The Fishbein Group at Morgan Stanley

Transcription

1 The Fishbein Group at Morgan Stanley

2 702 King Farm Boulevard Suite 500 Rockville, MD / MAIN

3 Logical Financial Perspectives Since 1998, with roots dating to 1984, the Fishbein Group at Morgan Stanley has helped clients manage and preserve wealth. Even highly intelligent people are prone to letting their emotions take over investment decisions. At the Fishbein Group, we recognize the power of your emotions to affect your choices, and balance them it s through data-driven analysis of your readiness for retirement, or following our disciplined approach to selecting investment managers, we take a measured approach to your wealth. To maximize your ability to realize your goals, we can coordinate strategy for your wealth that considers your portfolio, estate plan, insurance and tax needs. THE FISHBEIN GROUP 1

4 The Fishbein Difference From our logical approach to managing your wealth, to our situation, to the top-to-bottom professionalism of our team, we ve always been proud to be a little different. Here are a few of the most important ways in which the Fishbein Group stands out from other advisory teams. Reviewing your whole picture Our comprehensive discovery process is designed not only to learn about you and your wealth, but also to find out what makes you tick financially. Then, we tie that information to academic research to help construct the right portfolio for your distinct money personality. Your portfolio is an important part of your financial health, but it s just one of many. We will take a measure of your entire financial situation and craft a unified strategy that considers your assets, liabilities, insurance, estate planning and tax needs. We also know when to defer to specialists, so part of our approach is to work closely with your other financial professionals such as your CPA, insurance agent or estate attorney to ensure a consistent approach. A focus on your goals In evaluating your portfolio s performance, we do more than simply compare your results to that of an appropriate benchmark index. Our sophisticated wealth analysis also involves determining your target rate of return. Based on this analysis, we ll recommend a customized strategy that takes into account an appropriate asset allocation and risk level, given your goals and personal attitudes. 2 MORGAN STANLEY

5 Asking key questions Our process focuses on two fundamental questions designed to get to the heart of your financial situation: 1) Do I have enough to make it? Meaning: Are you on track to reach your goals? 2) Are there any blind spots? Meaning: Have you overlooked anything such as insurance, estate planning needs, taxes or liability concerns that could derail your progress? We will help you define the potential roadblocks on your way, and develop a plan for clearing them. Your active advisor Nobody likes a nag. But keeping you on task and helping you complete what s critical for your financial health is a vital part of what we offer our clients. Whether this involves reminding you to update your estate plan, assessing any gaps in your insurance coverage or meeting with you regularly to assess your retirement readiness, we will work together closely to help you achieve your objectives. Outstanding service We closely manage the growth of our practice to ensure that each client receives the type of service we would want to receive ourselves. Whether it s the highly qualified professionals on our client support team or our highly accessible financial advisors, we are always available to address your needs, quickly and accurately. An objective approach At the Fishbein Group, we never recommend products that we don t believe are fully in your best interest. With only a few exceptions, our practice is fee-based, meaning that we have a financial incentive to see you do well. Early in our relationship, we will have a straightforward conversation with you about our costs, which we will clearly disclose. Our approach also involves treating you with the respect you deserve. This means explaining our approach in terms you can understand. It also means being upfront about clients portfolio performance in relation to their financial goals even when it involves hard truths. THE FISHBEIN GROUP 3

6 Services to Match Your Needs access to the vast array of services made possible by our relationship As we develop a logical approach to your wealth, here are some of the services we can provide. For other matters not listed here, please let us know how we can help you. Investment management Portfolio construction and management Tax-efficient asset allocation Money manager duediligence research Open-architecture platform Morgan Stanley-exclusive investment opportunities Alternative investments Performance management Risk analysis Wealth planning Goals-based planning Cash-flow planning Retirement planning Educational planning Consolidated financial picture (OneView ) Estate and legacy planning Insurance solutions Wealth transfer and trust strategies Current insurance review Trust services Charitable giving strategies Coordination with outside legal and tax advisors Securities-based lending (secured) Residential real estate financing Comprehensive tailored lending solutions 4 MORGAN STANLEY

