morgan stanley wealth management · why choose morgan stanley wealth management? with over 80 years...
TRANSCRIPT
Morgan Stanley Wealth Management
HELPING YOU MANAGE YOUR WEALTH WHILE ACHIEVING YOUR FINANCIAL GOALS
3 MORGAN STANLEY
Our Mission and Core Values
We believe capital can work to benefit all of society. We make this belief a reality by
focusing on four key elements that comprise the core values of our firm:
PUTTING CLIENTS FIRST
• Always keep the client’s interest first
• Work with colleagues to strive to
deliver the best of the Firm to every client
• Listen to what the client is saying and
needs
DOING THE RIGHT THING
• Act with integrity
• Think like an owner to help create long-
term shareholder value
• Value and reward honesty, collegiality
and character
LEADING WITH EXCEPTIONAL IDEAS
• Break new ground
• Let the facts and different points of
view broaden your perspective
• Be vigilant about what we can do better
GIVING BACK
• Be generous with our expertise,
our time and our money
• Invest in the future of our communities
and our Firm
• Mentor our next generation
4 MORGAN STANLEY
Morgan Stanley: Who We Are
Drawing on expertise across all three of our divisions, you benefit from access
to our vast resources.
6 MORGAN STANLEY
• $1, 925Bn in client assets AUM1
• Total Deposits $147MM1
• Morgan Stanley reported revenues of $7.8Bn1
• More than 56,000 global employees.
• The Tier 1 risk-based Capital Ratio under U.S. Basel III was
approximately 15.6%
• $188Bn in liquidity reserve1
• Investment Banking No. 2 in Global Equity and No.1 in Global IPO’s1
MORGAN STANLEY WEALTH MANAGEMENT
Clients
• Individuals
• UHNW Individuals, Families and their
Foundations (Morgan Stanley Private
Wealth Management)
• Small- to medium-size businesses
and institutions
Products and Services
• Brokerage and investment advisory services
• Financial and wealth planning services
• Annuity and insurance products
• Cash Management and Lending products
and services
• Retirement plan services
• Trust services access
INSTITUTIONAL SECURITIES GROUP
Investment Banking
• Capital raising
• Corporate lending
• Financial advisory services, including advice
on mergers, and acquisitions, restructurings,
real estate and project finance
Sales, Trading, Financing and
Market-Making Activities
• Equity securities and related products
• Fixed income securities and related products,
including foreign exchange and commodities
• Research
• Prime brokerage
INVESTMENT MANAGEMENT
Global Asset Management
• Equity and Fixed Income
• Merchant Banking
• Alternative Investment Partners
• Liquidity Management
Three Principal Distribution Channels
• A proprietary channel consisting of Morgan
Stanley’s representatives
• A non-proprietary channel consisting of third-
party broker-dealers, banks, financial
planners and other intermediaries
• An institutional channel that provides
advisory services and global portfolio
solutions to corporations, central banks,
sovereign wealth funds, endowments and
foundations, public pensions, insurance
general accounts and financial institutions
Morgan Stanley Franchise
MORGAN STANLEY: WHO WE ARE
MORGAN STANLEY FRANCHISE POWER1
1. As of October 19, 2015, Third Quarter Earnings.
2. Represents Morgan Stanley & Co LLC. As of January 1st, 2015 on Thomson Reuters ‘Global Equity Capital Markets Review’ reflecting full year 2014.
7 MORGAN STANLEY
Morgan Stanley: A Leader in Financial Services
1. FinanceAsia, August 27, 2015. 2. Lipper Fund Awards, April 1, 2015.3. Financial Times “FT 400 Top Financial Advisors,” March 25, 2015.4. Money Management Institute April 23, 2015.5. Euromoney, July 9, 2015.6. Extel Survey, June 8, 2015. The awards/ratings listed above are based on quantitative and qualitative criteria. The awards/ratings may not be representative of any one client’s experience and is not indicative of the Financial Advisor’s future performance. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors pays a fee in exchange for the awards/ratings.
9 MORGAN STANLEY
Why Choose Morgan Stanley Wealth Management?
With over 80 years of experience, we work to meet your financial needs across
every stage of life.
10 MORGAN STANLEY
How Can We Help You?
We will:
• Work with you to create a wealth plan that adapts to your changing circumstances
• Provide access to individual wealth management capabilities that will help integrate
your day-to-day financial needs with your long-term financial ambitions
• Define an investment strategy to help you make informed choices
• Utilize our specialists in trusts, insurance, philanthropy and family dynamics to
develop customized estate and wealth transfer plans
• Identify and address your unique financial needs from short to long-term goals
At Morgan Stanley, we work tirelessly with individuals, families, businesses and
institutions in order to deliver services and solutions that help build, preserve and
manage wealth
12 MORGAN STANLEY
We were named “Best Foreign
Investment Bank and Best M&A House1”
by FinanceAsia.
