Drew Zager
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(310) 788-2130(310) 788-2130
Morgan Stanley Private Wealth Management
Zager Fixed Income Management
Direct:
(310) 788-2130(310) 788-2130
Our Mission Statement
ZFIM creates customized solutions to help investors outperform their fixed income targets and achieve competitive yields while protecting their principal.
Welcome
Zager Fixed Income Management focuses on discretionary account management of cash and fixed income portfolios, working closely with client's risk profile and income requirements. Client accounts can be fully customized to meet specific investment preferences and constraints.
Our team consists of fourteen professionals who run some of Morgan Stanley's largest, separately managed, fixed income and cash portfolios. As of 3/31/26, the team manages $29.5 billion for insurance companies, public and private corporations, foundations and ultra-high net worth individuals. This includes approximately $2.7 billion in custodied assets at the largest US custodians.
Our exceptionally experienced team builds and actively manages highly customized fixed-income portfolios, providing:
- Dedicated fixed income managers
- Tailored, high-grade, cash portfolios
- Customized investment guidelines
- Street wide coverage and institutional execution
- Independent credit research
- Direct access to portfolio manager and trading team
- Online portfolio access provides position data and account reporting
- Third-party custodial capabilities
For Taxable Accounts:
- Strong tax background and focus on after-tax total return
Our team consists of fourteen professionals who run some of Morgan Stanley's largest, separately managed, fixed income and cash portfolios. As of 3/31/26, the team manages $29.5 billion for insurance companies, public and private corporations, foundations and ultra-high net worth individuals. This includes approximately $2.7 billion in custodied assets at the largest US custodians.
Our exceptionally experienced team builds and actively manages highly customized fixed-income portfolios, providing:
- Dedicated fixed income managers
- Tailored, high-grade, cash portfolios
- Customized investment guidelines
- Street wide coverage and institutional execution
- Independent credit research
- Direct access to portfolio manager and trading team
- Online portfolio access provides position data and account reporting
- Third-party custodial capabilities
For Taxable Accounts:
- Strong tax background and focus on after-tax total return
Capabilities
- Investment Management
- Pre-Liquidity Planning
- Risk Management
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
About PWM
Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
- Manage investments with an unwavering focus on your financial strategy and personal goals
- Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
- Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
- Approximately 300 teams specialized in assisting individuals and families with $20MM+ in investable assets
- Over $1.2 trillion in AUM
- Comprising 26% of the Barron’s Top 100 Financial Advisors list for 2025
- Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, September 2025
Source: Barron's (Awarded March 2025) This ranking was determined based on an evaluation process conducted by Barron's for the period Oct 2023-Sept 2024. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to Barron's to obtain or use the ranking. This ranking is based on an algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the assessment of Barron's and may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
Our Research, Made For You
Welcome to our Research tab. Here, you’ll find a growing library of our publicly available content and market commentary, curated to help you stay informed on key trends, themes, and developments. We will continue to add new publications over time, so please check back regularly for the latest updates. If any materials here are of interest, or if you would like to discuss these insights in more detail, please use the Contact Us button and a member of our team will be pleased to connect.
Your Fixed Income Introduction
This deck gives an overview of our active fixed income approach, allowing you to better understand our strategies as well as our team.
Click Here
Fixed Income Perspectives - February 2026
Here is our February 2026 Fixed Income Perspectives, where we share what we are seeing on interest rates, inflation, economic growth, and major bond markets. We highlight the key themes we find most important. Check back every month for our new edition.
Click HerePhilosophy
We follow a highly disciplined process in our quest to maximize after-tax returns.
Our fixed income management objectives are to ensure the protection of principal, maximize after-tax return and maintain ample liquidity for cash flow and potential reinvestment needs. We manage diversified portfolios with no positions exceeding 5% of the portfolio at cost, and do not employ leverage.
In addition to seeking to preserve market value through portfolios with high-quality diversified issues, we create customized maturity structures to meet any capital calls and planned expenditures. We utilize liquid and marketable short securities that provide attractive relative returns compared to traditional cash management alternatives. All investment decisions are made in accordance with the account's investment guidelines. All trades executed with firms unaffiliated with Morgan Stanley on an agency basis. The exclusion of trading on a principal basis can eliminate potential conflicts of interest.
Every day, we monitor and evaluate macroeconomic trends to identify favorable or negative sectors. We examine credit quality, bond structure, duration and other criteria, looking for issues or issuers that exude favorable characteristics or are relatively undervalued.
