The Pelican Bay Group at Morgan Stanley

Transcription

1 The Pelican Bay Group at Morgan Stanley

2 2 Morgan Stanley

3 Experience Is Everything Some asset managers focus solely on numbers, neglecting to remember that their clients are human beings with needs that involve much more than earning acceptable investment returns. The Pelican Bay Group at Morgan Stanley manages $3 billion as of September 30, 2017, for not only affluent individuals and their families, but also for corporations, endowments and other institutions. We are acutely aware, however, that investing is only one aspect of the experience important to our clients. People come to us for guidance in retiring, leaving a legacy to loved ones or perhaps caring for an aging parent or exiting a successful business. They rely on us for solutions that address investment issues, certainly, but also for recommendations that encompass such disciplines as wealth transfer, liabilities management and business succession planning. They remain with us, however, because we have the experience to understand what they seek from a not just performance, but also a total experience that simplifies their financial lives and makes a major difference in their ability to reach critical goals. The Pelican Bay Group 3

4 Meet the professionals 4 Morgan Stanley

5 meet the professionals Who Is The Pelican Bay Group? Our team of financial professionals is national in scope with s stationed in strategic locations across the country. As part of Morgan Stanley, one of the world s most respected financial services firms, we offer access to extensive resources that can prove instrumental in helping you meet even your most complex financial challenges. Our team members include: From Bottom Left: Anthony Gallea, Paul Hanrahan, Jennifer Hartmann, Stephen Stribling, Richard DiMarzo Back Row: Jeanine Delgadillo, Mark Ryan, William VandenBrul, Jeanette Cox, Shelley Ford, Emily Sax, Cynthia Walker-Laroche, Rebecca Michel, Teresa Bustamante, Russell Smith, Marcia Bonnet, Jeffrey Praino, Lori Alberts, Sue Smith, Tara Farrell The Pelican Bay Group 5

6 Meet the professionals Anthony Gallea Managing Director Wealth Management Senior Portfolio Management Director Founder of The Pelican Bay Group at Morgan Stanley and Senior Portfolio Management Director at Morgan Stanley s Portfolio Management Group, Tony Gallea and his colleagues oversee the investment management of over $3 billion for individual and institutional clients, as of September 30, This includes $1.4 billion in covered call writing strategies for individual and institutional clients. Mr. Gallea has received numerous industry awards and recognition, and has appeared on CNBC, CNN, Bloomberg Television, National Public Radio, USA Network and AP Radio Network. He has been interviewed by The Wall Street Journal and was the subject of a full-page interview in The New York Times. Tony is a founding board member and the first president of the Portfolio Management Institute. Tony is also an accomplished author in the investment field with four books to his credit: The Lump Sum Handbook, Contrarian Investing, The Lump Sum Advisor, and Bulls Make Money, Bears Make Money, Pigs Get Slaughtered. A native of Rochester, New York he now resides in Palm Beach Gardens, Florida and Hendersonville, North Carolina with his wife Barbara. A graduate of the University of Rochester (BA) and Colorado State University (MBA), he is a life member of American Mensa and served as an adjunct professor at St John Fisher s Bittner School of Business. In addition, Mr. Gallea serves as an arbitrator for FINRA, the Financial Industry Regulatory Authority, in its Dispute Resolution Program. In his spare time, Mr. Gallea is a competitive chess player and an avid golfer. A supporting member of the Cato Institute, as well as the Ludwig von Mises Institute, Mr. Gallea has been with Morgan Stanley since NMLS# Richard DiMarzo, CPM Senior Vice President Senior Portfolio Management Director Certified Portfolio Manager, Columbia University Richard DiMarzo s practice at Morgan Stanley focuses on asset management and planning for high net worth individuals and high net worth multigenerational families. His team responsibilities include discretionary portfolio management of fixed income investments, as well as asset management and marketing to property casualty mutual insurance companies. Richard is Chairperson of Judy s Fund: Hope for Cancer Survivors. The fund was established in 2012 as a tribute to Judy, his late wife, who passed away from cancer in The fund s dual purpose is to raise funds for the Judy DiMarzo Cancer Survivorship Program at the Wilmot Cancer Institute which addresses the physical, emotional, social, spiritual and financial issues as a patient makes a transition from treatment to care. The fund also seeks to create awareness for survivorship and the growing number of cancer survivors. Richard is also the former chairperson of the board of the James P. Wilmot Cancer Institute. Currently, he is an honorary board member of the Wilmot Cancer Center. Richard is also a member of the George Eastman Circle and a founding member of the Willow Society. 6 Morgan Stanley