Morgan Stanley Investment
Management was awarded
“Best Global Income Fund2” for
performance over 3 and 5 years.
Morgan Stanley is the
“Leading Global Underwriter for technology
IPS year to date3.”
Euromoney Magazine named us as
“Best Global Investment Bank, Best Global
Equity House, and Best Investment
Bank in Asia5.”
Our Consulting Group
Wealth Advisory Solutions named “Advisory
Solutions Sponsor Distribution Team of the Year4”
We were awarded “Best Overall Broker for
excellence in equity and equity-linked research6.”
1. FinanceAsia, August 27, 2015. 2. Lipper Fund Awards, April 1, 2015.3. Financial Times “FT 400 Top Financial Advisors,” March 25, 2015.4. Money Management Institute April 23, 2015.5. Euromoney, July 9, 2015.6. Extel Survey, June 8, 2015.
Morgan Stanley – A Leader On Wall Street
MORGAN STANLEY: WHO WE ARE
14 MORGAN STANLEY
We Offer Comprehensive Solutions
1. Although they may be admitted attorneys, planning directors and other wealth planning center personnel holding legal degrees are acting purely in a non-representative capacity. Neither they nor Morgan Stanley provide tax or legal advice to clients or to Morgan Stanley.
INVESTMENT ADVICE
• Thought Leadership
• Asset Allocation
• Portfolio Construction
• Investment Manager Selection
CASH MANAGEMENT & LENDING
• Direct Deposit/Bill Pay
• Unlimited Check Writing
• Premier Cash Management
• Morgan Stanley Cards from American Express
• Residential Mortgage Loans
• Securities Based Loans
• Tailored Lending
INVESTMENT SOLUTIONS
• Advisory
• Brokerage
• Traditional Products
• Alternatives
• Investing with Impact
TRUST, ESTATE &LEGACY PLANNING1
• Wealth TransferStrategies
• Wills, Trust, Estate and Legacy Planning
• Trust and Estate Professionals
DIGITAL OFFERINGS
• Morgan Stanley Online
• Morgan Stanley Mobile App
• eDelivery
WEALTH PLANNING
• Comprehensive Wealth Planning Coordination
• Goals-Based Financial Plans
• Retirement Strategies
INSURANCE SERVICES
• Permanent Life
• Term Life
• Long-Term Care
• Disability
PHILANTHROPY SERVICES1
• Charitable Lead Trusts
• Charitable Remainder Trusts
• Family Foundations
• Donor-Advised Funds
We make it easy for successful individuals like you to manage every aspect of
your financial life, no matter how complex your specific situation may be.
15 MORGAN STANLEY
Wealth Planning: Going Far Beyond Investments
› While we are known for our
investment expertise, our
resources extend to virtually
every aspect of your financial
life. We provide access to a
wide variety of specialists who
can help pursue your specific
goals.
GOALS-BASED PLANNING
INSURANCE
PHILANTHROPY
ESTATE &WEALTH
TRANSFERPLANNING
YOU
INVESTMENT
STRATEGIES
CASH
MANAGEMENT
& LENDING
16 MORGAN STANLEY
Wealth Planning: Our Thoughtful Goals-Based Process
Source: Morgan Stanley Wealth Management GIC
THE METHOD IN ACTION
17 MORGAN STANLEY
Early to Mid CareerAge Range: 18-50
In RetirementLIFE STAGE
Late CareerAge Range: 50+
OBJECTIVE
Maximizing assets with a specific target date in mind
Securing a level of guaranteed income at retirement
Generating income for current expenses, while growing assets for the future
CONCERNS
Wealth Planning: Retirement Strategies for Specific Life Stages
� How do I save effectively without sacrificing other goals?
� How do I generate
sufficient income?
� What should I do
about Social
Security?
� Where am I now vs.
where I want to be?
� How do I make sure I
don’t run out of money?
� What do I do about
unforeseen expenses like
healthcare?
� What about Medicare
and supplemental
insurance options?
� How can I leave a
significant legacy to my
loved ones?
YOUR ASSET
ALLOCATION
AND OVERALL
STRATEGY
BUILDING RETIREMENT
SECURING RETIREMENT
LIVING RETIREMENT
18 MORGAN STANLEY
All information as of June 2016 and subject to change.
. . . LEADING THINKERS
The intellectual capital of
Morgan Stanley’s most
experienced investment
professionals is put
to work in your portfolio.
. . . THE STRENGTH OF A LARGE,
GLOBAL FINANCIAL INSTITUTION
As an advisor to institutions
and individuals worldwide,
Morgan Stanley has a
pulse on capital markets
and a vast network of
industry contacts.
. . . MANAGER ANALYSIS
Extensive analyses are conducted
on hundreds of investment managers
to verify they meet the high hurdles
required for inclusion on our platform.