Our fixed income management objectives are to ensure the protection of principal, maximize after-tax return and maintain ample liquidity for cash flow and potential reinvestment needs. We manage diversified portfolios with no positions exceeding 5% of the portfolio at cost, and do not employ leverage.
In addition to seeking to preserve market value through portfolios with high-quality diversified issues, we create customized maturity structures to meet any capital calls and planned expenditures. We utilize liquid and marketable short securities that provide attractive relative returns compared to traditional cash management alternatives. All investment decisions are made in accordance with the account's investment guidelines. All trades executed with firms unaffiliated with Morgan Stanley on an agency basis. The exclusion of trading on a principal basis can eliminate potential conflicts of interest.
Every day, we monitor and evaluate macroeconomic trends to identify favorable or negative sectors. We examine credit quality, bond structure, duration and other criteria, looking for issues or issuers that exude favorable characteristics or are relatively undervalued.
Fixed Income Strategies
Taxable:
* Cash Management
* Core Fixed Income
* Short, Intermediate & Long Duration
* Preferred Stock
Tax-Advantaged:
* Cash Management
* Short, Intermediate, & Long Duration
* National/State Focus
* Cash Management
* Core Fixed Income
* Short, Intermediate & Long Duration
* Preferred Stock
Tax-Advantaged:
* Cash Management
* Short, Intermediate, & Long Duration
* National/State Focus
Clients
We manage high-grade fixed-income assets for some of the world’s wealthiest and most influential people. Our clients include several billionaires, many of the world’s most prominent entertainers, entrepreneurs, business executives and an extensive list of foundations, hedge funds and other institutional clients. We work to develop a comprehensive understanding of each client’s specific goals, challenges and risk tolerances so we can design and implement a highly customized fixed-income portfolio to address our clients’ needs. Zager Fixed Income Management works closely with each client to implement strategies that provide flexible liquidity and tax-exempt solutions that best fulfill their financial imperatives.
Focus On Fixed Income Investments:
Taxable:
* Government securities
* Corporate securities
* Mortgage and asset-backed securities
* Floating rate and callable notes
* Taxable municipals
* Money market funds and other short-term securities
* Preferred Stock
Tax-Exempt:
* Tax-exempt municipal bonds
* Put bonds
* Tax-exempt commercial paper
* Private activity
* Callable and cushion issues
Click below to watch Morgan Stanley's Vice Chairman Gary Kaminsky commend ZagerFIM (03:15) around the 3 minute mark on CNBC:
Morgan Stanley's Gary Kaminsky on CNBC* Government securities
* Corporate securities
* Mortgage and asset-backed securities
* Floating rate and callable notes
* Taxable municipals
* Money market funds and other short-term securities
* Preferred Stock
Tax-Exempt:
* Tax-exempt municipal bonds
* Put bonds
* Tax-exempt commercial paper
* Private activity
* Callable and cushion issues
Click below to watch Morgan Stanley's Vice Chairman Gary Kaminsky commend ZagerFIM (03:15) around the 3 minute mark on CNBC:
Location
1999 Avenue of the Stars
Ste 2400
Los Angeles, CA 90067
US
Direct:
(310) 788-2130(310) 788-2130
Meet Zager Fixed Income Management
Joseph McCullough, CFA
Managing Director, Private Wealth Management, Private Wealth Advisor
Phone:
(310) 788-2136(310) 788-2136
Lindsey Wetzel
Managing Director, Wealth Management, Investment Consultant
Phone:
(415) 693-1370(415) 693-1370
Matthew Terhune
Executive Director, Investment Consultant
Phone:
(310) 788-2129(310) 788-2129
Luis Medina
Vice President, Investment Consultant
Phone:
(310) 788-2134(310) 788-2134
Eric Espino
First Vice President, Investment Consultant
Phone:
(310) 788-2132(310) 788-2132
Gregg Manjerovic, CFA
Senior Vice President, Investment Consultant
Phone:
(310) 788-2139(310) 788-2139
Mary Masso
Senior Vice President, PWM Group Director
Phone:
(310) 788-2135(310) 788-2135
Sophia Dion
Senior Registered Associate
Phone:
(310) 788-2138(310) 788-2138
Anna Kiledjian
Assistant Vice President, Private Wealth Management Associate
Phone:
(310) 788-2133(310) 788-2133
Jesus Rivera
Assistant Vice President, Private Wealth Management Analyst
Phone:
(310) 788-2137(310) 788-2137
Lyndsae Hunter
Vice President, Private Wealth Management Associate
Phone:
(310) 788-2131(310) 788-2131
Nathalia Pulido
Client Service Associate
Phone:
(310) 788-2140(310) 788-2140
About Drew Zager
Senior Portfolio Management Director of Zager Fixed Income Management, Drew Zager leads a team of fifteen professionals who manage high-grade, fixed income portfolios for both private and institutional clients.
