The Doolan/ Eldredge Group at Morgan Stanley

Transcription

1 Morgan Stanley The Doolan/ Eldredge Group at Morgan Stanley Todd H. Doolan Portfolio Management Director Senior Portfolio Manager Financial Advisor Iain C. Eldredge Financial Planning Specialist Financial Advisor Theresa A. Coburn Portfolio Associate Senior Registered Associate 100 Middle Street, 3 rd Floor Portland, ME (207) Toll Free: (800) Todd.H.Doolan@morganstanley.com Iain.Eldredge@morganstanley.com

2 Morgan Stanley Outline Page Firm Overview 3 Team Overview 4 Our Process 6 Financial Planning 8 Portfolio Management Strategies 11 Appendix Biographies 15 2

3 Morgan Stanley Firm Overview Founded in 1935 $2.0 trillion in client assets 350 Research Analysts >3,000 Companies covered globally $139 billion in bank deposits Leader in Capital Market Capabilities Diversified Global Presence Deep Intellectual Capital Economists and Analysts Worldwide Award Winning Research Premier Money Management Platform Wealth Planning Centers Simple Solutions Sophisticated Investments Borrowing Strategies Tailored Lending Alternative Investments *As of June

4 Team Overview Value-Added Difference Who we work with We manage over $325 Million for small business owners, successful families and not-for-profit organizations Our clients typically have upwards of $1mm invested with us What differentiates our team We are your portfolio managers, not simply middlemen between you and the portfolio manager We are a small, accessible team that is able to leverage all of Morgan Stanley s resources to benefit our clients Our success lies in our collective knowledge of global allocation strategies, fixed income securities, tax efficiency strategies, non-traditional investments, liquidity solutions and estate planning strategies Portfolio Management + Financial Advisor We integrate the roles of financial advisor and portfolio manager through our disciplined approach which measures the underlying portfolio risks and how those risks measure against potential returns Our team also has the depth and the ability to react to market trends as they occur and respond in a prudent and timely fashion In addition to the resources of our team, Morgan Stanley offers us capital market research, strategic partnerships for specialists with strategies and services not always available through independent advisors Managing money goes beyond simply looking to generate positive returns. It is as much about reducing losses and avoiding surprises Comprehensive Wealth Management Managing wealth can involve more than simply running an investment portfolio. Our team also specializes in tailoring planning solutions while drawing upon the vast resources of Morgan Stanley 4

5 Team Overview Investments Tailored to Your Objectives Portfolio Management Strategies Whether you desire asset growth, preservation of principal, retirement income, transfer of wealth and/or guidance on legacy issues, our dynamic asset allocation strategies can be altered to fit your unique financial goals Active Management Strategies Growth- Our all cap core equity emphasizes high quality, growth-at-a-reasonable price stock selection measured by relative performance to a benchmark such as the S&P 500. Our objective is long-term outperformance, but with less risk than the benchmark Balanced Our absolute return strategy where return objectives are less benchmark oriented, but rather more specific to client risk aversion and needs Tactical and Opportunistic While our core focus is on stock and bond selection, we integrate other asset classes and investment vehicles (e.g. ETFs, real estate, private equity, and hedge funds) on a tactical basis to help reduce risk or profit from an opportunistic theme Because many of our clients reside in high tax states, we frequently look for opportunities in state specific municipal securities Client Service We help clients shape their policy asset allocation, add clarity to the planning process, monitor and communicate progress The client s best interest is paramount to us and we are dedicated to providing these results along with first class client service 5

6 Our Process Establish and Maintain Comprehensive Financial Plan We have an in-depth planning process that provides the baseline for all future investment advice Implement Appropriate Portfolio Model We have created five different asset allocation models that will fit clients based upon their financial plan, risk tolerance and time frame Client Service We always enjoy hearing from our clients and make a point to reach out to our clients at a minimum of every 90 days to provide updates and learn of any changes that could impact the plan. Year end tax reviews are a critical component of our service strategy 6