. . . PORTFOLIOS TAILORED
TO YOUR SPECIFIC NEEDS
Research and recommendations
across a wide range of asset
classes, themes, models
and investment managers
is customized for
your portfolio.
. . . AWARD-WINNING ADVICE
Morgan Stanley & Co.’s
acclaimed analysts and
strategists cover more than
3,000 companies. Proprietary
models help you implement ideas.
.
YOUBENEFIT FROM…
Investment Advice: Providing Industry Leading Guidance
19 MORGAN STANLEY
Investment Solutions: Providing Traditional Investments
› Did you know? Traditional investment products can be used within many different types of accounts, including but not limited to: 529 College Savings Plans, Individual Retirement Accounts, Separately Managed Accounts and Advisory accounts.
Morgan Stanley is an industry leader in traditional investment products,
combining market and investor insight with a global presence and analytical rigor.
You’ll benefit from a comprehensive suite of products that encompasses both
proprietary and third-party managers.
Traditional investment products include:
MUTUAL FUNDS
EXCHANGE-TRADED FUNDS
CLOSED-END FUNDS
UNIT INVESTMENT TRUSTS
20 MORGAN STANLEY
• An array of proprietary and third-party Alternative Investments, including: Single Manager Hedge Funds, Funds of Hedge Funds, Managed Futures, Real Estate, Private Equity and Exchange Funds
• Exclusive access to funds that may otherwise only be available to institutional investors
• Lower investment minimums across asset classes that are tailored to a variety of client segments
• The Global Investment Manager Analysis (GIMA) team adheres to a rigorous due diligence process to provide product agnostic advice
• Leading fund managers: Our Hedge Fund platform has a strong record of choosing high quality funds
240+Alternative funds
available1
DIVERSIFICATION
The GIMAteam provides
due diligence and has over
42 yearsexperience delivering
investmentmanager analysis2
in client assetsunder management
or supervision1
$57BILLION
Approximately
DEPTH …AND BREADTH
Investment Solutions: Our Unique Alternatives Platform
21 MORGAN STANLEY
Investment Solutions: Investing With Impact
71% of investors have expressed interest in sustainable investing1; Our Investing With Impact Framework clarifies the full spectrum of approaches investors of all sizes can pursue across publicand private markets in their investment portfolios.
Investing with Impact Portfolio Solutions
Investing with Impact Products
Investing with Impact Tools & Resources
VALUES ALIGNMENT
ENVIRONMENTAL, SOCIAL & GOVERNANCE INTEGRATION (ESG)
THEMATIC EXPOSURE
IMPACT INVESTING
MINIMIZE OBJECTIONABLE IMPACT TARGETED POSITIVE IMPACT
22 MORGAN STANLEY
Investment Solutions: A Flexible Payment Approach
CHOOSE WHAT’S BEST FOR YOUA personalized approach to wealth management
We execute transactions based
on your buy, sell and hold decisions.
We act in your best interest as a
fiduciary to select investments and
programs that best meet your goals.
ADVISORY
RELATIONSHIP (fee-based)
BROKERAGE
RELATIONSHIP (commission-based)
23 MORGAN STANLEY
Cash Management & Lending: Accessing Needed Liquidity
� Active Assets Account
� Morgan Stanley Cards (debit, credit, charge)
� Direct deposit
� Electronic movement of funds
� GlobalCurrency & GlobalCurrency Express
� Unlimited check writing
� Morgan Stanley Online
� Morgan Stanley Mobile App (iPhone, iPad, Android)
� Fixed rate mortgages
� Fully amortizing and interest-only adjustable rate mortgages
� HELOC
� Conforming
� Non-conforming
� Non-purpose lending
− Revolving lines of credit
− Fixed rate options for advances on existing loans
− Letters of credit
� Margin loans
� Flexible loan structures
� Collateral: Eligible Marketable Securities, Commercial Real Estate, Certain Hedge Fund Interests, Fine Art and Real Estate Investment Trust Operating Units
� Home loans
� Mortgage refinance
� Home improvements
� Cash out refinance
� Primary residences and vacation homes
� Multiple adjoining land parcels or properties
� Hobby properties
� Investment properties
� Purchase commercial real estate
� Business financing
� Acquisition capital
� Short term financing needs
CashManagement
SecuritiesBased Loans
Residential Mortgage
Loans
Tailored Loans
PRODUCTS
AND
SERVICES
MAJOR
USES
• Everyday finances and cash flow • Non-purpose lending
− Real estate acquisition or
construction
− Luxury items
− Business working
capital/financing
− Tax obligations
• Margin
− Purchase eligible marginable
securities
− Non-purpose uses
24 MORGAN STANLEY
Cash Management & Lending: Backed by a Team of Specialists
We leverage private bankers and various
specialists to customize a solution for all your
cash management and lending needs.
