life InsuranceFootnote14
- Long Term Care InsuranceFootnote15
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Family Wealth Director / Family Office Resources
Family Wealth Director (FWD) is a title earned, not given, to Morgan Stanley advisors who have demonstrated experience and knowledge working with Ultra-High-Net-Worth families and Business Owners or the firm . Matthew Fairclough is no exception to this. About 5% of Financial Advisors have obtained the Family Wealth Director designation as of December 2025. With over 26 years of experience, Matthew leads the Welch and Fairclough Group at Morgan Stanley in helping families and business owners protect, grow, and manage their wealth.
Family Wealth Directors have access to specialized teams, products, and training within Morgan Stanley. It is very common for a Family Wealth Director to work with a client’s estate planning and accounting team along with the Morgan Stanley Family Office Resource team. Together, they help ensure the entirety of a client’s life goals are executed to the fullest extent.
Family Wealth Directors have access to specialized teams, products, and training within Morgan Stanley. It is very common for a Family Wealth Director to work with a client’s estate planning and accounting team along with the Morgan Stanley Family Office Resource team. Together, they help ensure the entirety of a client’s life goals are executed to the fullest extent.
Helping You Manage the Complex, Multigenerational Challenges of Managing Significant Wealth
Our integrated approach to planning includes family issues, wealth transfer, asset protection and location, and business succession planning, with a focus on helping you:
1. Advise on the efficient transfer of assets to the next generation and the causes and institutions you support
2. Develop strategies that pass down family values as well as family assets
3. Access specialized ultra-high net worth resources and strategies tailored specifically to the needs and goals of your lifestyle
4. Maintain family unity across generations, focusing on family mission, governance, conflict management and family endowments
5. Ease administration burdens by managing some of the most complex aspects of your life
6. Manage wealth with a long-term view and an unwavering focus on your family’s interests
Learn More1. Advise on the efficient transfer of assets to the next generation and the causes and institutions you support
2. Develop strategies that pass down family values as well as family assets
3. Access specialized ultra-high net worth resources and strategies tailored specifically to the needs and goals of your lifestyle
4. Maintain family unity across generations, focusing on family mission, governance, conflict management and family endowments
5. Ease administration burdens by managing some of the most complex aspects of your life
6. Manage wealth with a long-term view and an unwavering focus on your family’s interests
Building the Infrastructure Behind a Lasting Family Legacy
As your family evaluates the creation of a dedicated family office or the refinement of an existing structure, the process begins with the right foundation:
1. Defining your vision and needs as a family in a proactive capacity
2. Establishing governance for accountability and resources to address sourcing
3. Integrating investment and operational functions for scale
4. Leveraging the right partners to deliver transparency, efficiency and insight
Whether your priorities include consolidating investment oversight, institutional level operational support or expanding access to differentiated investments, Matthew Fairclough and Morgan Stanley Family Office aims to provide the integrated framework, insight, and access to help sustain long-term success: A full-service ecosystem to fuel your vision and goal to create an enduring legacy. And every enduring legacy begins with a vision and is sustained by structure.
Building Your Legacy's Infrastructure1. Defining your vision and needs as a family in a proactive capacity
2. Establishing governance for accountability and resources to address sourcing
3. Integrating investment and operational functions for scale
4. Leveraging the right partners to deliver transparency, efficiency and insight
Whether your priorities include consolidating investment oversight, institutional level operational support or expanding access to differentiated investments, Matthew Fairclough and Morgan Stanley Family Office aims to provide the integrated framework, insight, and access to help sustain long-term success: A full-service ecosystem to fuel your vision and goal to create an enduring legacy. And every enduring legacy begins with a vision and is sustained by structure.
Custom Investment and Advisory Services
We build custom investment strategies with your needs at the center, designed to help sustain your wealth through your lifetime and beyond:
1. Asset Allocation Strategy: Designing strategic and tactical asset allocations based on your needs by leveraging capital markets assumptions and portfolio asset allocation modeling.
2. Portfolio Construction: Or institutional-grade portfolio construction process includes rigorous manager analysis, planning, and access to bespoke investments.
3. Institutional Access: Our team unlocks access to institutional thought leaders at Morgan Stanley, including research analysts, and publications.