A Morgan Stanley veteran of over 39 years, Drew was initially hired to provide fixed income coverage to middle market institutional clients. He had previously served as Senior Tax Consultant at KPMG and a Certified Public Accountant in the state of California.
Drew was the chair and a founding director of the UCLA Investment Company, serves on The UCLA Investment Company & Foundation Board, chairs the UCLA Botanical Garden board and frequently lectures at the UCLA Anderson School of Management. He is also an advisor to the UC Regents Investment Committee and serves on the board of the Young Eisner Scholars, a nonprofit organization that identifies and empowers academically promising children in underserved neighborhoods across the country. Drew previously served on the board of the University of California Riverside. Drew created and chaired the Morgan Stanley Global Philanthropic Exchange in 2006 at the Guggenheim Museum in New York City. He graduated from California State University with a B.A. in finance and accounting.
A Morgan Stanley veteran of over 39 years, Drew was initially hired to provide fixed income coverage to middle market institutional clients. He had previously served as Senior Tax Consultant at KPMG and a Certified Public Accountant in the state of California.
Drew was the chair and a founding director of the UCLA Investment Company, serves on The UCLA Investment Company & Foundation Board, chairs the UCLA Botanical Garden board and frequently lectures at the UCLA Anderson School of Management. He is also an advisor to the UC Regents Investment Committee and serves on the board of the Young Eisner Scholars, a nonprofit organization that identifies and empowers academically promising children in underserved neighborhoods across the country. Drew previously served on the board of the University of California Riverside. Drew created and chaired the Morgan Stanley Global Philanthropic Exchange in 2006 at the Guggenheim Museum in New York City. He graduated from California State University with a B.A. in finance and accounting.
Securities Agent: SC, WI, WV, OH, NY, VI, WY, WA, VT, VA, RI, TN, SD, OR, UT, PR, PA, TX, NV, MD, MA, AK, NH, MO, NC, MT, NE, MI, NM, ND, ME, KS, KY, LA, OK, IL, FL, GA, IN, IA, DE, ID, DC, CT, HI, CO, CA, MN, NJ, MS, AZ, AR, AL; General Securities Representative; Investment Advisor Representative; Transactional Futures/Commodities; Managed Futures
NMLS#: 1288334
NMLS#: 1288334
About Joseph McCullough
Senior Portfolio Management Director on the Zager Fixed Income Management team, Joe McCullough works closely with clients and their advisors to construct customized fixed income separate accounts that align with their investment objectives and risk tolerances.
Joe is a Chartered Financial Analyst Charter holder and is an active mentor for current CFA® candidates. He is a founding co‐chair of the Emerging Leader Council at the Children’s Hospital Los Angeles and previously was a founding board member of the Young Professional’s Council at CHLA. Joe joined Morgan Stanley Private Wealth Management in 2006 after earning his B.A. in economics from Bucknell University.
Joe is a Chartered Financial Analyst Charter holder and is an active mentor for current CFA® candidates. He is a founding co‐chair of the Emerging Leader Council at the Children’s Hospital Los Angeles and previously was a founding board member of the Young Professional’s Council at CHLA. Joe joined Morgan Stanley Private Wealth Management in 2006 after earning his B.A. in economics from Bucknell University.
Securities Agent: CT, AK, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY, DC, AL, AR, AZ, CA, CO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1268193
NMLS#: 1268193
About Lindsey Wetzel
Lindsey Wetzel joined the Zager Fixed Income Management Team in September 2025. With 22 years of experience in fixed income at Morgan Stanley, Lindsey spearheads private client strategic partner relationships and work closely with clients and their advisors to develop tailored fixed income strategies designed to meet their investment goals. Since joining Morgan Stanley in 2003, Lindsey has excelled in various roles within municipal trading and fixed income sales, demonstrating her experience in managing both people and risk. She spent 15 years in municipal trading, culminating in her leadership of the firm's short-term institutional trading desk. In 2018, Lindsey advanced to co-head of Capital Market Municipal Sales, where she and her team provided advisors with timely market insights, sector and security recommendations, and guidance on portfolio construction and management. In 2022, she played a pivotal role in launching a team dedicated to offering comprehensive fixed income solutions on the advisory platform, with a focus on Separately Managed Accounts (SMAs).