7 meet the professionals Richard is former chairman of the board of Colgate Rochester Crozer Divinity School and served as chair of the board s Institutional Advancement and Finance committees. He was also the prior chair of Institutional Advancement and Property and Finance. Richard was awarded the 2015 Community Leadership award by Morgan Stanley. Richard is a prior board member of PMI (Portfolio Management Institute) and a 10-year associate member of PAMIC (Pennsylvania Association of Mutual Insurance Companies). He actively writes for the PAMIC Pulse, a monthly publication for Pennsylvania Mutual Insurance companies. Richard began his career in 1986 and has been with Morgan Stanley for 28 years. His two sons, Josh and Brian, both work in the financial service industry. He is a graduate of Colgate University in Hamilton, New York, where he earned his degree in philosophy and religion with a concentration in ethics. He also received his Certified Portfolio Manager designation from Columbia University. NMLS# Jennifer D. Hartmann, CIMA Managing Director Senior Institutional Consultant Family Wealth Advisor Throughout her more than 20-year career, Jennifer Hartmann has advised institutions on asset allocation and investment manager selection, traded fixed income securities, managed a branch office and helped dozens of high net worth clients create and implement comprehensive wealth management strategies. Jennifer began her financial services career while still in college at the University of Pittsburgh. Several years later, she was managing the Pittsford, New York, branch of a Morgan Stanley predecessor firm. Today, she interacts with a wide variety of Pelican Bay Group clients, including foundations, endowments, banks, trust companies and high net worth families. Jennifer also works closely with other Morgan Stanley s who seek out The Pelican Bay Group for our investment management capabilities. She takes pride in the fact that we now maintain strategic relationships with more than 500 s. A frequent speaker at financial services industry conferences, Jennifer serves as Co-Chairperson of the Morgan Stanley Consulting Group Wealth Advisory Group. She is a former Co-Chair of the Morgan Stanley Directors Advisory Group and an active member of the firm s Impact Investing Committee, as well as the Portfolio Management Institute and the Economics Club of New York. In addition to the B.A. in economics she earned at Pitt, Jennifer received an MBA from University of Massachusetts and Certified Investment Management Analyst certification from the Wharton School at the University of Pennsylvania. She resides in New York and is the proud mother of a newly adopted son. NMLS# The Pelican Bay Group 7