7 THE FISHBEIN GROUP 5

8 Customizing Your Plan There are no shortcuts to developing a plan for your wealth. Before we can recommend an appropriate asset allocation and investment gain a complete picture of you situation, and what you hope to accomplish. Only then can we suggest a logical approach to help you achieve your 6 MORGAN STANLEY

9 Step 1: Discovery The process begins with a long conversation, so we can get to know you and your financial situation. Our in-depth discussion uncovers your attitudes toward risk and money; your financial goals; and your dreams, hopes and fears. Step 2: Wealth and investment plan Based on your feedback, we will analyze your personal and financial information and will also identify potential threats to your financial health. You will receive a comprehensive plan, as appropriate, covering retirement, education planning as appropriate, wealth transfer, debt management, risk management, tax-minimization planning and charitable giving. Step 3: Mutual commitment About one or two weeks after presenting you with a detailed wealth planning strategy, we meet to mutually decide to work together. This is where we sign any necessary paperwork and begin to implement your plan. Step 4: Follow-up After some time, typically 45 to 60 days, we assist you as you make the transition into your financial plan. We explain all your first investment statements, help you organize your new documents and answer any remaining questions you may have. Step 5: Regular progress updates To remain up-to-date on your changing financial needs, we will meet with you regularly and, when necessary and with your consent, collaborate with your accountant, estate attorney and other advisors to ensure a coordinated approach to your wealth. THE FISHBEIN GROUP 7

10 Selecting the Right Investments should be, too. a group of individual money managers that we believe meets your objectives. Our goal is to help you attain a rate of return that gives Evaluating investment products Depending on your needs, we may invest in stocks, bonds and alternative investments such as hedge funds, private equity and managed futures, using both separate account managers (SMAs) and mutual funds. In certain cases, we may also recommend annuities or life insurance if we believe they are suitable for your particular situation. To determine which products are right for you, we consider their cost, tax-efficiency and flexibility, as well as your investment views and tolerance toward risk. We also take into account how the investments will fit together, as we look to build a diversified portfolio with an expected rate of return that s sufficient to realize your goals. How we allocate your investments across different categories will reflect your stage of life and what you hope to accomplish. Choosing managers By relying on a combination of our own due diligence and that of the firm, we design your portfolio to include investment managers that we think are excellent on an individual basis and also complement each others strengths. Our disciplined process of evaluating managers involves reviewing their investment process, their access to resources for successfully applying their strategy, the consistency of their personnel and the quality of their business operations. Because investment managers have different areas of specialization, we look for those we believe best fit your goals. We prefer managers with a disciplined, repeatable process that is not dependent on a star individual to implement it effectively. We also want a sufficiently tenured management team with limited turnover. Managing risk Keeping investment risk under control is one of our key objectives. We are consistently careful to balance your risk and potential return, while considering your long-term goals and sensitivity to market volatility. To this end, we look at much more than long-term performance when we choose money managers. For example, we review their upside and downside capture ratios a measure of how much a given investment has outperformed or underperformed a broad market index during periods of market gains or losses. Also, when we use multiple managers in a given asset class, we try to select those whose investments are minimally correlated, thus enhancing diversification. 8 MORGAN STANLEY

11 Ron Fishbein, PhD, has been repeatedly recognized by Barron s as one of the country s Top 1000 financial advisors. Kevin Fishkind has achieved the demanding Certified Investment Management Analyst designation. THE FISHBEIN GROUP 9