4. Cash Flow and Financial Liability Management: We can help conduct spending policy analysis, provide liability and future-funding breakdowns, and advise on cash-flow-matching strategies to support your needs.
5. Performance Monitoring: Providing transparency through routine performance reports and reviewing potential adjustments with you on an ongoing basis.
6. Investment Policy Setting: Our team can help you craft your investment policy, with specific asset class parameters, benchmarks, and risk and return objectives.
Morgan Stanley Family Office1. Asset Allocation Strategy: Designing strategic and tactical asset allocations based on your needs by leveraging capital markets assumptions and portfolio asset allocation modeling.
2. Portfolio Construction: Or institutional-grade portfolio construction process includes rigorous manager analysis, planning, and access to bespoke investments.
3. Institutional Access: Our team unlocks access to institutional thought leaders at Morgan Stanley, including research analysts, and publications.
4. Cash Flow and Financial Liability Management: We can help conduct spending policy analysis, provide liability and future-funding breakdowns, and advise on cash-flow-matching strategies to support your needs.
5. Performance Monitoring: Providing transparency through routine performance reports and reviewing potential adjustments with you on an ongoing basis.
6. Investment Policy Setting: Our team can help you craft your investment policy, with specific asset class parameters, benchmarks, and risk and return objectives.
Holistic Wealth Management
The Welch and Fairclough Group looks at all aspects of an individual's situation to understand the potential impacts that decisions have on the stated goals intended. The ultimate goal is for the client to make more informed, well planned decisions when looking at their life and circumstances holistically.
Our Clients include individuals, couples and families located across the country. We work with current and retired executives, entrepreneurs and business owners. We have also assisted several clients who have started, built and then sold companies, or taken them public. Furthermore, our team works with a number of Nonprofit organizations, Foundations, and Corporate Retirement Plans in helping them achieve their goals.
When navigating the planning process with any client, we remain rooted in our core fundamentals: Integrity, Objectivity, and Commitment. As a team, we believe that our reputation is our most valuable asset; We hold ourselves accountable to the highest level of integrity and seek like-minded clients. With a 100% open architecture investment approach, we are aligned with our clients’ needs for objective advice. Most importantly to us, forming deep and long-lasting relationships with each client allows us to truly understand their needs and determine the most effective strategies for helping meet them.
Our Clients include individuals, couples and families located across the country. We work with current and retired executives, entrepreneurs and business owners. We have also assisted several clients who have started, built and then sold companies, or taken them public. Furthermore, our team works with a number of Nonprofit organizations, Foundations, and Corporate Retirement Plans in helping them achieve their goals.
When navigating the planning process with any client, we remain rooted in our core fundamentals: Integrity, Objectivity, and Commitment. As a team, we believe that our reputation is our most valuable asset; We hold ourselves accountable to the highest level of integrity and seek like-minded clients. With a 100% open architecture investment approach, we are aligned with our clients’ needs for objective advice. Most importantly to us, forming deep and long-lasting relationships with each client allows us to truly understand their needs and determine the most effective strategies for helping meet them.
Drawing on a deep understanding of your financial life, The Welch and Fairclough Group can help you:
1. Manage investments with an unwavering focus on your financial strategy and personal goals
2. Structure your wealth and customize solutions based solely on an objective view of your needs
3. Simplify financial complexity to help you achieve clarity and control
4. Align your strategy with the values that have shaped your life and constitute the core of your legacy
*The Welch and Fairclough Group services clients with a Minimum Liquid Net Worth of $1 Million USD.
2. Structure your wealth and customize solutions based solely on an objective view of your needs
3. Simplify financial complexity to help you achieve clarity and control
4. Align your strategy with the values that have shaped your life and constitute the core of your legacy
*The Welch and Fairclough Group services clients with a Minimum Liquid Net Worth of $1 Million USD.
Community Involvement
Our team is proud to support these causes and the meaningful impact they have on our colleagues, clients, and communities. In every act of service, we help strengthen the places where we live and work.
