Kevin Welsh, CAP®
Executive Director, Financial Advisor, Alternative Investments Director, Chartered Advisor in Philanthropy
Phone:
(402) 399-1541(402) 399-1541
The Welsh Friesen Group at Morgan Stanley
Direct:
(402) 399-1541(402) 399-1541
Toll-Free:
(800) 228-3309(800) 228-3309
Our Mission Statement
To guide business owners and their families through wealth transitions, building enduring legacies that create lasting impact across generations and communities.
The Welsh Friesen Group
We aim to simplify complexity for business owners and their families by providing an integrated team that helps streamline wealth transitions, capitalize on liquidity opportunities, and structure legacies that create a lasting impact for the people and causes that matter most.
We are a team of seasoned financial professionals with a combined 80+ years of financial services experience. Morgan Stanley’s best-in class wealth management platform empowers us to deliver exceptional service to our clients.
We are a team of seasoned financial professionals with a combined 80+ years of financial services experience. Morgan Stanley’s best-in class wealth management platform empowers us to deliver exceptional service to our clients.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
Own A Business?
As a business owner, you’ve spent your career focusing on growing and maintaining your company. Have you had time to think about what comes next? Traveling across the country? Spending more time with family and friends? Trying new hobbies?
Creating and building a successful firm, as well as deciding when to depart —whether through an IPO, merger, private sale, or family succession—is rarely just about money. The process is rigorous, the details are complicated, and the decisions are frequently an unexpected mix of personal and financial considerations.
Creating and building a successful firm, as well as deciding when to depart —whether through an IPO, merger, private sale, or family succession—is rarely just about money. The process is rigorous, the details are complicated, and the decisions are frequently an unexpected mix of personal and financial considerations.
How we can help?
We aim to simplify the complex. How does selling your business impact your taxes? We can assist you by analyzing the effects of your business sale on your income or capital gains taxes. After the sale has settled, we examine your future goals, aspirations, and legacy concerns.
Why Us?
We are an experienced group of Financial Advisors who have decades of experience working with business owners. We provide value by knowing which questions to ask and bringing relevant tools to the table when you are planning for your next steps.
Life After Selling a Business
If you have poured years—maybe even decades—of your life into building a business, the time to sell may come with mixed emotions. Figuring out what comes after this significant milestone can seem daunting. We work with business owners to create a clear financial plan to help ensure the best outcome for founders, families and businesses.
Concentrated Stock and Options Analysis
Designed for executives who have significant wealth in stock and options of their company, The concentrated stock and options analysis illustrates various valuations of holdings as well as hypothetical diversification scenarios.
The Framework to Make Informed Financial Decisions
Our wealth management strategy is centered around you, your family, and your profession - where you are now and where you want to be in the future. We provide the structure to help you get there. Check out our process below:
1. Gather Data
Wealth management is not a one size fits all solution. It is a complex road map, navigating you to financial freedom. To reach your goals, we start by understanding and mapping your current financial position: bank accounts, retirement benefits, insurance policies, and any additional assets that could have an impact on future decisions.
2. Discuss and Set Goals
Determining when you want to retire, how much you want to travel, or if you plan on purchasing a vacation home are key aspects of defining what you want retirement to look like. Whatever your goals are, our job is to prioritize what's important to you and make sure you have the flexibility to execute.
3. Develop a Plan and Strategy
We utilize robust financial planning software, creating a unique and detailed plan with recommendations to help you grow, maintain, and transfer your wealth.
4. Implement and Execute Plan
We present appropriate strategies designed to help you achieve your goals. After reviewing with you and receiving your approval, we will implement the aforementioned strategies, and subsequently track your progress to attaining your goals.
5. Maintain and Update
We continuously monitor your progress toward your goals and make updates to your financial plan when necessary to keep you on track.
MANAGING FAMILY WEALTH
Our team delivers a full range of expertise to help address different aspects of your financial life to mitigate taxes, transfer wealth, enhance philanthropic impact, reduce family conflict, and manage the affluent lifestyle.
Estate Planning
We analyze our client's tax and estate structures so that their tax characteristics are accurately incorporated in their asset allocation strategy.
