The Corbett Mason Group at Morgan Stanley

Transcription

1 The Corbett Mason Group at Morgan Stanley

2 28 State Street 26th Floor, Boston, Massachusetts / Main

3 The Corbett Mason Group at Morgan Stanley There comes a point when managing your assets can easily turn into a full-time job or even become an overwhelming challenge. As your life evolves, not only does your financial strategy become more complex, but your options for implementing it increase as well. Frequently, evaluating these options and choosing wisely among them may require the time and expertise of several financial professionals. In such situations, it can make sense to work with a Morgan Stanley Financial Advisor who not only can understand your diverse financial needs, but has access to customized programs that can be utilized to provide you with world-class strategies. As designated Family Wealth Directors, our mission is to provide you with advisory services that include, and extend beyond, investment management. We take pride in being able to offer our clients access to Morgan Stanley s skilled staff who specialize in disciplines such as wealth transfer, asset protection and philanthropic management. Our goal is to understand your vision, preferences and unique circumstances so that we can work with you to help develop an overall wealth management strategy that meets your needs. This brochure is designed to provide you with a brief overview of the types of services that we, and our external partners, offer. It touches on a number of topics, such as family governance and dynamics, trust services and various investment opportunities from which you can choose to help realize your overall goals. We look forward to working with you to develop a personalized strategy that will help provide you with the secure financial future you need and deserve. L.O. Patrick Corbett Robert Mason Corbett Mason Group Family Wealth Directors The Corbett mason Group 3

4 Meet the Professionals L.O. Patrick Corbett, CPWA Senior Vice President-Wealth Management Family Wealth Director Executive Financial Services Director Robert F. Mason Senior Vice President-Wealth Management Portfolio Manager-Family Wealth Director Daniel Warren Financial Advisor Financial Planning Specialist Patrick has more than 16 years of industry experience working closely with clients to coordinate complex financial strategies and comprehensive wealth plans. Patrick leads the team in coordinating comprehensive wealth management plans by arranging with clients to work closely with their tax advisor and trust and estate attorney. Patrick has extensive knowledge in the areas of pre and post-ipo planning, executive restricted stock and options planning, concentrated equity risk management, 10b5-1 plan design and execution, asset allocation, life insurance, lending, and monitoring estate and tax coordination. Prior to joining Morgan Stanley, Patrick was associated with Bear Stearns, Robertson Stephens, and Hambrecht & Quist. Robert has more than 19 years of industry experience. Robert manages growth equity and fixed income portfolios. Robert leads the team s efforts in developing and implementing asset allocation strategies, as well as, manager selection and ongoing monitoring. Robert works with the team and investors to analyze and review market trends and individual equity positions in relation to overall wealth management strategies. He has specific experience in fundamental and technical analysis of the overall market. Prior to joining Morgan Stanley, Robert was associated with Bear Stearns, Robertson Stephens, and Hambrecht & Quist. Daniel has over 6 years of industry experience. Daniel has focused his talents on serving the investment needs of highnet-worth clients, as well as corporations. Daniel works closely with clients and the team to provide comprehensive wealth plans. He is responsible for designing and implementing asset allocation plans, cash flow analysis, retirement plans, education plans and 10b5-1 selling plans. Prior to working at Morgan Stanley, Daniel was associated with Bear Stearns. 4 Morgan Stanley

5 Dawn Marie Corrigan Registered Marketing Associate Michael A. Kaplan Financial Advisor Rachael Linnehan Client Service Associate Dawn has over 26 years of industry experience. Dawn works with the group in evaluating and implementing a business model that provides comprehensive financial planning to every one of our clients. She provides efficient high quality service to new and existing clients. Prior to working at Morgan Stanley, Dawn was associated with Bear Stearns, Robertson Stephens, Hambrecht & Quist, Merrill Lynch, and E.F. Hutton. Michael has over 5 years of industry experience. As a Financial Advisor with the group, Michael seeks to develop customized investment portfolios, college savings plans, and retirement/estate strategies for high-net worth individuals, families, and businesses. Furthermore, he handles the team s marketing efforts and business development. Prior to working at Morgan Stanley, Michael was associated with Bear Stearns and Ameriprise Financial. Rachael has multifaceted duties, which compromise coordinating the group s overall day-to-day operation, implementing business management systems, and restructuring business models to increase client service quality. She is also responsible for handling all client requests and supports the team s efforts in fully meeting client service expectations.

