Senior Vice President, Financial Advisor, Senior Portfolio Management Director, Family Wealth Advisor
Phone:
(775) 982-8644(775) 982-8644
Industry Award WinnerOur Mission Statement
Experience, intellectual capital and dedicated personal service to help you meet your life goals.
Our Story and Services
“Am I on pace to retire on time?”
“Will I outlive my money?”
“How do I leave a lasting legacy for my family?”
We find the answers to these questions and many more for our clients. The Wohletz/Schug Group is a team of dedicated Financial Advisors in the Northern Nevada area focused on helping our clients achieve their goals. We help individuals, families, local businesses, and non-profits by providing comprehensive financial planning suited to their needs. We take the time to get to know each client and truly care about their financial life. We make sure we completely understand your situation and customize a comprehensive financial plan to help you achieve your goals.
A major area of focus for us is helping families leave a lasting legacy. An often overlooked aspect is the transfer of values from parents to children and the generations that follow. Providing straightforward, no nonsense advice can give them the confidence and peace of mind to live a more fulfilling life. We make sure we are there to help every generation on the way to a better financial future.
We take pride in servicing many local community organizations and non-profits. We take the time to understand what the organization needs, and then construct a proper investment plan to help get them there. By establishing specific guidelines and utilizing multiple accounts we help them achieve short, intermediate, and long-term goals.
We would love to set connect and learn about your financial goals.
Please contact Leonard at 775-982-8644 or Leah at 775-823-8625
“Will I outlive my money?”
“How do I leave a lasting legacy for my family?”
We find the answers to these questions and many more for our clients. The Wohletz/Schug Group is a team of dedicated Financial Advisors in the Northern Nevada area focused on helping our clients achieve their goals. We help individuals, families, local businesses, and non-profits by providing comprehensive financial planning suited to their needs. We take the time to get to know each client and truly care about their financial life. We make sure we completely understand your situation and customize a comprehensive financial plan to help you achieve your goals.
A major area of focus for us is helping families leave a lasting legacy. An often overlooked aspect is the transfer of values from parents to children and the generations that follow. Providing straightforward, no nonsense advice can give them the confidence and peace of mind to live a more fulfilling life. We make sure we are there to help every generation on the way to a better financial future.
We take pride in servicing many local community organizations and non-profits. We take the time to understand what the organization needs, and then construct a proper investment plan to help get them there. By establishing specific guidelines and utilizing multiple accounts we help them achieve short, intermediate, and long-term goals.
We would love to set connect and learn about your financial goals.
Please contact Leonard at 775-982-8644 or Leah at 775-823-8625
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
THE PLANNING PROCESS
To reach your goals, you need a wealth plan informed by a comprehensive assessment of your current budget and finances, clear objectives and sound advice that puts you in the center of the process. The Wohletz/Schug Group at Morgan Stanley uses a four-step Goals Planning System (GPS) to create your personal roadmap towards financial achievement and protection.
1. Discover: Understand your values, objectives and quantify your goals.
2. Advise: Create a tailored wealth plan to help keep you on track.
3. Implement: Add value with tax-aware and cost-sensitive capabilities.
4. Monitor: Continually track progress so that you know where you stand relative to your goals and adjust to changing needs and circumstances.
The team's years of experience combined with Morgan Stanley’s state of the art technology, intellectual capital and extensive resources enables them to create customized, holistic plans that consist of:
- Professional Portfolio Management
- Advanced Risk Analytics
- Tax Mitigation Strategies
- Estate Planning Strategies
- Philanthropic and Legacy Planning
- Liquidity and Borrowing Needs
- Hedging and Monetization Strategies for Concentrated Equity Positions
The Wohletz/Schug Group believes in regular communication, scheduled progress updates and continuous monitoring of plans to help ensure that clients remain on track toward meeting their goals.
1. Discover: Understand your values, objectives and quantify your goals.
2. Advise: Create a tailored wealth plan to help keep you on track.
3. Implement: Add value with tax-aware and cost-sensitive capabilities.
4. Monitor: Continually track progress so that you know where you stand relative to your goals and adjust to changing needs and circumstances.
