Morgan Stanley Financial Advisors

Morgan Stanley Smith Barney LLC and its affiliates, Morgan Stanley Financial Advisors, Morgan Stanley Private Wealth Advisors, and Morgan Stanley Financial Advisors (collectively, “Morgan Stanley”) provide “investment advice” on a retirement account, an individual retirement account, or Coverdell Education Savings Account (collectively, “Retirement Account”). Morgan Stanley is a fiduciary under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, as amended, depending on the circumstances. Morgan Stanley is not a fiduciary under ERISA or the Code if it provides investment education, accepts orders without involving solicitation, or provides investment advice concerning assets within an account. For more details about Morgan Stanley’s role concerning a Retirement Account, please visit www.morganstanley.com/disclosures/dol . The tax code is difficult, and it is subject to policy adjustments; therefore, Morgan Stanley is not allowed to provide legal or tax advice. Legal and tax consultants must be contacted before opening a retirement account. Contact a tax expert if tax advice or tax planning is necessary. An attorney should be contacted for legal advice on trust and estate planning, charitable giving, and other legal matters.