12 The Fishbein Team all share the same commitment to providing you with a logical perspective on your wealth. Ronald L. Fishbein Managing Director Senior Investment Management Consultant Financial Advisor Ron provides financial advice to clients from varied backgrounds, including a specialized knowledge of the challenges faced by litigating attorneys and by owners and employees of governmentcontracting companies. He is dedicated to helping his clients set and achieve their retirement goals, and he has been named a Top 1000 Advisor by Barron s every year from 2009 to Prior to joining the Fishbein Group at Morgan Stanley and its predecessor firms in 1984, Ron worked for several city and state governments and the federal government, after beginning his career in 1969 as a teacher and educational researcher. He holds his B.A. in political science from the State University of New York at Buffalo, M.A. in counselor education from New York University, and Ph.D. in educational research from Florida State University. Ron is a member of the Samuel Gompers-Benjamin Franklin Mason s lodge and a past president of its social division. He has been actively involved in the Montgomery Village Sports Association, the Jewish Council for the Aging of Greater Washington, D.C., and the International Eye Foundation. Ron enjoys spending time with his family and pursuing his wide-ranging intellectual interests. He and his wife, Dana, have been married for more than forty years and devote most of their vacation time to visiting their grandchildren, siblings, nieces and nephews across the country. Stuart S. Fishbein First Vice President Financial Advisor Stuart has worked with Morgan Stanley and its predecessor firms since 1998, helping many successful businesspeople address their personal and professional financial goals. Specifically, he has extensive knowledge of the unique issues facing executives in the car rental industry. Prior to joining the Fishbein Group at Morgan Stanley, Stuart held a management position in the car rental industry. He received his B.A. from East Carolina University, where he studied psychology and focused on family relations and child development. Stuart s favorite pastimes are spending time with his wife, Megan; his son and two daughters; and other family members, as well as skiing, golfing, reading, going to the beach and training at the gym. Kevin E. Fishkind, CIMA Vice President Financial Advisor Kevin has worked as a Financial Advisor with the Fishbein Group at Morgan Stanley and its predecessor firms since 2003, where he specializes in guiding corporate attorneys and families on wealth management issues. Kevin enjoys this process because it allows him to apply his quantitative knowledge in finance, as well as his industry insights and communication skills, on behalf of his clients. Prior to joining the firm, he spent four years as a district and assistant division manager with Vector Marketing, where he successfully recruited and trained sales representatives. Kevin received his B.B.A. from Emory University with concentrations in finance and communications. Outside the office, he is committed to various leadership and volunteer roles in his community. He currently serves as a board member of the Jewish Federation of Greater Washington, from which he received the Jerome Dick Young Leadership Award in 2011, and Capital Camps and Retreat Center. He is also a member of the 2013 Washington, D.C., Wexner Heritage Program. He enjoys spending time with his wife, Meryl, and two daughters, and he is an avid fan of the Baltimore Ravens, as well as of several other local teams. 10 MORGAN STANLEY

13 Daniel J. Twomey III Financial Advisor Deborah Sacramo Portfolio Associate Victoria Fredericks Registered Marketing Associate Dan has worked with the Fishbein Group at Morgan Stanley and its predecessor firms since 2007, providing research for money managers, generating and presenting client progress reports, and developing client relationships and giving advice. Dan accepts public speaking engagements on various investment topics, such as a recent request from the CFA Institute of Washington, D.C. Prior to working with the Fishbein Group, he was the pilot sales manager for Vector Marketing. Since graduating from Georgetown University with a B.A. in economics, Dan has been very involved with the Georgetown Alumni Association of Washington, D.C., as well as serving on the alumni association board of his high school, Loyola Blakefield. In his spare time, Dan can usually be found mountain biking, scuba diving, and watching Georgetown basketball games with his wife, Tarryn. Debbie joined the Fishbein Group in She primarily oversees the group s day-to-day operations, and also ensures clients receive the superior service they have come to expect from the team. In her spare time, Debbie serves as secretary for the board of Operation Second Chance, a non-profit organization devoted to military veterans, and enjoys spending time with her husband, four children and grandchildren. Jonathan Waligora Consulting Group Analyst Vicki has worked with the Fishbein Group since She focuses on developing retirement analyses for clients, including how much they will need to accumulate over time, given the inevitable fluctuations of the market. She is a graduate of the honors program of the University of Maryland, College Park, with a B.S. in decision and information sciences. In her free time, she plays the piano and enjoys time with family and friends. Our knowledgeable team a combined 60 years of experience in meeting the needs of clients. Together with our skilled support professionals, we combine our strengths to help you meet your objectives. Jon has worked with the Fishbein Group since He is a graduate of Michigan State University, where he earned a B.A. in finance. His professional focus is on directly serving clients and preparing financial analyses for them. Away from the office, he is usually found watching sporting events, especially when his Michigan State Spartans are playing. Barron s Top 1,000 Advisors, February 18, 2013, 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 1,000 Financial Advisors have a minimum of seven years of financial services experience. Qualitative factors include, but are not limited to, compliance record, interviews with senior management, 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. THE FISHBEIN GROUP 11

