James R. Cotto Corporate Client Group Director Senior Vice President Senior Investment Management Consultant Wealth Advisory Services for Families of

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1 James R. Cotto Corporate Client Group Director Senior Vice President Senior Investment Management Consultant Wealth Advisory Services for Families of Fallen Heroes

2 2000 Westchester Ave 1NC Purchase, NY / MAIN / TOLL-FREE / FAX James.Cotto@morganstanley.com

3 James R. Cotto Corporate Client Group Director Senior Vice President Senior Investment Management Consultant Every day, United States armed forces stationed around the world put their lives at risk to protect America s interests and ideals of freedom. It is their duty and their responsibility, and they perform it with a great sense of pride and dignity. The professionalism and heroism of our military is a source of honor and respect for all Americans. On October 23, 1983, we lost 241 U.S. service members to a terrorist attack in Beirut, Lebanon, making this incident the deadliest single attack on Americans overseas since World War II. Over 100 other Americans were injured in the attack. Nothing can replace the loss of these brave individuals, nor compensate for the physical and emotional impact on the survivors and the families of those brave servicemen. As the son of a U.S. Marine who was a veteran of World War II and the Korean War, I have followed this story with great interest. When this tragedy occurred, my father was very upset and hoped that someday justice would be served. As a result, I since vowed that if the civil case against Iran were ever resolved, I would assemble a group of professionals with diverse expertise and talents to assist the families of these fallen heroes. JAMES R. COTTO 3

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5 My Background James R. Cotto Corporate Client Group Director Senior Vice President Senior Investment Management Consultant James began his career as a financial advisor in 1988 at First Albany Corporation before joining Merrill Lynch in In 2001, he decided to move his practice and joined Wachovia Securities as a Managing Director, Investment Officer. In April 2009, he joined Morgan Stanley. From 1995 to 2004, James assisted the New York State Office of Mental Retardation and Developmental Disabilities ( OMRDD ), the nonprofit corporation servicing this state agency and families of children with disabilities. As a result of his efforts, James was formally appointed by Merrill Lynch as the spokesperson for their Families of Children with Disabilities program. He has been featured on local, national and syndicated shows such as Money Talks and Good Day New York. In 2009, Barron s Magazine recognized James as one of the top 1,000 advisors in the nation, and ranked him in the top 65 financial advisors for the state of New York. James is a graduate of Rutgers University in New Brunswick, New Jersey. He currently resides in Cross River, New York and loves spending as much time as possible with his wife, Cory, and their three children, Carol Ann, Raymond and Lucy. James and his wife share a passion for raising awareness for Operation Smile, an international charity that corrects facial deformities in children, because their youngest child was born with a cleft palate. They currently sit on the Benefactors Committee in New York City and continually strive to ensure that every child is given the opportunity to smile. JAMES R. COTTO 5

6 Working with Me After learning of the recent judgment awarding compensation to the families of the victims of the Beirut bombings, I immediately got to work to assemble the appropriate resources. We know living with this tragedy for more than 31 years has certainly taken its toll on these families. With the assistance of Morgan Stanley s Veterans employee network, we have assembled military veteran employees and their specialist teams from various areas of wealth management. They have been inspired to provide guidance and services to assist these families. Here are some of the attributes my clients value about working with me: - An entrepreneurial spirit - A commitment to uncovering highvalue opportunities in the marketplace - A passion for excellence and success - A sense of connection with my community - Broad relationships within my field - A dedication to philanthropy - A breadth of product knowledge beyond the scope of traditional investments - A focus on the big picture - An obsession with professionalism I am committed to an uncompromising level of service, so I limit the number of clients with whom I work. Most of them come to me as referrals, a testament to the relationships I have with my clients. If this sounds like the type of firm you would like to work with, I welcome an opportunity to speak with you. 6 MORGAN STANLEY