Your
Financial
Advisor
Private
Banker
Securities Based
Lending Advisors
Cash Management
Specialist
Mortgage Advisors
UHNW & Tailored Lending
Specialists
25 MORGAN STANLEY
Digital Offerings: Providing Freedom, Access and Information
Delivering the timely information
you need to make sound decisions is
a cornerstone of the value we offer.
The integrated suite of tools and
apps that comprise our digital
platform puts actionable information
at your fingertips
when and where you need it.
Access the information you need to manage
your accounts, stay on top of your investments
and manage your everyday finances
Pay bills, transfer funds and deposit U.S.-based
checks with some of the highest deposit limits in
the industry1
Secure, Convenient & Green. Stay up to date by
enrolling in eDelivery for Statements, Trade
Confirmations, General Correspondence,
Shareholder Communications and more
MSOnline
Mobile
eDelivery
26 MORGAN STANLEY
Trust, Estate & Legacy Planning: Transferring Values and Wealth
We provide access to the broad range of services needed to create an enduring legacy that passes along your values as well as your assets.
Family Mission
Statements
Succession
Planning
Next Generation
Education
CLIENTDocument Reviews
Life
InsuranceEstate
Planning
27 MORGAN STANLEY
A rigorous set of standards is applied to providers and products
INSURANCE PROVIDERS
� Financial strength
� Credit ratings
� Ownership and organizational structure
� Investment policies
INSURANCE PRODUCTS
� Disclosure of all product features
� Comparison with comparable product
offered by other providers
� Product design
� Cost and suitability
Insurance Services: Crafting a Custom Strategy to Manage Risk
› We screen providers and products to offer you a broad range of quality insurance and annuity options.
Initial Review & Approval
Ongoing Monitoring
Approved: Life, Disability, Long-Term
Care & Annuities Options
Morgan Stanley Annuity & Insurance Product Due Diligence Committee
28 MORGAN STANLEY
Philanthropy Management: Fulfilling Your Charitable Aspirations
› Our professionals can help you identify, organize and implement a philanthropic strategy to effect the change you want to see in the world.
YOUR
PHILANTHROPIC
GOALS
ROBUST EXPERIENCE
We work with ultra-high net
worth families, their foundations
and the institutions
they support.
RESEARCH ORIENTED
We help you identify and
connect with high-impact
charities that complement your
philanthropic goals.
SPECTRUM OF RESOURCES
We provide advisory services
and implementation strategies
to help you define and execute
your philanthropic mission.
GIVING PLATFORMS
We offer a variety of giving
solutions including a donor-
advised fund and a foundation
management services.
29 MORGAN STANLEY
Getting Started: Understanding What’s Most Important to You
› You, your family
and the important
people in your life
› Goals, such as saving
for a home, education
for your children
and retirement
› Your comfort level
with different types
of risks
› Your vision of
financial
security and success
30 MORGAN STANLEY
Layers of Market Intelligence to Bring You the Best Ideas
OUR CAPABILITIES
Global
Investment
Committee
7 LEADING THINKERS
• An investment committee dedicated to wealth management
• Establish general allocation guidelines based on our forecasting
• Asset class recommendations help Financial Advisors guide you
300+ RESEARCH ANALYSTS
• Analysts in 21 countries
• Cover more than 3,000 securities
• Support the flow of ideas
Morgan Stanley & Co. analysts
Intellectual capital from third party investment managers
1,300+ MANAGERS
• Wide selection of third-partyinvestment managers
Strategy, Research &
Manager Analysis
60+ STRATEGISTS, RESEARCH AND MANAGER ANALYSTS
• Develop opportunistic trade ideas
• Facilitate implementation ideas via model portfolios
• Assess investment manager fitness
All information as of May 2015 and subject to change.
31 MORGAN STANLEY
Broad Selection of Premier Investment Managers
OUR CAPABILITIES
RIGOROUS ANALYSISLess than 10% of the universe of 14,000+ investment
managers meet our standards for platform inclusion
STRONG GOVERNANCEOversight from an experienced
eight-member committee
ONGOING MONITORINGOf both investment products and managers1
EXTENSIVE LIBRARY OF ANALYSESMade available to Financial Advisors and clients
PATENTED METHODOLOGYAdverse Active AlphaSM improves prospectsof identifying managers that can boost
portfolio returns
75+ANALYSTS DEDICATED TO MANAGER ANALYSIS
450+ONSITE VISITS / YEAR
150+ETF STRATEGIES
500+SEPARATELY MANAGED ACCOUNTS
450+MUTUAL FUNDS
150+ALTERNATIVE STRATEGIES
2
1,000 – 1,300SELECTED INVESTMENT MANAGERS
All information as of May 2015 and subject to change.
