Disclosures:

This materials has been ready for informational functions solely. It doesn’t present individually tailor-made funding recommendation. It has been ready with out regard to the person monetary circumstances and targets of individuals who obtain it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that traders independently consider specific investments and techniques, and encourages traders to hunt the recommendation of a Morgan Stanley Monetary Advisor. The appropriateness of a specific funding or technique will depend upon an investor’s particular person circumstances and targets.

Essential details about your relationship along with your Monetary Advisor and Morgan Stanley Smith Barney LLC when utilizing a Monetary Planning software. When your Monetary Advisor prepares a Monetary Plan, they are going to be appearing in an funding advisory capability with respect to the supply of your Monetary Plan. To grasp the variations between brokerage and advisory relationships, you need to seek the advice of your Monetary Advisor, or assessment our Understanding Your Brokerage and Funding Advisory Relationships brochure accessible at

https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf

You could have sole accountability for making all funding selections with respect to the implementation of a Monetary Plan. You could implement the Monetary Plan at Morgan Stanley Smith Barney LLC or at one other agency. If you happen to have interaction or have engaged Morgan Stanley, it’s going to act as your dealer, except you ask it, in writing, to behave as your funding adviser on any specific account.

Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its associates and Morgan Stanley Monetary Advisors and Personal Wealth Advisors don’t present tax or authorized recommendation. Shoppers ought to seek the advice of their tax advisor for issues involving taxation and tax planning and their lawyer for issues involving belief and property planning and different authorized issues.

Life insurance coverage, incapacity earnings insurance coverage, and long-term care insurance coverage are provided by Morgan Stanley Smith Barney LLC’s licensed insurance coverage company associates.

Not all services and products mentioned can be found at Morgan Stanley.

Asset Allocation doesn’t guarantee a revenue or shield towards loss in declining monetary markets.

When Morgan Stanley Smith Barney LLC, its associates and Morgan Stanley Monetary Advisors and Personal Wealth Advisors (collectively, “Morgan Stanley”) present “funding recommendation” concerning a retirement or welfare profit plan account, a person retirement account or a Coverdell training financial savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as these phrases are outlined underneath the Worker Retirement Revenue Safety Act of 1974, as amended (“ERISA”), and/or the Inner Income Code of 1986 (the “Code”), as relevant. When Morgan Stanley supplies funding training, takes orders on an unsolicited foundation or in any other case doesn’t present “funding recommendation”, Morgan Stanley won’t be thought-about a “fiduciary” underneath ERISA and/or the Code. For extra info concerning Morgan Stanley’s function with respect to a Retirement Account, please go to www.morganstanley.com/disclosures/dol. Tax legal guidelines are advanced and topic to vary. Morgan Stanley doesn’t present tax or authorized recommendation. People are inspired to seek the advice of their tax and authorized advisors (a) earlier than establishing a Retirement Account, and (b) concerning any potential tax, ERISA and associated penalties of any investments or different transactions made with respect to a Retirement Account.

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CRC# 5711050   (06/2023)

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