“No one is useless in this world who lightens the burdens of another.” —Charles Dickens
“No one is useless in this world who lightens the burdens of another.” —Charles Dickens
Young Life
Knox Area Rescue Ministries
Shangri-La Therapeutic Academy of Riding(STAR)
Second Harvest Food Bank
Modern Wealth Tools
Our team strives to make complex financial ideas more digestible so that each of our clients understand what is being done on their behalf to plan for their financial future. As a Morgan Stanley client, you will have access to a plethora of resources, research, and technology to support your unique planning and wealth management needs- No matter your level of investment experience or what your unique goals may be.
From mobile apps to webinars and exclusive research insights, these platforms and resources can help us work together seamlessly towards your goals.
From mobile apps to webinars and exclusive research insights, these platforms and resources can help us work together seamlessly towards your goals.
GIC Weekly
Morgan Stanley Wealth Management’s Global Investment Office is a diverse team of experienced analysts, strategists and economists who provide strategic and tactical advice to guide your portfolio, including timely commentary and special reports from our Global Investment Committee (GIC).
Learn More
Global Investment Office
The Morgan Stanley Global Investment Office provides you with world-class thought leadership timely market commentary, and portfolio ideas to help guide your investment decisions.
Morgan Stanley Portfolio Insights
Morgan Stanley Online
Morgan Stanley Online digital capabilities and the Morgan Stanley Mobile App provide clients with access to their account information, enriched reporting tools, several cash management solutions, and robust market research.
Learn More About MSO >
Total Wealth View
Complete your financial picture with Total Wealth View. By linking your account information, you could benefit from more informed wealth planning, more secure data access, and convenient connectivity.
Get Started Here >
Digital Vault
Digital Vault lets you easily and securely manage and share important documents such as account statements, authorizations, tax filings and other relevant documents with your Financial Advisor.
Get Started
Financial Planning Tools
Morgan Stanley Financial Planning can show you a single, comprehensive snapshot of your finances. We can help you create a wealth plan that’s adaptable to the different stages of your life using our cutting edge tools- Goals Planning System (GPS) and LifeView.
Morgan Stanley Goals-Based Wealth ManagementAWARD-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
1111 Northshore Dr
Suite N 160
Knoxville, TN 37919
US
Direct:
(865) 694-1036(865) 694-1036
Toll-Free:
(800) 448-0020(800) 448-0020
Meet The Welch and Fairclough Group
Matthew Fairclough
Executive Director, Wealth Management, Financial Advisor, Senior Portfolio Management Director, Family Wealth Director, Alternative Investments Director, Lending Specialist
Phone:
(865) 694-1009(865) 694-1009
Cole Skvara, QPFC
Financial Advisor, Financial Planning Specialist
Phone:
(865) 694-1029(865) 694-1029
Brandie Julian
Registered Client Service Associate
Phone:
(865) 694-1036(865) 694-1036
Ben Skvara
Client Service Associate
Phone:
(865) 330-0715(865) 330-0715
About Brian Welch
Brian has over 27 years of experience in the financial services industry. As Managing Director and co-founder of the Welch Fairclough Group, he leads his team to present a cohesive, comprehensive approach to the complex and sophisticated needs of the team’s clientele. Brian excels at implementing personalized plans and works towards offering timely strategies to address clients’ evolving needs.
Brian received his degree in Finance from the University of Tennessee in 1999 and earned The Chartered Wealth Advisor® designation from the Estate and Wealth Planning Strategies Institute of Michigan State University in 2004. The Curriculum advocates for strategies towards accumulation, preservation and transfer of wealth in a tax-efficient manner.
Brian and his wife Mandy are proud parents of three active boys. Brian enjoys many outdoor pastimes, with coaching his boys’ sports teams being at the top of the list. He is active in his church and in the community serving on various boards.
Brian received his degree in Finance from the University of Tennessee in 1999 and earned The Chartered Wealth Advisor® designation from the Estate and Wealth Planning Strategies Institute of Michigan State University in 2004. The Curriculum advocates for strategies towards accumulation, preservation and transfer of wealth in a tax-efficient manner.
Brian and his wife Mandy are proud parents of three active boys. Brian enjoys many outdoor pastimes, with coaching his boys’ sports teams being at the top of the list. He is active in his church and in the community serving on various boards.