1. The functions of manager analysis and review are available only through advisory accounts.2. Includes private equity.
32 MORGAN STANLEY
Investment Management
OUR CAPABILITIES
Asset Classes
EQUITIES
• US equities
• International equities
• Emerging and frontier markets
FIXED INCOME
• Short-term fixed income
• US fixed income taxable
• International fixed income
• Inflation linked securities
• High yield fixed income
• Emerging market fixed income
• Global fixed income
• Municipal bonds
ALTERNATIVES
• Real assets
• Absolute return assets
• Equity hedge assets
• Equity return assets
• Opportunistic assets
Choices of Implementation
INDIVIDUAL SECURITIES
• Stocks – including IPOs, new
issues and secondary offerings
• Bonds – including new issues
and secondary offerings
• Preferred stock
• Options
• Currencies
ALTERNATIVE PRODUCTS
• Single manager funds
• Funds-of-funds
• Managed futures
• Separate accounts
• Private placements
• Precious metals
DIVERSIFIED PRODUCTS
• Mutual funds
• Closed-end funds
• Unit investment trusts
• Exchange-traded funds
STRUCTURED SECURITIES
• Market linked securities
• Leveraged securities
• Enhanced yield securities
• Securities offering limited
protection of principal
SPECIAL PURPOSE
ACCOUNTS
• Individual retirement accounts
(Traditional and Roth)
• 529 college savings plans
Risk Management
HEDGING STRATEGIES
CONCENTRATED /
RESTRICTED STOCK ADVICE
INTEREST RATE RISK
MANAGEMENT
CURRENCY EXPOSURE
STRATEGIES
PORTFOLIO PROTECTION
SOLUTIONS
INSURANCE SOLUTIONS
33 MORGAN STANLEY
Insurance
OUR CAPABILITIES
Life Insurance
TYPES
• Whole life
• Universal life
• Guaranteed level term
Disability Income Insurance
REPLACING LOST INCOME
• For self-employed and small
business owners with no group
disability coverage
• May be suitable for those without
adequate resources to weather
prolonged loss of income
Long-Term Care Insurance
UNDERSTAND THE NEED / RISK
• Consequences of an unexpected
health event
• Consequences of living long
• Risk of passing away financially
unprepared
DEVELOP A STRATEGY TO OFFSET
THE RISK
• Long-term care is a family issue
IMPLEMENT THE STRATEGY
• Long-term care insurance
• Self-insuring
• Caregiving plan
• Combination life and long-term
care insurance
Let’s discuss
your many
options.
34 MORGAN STANLEY
Philanthropy Services
OUR CAPABILITIES
Our professionals can help
you identify, organize and
implement a philanthropic
strategy to effect the
change you want to see in
the world
• Has vast experience working with ultra-
high net worth families, their
foundations and the institutions
they support
• Helps you research the best charities in
order to identify those that complement
your philanthropic goals
• Offers a comprehensive range of
advisory and implementation services to
help you define, design and implement
your philanthropic strategy
• Offers services to both donors and non-
profit institutions
36 MORGAN STANLEY
The Polyak/Schnell Group
We are a cohesive team of highly experienced
financial professionals from a broad range of
disciplines. We combine our talents to help
our clients address the complex,
multigenerational challenges of managing
significant wealth. The interests of our clients
always go first as we seek to build long-term
relationships based on personal integrity,
professional competence and mutual trust.
37 MORGAN STANLEY
Our Philosophy
Our approach is to integrate our client's financial, familial, and philanthropic objectives into a holistic wealthmanagement approach. We have developed strategies through our comprehensive wealth managementservices to provide resources for affluent individuals, families, businesses, and non-profit organizations. Ourstrategies include:
Planning:
Directing assets, optimizing philanthropicaspirations, leaving a legacy, disposition ofunique assets, family business succession,reducing tax impact.
Asset Management:
Professional equity and fixed income money management, growth of capital, tax sensitive asset management, alternative investments.
Risk Management:
Preserving capital, diversify exposure to concentrated positions, protecting assets.
Lending:
Providing liquidity, Financing business needs, asset acquisition.
38 MORGAN STANLEY
Our Process To Uncover Your Financial Needs
1. 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
2. Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
39 MORGAN STANLEY
The strength, stability and resources of global financial services leader with more than 150 years of heritage, high capital strength andfocus on Wealth Management
Integrated team approach: operates as an exclusive Wealth Management boutique within the firm, providing tailored portfoliomanagement to both individual and institutional clients, endowments, foundations, and charitable organizations.
Senior Portfolio Managers with 20+ years of experience in the industry, long track record as a cohesive team providing customizedportfolios through a disciplined risk-based approach and protective strategies.
Cost efficient implementation: competitive pricing and optimization of investment vehicles (ETFs, direct bonds, primary issues, third partywealth structuring, credit lines, discretionary solutions, SMAs, etc.)