8 Meet the professionals Stephen Stribling, CPM Executive Director International Client Advisor Senior Portfolio Management Director Family Wealth Director Stephen Stribling works with Pelican Bay Group clients in a number of critical capacities: He manages our U.S. and International Opportunities portfolios. As an International Client Advisor, he serves the complex needs of non-u.s. investors for the team and also provides advice on wealth transfer, liabilities management and business succession planning for high net worth individuals, their attorneys, accountants and other advisors. Stephen is a graduate of Indiana University with a B.A. in finance. He is one of a limited number of Morgan Stanley s to receive the International Client Advisor designation. Stephen is a Family Wealth Director; this designation is held by fewer than three percent of Morgan Stanley s as of August Stephen has earned a number of industry accolades. In 2015, he was the recipient of the Bill Eager award from the Portfolio Management Institute, where he served as both president and board member. He also completed a rigorous course of study at Columbia University that earned him the designation of Certified Por t folio Ma na ger. Stephen volunteers with Habitat for Humanity and is an active supporter of the organization. He and his wife have two grown children and reside in Denver, Colorado, and Maui, Hawaii. NMLS#: Paul Hanrahan Senior Vice President Professional Alliance Group Director Senior Portfolio Management Director A former branch manager with a leading financial services firm, Paul Hanrahan brings more than 20 years of experience to the service of our clients. He joined The Pelican Bay Group in 1999 and works primarily with business owners and other high net worth individuals and their families. In addition, he advises a number of foundations, endowments, corporate pension plans and other institutional clients. Paul plays a key role in our client acquisition and retention efforts, helping clients create and implement personalized financial plans that encompass every aspect of their financial lives. He has earned several prestigious Morgan Stanley designations, including Retirement Plan Consultant and Financial Planning Specialist. As a Professional Alliance Group Director, he collaborates with attorneys, accountants, business brokers and other third-party centers of influence to identify and serve clients with especially complex financial needs. A graduate of Siena College with a B.A. in sociology, Paul gives back to the community through his involvement with the James P. Wilmot Cancer Institute. He has served on the board of not only that organization, but its affiliate, the Judy DiMarzo Survivorship Clinic. Paul resides in Brighton, New York, with his wife and four children. NMLS#: Shelley Ford Shelley Ford brings a keen understanding of the entrepreneurial spirit to the clients she serves. Before joining Morgan Stanley in 2011, she spent 15 years helping startup and established businesses develop sound business and marketing plans, execute those plans effectively, and raise money through investors, licensing fees and other strategies. With The Pelican Bay Group, Shelley works closely with business owners to help them prepare for mergers, acquisitions and other liquidity events. She also advises them on cash management, 401(k) plan management and other issues that contribute to their corporate success. For the past several years, Shelley has focused on the unique challenges faced by women entrepreneurs and executives. She created the Executive Women s Network of Colorado that provides its growing membership with a greater understanding of the financial options available to them. Active in the Denver community where she has lived her entire life, Shelley helps not-for-profits refine their investment and spending policies, and manage cash and other assets in line with their missions. She has served on the board of directors for Peripheral Neuropathy Association of Denver and currently sits on the board for Colorado Public Broadcasting. In addition, she is a Rocky Mountain Micro Finance Coach and a supporter of Cocktails for a Cause, a women s group committed to supporting worthy not-forprofits in the Denver area. Shelley earned a B.A. in economics from the University of Colorado and resides in Denver with her husband (a New Zealand native) and two children. NMLS#: Morgan Stanley

9 meet the professionals Teresa Bustamante Senior Vice President Senor Investment Management Consultant Teresa Bustamante is one of The Pelican Bay Group s newer members, having joined the team in However, she is a long-time Morgan Stanley Financial Advisor, who has worked closely with The Pelican Bay Group over her more than 20-year tenure with the firm. Teresa joined Morgan Stanley after serving as a corporate controller and vice president of finance with several multinational firms. She takes a holistic approach to wealth management that encompasses not only investing, but liability management, estate planning strategies and other complex financial disciplines. As a Senior Investment Management Consultant, she analyzes third-party managers and recommends only those who meet her rigorous standards of risk-adjusted performance and organizational stability. In fact, Teresa selected The Pelican Bay Group s covered call writing and global opportunities portfolios for a number of her clients before she actually joined the team. A graduate of the University of Texas at El Paso with a B.S. in accounting, Teresa has received numerous accolades throughout her career. She was selected by Morgan Stanley to attend two prestigious professional conferences sponsored by Barron s magazine, and she is a member of the Morgan Stanley Business Owner Executive Council, where she provides advice specifically tailored to the unique needs of business owners. A native Texan, Teresa is an active member of her local community. She supports scholarship and education programs sponsored by the El Paso Museum of Art and is deeply involved with art education for children. In addition, Teresa volunteers at local organizations that provide financial education for women. NMLS#: William VandenBrul Vice President With more than 25 years of financial services experience, Bill VandenBrul joined The Pelican Bay Group in He plays a key role in our financial planning efforts and provides our clients with the knowledgeable counsel they need to plan their estates, structure legal settlements, and help meet the often complex challenges that come with retirement. A native of Rochester, New York, Bill developed a fascination with the stock market at an early age. After graduating from the Rochester Institute of Technology with a B.S. in business administration, he joined a local bank, where he specialized in trusts and investments as well as working with corporate clients. Twelve years later, he followed his true passion and became a financial advisor. Throughout his career, Bill has supported a number of local organizations, serving as treasurer for GEVA Theater Center and the Rochester Eye and Human Parts Bank. Currently, he sits on both the financial and pastoral committees at St. Thomas More Church. Bill and his wife, Maria, have two children and reside in Rochester. The Pelican Bay Group 9