Securities Agent: FL, NM, IL, WV, NV, MD, DE, SC, OK, NY, MI, CT, WI, VI, TN, KY, CO, CA, WA, VA, OH, NE, ME, GA, UT, MO, MA, KS, IN, ID, HI, WY, OR, NJ, NC, MT, IA, AZ, TX, RI, PA, AL, AK, NH, DC, AR, VT, MS, MN, LA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1288148
NMLS#: 1288148
About Matthew Fairclough
Matthew focuses on creating personal plans to help clients achieve their goals. Utilizing Morgan Stanley’s research and vast investment options, Matthew evaluates, and monitors the various investment managers to help ensure the clients risk and return profile are met.
Matthew graduated from the University of Tennessee with a degree in Finance in 2001. He began with Morgan Stanley in 2000 and eventually became the Manager of the Morgan Stanley operations in Knoxville. Matthew brought Frank and Brian to Morgan Stanley 2008 from Hilliard Lyons which was the evolution of the Venable Welch and Fairclough Group in 2015.
Matthew and his wife Suzi are proud parents of two, Katie and Grant. Together they love spending time outdoors, traveling and attending UT sporting events. Matthew and Suzi spend much of their time giving back to their community through church and local charities.
Matthew graduated from the University of Tennessee with a degree in Finance in 2001. He began with Morgan Stanley in 2000 and eventually became the Manager of the Morgan Stanley operations in Knoxville. Matthew brought Frank and Brian to Morgan Stanley 2008 from Hilliard Lyons which was the evolution of the Venable Welch and Fairclough Group in 2015.
Matthew and his wife Suzi are proud parents of two, Katie and Grant. Together they love spending time outdoors, traveling and attending UT sporting events. Matthew and Suzi spend much of their time giving back to their community through church and local charities.
Securities Agent: GA, DC, AL, TN, AK, WV, NY, NJ, MO, WY, NE, KY, CT, CO, NV, NC, HI, WA, SC, MN, LA, KS, IL, DE, VA, OK, OH, MT, MI, AZ, WI, VI, TX, ME, AR, IA, CA, VT, RI, NH, MA, FL, UT, PA, OR, NM, MS, IN, MD, ID; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 253028
NMLS#: 253028
About Cole Skvara
An original intern of the Welch and Fairclough Group to now Financial Advisor, clients of the Welch Fairclough Group are very familiar with Cole!
Cole is passionate in building meaningful relationships with his clients. He brings over 5 years of experience in the financial services industry to Morgan Stanley, where he focuses on helping clients achieve their unique financial goals. Known for his client-focused approach, Cole combines deep industry knowledge with a passion of empowering his clients with education and insight.
He received a degree in Finance with collateral in Business Analytics from the University of Tennessee-Knoxville.
Cole also attended Sewanee, The University of the South early in his undergraduate career and played football for the university.
In his free time, Cole enjoys living an active lifestyle. He is an avid fisherman and enjoys this hobby accompanied with his brother, Ben.
He finds fulfillment in giving back to his community, actively participating in philanthropic events and initiatives around the city of Knoxville.
Cole is passionate in building meaningful relationships with his clients. He brings over 5 years of experience in the financial services industry to Morgan Stanley, where he focuses on helping clients achieve their unique financial goals. Known for his client-focused approach, Cole combines deep industry knowledge with a passion of empowering his clients with education and insight.
He received a degree in Finance with collateral in Business Analytics from the University of Tennessee-Knoxville.
Cole also attended Sewanee, The University of the South early in his undergraduate career and played football for the university.
In his free time, Cole enjoys living an active lifestyle. He is an avid fisherman and enjoys this hobby accompanied with his brother, Ben.
He finds fulfillment in giving back to his community, actively participating in philanthropic events and initiatives around the city of Knoxville.
Securities Agent: HI, AZ, AK, AR, UT, OK, MO, MN, MI, MA, CO, NE, LA, KY, CA, MT, MS, WY, SC, NM, ID, WI, IA, FL, OH, KS, DC, VA, NJ, ME, MD, WV, PA, NV, NC, IN, IL, AL, WA, VI, TX, TN, NY, GA, CT; General Securities Representative; Investment Advisor Representative
NMLS#: 2601554
NMLS#: 2601554
About Brandie Julian
Brandie is joining Morgan Stanley with 20 years of experience in sales and customer service. In 2001, she began her career with Cellular Sales of Knoxville, the largest retailer of Verizon Wireless. After having her children, she became an employee benefits broker at TIS Insurance Services in 2015. In 2020, she obtained her real estate license at Coldwell Banker. She is joining Morgan Stanley with a passion for building relationships with clients and delivering excellent customer service.