Solutions:
� Open architecture across asset classes, including mutual funds and alternative investments
� Access to primary market: fixed income, follow-ons, equity IPOs
� Access to private deals: private equity investments, debt financing, block trades
� Institutional-type portfolio construction and analytics
� Credit lines: portfolio leverage, corporate financing, airplane financing, etc.
� Direct access to portfolio managers and product specialists, research and investment ideas of Morgan Stanley
� Portfolio monitoring and analytics
� Access to experts in family dynamics; philanthropy management; tax, trust & estate advisory and other family office services
The Polyak/Schnell Group(psg) Advantage
40 MORGAN STANLEY
PSG STRATEGY
We believe adding a risk based strategy to a diversified portfolio provides a better opportunity for prosperity then
asset allocation alone. The Polyak/ Schnell Group strategy uses a risk based strategy to help mitigate the effects of
major declines in the market.
PSG
Strategy
Is designed to lock in gains for
favorable returns on underlying
assets.
Help harvest gains during severe
market corrections.
Seeks to avoid value destroying
behavior like buying high and
selling low
Aims to provide institutional
quality management
access
41 MORGAN STANLEY
As a founding member of the Polyak/Schnell Wealth Management Group, James is the Senior Portfolio Manager of the groups proprietary portfolio management services. With over 20+ years managing portfolios, James is the creator of the groups proprietary Strategy Portfolios, which takes risk-based approach to portfolio management.
Jim’s goal as a portfolio manager is to achieve meaningful investment results over the long term, for each individual client, through the disciplined application of their risk based portfolios. He believes adding a risk based strategy to a diversified portfolio may provide a better opportunity for prosperity then asset allocation alone.
Jim is a graduate of Fordham University Gabelli School of Business. When Jim is not managing money, his personal interests include traveling, cooking, fishing, exercise, and working with various charities together with his wife Deborah.
James Polyak
Senior Portfolio ManagerVice President
Chartered Retirement Plans Specialist CRPS ®
Financial Planning Specialist
Financial [email protected]
42 MORGAN STANLEY
Robert joined Morgan Stanley in 1988 and has over 28 years of investment management experience. He graduated from Rutgers College of Rutgers University in 1984 with a BA in Economics. While at Rutgers, Robert was President, Treasurer, Secretary and Fraternity Council Representative for Alpha Delta Epsilon of Alpha Mu as well as participating with the Rutgers Rugby Club and Track & Field Team in Shot Put and Discus.
Robert's business focuses on professional money management, high net worth fixed income, qualified plan development and implementation, retirement and estate planning strategies. He is on the Acceptability Board and is and Arbitrator and Hearing Officer for the New York Stock Exchange.
Robert’s Honors and Recognitions include:
• 25 Year Loyalty Service Award Morgan Stanley 2016, 2015, 2014 Five Star Wealth Manager-Investments (New York Magazine)
Robert‘s associations include:
• Military Working Dog Team Support Association-Volunteer National Association of Underwater Instructors- Master Diver, Wreck and Underwater Photographer certified CERT (NYC OEM Community Emergency Response Team) Community Board 6, Queens-Member FBI New York Office Citizens’ Academy Alumni Association-Past President FBI InfraGard-Member Adirondack Mountain Club-member Men’s Club of Forest Hills(1913)-Past President, Past Chairman of the Board, Board Member Alpha Delta Epsilon Alumni Association-Rutgers University-Member Archbishop Molloy High School Alumni Association-Member
• Robert's personal interest include: international travel, scuba diving (Master level NAUI), salt water aquariums, hi fidelity, photography, mountain climbing and hiking, kayaking, biking and the New York Mets.
• Robert his wife Maani, their daughter Ishanika Gabriele and their Havanese dogs Rani "Queen" and Raja "King", currently reside in historic Forest Hills Gardens (one of America's most notable planned communities, created by the Russell Sage Foundation and designed by planner and architect Frederick Law Olmsted Jr. in 1909 to be a "modern Garden of Eden"), New York.
Robert SchnellVice President
Financial Planning Specialist
Chartered Retirement Plans Specialist
CRPS ®
Senior Portfolio Manager
Senior Investment Management
Consultant
Financial Advisor
212-893-6518
43 MORGAN STANLEY
Jackie serves as the Relationship Manager for the team with over 10 years of experience in the financial services industry. Her responsibilities include but are not limited to, client relationship management and new business development. She will work closely with clients to ensure proper account opening procedures and documentation. In this role she will act as a liaison toprovide account information to clients and Financial Advisors. She will also maintain key client relationships by proactively resolving clients’ issues and concerns.
Jackie has been with Morgan Stanley since 2009. Prior to working at Morgan Stanley, Jackie worked at Bear Stearns in the same capacity.