Lindsey is also deeply committed to volunteerism, particularly in support of women. She has held leadership positions within Morgan Stanley's Women in Wealth Chapters, is a member of the Junior League of San Francisco and served as co-chair of the Municipal Bond Women's Forum from 2016 to 2023. Additionally, she volunteers weekly with Read Ahead and is the President Elect of the Service Corps, an organization that fosters social awareness and compassion among mothers and sons through local community support.
Lindsey graduated from Dartmouth College in 2002 and acts as an admissions ambassador for the school. She resides in San Francisco with her husband and two sons.
Lindsey is also deeply committed to volunteerism, particularly in support of women. She has held leadership positions within Morgan Stanley's Women in Wealth Chapters, is a member of the Junior League of San Francisco and served as co-chair of the Municipal Bond Women's Forum from 2016 to 2023. Additionally, she volunteers weekly with Read Ahead and is the President Elect of the Service Corps, an organization that fosters social awareness and compassion among mothers and sons through local community support.
Lindsey graduated from Dartmouth College in 2002 and acts as an admissions ambassador for the school. She resides in San Francisco with her husband and two sons.
About Matthew Terhune
Matt Terhune joined Morgan Stanley Private Wealth Management in 2023 as an Investment Consultant with the Zager Fixed Income Management team. His primary responsibilities include assisting corporate clients to construct cash portfolios designed to help meet their income, liquidity, and risk needs. He has extensive experience working with organizations across various sectors (public, private, government entities, healthcare, insurance, banks, sports teams) from initial funding rounds through IPO. From creating an investment policy statement to investing balance sheet assets, Matt has spent his entire career in financial services being a resource to companies on this journey. Prior to joining the Zager Fixed Income Management Team, Matt worked at Morgan Stanley Investment Management for 9 years on the Global Liquidity team. Before moving to Morgan Stanley, he helped manage the funding desk at Standard Chartered Bank. Matt received a B.S. in engineering from Penn State University. He lives in New Jersey with his wife and three young children.
About Luis Medina
Luis Medina assists with portfolio management and is the head of muni trading for the group’s fixed income team. Luis is also responsible for investment analysis, performance attribution, and technology implementation. Prior to joining Morgan Stanley in 2016, Luis worked as a payroll specialist for Wolters Kluwer, where he handled payroll operations for employees in the Corporate Legal Services division. Luis earned his B.A. in Economics and Political Science from the University of Michigan in 2011.
About Eric Espino
Bringing more than fifteen years of municipal finance experience to the team’s clients, Eric Espino’s responsibilities include credit research, sector allocation, assisting with portfolio management, investment strategy, and producing the ZFIM quarterly newsletter. Prior to joining Morgan Stanley in 2020, Eric was a Municipal Advisor at PFM Financial Advisors, where he assisted government agency and not‐for‐profit clients in structuring debt offerings and developing financing strategies for infrastructure and other publicity-funded projects. Earlier in his career, Eric served as a credit analyst at Fitch Ratings in New York during the 2008 global financial crises. Eric holds a masters in city planning from the Massachusetts Institute of Technology and a B.S. in public policy and management from the University of Southern California.
About Gregg Manjerovic
Drawing on more than 26 years of taxable fixed income investment management experience, Gregg Manjerovic assists with portfolio construction and management of highly customized fixed income portfolios for the team’s clients. Gregg also provides sector knowledge in rates, investment grade credit and preferred security sectors. Prior to joining Morgan Stanley in 2021, Gregg held senior fixed income portfolio management positions at Chilton Trust and Public Financial Management Asset Management (PFMAM) where he worked for 5 and 14 years, respectively. He managed account strategies, according to specific client requirements, on a discretionary total return, cash management, or liability matched basis. He also served as a member of PFMAM’s Investment Committee and Credit Committee and Chilton Trust’s Fixed Income Risk Committee. Earlier in his career, Gregg served as a Portfolio Manager/Trader for Northern Trust Global Investments, where he managed intermediate and long-term investments. He was responsible for fixed income portfolio strategy and trading for Northern Trust Wealth Management Investment portfolios. Gregg received his M.S. in financial markets and trading from the Stuart School of Business at the Illinois Institute of Technology in Chicago, Illinois and a B.S. in Finance from University of Illinois at Chicago. He holds the Chartered Financial Analyst® designation and is a member of the CFA Institute.