10 Meet the professionals Jeffrey Praino, CFP Certified Divorce Financial Analyst Financial Planning Specialist Jeffrey Praino began his career with Morgan Stanley in He strives to lead clients through life s transitions and to bridge the gap between financial challenges and aspirations. He takes pride in working with clients on strategies to support their financial and life goals. Prior to joining Morgan Stanley, Jeff was a senior financial analyst and assistant vice president at Citizens Bank. He supported the retail business in financial modeling, budgeting, forecasting and financial planning. Jeff worked as an intern in 1998 and 1999 with The Pelican Bay Group and recently joined the team. He earned a bachelor s degree in economics at St. Lawrence University and Master of Business Administration from Clarkson University School of Business. He has attained the CERTIFIED FINANCIAL PLANNER, Certified Divorce Financial Analyst and Financial Planning Specialist designations. Jeff is also licensed in life, annuity and longterm care insurance. As an active member of the Financial Planning Association, he completed the University of California FPA Residency Program. In addition, Jeff is a member of the Institute for Divorce Financial Analysts and the Canandaigua, New York, Rotary Club. The firm named Jeff to its Pacesetter s Club, a global recognition program for Financial Advisors who, within their first five years, demonstrate the highest professional standards and first-class client service. Jeff resides in Victor, New York, with his wife and son. NMLS#: Marcia Bonnet, CRPC Associate Vice President Financial Planning Specialist Family Wealth Advisor Marcia Bonnet has been in the financial services industry for 25 years, serving 10 of those years in management. She started in the industry with our firm in In 1994, as a sales assistant, she attained her Series 7 securities registration. Marcia attained her principal securities Series 8 registration in 1998 after moving to Sheridan, Wyoming, from Billings, Montana, to assist in opening and developing a new office for Smith Barney, now Morgan Stanley, where she served as Operations Manager, Vice President Investments, until December 2008 when she became a. Marcia has attained the Financial Planning Specialist, Family Wealth Advisor and Chartered Retirement Planning Counselor SM designations. Marcia directs the team s business process, which includes working with individuals and families by providing comprehensive financial planning to each of our clients along with exemplary customer service. In applying the team s goals-based wealth management process, The Pelican Bay Group is able to assist clients with attaining a holistic view and better understanding of their financial lives. Our group takes a disciplined, diligent approach to delivering a high level of service and a standard of care that takes into account an individual s and/ or family s best interests and full financial picture. This approach provides our team the opportunity to assist our clients in building a lasting legacy for the ones they love and the things they care about. Marcia and her husband, Sean, have been married for 15 years. They have three children, a daughter and twin sons, and two black labs. They like spending their time with family and friends while enjoying their home, the outdoors and various sporting activities and events. NMLS#: Morgan Stanley