14 The Logical Choice Managing your emotions is part of any successful investing strategy. At the Fishbein Group, it s a central part of our disciplined process of designed to achieve your long-term goals. please call us anytime. 12 MORGAN STANLEY

15 from Morgan Stanley The Fishbein Group is backed by the vast global resources of with more than $1.8 trillion in assets under management. * Over the past 75 years, Morgan Stanley has supported its clients capabilities to successful individuals and their families three decades ago, since earning the trust of generations of sophisticated clients. The powerful combination of the Fishbein Group s outstanding personal service and Morgan Stanley s money management platform experience, with the specialized services and solutions needed *as of March 13 TH, 2013

16 The investments and services listed may not be suitable for all investors. Morgan Stanley SmithBarney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice depend upon an investor s individual circumstances and objectives. Morgan Stanley Smith Barney LLC offers insurance products in conjunc- Since life insurance and long term care insurance are medically underwritten, you should not cancel your current policy until your new policy is in force. A change to your current policy may incur charges, fees and costs. A and the period of time for which the surrender charges apply may increase with a new policy. You should consult with your own tax advisors regarding your potential tax liability on surrenders. tax or legal advice. This material was not intended or written to be used, and it cannot be used, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters. Securities-based Lending Risks: Borrowing against securities may not be suitable for everyone. You should be aware that securities-based loans involve a high degree of risk and that market conditions can magnify any potential for must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to not be entitled to choose the securities that will be sold. These actions may interrupt your long-term investment strategy and may result in adverse tax N.A., Morgan Stanley Private Bank, National Association, or Morgan Stanley Smith Barney LLC (collectively referred to as Morgan Stanley ) reserves the as a committed facility; (5) Morgan Stanley reserves the right to increase Morgan Stanley reserves the right to call your securities-based loan at any time and for any reason. Morgan Stanley Smith Barney LLC ( Morgan Stanley ) Morgan Stanley has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services. through Morgan Stanley are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, a bank and involve investment risks, including possible loss of principal amount invested. Morgan Stanley Home Loans are made by Morgan Stanley Private Bank, LLC. The loans referenced herein are made by Morgan Stanley Private Bank, National Association. A Morgan Stanley Smith Barney LLC investment relationship does not have to be established or maintained to obtain the products or services offered as part of the Morgan Stanley Home Loans program. All mortgage loans are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. Rates, terms and programs are subject to change without notice. Residential mortgage loans may not be available in all jurisdictions and are limited to U.S. citizens and permanent resident aliens only. Residential mortgage loans are not available in Guam, Puerto Rico and the Virgin Islands. Proceeds from mortgage loan transactions including initial draws and advances from HELOCs are not permitted to be used to purchase, trade or carry securities, repay margin debt or to make payments on any amounts owed under the Note or HELOC loan agreement. NY Tel: Nationwide Mortgage Licensing System California Department of Corporations Finance Lenders Law License No. 603H431. Georgia Residential Mortgage Licensee No Kansas Licensed Mortgage Company No. MC Massachusetts Mortgage Broker License No. MB5439. Montana Mortgage Broker License No Licensed by the New Hampshire Banking Department. Licensed by the New Jersey No. MB Rhode Island Licensed Loan Broker. Mortgage brokers may not make loans. Morgan Stanley Smith Barney LLC. Member SIPC Morgan Stanley Smith Barney LLC. Member SIPC /13