The team's years of experience combined with Morgan Stanley’s state of the art technology, intellectual capital and extensive resources enables them to create customized, holistic plans that consist of:
- Professional Portfolio Management
- Advanced Risk Analytics
- Tax Mitigation Strategies
- Estate Planning Strategies
- Philanthropic and Legacy Planning
- Liquidity and Borrowing Needs
- Hedging and Monetization Strategies for Concentrated Equity Positions
The Wohletz/Schug Group believes in regular communication, scheduled progress updates and continuous monitoring of plans to help ensure that clients remain on track toward meeting their goals.
LifeView - Intelligent Planning
LifeView is a suite of planning tools that includes goal-specific analysis that we can use to create a realistic, holistic strategy that integrates the various aspects of an individual's financial life, including investments and cash management needs.
LifeView QuestionnaireGoals Planning System
Our Goals Planning System (GPS) is an innovative platform built on Morgan Stanley's intellectual capital and capabilities, to provide our clients with comprehensive investing and planning solutions for their individual goals.
Learn More About GPSWealth of Knowledge
Here at Morgan Stanley, we strive to simplify complex financial ideas so that our clients understand what is being done on their behalf to plan for their financial future. We want to provide our clients with as many resources as possible so they can stay informed about the latest market trends, outlooks, and breakdowns. The links below provide detailed analysis on interesting topics that are affecting the finance and business worlds
Financial Literacy for Any Stage of Your Life
Financial literacy means being equipped with the knowledge to make smart financial decisions during every stage of your life. No matter your current priorities, a strong financial literacy foundation can help you meet your goals.
Read More
Mid-Year Financial Planning Checklist
Changes in the market or shifts in your personal circumstances may require adjustments to your financial plan. Here’s a mid-year checklist to help get you started.
Read More
Help Simplify Your Life through Financial Consolidation
Suffering from “account sprawl” because you have accounts with many different financial institutions? New options can help.
Learn More
A Simple Six-Step Retirement Checkup
Checking in on your retirement plan may make a lot of sense, especially when market volatility arises.
Learn More
GIC Weekly Research Report
The Global Investment Committee's Lisa Shalett headlines this weekly look at markets, asset class performance and fixed income.
Read the Latest Report
On the Markets Research Report
Detailed market commentary from Morgan Stanley's thought leaders on topics such as global equities, fixed income, monetary policy and more.
Read the Latest Report
What Should I Do With My Money Podcast
Matching real people, asking real questions about their money, with experienced Financial Advisors. You’ll hear answers to important questions like: Is now the right time to buy a house? What to do if your business fails? How should I be saving to cover the cost of college? How much do I really need to retire and am I on track? Join us as our guests share their stories around life's major moments. And hear the difference a conversation can make.
Listen to the Latest Episode
Thoughts on the Market Podcast
Perspectives on the forces shaping markets.
Listen to the Latest EpisodeMODERN WEALTH TOOLS AND RESOURCES
Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies that we offer our clients.
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
eDelivery
Sign up for eDelivery today and start receiving email notifications as soon as your account documents are available on Morgan Stanley Online or the Morgan Stanley Mobile App. It's quick, convenient & secure.
Enroll Today
Total Wealth Tool
Managing multiple financial accounts across different firms can be complicated. With Morgan Stanley Online and Total Wealth View, you can link your non-Morgan Stanley accounts and analyze your cash flow all in one place.
Learn More
Goals Based Planning
Working with us, paired with our technology, is a great way to access advice and build a wealth plan. Read more about the advantages of working with our planning technology in reaching your financial goals.
Learn More about our Planning Tools
Security Center
Learn about our latest security measures, how we are safeguarding your assets and personal information and find actionable insights and resources on important cybersecurity topics to enhance your own online security.
Visit our Security Center
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
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
Upcoming Firm Events
The Lessons in Leadership Virtual Event Series will continue throughout 2025.
Check back soon for details on upcoming events.