7 Combining Financial Planning and Portfolio Management Integration FINANCIAL ADVISOR Review and Analysis - Financial Goals - Risk Tolerance - Return Objectives Personalized Strategy - Lifestyle - Retirement income - Legacy issues - Wealth Transformation The level of integration between the two is important for understanding underlying portfolio risk by not outsourcing portfolio management PORTFOLIO MANAGER Asset Allocation - Portfolio Structure - Risk vs. Reward - Active Investments Performance Monitor and Update Implementation - Merge planning to portfolio strategies 7

8 Financial Planning Depth: 8

9 Financial Planning Capabilities: We have the ability to compare multiple financial planning scenarios side by side so that the client may see how different asset allocations, financial goals, and life events may effect their financial plan s outcome We work with Morgan Stanley s Estate Planning team to develop the most appropriate form of tax efficiency for generational wealth transfers as well as consult with, or refer clients to trusted Estate Attorneys Through charitable giving and Morgan Stanley s Donor Advised Fund, we can provide outlet for supporting client s causes as well as providing tax relief We can stress test the client s financial plan for negative returns in the first two years of retirement or even look at how the portfolio would have faired through the Great Recession (November 2007 through February 2009) Access to a comprehensive set of tools that can be utilized to create the client s wealth management strategy: *LifeView Advisor and LifeView Goal Analysis are powered by MoneyGuidePro. 9

10 Aligning Investment Strategy With Client s Goals Asset Allocation The goals and risk tolerance of each client provide the baseline for each client s most appropriate asset allocation 10

11 Investment Management Focus Portfolios May include individual stocks & bonds, index funds, active & passive strategies Municipal Bonds Morgan Stanley is a dominant player in the municipal bond market and we believe high quality tax-free bonds greatly enhance returns Tax-Efficiency We strive to utilize low turnover, tax efficient strategies and prefer tax-free municipal bonds where appropriate We will consult with client s CPA when necessary Alternative Investments For our high-net worth clients we may recommend market neutral hedge fund or private equity investments as we believe these increase returns while decreasing volatility We are able to partner with some of the leading global providers in this area 11

12 Active Investment Strategies through our Portfolio Management Program We Avoid We Avoid Attempts to Generate Returns From Shorting Active currency management Foreign debt as a direct holding Leverage Stock Characteristics We Typically Avoid Story stocks with no proven history of earnings Management teams that lack depth Excessive valuations Over leveraged balance sheets Micro cap 12

13 Active Investment Strategies through our Portfolio Management Program Research Driven Security Selection Top Down and Macro-Economic Research We focus on macro-economic factors, such as economic growth rates, business cycles, central bank policies, the political climate and the relative value of currencies; these factors can have a crucial impact on global and sector-specific performance Bottom Up Company Analysis Seeking growth at reasonable prices 3 year time horizon Fundamental analysis starting with valuation metrics Overlay a qualitative analysis Skilled management that cares about creating shareholder value Business models that can compete globally and increase market share The depth of research at Morgan Stanley is also extremely valuable Morgan Stanley tracks over 3,000 global companies 13

14 Active Investment Strategies through our Portfolio Management Program Research Driven Security Selection Tactical and Opportunistic These holdings are selected to reduce risk on your portfolio or take advantage of an opportunistic investment theme 3 month to 2 year time horizon Non-core holdings are tactical investments that integrate ETFs (Exchange Traded Funds), country or region specific holdings, and alternative investments such as real estate, private equity, hedge funds, commodities and currencies Multiple scenarios Deep value and contrarian companies Sector and economic themes New and disruptive technology that can be game changers in their respective industries Business cycle dislocations Fixed Income Selection US-centric and Investment Grade Fixed income securities are chosen to: Enhance preservation of assets during high equity volatility Meet income requirements and seek relative value during certain interest rate environments 14

15 Active Investment Strategies through our Portfolio Management Program Asset Allocation Asset classes: Global developed equity Emerging equity Taxable and tax free fixed income Absolute return strategies Private equity Alternative investments Tactical ranges for all asset classes based on: Volatility Liquidity Risk parameters 15