Outside of wealth management, Jackie is passionate about her daily yoga practice, reading, dancing and fundraising for the March of Dimes. She also enjoys spending time with her husband Michael and son Aidan.
Jackie Torres
Senior Client Service Associate [email protected]
44 MORGAN STANLEY
DisclosuresA LifeView Financial Goal Analysis or LifeView Financial Plan (“Financial Plan”) is based on the methodology, estimates, and assumptions, as described in your
report, as well as personal data provided by you. It should be considered a working document that can assist you with
your objectives. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) makes no guarantees as to future results or that an individual’s investment objectives will be
achieved. The responsibility for implementing, monitoring and adjusting your financial goal analysis or financial plan rests with you. After your Financial Advisor
delivers your report to you, if you so desire, your Financial Advisor can help you implement any part that you choose; however, you are not obligated
to work with your Financial Advisor or Morgan Stanley.
Important information about your relationship with your Financial Advisor and Morgan StanleySmith Barney LLC when using LifeView Goal Analysis or LifeView Advisor.
When your Financial Advisor prepares and delivers a Financial Goal Analysis (i.e., when using LifeView Goal Analysis), they will be acting in a brokerage capacity.
When your Financial Advisor prepares a Financial Plan (i.e., when using LifeView Advisor), they will be acting in an investment advisory capacity with respect to the
delivery of your Financial Plan. This Investment Advisory relationship will begin with the delivery of the Financial Plan and ends thirty days later, during which time
your Financial Advisor can review
the Financial Plan with you. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our
Understanding Your Brokerage and Investment Advisory Relationships brochure available at http://www.morganstanley.com/ourcommitment/.
Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative
investments are suitable only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be
highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative Investments typically have
higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal
advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and
other legal matters.
Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Since long-term care insurance is medically underwritten, you should not cancel your current policy until your new policy is in force. A change to your current policy
may incur charges, fees and costs. A new policy may require a medical exam. Actual premiums may vary from any initial quotation.
The Morgan Stanley Global Impact Funding Trust, Inc. (“MS GIFT, Inc.”) is an organization described in Section 501(c) (3) of the Internal Revenue Code of 1986, as
amended. MS Global Impact Funding Trust (“MS GIFT”) is a donor-advised fund. Morgan Stanley Smith Barney LLC provides investment management and
administrative services to MS GIFT.
45 MORGAN STANLEY
Disclosures (cont’d)Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment. Companies paying dividends
can reduce or stop payouts at any time.
Asset Allocation and diversification does not assure a profit or protect against loss in declining financial markets.
Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally, the longer a bond's maturity, the more sensitive it is to this risk. Bonds may
also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of
debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to
changes in market conditions or changes in the credit quality of the issuer.
The awards/ratings listed above are based on quantitative and qualitative criteria. The awards/ratings may not be representative of any one client’s experience and is
not indicative of the Financial Advisor’s future performance. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors pays a
fee in exchange for the awards/ratings.
Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
© 2015 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC # 1873864 September 14, 2017
46 MORGAN STANLEY
Disclosures (cont’d)A LifeView Financial Goal Analysis or LifeView Financial Plan (“Financial Plan”) is based on the methodology, estimates, and assumptions, as described in your report,
as well as personal data provided by you. It should be considered a working document that can assist you with your objectives. Morgan Stanley Smith Barney LLC
(“Morgan Stanley”) makes no guarantees as to future results or that an individual’s investment objectives will be achieved. The responsibility for implementing,
monitoring and adjusting your financial goal analysis or financial plan rests with you. After your Financial Advisor delivers your report to you, if you so desire, your
Financial Advisor can help you implement any part that you choose; however, you are not obligated to work with your Financial Advisor or Morgan Stanley.
Important information about your relationship with your Financial Advisor and Morgan StanleySmith Barney LLC when using LifeView Goal Analysis or LifeView
Advisor. When your Financial Advisor prepares and delivers a Financial Goal Analysis (i.e., when using LifeView Goal Analysis), they will be acting in a brokerage
capacity. When your Financial Advisor prepares a Financial Plan (i.e., when using LifeView Advisor), they will be acting in an investment advisory capacity with respect
to the delivery of your Financial Plan. This Investment Advisory relationship will begin with the delivery of the Financial Plan and ends thirty days later, during which
time your Financial Advisor can review the Financial Plan with you. To understand the differences between brokerage and advisory relationships, you should consult
your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at
http://www.morganstanley.com/ourcommitment/.
Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative
investments are suitable only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be
highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative Investments typically have
higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal
advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and
other legal matters.
Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
Since long-term care insurance is medically underwritten, you should not cancel your current policy until your new policy is in force. A change to your current policy
may incur charges, fees and costs. A new policy may require a medical exam. Actual premiums may vary from any initial quotation.