Location
5390 Kietzke Lane
Suite 200
Reno, NV 89511
US
Direct:
(775) 982-8644(775) 982-8644
Meet The Wohletz Schug Group
Senior Vice President, Wealth Management, Financial Advisor, Certified Divorce Financial Analyst, Portfolio Manager, CERTIFIED FINANCIAL PLANNER®
Phone:
(775) 823-8625(775) 823-8625
Jennifer Zimmerman
Group Director
Phone:
(775) 823-8632(775) 823-8632
Alex Mallett
Registered Client Service Associate
Phone:
(775) 823-8614(775) 823-8614
Jordan Lawshe
Registered Client Service Associate
Phone:
(775) 823-8609(775) 823-8609
About Leonard R. Wohletz III
I have been a Financial Advisor with Morgan Stanley serving individuals, high net worth families, non-profits and corporations since 1998. Along with my partner on The Wohletz, Schug Group, I help my clients make the best decisions possible for their individual needs and goals. We focus on providing individually tailored advice and solutions to our clients in a customized manner based upon their specific and unique situations. We do this by providing: Financial Planning, Retirement Planning, Estate Planning Strategies, Insurance Planning and Investment selection and Management.
One major area of focus for us is helping families leave a lasting legacy. An often overlooked aspect is the transfer of values from parents to children and the generations that follow. Providing straightforward no nonsense advice can give them the confidence and peace of mind to live a more fulfilling life.
Outside of work, I enjoy giving back to the community. Currently, I am a board member of the Northern Nevada Children's Cancer Foundation and on the Board of Trustees and the Investment Committee of the University of Nevada Foundation. Previously, I was the Chairman of the Board of the Better Business Bureau of Northern Nevada, President of the University of Nevada Young Alumni Association and a board member of the University of Nevada Alumni Council.
I am a Reno Native and earned a Bachelor of Science majoring in Economics at the University of Nevada Reno in 1998. My wonderful wife Lori and I live in Southwest Reno. One of the great joys in our life has been watching our two daughters grow into strong and independent young women. Together, we enjoy hiking, skiing, and spending time together at Lake Tahoe. We are also diehard fans of Nevada Wolf Pack Athletics.
I welcome the opportunity to get to know you and your specific needs and concerns to determine whether we might be of value for you and your family.
Please contact me at (775) 982-8644 or Leonard.wohletz@morganstanley.com to begin a dialogue.
One major area of focus for us is helping families leave a lasting legacy. An often overlooked aspect is the transfer of values from parents to children and the generations that follow. Providing straightforward no nonsense advice can give them the confidence and peace of mind to live a more fulfilling life.
Outside of work, I enjoy giving back to the community. Currently, I am a board member of the Northern Nevada Children's Cancer Foundation and on the Board of Trustees and the Investment Committee of the University of Nevada Foundation. Previously, I was the Chairman of the Board of the Better Business Bureau of Northern Nevada, President of the University of Nevada Young Alumni Association and a board member of the University of Nevada Alumni Council.
I am a Reno Native and earned a Bachelor of Science majoring in Economics at the University of Nevada Reno in 1998. My wonderful wife Lori and I live in Southwest Reno. One of the great joys in our life has been watching our two daughters grow into strong and independent young women. Together, we enjoy hiking, skiing, and spending time together at Lake Tahoe. We are also diehard fans of Nevada Wolf Pack Athletics.
I welcome the opportunity to get to know you and your specific needs and concerns to determine whether we might be of value for you and your family.
Please contact me at (775) 982-8644 or Leonard.wohletz@morganstanley.com to begin a dialogue.
Securities Agent: FL, CT, UT, PA, GA, AL, NV, NJ, CA, AR, TN, SC, CO, OH, NY, NC, MD, DE, VA, MT, MO, MI, TX, AZ, IL, OK, SD, WY, KS, WI, AK, WA, OR, MA, ID; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1288023
CA Insurance License #: 0D28957
NMLS#: 1288023
CA Insurance License #: 0D28957
About Leah H. Jacobson Schug
I began my career in Wealth Management in 2011 and have been a Financial Advisor at Morgan Stanley since 2014. As a member of the Wohletz/Schug Group, I help individuals and families plan out their financial lives. As a Financial Advisor, my job is to be a financial guide and bring peace of mind to my client’s financial lives. I deeply care about my clients and take the time to get to know the ins and outs of your life. Whether this includes managing your retirement, funding a child’s education, or helping you leave a lasting legacy, I tailor my advice to each client based on their unique goals.