The Importance of an Estate Plan
Alternative Investments
Our leading alternatives platform offers 200+ third-party and proprietary funds, including first look and exclusive opportunities, that may help qualified investors enhance returns, reduce volatility, manage taxes and generate income. From simplified vehicles available more broadly to institutional strategies, the platform supports a goals-based approach for asset allocation tailored to investor needs.
Morgan Stanley Alternative Investments
Family Office Capabilities
When it comes to providing institutional-level support for your family office, scale matters. Our offering aims to bring together specialized investment services and operational support to enhance your life and legacy.
Learn More
Cybersecurity
Safeguarding your assets and information is one of our highest priorities, but you also have a critical role to play. Check out our collection of practical takeaways and best practices from our cybersecurity professionals, then explore a few of the ways we help protect you.
Security Center
Philanthropic Planning
Many of us prefer to combine our support for the causes and people we care about with a desire to save on taxes. Fortunately, there are strategies that may help us accomplish both. Whether you want to donate to charity or invest in a loved-one's future, consider these tax‐smart ways to help make your giving go further. Kevin Welsh holds a Chartered Advisor in Philanthropy Designation which allows him to help clients identify philanthropic intent and maximize their legacies.
Tax Savvy Ways of Giving BackRESEARCH AND DIGITAL TOOLS
As a Morgan Stanley client, you have access to a suite of digital tools and resources aimed at helping you manage your finances with greater ease.
The Welsh Friesen Group Quarterly Newsletter
Welcome to The Welsh Friesen Group at Morgan Stanley Quarterly newsletter! In this issue, we'll be covering the latest market trends, economic indicators, and potential investment opportunities. Our team has been closely monitoring global events and economic data to provide you with these valuable insights. Please enjoy the read!
Read Here
Morgan Stanley Online
Morgan Stanley Online allows you to seamlessly and securely manage your investments and everyday finances in one place.
Register for Morgan Stanley Online Today
Big Beautiful Bill Tax Provisions
In partnership with Morgan Stanley Government Relations, we outline some of the most frequently discussed tax provisions included in the "Big Beautiful Bill".
Big Beautiful Bill Summary
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 Today
Total Wealth View
Complete your financial picture with Total Wealth View. By linking your account information, you will benefit from more informed wealth planning, more secure data access, as well as a complete view of your assets and liabilities whether they are held at Morgan Stanley or elsewhere.
Link Your External Accounts Using Total Wealth View
Portfolio Risk Platform
Our Portfolio Risk Platform, backed by institutional-caliber analytics, assesses thousands of risk factors using a holdings-based approach to assess a portfolio’s exposures, analyze how securities behave together across portfolios and forecast how they influence risk and return moving forward.
Portfolio Risk Platform
Reserved Living & Giving
Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley's most valued clients. Members can enjoy special discounts and timely insights to support them at home and beyond.
View Offers from Reserved Living & Giving
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 InsightsLocation
13625 California St
Ste 400
Omaha, NE 68154
US
Direct:
(402) 399-1541(402) 399-1541
Toll-Free:
(800) 228-3309(800) 228-3309
Meet The Welsh Friesen Group
Patrick Friesen, CFP®, CPWA®
Senior Vice President, Financial Advisor, Certified Private Wealth Advisor®, CERTIFIED FINANCIAL PLANNER®, Alternative Investments Director
Phone:
(402) 399-1580(402) 399-1580
Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Certified Private Wealth Advisor®, Insurance Planning Director
Phone:
(402) 399-6310(402) 399-6310
Dawn Bonacci
Assistant Vice President, Wealth Management Associate
Phone:
(402) 399-1548(402) 399-1548
William Koll
Registered Client Service Associate, Financial Planning Specialist
Phone:
(402) 399-1549(402) 399-1549
About Kevin Welsh
Kevin Welsh is an Executive Director and Financial Advisor with the Welsh Friesen Group at Morgan Stanley, boasting over 25 years in the financial services industry. He and his team focus on crafting personalized portfolios and wealth management strategies for business owners, executives, and families.