16 Appendix Biographies Todd H. Doolan - Portfolio Management Director, Senior Portfolio Manager, Financial Advisor As the Portfolio Manager, Todd manages the selection, performance and risk in our portfolios. Having grown up outside of New York and with a father in the business, Todd always knew he wanted to work on Wall Street. After graduation from Brown University in 1985, he became an Institutional Equity Trader for Lehman Brothers for four years. He and his wife decided to change pace by moving to Maine in 1989 when he became a Financial Consultant for Smith Barney. Todd has served as Past President of the Rotary Club of Freeport, as an Assistant Governor of Rotary District #7780 and currently serves on the District Foundation Committee. Todd is also a past Board Member of Freeport Community Services and the TriTown Little League. Recently Todd helped get the Brown Club of Maine up and running and currently serves as its President. Todd and his wife Cindy currently live in South Freeport, Maine with their two children. In Todd s spare time, he enjoys golf, skiing, and traveling with his family. Todd holds his Series 7, 63, 65. He is also licensed to offer life insurance, annuities and long-term care. Todd was selected to Barron s Magazine* Top 1200 Financial Advisors in 2014, 2015 and Iain C. Eldredge -Financial Planning Specialist, Financial Advisor Since joining Morgan Stanley, Iain has designed many financial plans for a variety of clients from small business owners to multi-generational families. This experience allows him to tailor a financial plan and customized portfolio for each clients goals, risk tolerance and time frame. Iain is also a graduate of Brown University where he earned a degree in Economics and played varsity soccer for a national caliber program. Iain grew up in Cumberland, ME and attended Greely High School. After Brown he had great experiences with two of Maine s largest employers in the form of Hannaford and Idexx. He also spent time with world renowned Vail Resorts, which helped him see firsthand what exceptional client service is all about. Iain is currently a member of the Maine Estate Planning Council, Portland Museum of Art Contemporaries, the 10 th Mountain Division Descendants & Propel. Iain is also a volunteer coach with the local Seacoast Maine youth teams, Greely High School Boys soccer and plays semi-professionally for the Seacoast United Mariners NPSL team. Outside of work Iain enjoys coaching soccer, skiing and reading. Iain holds his Series 7, 63, 65. He is also licensed to offer life insurance, annuities and long-term care. 16

17 Appendix Biographies Theresa A. Coburn Portfolio Associate, Senior Registered Associate Terry s role on the team is to manage the systems and administration of the practice. Terry s career in financial services began 24 years ago with A.G. Edwards and Sons in their operations department after a career as a fashion boutique owner. Terry has been with Morgan Stanley for the past 17 years as a Senior Registered Associate. Terry has also served as a board member for LearningWorks over the past four years. Her passions outside of work are her son, traveling, sports, music and great food. Terry holds her Series 7, 63 and 66. *Barron's Top 1,200 Advisors, March 6, 2016, as identified by Barron's magazine, using quantitative and qualitative criteria and selected from a pool of over 4,000 nominations. Advisors in the Top 1,200 Financial Advisors have a minimum of seven years of financial services experience. Qualitative factors include, but are not limited to, compliance record and philanthropic work. Investment performance is not a criterion. The rating 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 to Barron's in exchange for the rating. Barron s is a registered trademark of Dow Jones & Company, L.P. All rights reserved Morgan Stanley Smith Barney LLC. Member SIPC. 17

18 Disclaimers 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 ADV Part 2, available at stanley.com/adv or from your Financial Advisor. Holdings are subject to change daily, so any securities discussed in this profile may or may not be included in your account if you invest in this investment strategy. Do not assume that any holdings mentioned were, or will be, profitable. The performance, holdings, sector weightings, portfolio traits and other data for an actual account may differ from that in this material due to various factors including the size of an account, cash flows within an account, and restrictions on an account. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed in this material may not be suitable for all investors. Morgan Stanley Wealth Management recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor s individual circumstances and objectives. The views expressed herein are those of the author and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is no guarantee of future results. Morgan Stanley Wealth Management has no obligation to notify you when information in this presentation changes. S&P 500 Index is an unmanaged, market value-weighted index of 500 stocks generally representative of the broad stock market. An investment cannot be made directly in a market index. The information and data contained in this report are from sources considered reliable, but their accuracy and completeness is not guaranteed. This report has been prepared for illustrative purposes only and is not intended to be used as a substitute for monthly transaction statements you receive on a regular basis. Please compare the data on this document carefully with your monthly statements to verify its accuracy. Morgan Stanley Smith Barney LLC. Member SIPC 18