6 The Strength of Global Morgan Stanley Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services. The Firm has continually broken new ground in advising its clients on strategic transactions and in providing new opportunities for individual investors. Our clients have always been at the heart of everything we do and we continue to serve them with ingenuity, integrity and the highest standards of excellence. Thanks to the dedication and hard work of more than 60,000 Morgan Stanley employees, our premier client franchise is stronger than ever. According to James Gorman s 2012 Annual Letter to Shareholders, Morgan Stanley posted 2011 net revenues of $32.4 billion and reinforced our position in the marketplace as a trusted advisor to our clients. In 2011, Morgan Stanley was #1 or #2 in M&A and Equity Underwriting. The Firm ranked #1 in completed M&A, advising on eight of the top 10 transactions. We continue to be the underwriter of choice for equity offerings and initial public offerings and led the largest U.S. equity offering and largest global IPO of the year. According to the Morgan Stanley 2010 Annual Report, Morgan Stanley Smith Barney LLC had over $1.7 trillion in client assets under management. Indeed, if there is a single characteristic more than any other that has defined Morgan Stanley throughout the past 75 years, it is the quality of our people and the passion and excellence with which they have built the Firm and served our clients. That was the defining characteristic in 1935 when we opened for business and it is what defines us today with more than 1,200 offices in 42 countries.* *As of January 20, Morgan Stanley

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8 Our Commitment to You As your Financial Advisors, we will ask questions that help us find out about you, the kind of lifestyle you enjoy, what you want to accomplish for you and your family, what worries you and what you re passionate about. And, to help you reach your overall wealth management goals, we are committed to providing you with the following: Exceptional personal service Commitment to objectivity Dedication to simplicity Meaningful integration of life and wealth Exclusive client events In the end, our aim is to provide you with a plan where we: Design comprehensive and customized investment strategies Bring the specialists to you Implement and monitor results 8 Morgan Stanley

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10 Wealth Planning Morgan Stanley Financial Advisors have a long history of providing wealth planning for high net worth individuals and institutional clients. Our overall strategy involves an integrated approach covering such diverse topics as: While all client situations are unique, the Wealth Planning Process consists of the following four basic steps: Family governance and dynamics Philanthropic services Business succession Wealth transfer Personal asset protection* Lifestyle advisory* Private healthcare advisory* Investment opportunities We assist families with the goal of maintaining unity and affluence across generations. By providing you with personalized and consultative guidance throughout the process, we believe this goal can be achieved. *Services provided by third parties, not Morgan Stanley. Morgan Stanley will not have any input concerning such services. For additional information, please contact your Family Wealth Director. 10 Morgan Stanley

11 1Discovery Identifying your values and goals Family Risk tolerance 4Monitoring Ongoing evaluation and reporting Track progress toward goals Set/follow guidelines for liquidity, asset allocation Notification when portfolio strays outside guidelines Performance reporting Online access The Wealth Planning Process 2Analysis & Recommendations Helping you to build an action plan Identification of liabilities and risks Coordination with outside advisors Action plan growth, preservation and / or wealth transfer 3Implementation Providing access to services and providers Trusts Philanthropy Family mission and bylaws Asset management

12 Philanthropy Management One of the most important services we offer is to assist clients in translating their family legacies and personal values into results-oriented, strategic giving programs. Listed below are the various types of philanthropic services that we can provide. estate and legacy planning Advising on establishment of private foundations and other planned giving vehicles grant-making strategies 12 Morgan Stanley

13 Philanthropic Services Provided donor events and giving circles foundation strategies Helping to integrate philanthropy into wealth management plans Assisting with the creation of philanthropic mission statements research, analysis and operational solutions family and philanthropy resource network board development, placement and internship services Providing tools to track the effectiveness and impact of philanthropy nonprofit collaborations and alliance services Helping clients to pool philanthropic resources in areas of mutual interest Drawing upon our firm s global reach and expertise in philanthropy Assisting individuals, families and foundations in translating interests and values into: Effective grant-making Intergenerational philanthropic planning, and Board governance

14 Private Healthcare Advisory* Private healthcare advisory involves giving you access to some of the best medical personnel and institutions that the world has to offer. It allows you to take advantage of highly regarded specialists when needed or to expedite entrance into a healthcare center of excellence. Shown below are the various services that a private healthcare advisory service can provide. PinnacleCare Private Health Advisory understands the importance of enhancing your healthcare experiences. A phone call can mean expedited entrance to health care centers of excellence. 14 Morgan Stanley