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8 What Makes Me Different? For more than 25 years, I have been responsible for overseeing my clients entire financial universe. I strive to understand and define your goals, then work with you to help achieve them through a comprehensive wealth management plan. I make a clear distinction between financial advice and product selection, helping to ensure that all of my recommendations are aligned with your specific needs. Diverse Skills and Deep Specialties I provide a wide array of advice and assistance to my clients and continually strive to exceed their highest expectations. I offer specialized knowledge in such topics as: - Financial planning - Business planning - Estate and trust services - Philanthropic services - Lending services - Cash management - Risk management - Foundation counseling High-Touch Services I provide a great deal of focus and attention to each client family. By adhering to a rigorous process, I am able to deliver a menu of complex services in a consistent manner. As a client, you will receive integrated reports that facilitate big picture decision making, as well as quarterly reviews. You will also benefit from relationship pricing across your family group, as well as consistent, integrated, comprehensive services that consider the short- and long-term goals of your entire family. Multi-Generational Planning I typically work with an entire family the patriarch/matriarch, their children and grandchildren. Planning encompasses the family s goals, which usually include passing wealth down to the next generation in a taxefficient manner. Children and grandchildren are clients and are counseled on investments, estate planning, and philanthropy from an early age. We often coordinate and moderate family meetings for our clients. Comprehensive Capabilities I don t just believe in offering products and services, but providing solutions for my clients. I am committed to providing skills and capabilities, creatively integrating specialized services that may extend far beyond those of other advisors. Essentially, the goal is to provide whatever financial information that will help meet your defined objectives. Customized Approach and Confidentiality My multi-family office approach offers integrated, interdisciplinary services to high net worth individuals and families. I provide customized service and confidentiality at the highest level. I can function as your center of influence, as I am focused on asset protection, cost control, financial education, family philanthropy and a host of other needs. Combined with the global resources of Morgan Stanley, I can offer you and your family the kind of deep, holistic wealth management that will help you achieve your financial goals. 8 MORGAN STANLEY

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10 Benefits to My Approach Here is a sample of the services I can provide: Confidentiality in the management of your financial and personal affairs Cross-fertilization of ideas resulting from solving issues for multiple families Access to a wide array of integrated services Strategies that are customized for each household Objective financial advice Close coordination with your other advisers Integration of estate planning, investments, philanthropic goals and family situations A comprehensive planning process Disciplined, proactive management of client affairs A focus on continuity of family wealth across generations A strong commitment to education and responsibilities of ownership Coordinated teams of qualified professionals who can collaborate on your wealth management matters Experience in managing generational transitions Relationship pricing for inter-disciplinary services Trustee services Coordination of professionals Risk management and asset protection consulting Cash management Global asset allocation and investment strategy consulting Selection and monitoring for accredited investors Portfolio management Comprehensive performance reporting Estate planning strategies Philanthropic planning Life insurance analysis Debt structure and analysis financing Foundation management Family business advisory services Family counseling / family meetings Sufficiency and retirement planning 10 MORGAN STANLEY

