The Ernst Group at Morgan Stanley Smith Barney

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1 The Ernst Group at Morgan Stanley Smith Barney

2 330 Fellowship Road Suite 400, Mount Laurel, New Jersey / Main / Toll-Free / fax george.j.ernst@mssb.com

3 The Ernst Group at Morgan Stanley Smith Barney We provide comprehensive wealth management advice to help you connect the pieces of your financial life. By keeping it simple, we create a thorough, integrated life plan. Smart planning starts with asking the right questions, as well as understanding your financial needs and goals. Only then will we provide comprehensive wealth management advice and help connect all the pieces of your financial life into a cohesive plan for the future. We will work with you to develop a plan, implement that plan and assist you in continuing to objectively follow that plan. We will execute this while using a high level of professional service and integrity. We enjoy serving our clients and believe that two priceless commodities measure the success of our relationships: trust and loyalty. By listening attentively to your financial needs and consistently delivering the breadth of advice to help address those needs, we believe our relationship will be strengthened over the long term. This approach has positioned us in many of our clients inner circles of primary advisors. The Ernst Group 3

4 Meet the Professionals Left to right: Cynthia Evans, Diane Giandrea, Nancy Serabo, George J. Ernst Jr, Tracy Szymborski 4 Morgan Stanley Smith Barney

5 George J. Ernst, Jr. Senior Vice President Wealth Management Investment Management Consultant Financial Advisor For over a decade George has focused on meeting the unique financial needs of his clients. His focus has always been on analyzing each client s unique situation, and providing personalized strategies to assist clients in reaching their goals while addressing all of their financial concerns. He provides sound, unbiased advice and is known for his genuine concern for clients-a strong asset in a business that requires a critical equilibrium of initiative and discipline. Integrity and a strong emphasis on client service are vital to George s business. George, and his entire team, work closely with his clients other trusted advisors, including attorneys and accountants, to ensure a cohesive, comprehensive approach. George began his career at Morgan Stanley Dean Witter in 1997 after receiving a B.F.A. in 1996 from Syracuse University. He rose quickly through the ranks while building a successful practice. In 2006, George completed his Accredited Investment Fiduciary (AIF) designation through the Center for Fiduciary Studies in association with the University of Pittsburgh Joseph M. Katz Graduate School of Business. George was ranked by NABCAP and listed in the Philadelphia Business Journal as a 2010 Premier Advisor in the Philadelphia Region. He is known for his high standard of knowledge and professionalism and is viewed by his clients as not only an advisor but also a friend. george.j.ernst@mssb.com The Ernst Group 5

6 Tracy Szymborski Senior Registered Client Service Associate Cynthia Evans Client Service Associate Diane Giandrea Client Service Associate Tracy has been working in the financial services industry for over twenty years. She serves as the Ernst Group s Senior Registered Client Service Associate. She is responsible for the day to day administrative and operational tasks. Tracy holds the Series 7 and Series 63 licenses. Tracy enjoys reading on her kindle. tracy.szymborski@mssb.com Cynthia, who joined the Ernst Group in March 2010, has more than 13 years of experience managing teams and business processes with a strong background in business development, management and marketing. From running her own health and fitness company to holding key management positions at major medical management companies, she has developed advance customer service and organizational skills. Cynthia leverages a natural ability to communicate well with diverse audiences to cultivate new relationships for the Ernst Group. cynthia.d.evans@mssb.com Diane s many years of customer service experience dovetail nicely with the Ernst Group s idea of always putting clients first. She began her career in the banking and customer service industry in 1985 and has held a number of positions in banking and financial services. She took a hiatus to start her family with her husband, Rich and subsequently joined the Ernst Group as a Client Service Associate in Her current role allows her to work hands on with the group s senior advisor, George Ernst Jr., in developing new relationships with a financial planning focus. diane.e.giandrea@mssb.com Morgan Stanley Smith Barney

7 Nancy Serabo Client Service Associate Nancy assists the Ernst Group in developing and executing marketing strategies. Nancy received a degree from Camden County Vocational School. She began her career in the administrative services industry in 1973 and joined the Ernst Group in Nancy resides in Pennsauken, NJ. nancy.serabo@mssb.com