11 meet the professionals Mark S. Ryan, CFP First Vice President Portfolio Management Director Mark Ryan joined Morgan Stanley in 2009 and was recently invited to join The Pelican Bay Group. He has held the CERTIFIED FINANCIAL PLANNER designation for over 25 years and takes pride in developing financial plans to assist clients that have concerns regarding retirement and estate planning. Many long-term clients are reaching retirement age and are now benefiting from the planning done years ago that has allowed them to reach their goals and objectives. Mark is also a Portfolio Management Director at Morgan Stanley. This designation, along with over 30 years of experience, has proven to be helpful in providing objective investment guidance for his clients. Recognizing that there is no silver bullet or one size fits all solution, Mark s focus is on understanding each client s unique vision, goals and preferences and aligning advice and portfolio structure in a custom-tailored manner to help his clients achieve financial peace of mind. After a 15-year career in retail, Mark decided that his attention to detail and numbers would be a perfect fit to embark on a career as a financial advisor and took the necessary steps to obtain his securities licenses. He began his new career on October 19, Mark practices yoga on a regular basis and focuses on good nutrition. He is a Registered Yoga Teacher through the Yoga Alliance, and promotes a healthy life style to many of his friends and clients that have similar interests. Mark lives in Boca Raton, Florida, and has been a lifelong Palm Beach County resident. His son, Justin, and his family reside in Houston, Texas. NMLS#: Cynthia Walker Laroche First Vice President Financial Planner Cindy Walker-Laroche s practice at Morgan Stanley focuses on wealth creation, financial planning and customized portfolio construction. Her responsibilities include building portfolios in the fixed income bond market with a focus on municipal bond strategies. She also reviews and recommends institutional money managers that support a wealth strategy in the equity markets with concentration on various asset classes. This serves as a complement to the other team members and their expertise. Her prior background includes a B.S. in education from State University of New York at Geneseo. She spent years in education at the university, creating an environment for training upcoming teachers while writing programs for highly gifted children. After moving to Florida, Cindy followed her training career as a corporate training and development advisor for many south Florida corporations before migrating to the financial services business in Cindy began her investment adviser career with E.F. Hutton in As of this March, she has celebrated 30 years in the financial industry and Cindy has been with Morgan Stanley since Her passion in this business is to guide individuals through a goals-based process to achieve their lifelong dreams. Cindy prides herself by being attentive to the needs of wealthy families and the transfer of wealth to children and grandchildren. This is the driving force for investment decisions. Charitably inclined, Cindy has dedicated the last 15 years to serving as a consultant, donor and promoter to the Habilitation Center for the Handicapped in Boca Raton, Florida. The Hab Center is committed to providing vocational training, socialization skills, daily living skills, self-advocacy and health and wellness to mentally challenged adults. Cindy is a native of Niagara Falls, New York, but has lived in South Florida for 40 years. She resides with her husband, Ron, and enjoys gardening, cooking and hanging out with her poodle-mix, Jakey. NMLS#: The Pelican Bay Group 11

12 Meet the professionals Jeanine Delgadillo Before joining Morgan Stanley in 2016, Jeanine Delgadillo served as an assistant vice president in Citigroup s Microfinance department in Miami, Florida. There, she worked on highly visible projects with city and county governments to expand financial literacy by providing access to financial products and services to individuals. Prior to her role at Citi, she spent eight years in the entertainment industry in Hollywood. During that time, Jeanine worked at the William Morris Agency, where she assisted in representing their A-list clients in various commercial endorsement and other financial transactions. She also gained a grounding in foreign film sales, distribution and production. Jeanine is Series 7 and 66 Security licensed and earned her B.S. in business administration from the University of Southern California. A California native, Jeanine has made her home in Florida and is bicultural and bilingual in Spanish. In January 2017, Jeanine joined The Pelican Bay Group, representing the group from the Morgan Stanley office in Boca Raton. NMLS#: Russell Smith, CFA First Vice President Chartered Financial Analyst Director of Business Strategy Russell Smith s extensive background in equity trading and analysis makes him an invaluable member of The Pelican Bay Group. Responsible for executing the team s equities and options block trades, Russell is often called upon by the team s s to discuss portfolio strategies with clients and to explain the group s rationale for building and/or liquidating positions. Russell joined a Morgan Stanley predecessor firm in 2005 after serving as a fixed income and equity trader at several banks and investment management organizations. He received an MBA from the Rochester Institute of Technology and a B.S. in finance from Ithaca College. Subsequently, he earned the prestigious Chartered Financial Analyst designation and contributes substantially to the team s securities analysis efforts. A native of Annapolis, Maryland, Russell coaches his children s lacrosse teams and is already instilling them with his passion for mountain bike racing. He and his family reside in Victor, New York. Rebecca Michel CPM Vice President Certified Portfolio Manager Group Director Rebecca Michel began her career with the firm in 2010 and has completed the Series 3, 7 and Series 63 examinations. Becky has been in the financial services industry for 18 years. She is a graduate of the Rochester Institute of Technology, where she earned her Bachelor of Science degree in accounting. She has also received her designation as Certified Portfolio Manager from Columbia University. Becky is responsible for overseeing all of the group s administrative and operational activities. She independently helps to develop, communicate and implement procedures to best meet the logistical and administrative needs of clients and team members. Becky serves as a liaison between s, support staff and branch management, keeping all apprised of the status of projects and proactively communicating any follow-up issues and next steps. Becky also coordinates and manages the support staff functions of the group. In her free time, Becky enjoys spending time with her husband and two sons. She competes in sprint triathlons, completed the 2012 Bank of America Chicago Marathon, the 2013 NYC Marathon and the 2017 Marine Corps Marathon. 12 Morgan Stanley