Kevin graduated from the University of Nebraska at Omaha with a Bachelor’s in Business Administration with a Marketing concentration and has been with Morgan Stanley since 1999. He and his team take a comprehensive, 360-degree approach to financial planning, seeking to address every aspect of a client's financial life. The group bristles at the opportunity to face complex challenges and execute with team-based strategies. Kevin's Chartered Advisor in Philanthropy® designation aids him in guiding clients toward their charitable goals. He also has extensive experience with alternative investments.
Raised on a farm near Springfield, Nebraska, Kevin has expanded his footprint and traveled to over 40 countries and 49 states, with Alaska still on his list. His global experiences helped him forge a balanced perspective in a dynamic world. Kevin is active in his community and participates in the Suburban Rotary of Omaha. In his free time, he enjoys traveling, racing, copper artisan work, working out, and spending time with his wife and family.
Kevin graduated from the University of Nebraska at Omaha with a Bachelor’s in Business Administration with a Marketing concentration and has been with Morgan Stanley since 1999. He and his team take a comprehensive, 360-degree approach to financial planning, seeking to address every aspect of a client's financial life. The group bristles at the opportunity to face complex challenges and execute with team-based strategies. Kevin's Chartered Advisor in Philanthropy® designation aids him in guiding clients toward their charitable goals. He also has extensive experience with alternative investments.
Raised on a farm near Springfield, Nebraska, Kevin has expanded his footprint and traveled to over 40 countries and 49 states, with Alaska still on his list. His global experiences helped him forge a balanced perspective in a dynamic world. Kevin is active in his community and participates in the Suburban Rotary of Omaha. In his free time, he enjoys traveling, racing, copper artisan work, working out, and spending time with his wife and family.
Securities Agent: VA, NV, NM, GA, AZ, DC, NE, MO, IA, FL, CA, AR, IL, CT, MI, TX, TN, KS, NC, MA, WY, WI, SC, NH, MN, OK, OH, NY, CO, WA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 2102631
NMLS#: 2102631
About Patrick Friesen
Patrick Friesen is a Financial Advisor with the Welsh Friesen Group at Morgan Stanley, bringing over 18 years of experience to the table. He focuses on helping clients clearly understand and prioritize their financial goals through open discussions and education. His aim is to help clients and their families feel confident and informed about how their investments, insurance, liabilities, and estate plans work together now and in the future.
As a CERTIFIED FINANCIAL PLANNER® and Certified Private Wealth Advisor®, Patrick holds advanced credentials in financial planning. His extensive study and ongoing education aim to keep him well-versed in the latest developments in investments, insurance, taxes, and estate planning strategies to help provide informed options for his clients financial futures.
He graduated from Chadron State College with a degree in Business Administration, concentrating in finance, and joined Morgan Stanley in 2005. Raised on a farm near Henderson, Nebraska, he learned the value of hard work and perseverance early on. Patrick is actively involved in his community and is happily married with five children. He enjoys working out, golfing, and reading in his spare time.
As a CERTIFIED FINANCIAL PLANNER® and Certified Private Wealth Advisor®, Patrick holds advanced credentials in financial planning. His extensive study and ongoing education aim to keep him well-versed in the latest developments in investments, insurance, taxes, and estate planning strategies to help provide informed options for his clients financial futures.
He graduated from Chadron State College with a degree in Business Administration, concentrating in finance, and joined Morgan Stanley in 2005. Raised on a farm near Henderson, Nebraska, he learned the value of hard work and perseverance early on. Patrick is actively involved in his community and is happily married with five children. He enjoys working out, golfing, and reading in his spare time.
Securities Agent: MO, MA, KS, CA, FL, WY, WA, OH, NM, NH, MI, DE, TX, NY, SC, OK, NV, AL, IA, CT, GA, CO, NC, MN, IL, AR, AZ, VA, TN, WI, NE; BM/Supervisor; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1802245
NMLS#: 1802245
About Jeff Dolejs, CFP®, CPWA®, MBA
Jeff Dolejs is a Financial Advisor and member of the Welsh Friesen Group at Morgan Stanley, bringing 10 years of experience in financial services. As a CERTIFIED FINANCIAL PLANNER™ professional and Certified Private Wealth Advisor® designee, Jeff holds in-demand financial planning credentials in the field.