Brandie is originally from Maryville, Tennessee and a graduate of Maryville High School. She attended the University of Tennessee, Knoxville, where she graduated with a degree in business administration. She lives in Knoxville with her husband, Jeff, and her children Audrey and Johnathan. Brandie is an avid sports fan and loves everything Tennessee Volunteers, riding her Peloton, and working out.
Brandie is originally from Maryville, Tennessee and a graduate of Maryville High School. She attended the University of Tennessee, Knoxville, where she graduated with a degree in business administration. She lives in Knoxville with her husband, Jeff, and her children Audrey and Johnathan. Brandie is an avid sports fan and loves everything Tennessee Volunteers, riding her Peloton, and working out.
About Ben Skvara
Ben is joining Morgan Stanley after working for our team as an Intern, a Team Administrator, and now a Client Service Associate. For the past 4 years, he studied at the University of Tennessee while graduating with a Finance Degree and a Collateral in Supply Chain Management. He is joining Morgan Stanley with a passion for building relationships with clients and delivering excellent customer service.
Athletics have always been a big part of his childhood, and his passion for sports continue to this day. In his collegiate years, he was active member of the Sigma Chi Fraternity and hosted several leadership positions. Originally from Knoxville, Tennessee, Ben is thankful for the opportunity to continue servicing his local community. In his free time, he enjoys living an active lifestyle, fishing, and spending quality time out on the water with his brother, Cole.
Athletics have always been a big part of his childhood, and his passion for sports continue to this day. In his collegiate years, he was active member of the Sigma Chi Fraternity and hosted several leadership positions. Originally from Knoxville, Tennessee, Ben is thankful for the opportunity to continue servicing his local community. In his free time, he enjoys living an active lifestyle, fishing, and spending quality time out on the water with his brother, Cole.
Contact Brian Welch
Contact Matthew Fairclough
Contact Cole Skvara
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
Blair Patteson, CFP®
Managing Director, Private Wealth Management, Private Wealth Advisor, Family Wealth Director, Alternative Investments Director
Morgan Stanley Wealth Management Financial Advisors can conduct their business in several ways: individually, as a member of a team of Financial Advisors, or through the formation of a Strategic Partnership with another Financial Advisor or team of Financial Advisors. A Strategic Partnership is an arrangement between a Financial Advisor or a team of Financial Advisors with another Financial Advisor or team of Financial Advisors that has a unique focus or knowledge regarding a specific business concentration, product area, and/or client type. If your account is with an individual Financial Advisor, that Financial Advisor services all facets of your account. If your account is with a Financial Advisor who is a member of a team, any Financial Advisor on the team can service your account. If your Financial Advisor is part of a Strategic Partnership, his or her role in that Strategic Partnership may be limited to a specific business and/or product area and may not cover all facets of your account. The use of the terms “Partner” or “Strategic Partner” and/or “Partnership” or “Strategic Partnership” are used as terms of art and not used to imply or connote any legal relationship.
Wealth Management
From Our Team
Matthew Fairclough Receives Family Wealth Director Designation
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
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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
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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
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Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
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 Welch and Fairclough Group today.
1Morgan 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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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 and other legal matters.
4Morgan 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.
5Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Morgan 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.
8Investors 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.
9Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
10Morgan 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
11When 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
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 and other legal matters.
4Morgan 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.
5Municipal bonds may not be appropriate for all investors. Income generated from an investment in a municipal bond is generally exempt from federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) and its Financial Advisors and Private Wealth Advisors do not provide any tax/legal advice. Consult your own tax/legal advisor before making any tax or legal-related investment decisions.
6Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
7Morgan 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.
8Investors 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.
9Alternative Investments are speculative and include a high degree of risk. An investor could lose all or a substantial amount of his/her investment. Alternative investments are appropriate only for qualified, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time.
10Morgan 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
11When 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.
12Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
13Fixed Income investing entails credit risks and interest rate risks. When interest rates rise, bond prices generally fall.
14Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
15Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
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)