8 The Way We Do Business We believe that helping clients achieve their financial goals begins with completely understanding their needs. Only then we can provide the comprehensive guidance that seeks to answer their most fundamental question: Can I attain my goals? To address questions like these, we take a holistic approach to helping them grow and manage their wealth, which means that we focus on all aspects of their financial lives, not just parts of it. We believe that our clients deserve Financial Advisors who share their vision, earn their trust and work diligently to uncover myriad possible strategies that help them address their aspirations and create a legacy for future generations. Step 1: Discovery We will ask many questions to try to capture what matters most to you and fully understand what you want to accomplish with your wealth. We will talk about you, the kind of lifestyle you enjoy, what worries you and what you are passionate about. Our conversations will also explore your values, key relationships, total assets, preferred manner of communication, as well as the other professional advisors with whom you work. That way, we help you to connect all the facets to help ensure your financial situation dovetails effectively. Step 2: Analysis and Recommendation Based on your feedback, we will analyze your personal and financial information, including liabilities; we will also assess risks and identify potential threats to your financial health. At this meeting, we will present you with a comprehensive plan that addresses your income and cash flow needs, borrowing, asset protection, retirement planning, wealth transfer, philanthropy and other areas beyond investment management. We will take additional time to review with you all that was discussed, thus helping you to be comfortable with the proposed investment strategies and service providers before implementing your wealth plan. Step 3: Implementation After presenting you with a detailed wealth plan, we work closely with you to implement your plan with an objective approach, paying close special attention to how the various parts of your plan affect, enhance and integrate with each other. Wherever appropriate, we will enlist added in-depth advice on issues we have identified in the fields, such as family-dynamics, estate planning, lending, tax planning and more. Step 4: Monitoring As you would expect, we believe that ongoing communication is a vital component of our relationship. We are committed to keeping abreast of your changing financial needs; as such, your financial documents become the foundation of ongoing review. As an example, if your circumstances have changed we will make certain that your assets are positioned accordingly. If necessary, we will recommend adjustments to your strategy and address any changes in your objectives. 8 Morgan Stanley Smith Barney

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10 Our Commitment We Believe: Our clients are the foundation of our practice In making a meaningful difference in every client s life In guiding clients to make well-informed financial decisions In helping clients to attain their goals In striving to transcend client expectations 10 Morgan Stanley Smith Barney

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12 Our Wealth Management Resources Whether you are focused on accumulating assets, preserving capital, generating income or transferring wealth to loved ones, count on us to help you develop an integrated financial plan for life s most important events. Our comprehensive approach to wealth management centers on creating a plan that addresses what is most important to you. Investment Consulting and Management Customized asset-allocation advice, extensive investment advisor research, automatic rebalancing, ongoing monitoring and performance reporting Investment Advisory Services: delivers customized advice and objective investment recommendations by tapping the extensive work of Morgan Stanley Smith Barney and a variety of key platforms Investment Committee: team of investment professionals that develops asset-allocation recommendations and provides capital-markets analysis Investment Advisor Research: a team of analysts that researches and evaluates hundreds of separate-account, mutual-fund and alternative-investment managers Fiduciary Services: extensive evaluation and published research reports on hundreds of separately managed account products TRAK : ongoing mutual-fund research and analysis, professional assetallocation recommendations, detailed quarterly performance reviews Portfolio Management Group: equity, balanced and fixed income portfolios tailored and managed by Financial Advisor; active portfolio management; ongoing monitoring and performance reporting Smith Barney Advisor: fee-based, non-discretionary investment-advisory services through Smith Barney Advisor; ongoing asset-allocation monitoring Alternative Investments: a diverse range of alternative strategies such as private equity, hedge funds, private real estate, fixed income alternatives, exchange funds and managed futures Unit Investment Trusts: professionally selected equity and fixed income investments adhering to a buy and hold strategy. Trusts can be structured along quantitative, research or thematic design as well as fixed income alternatives Wealth Planning Income and cash-flow planning, strategic borrowing, asset protection, wealth transfer, investment analytics Retirement Planning: income and cash flow, 401(k) plans, IRA rollovers Education Planning: educationsavings accounts, 529 college-savings plans, custodial accounts Estate Planning: trust structures, lifetime gifts, insurance planning, charitable giving FMA (Financial Management AccountSM): simplified cash management, Automatic Funds Transfer SM, online bill payment, FMA MasterCard Debit card with a free rewards program, account distributions, tax reporting 12 Morgan Stanley Smith Barney