About Mary Masso
Mary Masso serves as the Group Director for Zager Fixed Income Management at Morgan Stanley. Drawing on 24 years of financial services experience, Mary manages the team's workflow and communications, oversees the team’s business strategy development and implementation, leads the team’s hiring process, and fulfills responsibilities that include assisting with portfolio management and trading. Mary began her career at Morgan Stanley as an Analyst in Morgan Stanley’s Corporate Treasury department in 2000. She spent a year at BNP Paribas in European Equity Sales, before returning to Morgan Stanley Private Wealth Management in 2003. She has worked in both the New York and Los Angeles offices of the Firm. Mary received her MBA from the Kenan-Flagler Business School at University of North Carolina Chapel Hill and a B.A. from the University of California-Davis, where she was a four-year member of the intercollegiate swim team. Mary lives in Palos Verdes Estates, CA with her husband and three sons.
About Sophia Dion
Working to deliver an outstanding overall service experience, Sophia Dion oversees key operational, trade and client service support activities. Sophia focuses on the management of investment policy statements, investment objectives, and client onboarding. She joined Morgan Stanley in 1994 and has spent the entirety of her 30-year financial services career with the firm. Prior to joining the team in Los Angeles, she worked in New York offices of the Private Wealth Management division in sales associate and administrative management roles. Sophia holds a B.S. in applied mathematics from the University of California at Los Angeles (UCLA).
About Anna Kiledjian
Anna Kiledjian brings seven years of financial services industry experience to the service of the team’s clients. Anna’s responsibilities include running the team’s events and marketing materials as well as providing administrative and operational support. Prior to joining Morgan Stanley in 2020, Anna worked as a Private Bank Client Service Associate for JP Morgan and, earlier, as an Operations Specialist for The Vanguard Group. She received her B.A. in psychology from the University of California at Los Angeles in 2016.
About Jesus Rivera
A member of Zager Fixed Income Management at Morgan Stanley Private Wealth Management since 2021, Jesus Rivera contributes to delivering an outstanding client service experience. Jesus’ primary responsibilities include reviewing prospective and existing client portfolios and providing operational support to the team. Prior to joining Morgan Stanley, he worked as a counselor for a nonprofit organization that ran a math camp for underserved children in Los Angeles. He felt motivated to give back to his community because of his experience as a Young Eisner Scholar throughout his academic career. Jesus received his B.A. in economics-philosophy from Columbia University in 2021.
About Lyndsae Hunter
Lyndsae Hunter brings seven years of financial services industry experience to help deliver an exceptional overall service experience for the team’s clients. Her key duties include operational support and client service support activities. She began her career as a stockbroker with E*TRADE Financial in 2016. Lyndsae started with Morgan Stanley in March of 2018 as a Client Service Associate and was quickly recognized by management and nominated to join the Client Service Associate’s Coaching Team. Prior to joining the team in Los Angeles, she worked in the Atlanta offices of the Private Wealth Management division where she assumed a role as a Private Wealth Associate focused on portfolio construction and client service. Lyndsae received her BBA from Georgia State University with a focus in finance.
About Nathalia Pulido
Nathalia Pulido joined the team as a Client Services Associate at the beginning of 2025 and supports the team through analysis support and client service initiatives. She began as an intern at Morgan Stanley in 2024, focusing on fixed income strategy and investment insights. Prior to Morgan Stanley, Nathalia conducted neuroscience research at both the Keck School of Medicine at USC and the Icahn School of Medicine at Mount Sinai, co-authoring a publication in Biological Psychiatry.
Outside of work, she volunteers with a nonprofit, providing Spanish translation to help aspiring entrepreneurs launch childcare businesses. She felt motivated to give back to her community because I her experience as a Young Eisner Scholar throughout her academic career. Nathalia holds a B.A. in Biochemistry from Lafayette College.
Outside of work, she volunteers with a nonprofit, providing Spanish translation to help aspiring entrepreneurs launch childcare businesses. She felt motivated to give back to her community because I her experience as a Young Eisner Scholar throughout her academic career. Nathalia holds a B.A. in Biochemistry from Lafayette College.
Contact Drew Zager
Contact Joseph McCullough
Private Wealth Management
Professional Insights
May 2026 ZFIM Newsletter
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
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.
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
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.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Awards Disclosures | Morgan Stanley
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.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website 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.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
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.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Awards Disclosures | Morgan Stanley
CRC 4677197 (7/2025)
