Morgan Stanley Private Wealth Management


Wolcott/Swaffin-Smith

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Wolcott/Swaffin-Smith

Combining our experience with the vast resources of a global financial leader, we help affluent families structure and invest their wealth to optimize long-term, after-tax, after-fee performance.

Welcome

Welcome

Having worked with exceptionally successful people for nearly 25 years, we understand that that no two families have quite the same opportunities and challenges. Your needs, concerns and aspirations are unique. Your wealth management plan is successful only to the extent that it supports your vision of a successful life. 

We believe that investment strategies should focus on what you keep rather than what you earn, and the proper tools and techniques are essential to achieving that goal. Strategies to minimize income tax can be as important as those to minimize estate and gift taxes, and tax-aware planning should apply to both sides of your personal ledger.  

We understand that your needs have to come first, and your trust has to be earned through our competence, integrity and commitment to your success.

Capabilities

  • Comprehensive Wealth Planning
  • Pre-Liquidity Planning
  • Hedging Strategies
  • 10b5-(1) Programs
  • Open-Architecture Platform
  • Investment Management
  • Manager Selection
  • Proprietary Investment Opportunities
  • Risk Management


Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck.

About PWM

About PWM

Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth.  Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:

  • Manage investments with an unwavering focus on your financial strategy and personal goals
  • Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
  • Simplify financial complexity to help you achieve clarity and control 

Private Wealth Management Highlights
  • Approximately 250 teams1 specialized in assisting individuals and families with $20MM+ in investable assets
  • Over $300 billion in AUM2
  • Comprising over 20% of the Barron’s Top 100 Financial Advisors list for 20163
  • Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families

1 Morgan Stanley Internal Compensable Revenue Report, July 21, 2016
2 Morgan Stanley Wealth Management, December 31, 2016
3 Barron’s Top 100 Financial Advisors, April 16, 2016

Approach

Approach

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Discovery Process
Investing the time to learn about you and your family; your assets and liabilities and the risk exposures, enables us to formulate strategies and customize the relationship to your needs.

Formulation of Tax, Trust and Estate Strategy
Working with your tax and legal advisors, we help analyze your income and estate tax circumstances to identify and tailor planning techniques that may be used to address your objectives.

Creation of Customized Strategic Asset Allocation
Your customized asset allocation reflects risk, opportunities and taxation across multiple entities, while integrating your investing and estate plans.

Integration of Tactical Asset Allocation
Short-term adjustments seek to capitalize on temporary market distortions. Before making adjustments, we analyze the impact of taxes and trading costs on potential returns.

Implementation of a Customized Wealth Strategy
After comprehensive due diligence and analysis of expected results across multiple market scenarios, strategies are chosen from our expansive investment platform.

Ongoing Assessment
In coordination with your other advisors, we can conduct ongoing reviews and comprehensive reporting to ensure that your strategy adapts to changing financial and family needs.

Our Clients

Clients

We serve a select clientele of highly accomplished entrepreneurs, executives and financial professionals, as well as their families and foundations. Most of our clients are still actively involved in their careers, and many spend a significant amount of time focused on family and community involvements. That leaves little time to focus on managing their personal wealth. Our role is to help them develop comprehensive strategies to protect and grow their assets and simplify their financial lives, leaving them free to focus on their businesses, their families and whatever pursuits add value to their lives.

Philosophy

Philosophy

Since income taxes can have a profound impact on the net performance of a portfolio over time, we believe that fundamentally different approaches are needed for the management of assets in taxable versus tax-deferred accounts.

This includes the strategic selection of asset class and implementation vehicle within each account type.

Our preferred approach for taxable accounts:

  • Focus on the “Core” building blocks of a diversified portfolio (U.S. & International Equity and  U.S. Bonds)
  • Index where possible to keep turnover and costs low with a particular focus on managers with proven proficiency in tax-loss harvesting.
  • Use Separately Managed Accounts to facilitate the full spectrum of tax management techniques where possible*

Our preferred approach for tax-deferred accounts:

  • Focus on “Satellite” strategies that tend to be tax- inefficient but offer the ability to improve risk- adjusted returns
  • Leverage low-cost ETFs and Index Funds to reduce overall costs where relevant
  • Draw on extensive resources of the firm to identify appropriate third-party managers who can consistently outperform over time

*Tax management techniques include; Buy and Hold, Tax Loss Harvesting, Tax Lot Selling, Buy and Hedge, Laddering Bonds, Charitable Gifts

“Tax-aware advisory best practices require thoughtfully making the most of the after-tax return potential of each investor”.
- Stephen Riley and Richard Furmanski – The Tax Advisor® newsletter 2016

Location

Location

  • 555 California Street, 14th Fl
  • San Francisco, CA 94104


    Meet the Professionals

    Managing Significant Wealth

    • Investment Management
    • Wealth Transfer & Philanthropy
    • Cash Management & Lending
    • Family Governance & Legacy
    • Signature Access
    • Business Services

    Insights and Outcomes

    Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.

    We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.

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    The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.

    Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice.  Visitors to this website 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 Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration.  Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.

    See the Financial Advisors Biographies for Registration and Licensing information.

    Certified Financial Planner™ Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with flame logo)® in the U.S., which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

    Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst (with graph element)®, and Certified Investment Management Analyst .

    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

    Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.

    Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.

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