I attended St Mary’s College of California and received a Bachelor’s degree in Sociology and Anthropology. Since then I have received the Certified Divorce Financial Analyst designation. As a CDFA®, I understand the financial complexities that come with going through a divorce and am here to help you manage your finances effectively throughout the process. I have served as a leader and presenter of the nationally recognized Second Saturday Divorce Workshop program since 2015, helping hundreds of people navigate the financial aspects of Divorce. I am also a member of the Nevada Collaborative Divorce Professionals who work with families to resolve disputes through cooperative strategies to dissolve a marriage with less stress, time and expense. I have also earned my CERTIFIED FINANCIAL PLANNER™ designation. Being a CFP® means I fully understand the value of having a sound financial plan in place. I make sure I take the time to truly get to know your entire situation and goals, and then set out a financial plan designed to take you there.
Outside of work I enjoy skiing, kayaking and hiking throughout Northern Nevada and Northern California. My family and I have been lucky to call the Sierra Nevada’s home for decades.
I attended St Mary’s College of California and received a Bachelor’s degree in Sociology and Anthropology. Since then I have received the Certified Divorce Financial Analyst designation. As a CDFA®, I understand the financial complexities that come with going through a divorce and am here to help you manage your finances effectively throughout the process. I have served as a leader and presenter of the nationally recognized Second Saturday Divorce Workshop program since 2015, helping hundreds of people navigate the financial aspects of Divorce. I am also a member of the Nevada Collaborative Divorce Professionals who work with families to resolve disputes through cooperative strategies to dissolve a marriage with less stress, time and expense. I have also earned my CERTIFIED FINANCIAL PLANNER™ designation. Being a CFP® means I fully understand the value of having a sound financial plan in place. I make sure I take the time to truly get to know your entire situation and goals, and then set out a financial plan designed to take you there.
Outside of work I enjoy skiing, kayaking and hiking throughout Northern Nevada and Northern California. My family and I have been lucky to call the Sierra Nevada’s home for decades.
Securities Agent: AZ, OR, OH, DE, MA, UT, GA, CT, CA, NV, NC, AK, OK, IL, SD, KS, WI, RI, NJ, MI, IN, ID, TN, AR, WY, PA, VA, TX, SC, NY, MT, MO, MD, FL, CO, AL, WA; General Securities Representative; Investment Advisor Representative
NMLS#: 1295644
CA Insurance License #: 0H98429
NMLS#: 1295644
CA Insurance License #: 0H98429
About Alex Mallett
Alex Mallett is a graduate of the University of Reno, Nevada where he earned his Bachelor of Science in Finance and a Minor in Economics. He started his professional career here at Morgan Stanley in 2024 and has been actively expanding his skill sets by earning the SIE, Series 7 & Series 66 licenses. Alex is committed to lifelong learning so that he can continue to provide exceptional service to our clients.
About Jordan Lawshe
Jordan, a native of Pilot Hill, California, is a former relationship banker at Chase Bank in Portland, Oregon. Her time at Chase allowed her to obtain multiple licenses, including the SIE, Series 6, and Series 63. Upon moving to Reno, she has further expanded her expertise by achieving her Series 7 and Series 65. With her exceptional relationship management skills, Jordan is well-equipped to assist the team and our clients in a meaningful way.
Contact Leonard R. Wohletz III
Contact Leah H. Jacobson Schug
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2023-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2023-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Wealth Management
Global Investment Office
Portfolio Insights
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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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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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
Ready to start a conversation? Contact The Wohletz Schug Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley 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 and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan Stanley 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 and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
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.
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC 4665150 (8/2025), 5378280 (5/2026)