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14 Wealth Preservation and Transfer Our definition of wealth management is understanding you better and gaining deeper insight into your and your family s needs, goals and values. By looking at your whole financial picture, we can help you develop strategies to assist you in protecting, transferring, and preserving your assets. Wealth Preservation And Transfer Can help protect wealth from creditors and taxes; transfer assets, business holdings and values to future generations Investment Advice: diversification and asset allocation; downside protection and liquidity strategies for concentrated positions Insurance: income protection; wealth transfer strategies; businesscontinuity strategies; life, disability and long-termcare policies Trust Services: administration, management and distribution of trust assets Philanthropic Services: integrating philanthropy into wealth planning; donor-advised funds, charitable trusts and family foundations Borrowing Restructure debt, improve cash flow, facilitate estate planning, pledge collateral to help family members, access capital to operate and expand a business, finance a home Home Finance: fixed- and adjustablerate mortgages for first and second homes, as well as borrowing alternatives that can take advantage of existing home equity Securities Backed Loans: leverage the value of an investment portfolio to cover just about any personal or business expense big-ticket items, tax obligations, home or business expansion while keeping a long-term strategy intact Commercial Banking: credit and financing for businesses, along with real estate, cash management and treasury service Business Owner Services Business banking and insurance services, working and growth capital, diversification of personal wealth, capitalstructure and exit strategies Capital Strategies Group: investment-banking services for closely held and family-owned businesses; services include exit strategies and liquidity solutions, mergers and acquisitions (primarily sell-side), partial exits including recapitalizations; employee stock ownership plans; and capital solutions Borrowing: equipment acquisition and leasing, real estate acquisition and financing, franchise financing Cash Management: deposit/banking services, cash concentration and sweep accounts, lockbox and receivables control, payment strategies, controlled disbursement 14 Morgan Stanley Smith Barney

15 Retirement Plans: profit-sharing plans, 401(k) plans, savings incentive match plan for employees (SIMPLE IRA), defined-benefit plans, non-qualified deferred compensation plans, employee stock ownership plans Business-Succession Planning: buy-sell agreements, family limited partnerships, limited liability companies, grantor-retained annuity trusts and other types of wealth transfer Insurance: business-owner life insurance, disability and long-term care insurance, key-person insurance, executive benefits, insurance to fund buy-sell agreements, insurance to fund deferred compensation plans

16 Risk Management The ups and downs of the markets is just one kind of risk but so is not protecting my assets and my family. How do I protect what I care about most? Retirement When I retire, it will affect just about everything that matters: my lifestyle, my company, my family. Is there a way to plan for retirement that takes it all into account? Integrated Planning Decisions about both assets and liabilities need to be made in the framework of important life goals. What steps are also the most tax efficient? How can a strategic approach to banking and lending simplify my financial life and maximize the value of what I own? Education Funding Will I be able to pay for a good education for my children and my grandchildren? Business Strategies How do I manage my personal wealth with so much tied up in my company? Investment Management I have so many goals and priorities. How can one investment strategy balance them all? Liquidity I can predict some expenses, but others I know I can t. How can I plan to have the cash I need? You Benefit From a Profound Understanding of the Full Range of Wealth Management Needs Estate Planning Making sure my estate goes to the people and organizations I care about is a priority. How do I transform my assets into a legacy? Charitable Pursuits The charities I support are like extended family. How do I maximize the good I can accomplish?