15 PinnacleCare Private Health Advisory objective information expedited global access to centers of excellence private health insurance consultation 24/7 support and guidance personalized preventative care access to world-renowned specialists collection and storage of medical records healthcare navigation assistance * Morgan Stanley, its Financial Advisors and its affiliates ( Firm ) do not offer the healthcare advisory services discussed in this piece. If you request additional information, your Financial Advisor may refer you to one or more third-party healthcare advisory firm(s) (the Service Provider(s) ). No healthcare advisory Service Provider(s) is an affiliate of the Firm. Any referral should in no way be considered to be a solicitation by the Firm for business on behalf of any Service Provider(s), or an endorsement of any Service Provider(s) by the Firm. The Firm makes no representations regarding the suitability or otherwise of the products or services provided by any Service Provider(s). There may be additional service providers who offer this service, and you may wish to identify such other providers for comparative purposes. If you choose to contact a healthcare advisory Service Provider(s), we recommend that you interview such Service Provider(s), do thorough due diligence, and make your own independent decision. The Firm will not receive a referral fee for referring you to healthcare advisory Service Provider(s). The Firm is a diversified financial services company with millions of individual clients, and corporations, institutions and governmental clients in several countries around the world. The Firm routinely enters into a variety of business relationships for which either the Firm receives compensation or pays for services, and such business relationships may include healthcare advisory Service Provider(s), employees or agents, or companies affiliated with such Service Provider(s).

16 Trust Services Morgan Stanley has created formal arrangements with third-party corporate trustees to provide fiduciary services for client personal trust accounts. This arrangement enables our clients to work directly with their Morgan Stanley Financial Advisor and take advantage of the Firm s first-rate investment management services for the trust s assets. Trustee services are available for a wide variety of personal trusts including: Living trusts Irrevocable Trusts Testamentary trusts Marital and QTIP Trusts Grantor trusts Charitable trusts Life insurance trusts Special needs trusts Our focus is to educate you on the potential benefits of various types of trust strategies and to help you select a corporate trustee that best meets your trust, estate planning and investment management needs. 16 Morgan Stanley

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18 Investment Opportunities Of course, recommending the appropriate investments for your hard-earned assets is one of the most critical functions that we can perform. The investment consulting process focuses on investment goals, asset allocation, investment manager evaluation and portfolio performance. In conjunction with the Firm s Consulting Group, founded in 1973, we will use a disciplined approach to establish your investment objectives, create customized portfolios and select and monitor your investment strategies. Consulting Group offers a broad array of investment options in a range of risk categories to suit investor objectives of preserving or building wealth. The cornerstone of our consulting process is our objective advice and investment advisor research. Manager research reports from Consulting Group Investment Advisor Research are published solely for the use of our clients and are not sold or released to any other outside organization. These reports reflect rigorous reviews of investment management firms using both quantitative and qualitative factors. Consulting Group is a business of Morgan Stanley Smith Barney LLC.. 18 Morga n Sta n le y

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20 Family Governance and Dynamics Our mission is to help clients strive to maximize the value of their family capital through the transfer and preservation of the family s shared values and the creation of an enduring legacy. In essence, we help clients manage the family dynamics of intergenerational wealth transfer. We recognize that wealth consists not only of a family s financial capital, but also its human and social capital. We seek to accomplish our mission by helping clients find and create processes, structures and strategies that will help them and their descendants lead meaningful and engaged lives. 20 Morgan Stanley

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22 Morgan Stanley Alternative Investments As one of the world s largest wealth management organizations, Morgan Stanley s global network affords us the ability to offer suitable clients a vast number of alternative investment options. We leverage our unique position and our affiliates to source innovative strategies from among the best investment minds in the business. We employ rigorous due diligence to identify, evaluate and select each alternative investment product on our platform to assure that we only introduce our clients to what we believe are the best managers in the industry. Our alternative investments platform includes a variety of investment options that may be offered on a placement or advisory basis. Each of the offerings listed on the following page is supported by a group of professionals who bring with them a combination of expertise and industry knowledge. Your choices will depend on your goals, objectives and risk tolerance. 22 Morgan Stanley