He earned both his MBA and Bachelor’s in Business Administration from the University of Nebraska at Omaha and has completed the Wealth Management Theory & Practice program at Yale School of Management.
Originally from Fremont and raised in Elkhorn, Jeff played hockey and spent summers enjoying water sports in Valley. In his free time, he loves cooking, golfing, attending wetland conservation events with his father, and watching NHL and NFL games.
He plays Guitar Hero on the Expert setting.
He earned both his MBA and Bachelor’s in Business Administration from the University of Nebraska at Omaha and has completed the Wealth Management Theory & Practice program at Yale School of Management.
Originally from Fremont and raised in Elkhorn, Jeff played hockey and spent summers enjoying water sports in Valley. In his free time, he loves cooking, golfing, attending wetland conservation events with his father, and watching NHL and NFL games.
He plays Guitar Hero on the Expert setting.
Securities Agent: KS, CT, MA, NY, CO, CA, NE, WY, NH, TX, TN, FL, MO, IL, IA, MI, AZ, OH, NM, NC, MN, MD, AR, WI, WA, VA, NV, GA, SC, OK; General Securities Representative; Investment Advisor Representative
NMLS#: 1973199
NMLS#: 1973199
About Dawn Bonacci
Dawn Bonacci is a Wealth Management Associate with the Welsh Friesen Group at Morgan Stanley. With over 25 years of experience, she is the liaison between clients and Financial Advisors helping to manage all day-to-day business and investment needs for the team.
Dawn received her degree from Northwest Missouri State University and she joined Morgan Stanley as a Client Service Associate in 1992. With her strong work ethic and attentive approach, Dawn ensures that clients' needs are not only met with diligence, but in keeping with their larger financial goals.
In her free time, Dawn enjoys reading, bowling and gardening. She also loves spending time with her husband and two boys.
Dawn received her degree from Northwest Missouri State University and she joined Morgan Stanley as a Client Service Associate in 1992. With her strong work ethic and attentive approach, Dawn ensures that clients' needs are not only met with diligence, but in keeping with their larger financial goals.
In her free time, Dawn enjoys reading, bowling and gardening. She also loves spending time with her husband and two boys.
About William Koll
William Koll is a Registered Client Service Associate and Financial Planning Specialist with the Welsh Friesen Group at Morgan Stanley. He acts as the connector for the group's clients and Financial Advisors, helping to manage Alternative Investment orders and other investment needs for the team.
William joined the Welsh Friesen Group in 2023 after working at another brokerage firm and a stint in the insurance industry.
In his free time, William enjoys golfing, reading, and traveling.
William joined the Welsh Friesen Group in 2023 after working at another brokerage firm and a stint in the insurance industry.
In his free time, William enjoys golfing, reading, and traveling.
Contact Kevin Welsh
Contact Patrick Friesen
Contact Jeff Dolejs, CFP®, CPWA®, MBA
Hear From Our Clients
My wife and I work closely with Kevin Welsh and his colleague, Dawn, at Morgan Stanley. We speak often about our portfolio, needs, and long-term plans. Our finances can be complex, but Kevin’s guidance has been a lifesaver. He helps us make thoughtful decisions and reviews our goals regularly so we stay on track. We’ve been very pleased and have recommended Kevin and his team to our family.
Adam
Verified ClientOctober 6, 2025
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
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Wealth Management
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Portfolio Insights
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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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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
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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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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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 Welsh Friesen Group today.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
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.
5Morgan 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
6When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
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 and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
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.
2When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
3Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors 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.
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.
5Morgan 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
6When 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 always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
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 and other legal matters.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Testimonial(s) solicited by Morgan Stanley and provided by current client(s) at the time of publication. No compensation of any kind was provided in exchange for the client testimonial(s) presented. Client testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success.
Awards Disclosures | Morgan Stanley
CRC 4665150 (8/2025)