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12 Meet the Veterans Employee Networking Group Professionals John W. Picone Managing Director, Global Wealth Management Head of National Sales, Retirement and Insured Solutions John W. Picone is a Managing Director at Morgan Stanley and is Head of National Sales for Retirement and Insured Solutions. He previously held a number of senior positions in Morgan Stanley s wealth management and investment management businesses over the past 18 years. John served in the U.S. Marine Corps and is co-chairman of the Morgan Stanley Veterans Employee Networking Group. He has represented Morgan Stanley on many veteran-related initiatives, including the development of finance and business content for the curriculums at the Naval and Army War colleges. Most recently, John developed an initiative that Morgan Stanley is currently implementing across the country in at-risk school districts. The program will implement the Congressional Medal of Honor Foundation s flagship Character Development Program. John has been a longstanding mentor for veterans through American Corporate Partners, and has spearheaded Morgan Stanley s effort to increase the number of mentor volunteers. He is also a member of the American Legion. John received the Rising Stars of Mutual Funds award from Institutional Investor Intelligence in He also co-founded the National Unit Trust Association, and previously served as its president and member of its board. John earned an MBA from the Peter J. Tobin School of Business, and graduated the Securities Industry Institute at The Wharton School. He holds the Series 3, 7, 24 and 63 licenses as well as his Life and Health insurance credentials. John has three children and currently lives in Dutchess County, New York. John Hesse Executive Director Director of Distribution, Funds and Unit Trusts John Hesse joined Morgan Stanley in 2004 as a Mutual Fund Consultant for the Southwest Region. Prior to joining Morgan Stanley, John worked for Merrill Lynch for 11 years as a Financial Advisor, Complex Risk Officer, Branch Manager and Complex Sales Manager. While at Merrill Lynch, John was one of the architects of the Supernova program, coaching numerous Financial Advisors in Client Segmentation, Service, Retention and Acquisition. John assumed the role of Director of National Sales for Mutual Funds, Closed End Funds, Exchange Traded Funds, Unit Trusts and College Savings Plans for the Morgan Stanley Investment Solutions Group in July He holds FINRA Series 24, 3, 63, 65, 7, and 8 licenses, the designation of Chartered Mutual Fund Counselor (CMFC) from the College of Financial Planning, the designation of Certified Fund Specialist from the Institute of Business and Finance, and is a Certified Microsoft Office Specialist. He is the author of numerous mutual fund business tools, including the Managed Asset Profile Report and the Asset Manager Breadth and Depth Report. Originally from Fayetteville, North Carolina, John graduated from the U.S. Naval Academy in 1987, with a Bachelor of Science degree in Political Science. John served as the Navigator and Gunnery Officer aboard the USS Semmes (DDG-18) from 1987 to 1991 and as a Naval Weapons Instructor in Charleston, SC from 1991 to John is based in St. Louis and lives in O'Fallon, Missouri with Tina, his wife of 23 years, and their two children, Emily and Phillip. (continued on page 14) 12 MORGAN STANLEY

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14 Meet the Veterans Employee Networking Group Professionals (continued) 14 Robert Peyreigne Senior Vice President Complex Manager, Madison Avenue Complex With more than 20 years of financial services experience, Bob Peyreigne is the current Complex Manager of Morgan Stanley s Madison Avenue Complex in Manhattan. He joined Morgan Stanley in Bob attended the U.S. Naval Academy, where he also played lacrosse. After graduation in 1981, he served for more than eight years as a naval aviator flying the A6-E Intruder, accomplishing more than 100 night carrier landings. Bob began his career with Kidder Peabody in the Garden City, NY office. Over the past 20 years, he has served as a financial advisor and has held several management positions at UBS and Merrill Lynch. He currently resides in Weston, CT with his wife, Betsy, and their three children, Nichole, Alexander, and Christine. Vaughn Bowman Executive Director Vaughn Bowman is an Executive Director at Morgan Stanley and is responsible for goals-based investing within the Investment Products and Services organization. Prior to this role, Vaughn held a wide range of MORGAN STANLEY positions at the firm within the areas of platform development, product development, and business management. Vaughn is an active member of the investment industry. He is a member of the CFA Institute and the Private Wealth Management Committee of the New York Society of Security Analysts. Vaughn is also a Major in the Military Intelligence branch of the US Army Reserves, and a veteran of Operation Iraqi Freedom. Vaughn received his Bachelor of Arts degree in English Literature from New York University and holds the Chartered Financial Analyst designation. In his private life, Vaughn is active in his community in White Plains, NY, where he lives with his wife and three children. He participates in several charities that benefit underprivileged youth and military veterans, including Big Brothers Big Sisters and the Stephen Siller Foundation. Timothy Pubins Executive Director Private Bank Group-Lending Timothy Pubins joined Morgan Stanley in May 2011 as the Head of High Net Worth Lending, Product Solutions. Most recently, he has been leading Morgan Stanley s efforts to develop and enhance their wealth management lending product offering. Prior to joining Morgan Stanley, Tim worked at Merrill Lynch from 1998 to 2011 in a variety of leadership roles in Merrill Lynch s Global Bank Group. Tim held numerous positions during this time, including senior roles in Merrill s U.S. and International Banks. Tim s last role at Merrill Lynch was Head of Lending Services, where he had responsibility for the day-to-day management of all of Merrill Lynch s Credit Operations in the U.S. and Latin America. He also served as the Chief Operating Officer of Merrill Lynch Cayman Bank Ltd. While at Merrill Lynch, Tim was one the key members of the team that launched Merrill Lynch s market-leading wealth management focused banking and lending business. Originally from Chicago, Tim enlisted in the U.S. Navy, where he served honorably as a Dental Technician. During his military service Tim was promoted to the rank of Petty Officer Third Class and trained and served at several different locations. Tim works out of our offices in New York City and lives in Doylestown, Pennsylvania, with Michele (LCDR USNR), his wife of 18 years, and their four children, Rachel, Sarah, Katherine, and Elizabeth.