17 A CULTURE of EXCELLENCE OvER ThE years, you have made 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. Investors who choose Morgan Stanley Smith Barney often tell us that their reasoning is simple. They choose a Financial Advisor and a firm that mirrors the values propelling their own success: a commitment to perform at the highest level for their clients, with no shortcuts, compromises or excuses. a strong, steady force in a changing industry CEO and senior team with deep wealth management experience 130 years of combined experience 900 global locations 18,000 financial advisors 7 million client accounts $1.5 trillion client assets Unparalleled e xperience. Drawing on many years of experience, Morgan Stanley Smith Barney understands the importance of shaping relationships that reflect client needs, preferences and aspirations. Our firm and Financial Advisors have an in-depth understanding of virtually all the challenges, goals, preferences, styles and strategies that distinguish wealthy investors. Additionally, as a truly global financial institution, we have an equally acute knowledge of financial opportunities and the potential risks. This combination positions us to develop, structure and execute solutions for your most important financial needs, from accumulating wealth to investing for income, from solidifying retirement security to devising a distribution approach that meets your lifestyle and legacy goals. investment insight without limits. As a client, you have access to the strategic and tactical views of some of the world s most seasoned and respected investment professionals. The members of our Global Investment Committee develop strategies that guide the management of advisory accounts and help to inform the decisions of clients across Morgan Stanley Smith Barney. The team is currently supported by the work of 350 analysts at two of the world s largest investment banks, Morgan Stanley and Citi, who cover key geographic and economic sectors, as well as 3,000 individual equity securities. You also benefit from a premier trading and execution platform. Think of our 225 capital markets professionals as experienced, highly responsive and knowledgeable partners. performance that meets your measure. Among the most important skills of our Financial Advisors is the ability to listen: to thoroughly understand your financial needs and then align the resources to meet them. Your Financial Advisor can help you evaluate immediate concerns and plan for long-term goals, be a sounding board for your investment ideas, assist you in developing and executing a strategy that is precisely your own and help deliver performance results that meet your needs. Your Financial Advisor is your advocate within our firm, an intelligent editor who selects and aligns the many capabilities of Morgan Stanley Smith Barney for you, delivering the right resources to you in the way that is most appropriate for how you invest and what you want to achieve. one of the world s strongest investment organizations stands Behind your financial advisor Financial Advisors have access to top-flight research from both Morgan Stanley and Citi. Combined, they analyze and track the progress of more than 3,000 companies all over the world. Please read important disclosures on the back cover of this brochure Morgan Stanley SMith Barney 17

18 Awards Publications George was nominated by NABCAP and listed in the Philadelphia Business Journal as a 2010 Premier Advisor in the Philadelphia Region. George was featured on CBS3 News as one of Philly s Top Financial Advisors The November 2010 issue of Philadelphia Business Journal recognized George as one of Philadelphia s Top Financial Advisors. Those identified were comprehensively evaluated and validated on twenty categories within a financial advisory practice. 18 Morgan Stanley Smith Barney

19 Morgan Stanley Smith Barney strives to offer clients the finest in financial thinking, products and execution to help them meet their individual needs and achieve their personal financial goals. When we work together, you ll benefit from personalized advice, objective guidance and dedication to your success as an investor. With access to Morgan Stanley Smith Barney s renowned global resources and investment opportunities, we can help you develop and maintain an optimal investment strategy. Our wealth management strategy will address key areas of your financial life beyond traditional investments and may incorporate diverse recommendations for building and protecting your wealth.

20 Morgan Stanley Smith Barney offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please contact us to understand these differences. Morgan Stanley Smith Barney LLC ( Morgan Stanley Smith Barney ) is a registered broker-dealer, not a bank. Where appropriate, Morgan Stanley Smith Barney has entered into arrangements with banks and other third parties to assist in offering certain banking-related products and services. Unless otherwise specifically disclosed to you in writing, investments and services offered through Morgan Stanley Smith Barney, member SIPC, are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, banks and involve investment risks, including possible loss of principal amount invested. Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Smith Barney Financial Advisors do not provide tax or legal advice. This material was not intended or written to 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 Morgan Stanley Smith Barney LLC. Member SIPC /11