23 private equity Private equity investments are capital invested in companies on a private placement basis and are not available in the public markets. Private equity investments run the gamut of corporate finance strategies, ranging from financing start-up companies to debt instruments in mature companies. Sub-categories that comprise private equity include: leveraged buyouts, venture capital, mezzanine financing, distressed debt, real estate, development capital and special situations. exchange funds Exchange funds allow investors a means to diversify a low-cost-basis and/or restricted stock position by pooling their low-cost-basis stocks in one fund without triggering a taxable event. In exchange for contributing their stock to the fund, each investor owns a pro-rata share of the fund. After a set period of time typically seven years investors can redeem their interest in the fund. At that time, they will receive a non-taxable distribution of a diversified pool of stock from the fund s portfolio. hedge funds Hedge funds are one of the fastest growing investment alternatives to traditional equity and bond portfolios. The term hedge fund is applied to investment vehicles with a wide range of strategies and objectives. However, most hedge funds aim to generate positive returns independent of the market environment. real estate funds Real estate funds serve as a vehicle for pursuing a broad array of direct equity and debt investments in real estate assets, portfolios, joint ventures and operating companies. They may be designed to maximize current income or may be opportunistic in nature such as the development of properties with turnaround potential. Hedge fund advisors have more flexibility than traditional advisors in structuring their portfolios due to limited regulatory and investment restrictions. Most hedge funds are able to use strategies such as purchasing currencies and futures contracts. As a result, skilled hedge fund advisors have the potential to enhance investment returns while striving to protect your capital in weak market conditions.

24 The investments and services listed may not be suitable for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment will depend upon an investor s individual circumstances and objectives. This material is intended only for clients and prospective clients of the Portfolio Management program. It has been prepared solely for informational purposes only and is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or other financial instrument, or to participate in any trading strategy. The individuals mentioned as the Portfolio Management Team are Financial Advisors with Morgan Stanley participating in the Morgan Stanley Portfolio Management program. The Portfolio Management program is an investment advisory program in which the client s Financial Advisor invests the client s assets on a discretionary basis in a range of securities. The Portfolio Management program is described in the applicable Morgan Stanley Smith Barney LLC ADV Part 2, available at or from your Financial Advisor. Morgan Stanley Smith Barney LLC and its affiliates ( Firm ) do not currently offer the trust services discussed in this piece. The Firm has entered into formal arrangements with various trust providers to provide these services. Your Financial Advisor may refer you to one or more third party trust providers (the Service Provider(s) ) as appropriate. Any referral should in no way be considered to be a solicitation by the Firm for business on behalf of any Service Provider(s), or an endorsement of any Service Provider(s) by the Firm. The Firm makes no representations regarding the suitability or otherwise of the products or services provided by any Service Provider(s). There may be additional service providers who offer this service, and you may wish to identify such other providers for comparative purposes. Tax laws are complex and subject to change. The Firm, its Financial Advisors and employees do not render advice on tax and tax accounting matters to clients. This material was not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal income tax laws. Clients should consult their own legal, tax investment or other advisors, at both the onset of any transaction and on an ongoing basis to determine the laws and analyses applicable to their specific circumstances Risk Considerations for Alternative Investments. 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. Funds of hedge funds typically have higher fees than single manager vehicles as they are subject to an additional layer of fees charged by the fund of funds manager. Alternative investments involve complex tax structures, tax inefficient investing and delays in distributing important tax information. Alternative investment funds are often unregulated and are not subject to the same regulatory requirements as mutual funds, and are not required to provide periodic pricing or valuation information to investors. Individual funds will have specific risks related to their investment programs that will vary from fund to fund. Prospective investors of any alternative investment should refer to the specific fund s offering memorandum, which will fully describe the specific risks and considerations associated with a specific alternative investment. This document is offered for informational purposes only and does not constitute an offer to buy or sell any securities, which will be made only through an Offering Memorandum or Prospectus and Subscription Agreement. Investor Eligibility Requirements. For the types of alternative investments discussed here, it is important to note that such investments are not suitable for all investors and, depending on the investment; they typically require the investor to be an accredited investor and/or a qualified client or purchaser. Diversification and asset allocation do not assure a profit or protect against a loss. Morgan Stanley and its Wealth Advisors do not provide tax or legal advice. This material is not intended or written to be used for the purpose of avoiding tax penalties that may be imposed on the taxpayer. Individuals should consult their personal tax and legal advisors before making any tax- or legal-related decisions. With respect to fixed income securities, please note that, in general, as prevailing interest rates rise, fixed income securities prices will fall. Investing in the markets entails the risk of market volatility. The value of all types of investments may increase or decrease over varying time periods. There is no guarantee that these strategies will succeed. The information is intended to illustrate products and services available. The strategies do not necessarily represent the experience of other clients, not do they indicate future performance. Investment results may vary. The investment strategies presented are not appropriate for every investor Morgan Stanley Smith Barney LLC. Member SIPC. CS / 13