15 Chris Allen Assistant Vice President With more than 15 years of experience with Morgan Stanley, Chris Allen is currently working in the firm s We Hear You division, facilitating feedback from financial advisors in the field. He is responsible for optimizing their experience with the Morgan Stanley financial advisor platform. Prior to taking on his current role, Chris spent 14 years in the firm s Technology Training Group, as the head of Training in the New York City branch. There, he was responsible for training Morgan Stanley financial advisors, management and sales support teams on all of the firm s technology initiatives and platforms. Chris also assisted with the firm s recruiting efforts by demonstrating technology to potential recruits during the recruiting and onboarding process of newly hired advisors. Chris graduated from the State University of New York in He served in the U.S. Marines from 1985 until 1989.

16 Risk Management Retirement Integrated Planning Investment Management Liquidity Estate Planning

17 Education Funding Business Strategies A CULTURE of EXCELLENCE OVER THE YEARS, YOU WILL MAKE MANY FINANCIAL DECISIONS. ONE IN PARTICULAR IS LIKELY TO HAVE A LASTING IMPACT ON YOUR WELL BEING AND THAT OF YOUR FAMILY: THE CHOICE OF A FINANCIAL ADVISOR. Charitable Pursuits Thoughtful decision-making usually begins with a lot of questions. As you get answers and information, you can develop a framework for evaluating different choices and strategies. Little by little, you gain both the knowledge andtheconfidencetomakedecisions and create a wealth plan that helps you achieve your goals. You will find your Morgan Stanley Financial Advisor to be a source of objective information and ideas as you begin to assess how to best manage your wealth. Over the course of many years, our firm and Financial Advisors have developed an in-depth understanding of virtually all the challenges, goals, preferences, styles and strategies that distinguish wealthy investors. This experience is combined with access to a wide array of resources designed to help you maximize what you have and accomplish your specific goals whether you are preparing for the cost of educating children, managing risk in your portfolio or finding ways to increase the impact of your charitable contributions. Your Financial Advisor is an advocate within our firm, an intelligent editor who selects and aligns the many capabilities of Morgan Stanley for you, delivering resources to you in the way that is appropriate for how you invest and what you want to achieve.

18 The Morgan Stanley Veterans Employee Networking Group Morgan Stanley is dedicated to supporting our country s military veterans and has developed the Morgan Stanley Veterans Employee Networking Group to provide a host of services to our financial advisors, our employees and members of our local communities to demonstrate our commitment. The Morgan Stanley Veterans Network focuses on four core areas: Networking. Providing members of the Morgan Stanley Veterans Employee Networking Group with opportunities to network, mentor, support and connect with one another as they navigate their careers and transition from or to active service. Talent Development. Offering second career opportunities in financial services through active recruiting initiatives. Communication. Identifying ways to further enhance the visibility of our servicemen and women. Community Service. Engaging in volunteering activities and community and other outreach programs, specifically related to military organizations. 18 MORGAN STANLEY

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20 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 Smith Barney LLC 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 investors individual circumstances and objectives Morgan Stanley Smith Barney LLC. Member SIPC /2014 CRC