13 Jeanette Cox Assistant Vice President Wealth Management Associate Jeanette Cox joined Morgan Stanley and its predecessors in 1997, and has achieved her Series 7 and Series 66 licenses. She is a Wealth Management Associate, which reflects her ability to provide the proficient handling of all client administrative needs, including trade executions while providing a high level of service to all clients. In addition, she also works with a number of client service associates within Morgan Stanley, helping them to understand the responsibilities of servicing investment portfolios for individuals, corporations and trusts both internationally and domestically. Jeanette is committed to achieving continued professional development. She is constantly adding to her knowledge, depth and breadth of her experience within the financial industry. Over the years, Jeanette has become an expert in the firm s operational systems for the benefit of our clients. She is involved in new hire training on Morgan Stanley managed account platforms, within the Complex and was a member of the National Service Advisory Council. Jeanette is also trained to assist with Consulting Group technical analysis. Jeanette was born and raised in Denver, Colorado. Her ties to Denver run deep with her large extended family. She is a mother of three young children, who keep her extremely busy in her personal time. She is very involved in their education and extracurricular activities. Jeanette and her husband, Donavan, enjoy family time, traveling and exploring with their little ones. The Pelican Bay Group 13

14 our ProceSS How We Work With Clients We engage in comprehensive financial planning that considers both sides of your personal balance sheet and every aspect of your finances. Specifically, you can expect us to collaborate with you as follows: 1. Discovery Before we make any recommendations, we take the time to understand who you are as a person, as well as an investor, and what you really want your wealth to achieve. Our discussions will focus on your current finances and future objectives, but they will also cover your values, challenges that you believe might be standing in your way and any other circumstances that might assist us in developing your customized plan. 2. Formulation Based on your input, we develop a personalized wealth management plan designed to help you meet the goals we ve identified. These recommendations may encompass such varied disciplines as retirement planning, tax minimization and wealth transfer. We also create an asset allocation for every goal so that you have a better chance of reaching each of them within your time frame and without excessive risk. 3. Implementation After presenting your personalized plan, we work closely with you to bring it to life. That may entail additional consultation with Morgan Stanley professionals who specialize in estate planning, lending strategies and other disciplines relevant to your situation. And, it will also involve the development of an investment strategy to meet the criteria established in the Discovery phase of our process. Anthony Gallea, Richard DiMarzo, Jennifer Hartmann, Paul Hanrahan and Stephen Stribling have all earned Morgan Stanley s prestigious Senior Portfolio Manager designation and spearhead our discretionary management approach. Each of these professionals has played a key role in developing our proprietary investment models that are designed to provide varying degrees of growth and/or income for investors with different risk tolerances. Often, we take a contrarian view when implementing these models, challenging the status quo, and back up our decisions with exhaustive research. For various asset classes and investment categories, we may seek third-party managers with a proven history of performance, consistency and organizational strength. All the strategies we employ on your behalf are customized to help meet your specific needs, goals, time frame and other circumstances. 4. Evaluation As you would expect, we believe that ongoing communication is a vital component of our business. We strive to keep abreast of your changing financial needs and provide viable solutions to meet them. This means constant monitoring of your plan and portfolio to make certain your assets are positioned to meet your changing circumstances, as well as fluctuating market conditions. 14 Morgan Stanley