The Morgan Stanley Global Impact Funding Trust, Inc. (“MS GIFT, Inc.”) is an organization described in Section 501(c) (3) of the Internal Revenue Code of 1986, as
amended. MS Global Impact Funding Trust (“MS GIFT”) is a donor-advised fund. Morgan Stanley Smith Barney LLC provides investment management and
administrative services to MS GIFT.
Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment. Companies paying dividends
can reduce or stop payouts at any time.
47 MORGAN STANLEY
Disclosures (cont’d)Asset Allocation and diversification does not assure a profit or protect against loss in declining financial markets.
Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally, the longer a bond's maturity, the more sensitive it is to this risk. Bonds may
also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of
debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to
changes in market conditions or changes in the credit quality of the issuer.
The awards/ratings listed above are based on quantitative and qualitative criteria. The awards/ratings may not be representative of any one client’s experience and is
not indicative of the Financial Advisor’s future performance. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors pays a
fee in exchange for the awards/ratings.
Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
© 2015 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC # 1873864 September 14, 2017
48 MORGAN STANLEY
Disclosures (cont’d)The Active Assets Account is a brokerage account offered through Morgan Stanley Smith Barney LLC.
The Morgan Stanley Debit Card is currently issued by UMB Bank, n.a., pursuant to a license from MasterCard International Incorporated. MasterCard and Maestro are
registered trademarks of MasterCard International Incorporated. The third-party trademarks and service marks contained herein are the property of their respective
owners.
The Morgan Stanley Credit Card from American Express is only available for clients who have an eligible Morgan Stanley Smith Barney LLC brokerage account
(“eligible account”). Eligible account means a Morgan Stanley Smith Barney LLC brokerage account held in your name or in the name of a revocable trust where the
client is the grantor and trustee, except for the following accounts: Charitable Remainder Annuity Trusts, Charitable Remainder Unitrusts, irrevocable trusts and
employer-sponsored accounts. Eligibility is subject to change. American Express
may cancel your Card Account and participation in this program, if you do not maintain an eligible account. Morgan Stanley Smith Barney LLC may compensate your
Financial Advisor and other employees in connection with your acquisition or use of the Morgan Stanley Credit Card from American Express.
The Morgan Stanley Credit Card from American Express is issued by American Express Bank, FSB, not Morgan Stanley Smith Barney LLC. Services and rewards for
the Cards are provided by Morgan Stanley Smith Barney LLC, American Express, or other third parties. Restrictions and other limitations apply. See the terms and
conditions for the Cards for details. Clients are urged to review fully before applying.
The Morgan Stanley Mobile App is currently available for iPhone® and iPad® from the App StoreSM and AndroidTM on Google PlayTM. Subject to certain terms and
conditions. Standard messaging and data rates from your provider may apply.
Margin Loans are investment products offered through Morgan Stanley Smith Barney LLC. Margin Loans are securities based loans, which can be risky, and are not
suitable for all investors. 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.
Borrowing against securities may not be suitable for everyone. You should be aware that there are risks associated with a securities based loan, including possible
margin calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Tailored Lending is a loan/line of credit product offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. A
Tailored Lending credit facility may be a committed or demand loan/line of credit. All Tailored Lending loans/lines of credit are subject to the underwriting standards
and independent approval of Morgan Stanley Private Bank, National Association. Tailored Lending loans/lines of credit may not be available in all locations. Rates,
terms, and programs are subject to change without notice. Other restrictions may apply. The information contained herein should not be construed as a commitment
to lend. Morgan Stanley Private Bank, National Association is a Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency.
49 MORGAN STANLEY
Disclosures (cont’d)Important Risk Information for Securities Based Lending: You need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to
take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior
notice in order to maintain account equity at required maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may
interrupt your 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”) reserves 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 your 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.
Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith
Barney LLC. With the exception of the pledged-asset feature, an investment relationship with Morgan Stanley Smith Barney LLC does not have to be established or
maintained to obtain the residential mortgage products offered by Morgan Stanley Private Bank, National Association. All residential mortgage loans/home equity
lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. Rates, terms, and programs
are subject to change without notice. Residential mortgage loans/home equity lines of credit may not be available in all states; not available in Guam, Puerto Rico and
the U.S. Virgin Islands. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. Morgan Stanley Private
Bank, National Association is an Equal Housing Lender and Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. Nationwide
Mortgage Licensing System Unique Identifier #663185. The proceeds from a residential mortgage loan (including draws and advances from a home equity line of
credit) are not permitted to be used to purchase, trade, or carry eligible margin stock; repay margin debt that was used to purchase, trade, or carry margin stock; or to
make payments on any amounts owed under the note, loan agreement, or loan security agreement; and cannot be deposited into a Morgan Stanley Smith Barney
LLC or other brokerage account.
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