15 1 Discovery 2 Formulation 3 Implementation 4 Evaluation The Pelican Bay Group 15

16 our Services Beyond Your Investment Portfolio At The Pelican Bay Group, we take pride in acting as our clients life advisors, not just their money managers. Our focus on comprehensive financial planning enables us to help you reach your most critical goals with strategies that work in concert, not at odds, with each other in such disciplines as: Professional Investment Management The Pelican Bay Group provides discretionary investment management to not only our clients, but the clients of hundreds of Morgan Stanley Financial Advisors. These professionals look to us for our capabilities in covered call writing and other investment strategies. In addition, many non-u.s. investors consult with us to diversify their portfolios and manage currency risk. Finally, Morgan Stanley has been an acknowledged industry leader in investment manager research, selection and monitoring for over 30 years. The firm s Consulting Group analyzes hundreds of investment advisory firms annually and ranks them by a variety of criteria, including risk-adjusted performance, style adherence, and organizational depth and stability. We will help you select one or more appropriate management organizations, if we believe you can benefit from a discretionary approach to specific asset classes or investment categories. Retirement Planning Whether you re entering your prime earning years or wondering if you can really afford to retire as planned, we can help you proceed with confidence to the future you envision for yourself. Our comprehensive strategy integrates investing with your pension, 401(k) or other plan to which you may have access at work. If you re self-employed, we ll help you determine whether your current plan is truly suitable for your needs. When you change jobs, we ll provide you with the advice you need to make the right decision about any retirement plan distribution for which you are eligible. Estate Planning and Trusts Our team can help you create a plan that is designed to decrease estate tax and ensures your assets will be used as you intend. Through the judicious use of trusts, beneficiary designation and lifetime giving programs, you can increase gifts to charitable organizations, reduce turmoil and family rifts, and provide for heirs who may not have the experience or inclination to manage assets. Business Services Your revenues are cyclical but your overhead is a constant. You have the opportunity to replenish inventory at rock-bottom terms, but you re strapped for cash. You re concerned about what happens to your business after you retire. We serve successful business owners with solutions that range from cash management and lending capabilities to retirement and business succession planning. In addition, we can help you attract and retain key employees through retirement plans designed to meet your employee demographics and cost requirements. Executive Services For many executives, the rewards of employer stock ownership are often accompanied by risks that include: Compliance with complex SEC insider trading regulations when conducting restricted or control securities transactions. A lack of diversification that can jeopardize the overall performance of the executive s portfolio. A hesitancy to liquidate employer stock positions due to perceived lack of loyalty or sizable income tax liability. 16 Morgan Stanley

17 The Pelican Bay Group helps executives understand these various risks and how to mitigate them successfully. Working closely with Morgan Stanley experts, we develop strategies to help you: Comply with SEC Rules 144, 145 and 701 when selling restricted, control or shelf-registered securities. Protect large positions against price decline while freeing up cash for portfolio diversification. Implement customized lending techniques that enable you to avoid liquidating positions and incurring substantial income tax liability. Lending Services Whether you re seeking to buy or remodel a home, finance a major acquisition or expand your business, we offer access to experienced bankers who can help you create and implement effective financing strategies. Capabilities include commercial lending, mortgage products, lines of credit and securities-based lending that may enable you to raise cash and generate cash flow without liquidating securities positions and incurring tax liability. The Pelican Bay Group 17

18 Gain From Our Experience Wealth is almost always accompanied by complexity, and in today s financial environment, that complexity is intensified. By working with The Pelican Bay Group, you gain the support of a valuable ally who can help you formulate and implement strategies to surmount even your most daunting financial challenges. To begin your client experience or to simply learn more, contact us at , or visit our website at Pittsford Victor Road Building 200, Suite 350 Pittsford, NY West 52nd Street 23rd Floor New York, NY North Oregon Street Mills Building, 9th Floor El Paso, TX North Military Trail Suite 300 Boca Raton, FL Market Street Suite 600 Denver, CO Morgan Stanley

19 The Pelican Bay Group 19

20 The investments listed may not be suitable for all investors. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment will depend upon an investor s individual circumstances and objectives. Tax laws are complex and subject to change. Morgan Stanley Smith Barney LLC ( Morgan Stanley ), its affiliates and Morgan Stanley s and Private Wealth Advisors do not provide tax or legal advice and are not fiduciaries (under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein except as otherwise agreed to in writing by Morgan Stanley. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a retirement plan or account, and (b) regarding any potential tax, ERISA and related consequences of any investments made under such plan or account. Important Risk Information for Securities-Based Lending: Borrowing against securities may not be suitable for everyone. You should be aware that there are risks associated with a securities-based loan, including possible margin calls on short notice, and that market conditions can magnify any potential for loss. You need to understand that: (1) Sufficient collateral 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 maintain account equity at required maintenance levels. You will 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 consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as Morgan Stanley ) reserves the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities-based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase your collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities-based loans at any time and for any reason. Morgan Stanley Smith Barney LLC is a registered broker-dealer, member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking-related products and services. Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED MAY LOSE VALUE NOT BANK GUARANTEED NOT A BANK DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. With the exception of the pledged-asset feature, an investment relationship with Morgan Stanley Smith Barney LLC does not have to be established or maintained to obtain the residential mortgage products offered by Morgan Stanley Private Bank, National Association. All residential mortgage loans/home equity lines of credit 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/ home equity lines of credit may not be available in all states; not available in Guam, Puerto Rico and the U.S. Virgin Islands. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. Morgan Stanley Private Bank, National Association is an Equal Housing Lender and member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. Nationwide Mortgage Licensing System Unique Identifier # The proceeds from a residential mortgage loan (including draws and advances from a home equity line of credit) are not permitted to be used to purchase, trade or carry eligible margin stock; repay margin debt that was used to purchase, trade or carry margin stock; or to make payments on any amounts owed under the note, loan agreement or loan security agreement; and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account. Private Bankers are employees of Morgan Stanley Private Bank, National Association, member FDIC. Express CreditLine ( ECL ) is a securities-based loan/line of credit product offered by Morgan Stanley Smith Barney LLC. All ECL loans/lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Smith Barney LLC. ECL loans/lines of credit may not be available in all locations. Rates, terms and programs are subject to change without notice. To be eligible for an ECL loan/line of credit, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the ECL loan/line of credit. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. The proceeds from an ECL loan/line of credit (including draws and other advances) may not be used to purchase, trade or carry securities; repay margin debt that was used to purchase, trade or carry securities; and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account. Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee, but it will provide access to trust services through an appropriate third-party corporate trustee. Options may not be suitable for particular investors. Before engaging in the purchase or sale of options, potential clients should understand the nature and extent of their rights and obligations and be aware of the risks involved, including, without limitation, the risks pertaining to the business and financial condition of the issuer of the underlying security/instrument. Options investing, like other forms of investing, involves tax considerations, transaction costs and margin requirements that can significantly affect clients potential profits and losses. The transaction costs of options investing consist primarily of commissions (which are imposed in opening, closing, exercise and assignment transactions) but may also include margin and interest costs in particular transactions. Transaction costs are especially significant in options strategies calling for multiple purchases and sales of options, such as multiple-leg strategies, including spreads, straddles and collars. If a client is considering engaging in options trading as part of his or her investment plan, the or Private Wealth Advisor is required to provide the client with the Characteristics and Risks of Standardized Options (ODD) booklet published by the Options Clearing Corporation. Clients should not enter into options transactions until they have read and understood the ODD Disclosure Document, as options are not suitable for everyone, and discussed transaction costs with the Financial Advisor or Private Wealth Advisor. A copy of the ODD is also available online at: Supporting documentation for any claims (including any claims made on behalf of options programs or the options expertise of salespersons), comparisons, recommendations, statistics or other technical data will be supplied upon request Morgan Stanley Smith Barney LLC. Member SIPC. CRC CS /17