Morgan Stanley Private Wealth Management


Zager Fixed Income Management

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Zager Fixed Income Management

ZagerFIM creates customized solutions to help investors outperform their fixed income targets and achieve competitive yields while protecting their principal.

Welcome

Welcome

Zager Fixed Income Management focuses on discretionary account management of cash and fixed income portfolios, working closely with client's risk profile and income requirements. Client accounts can be fully customized to meet specific investment preferences and constraints.


Our team consists of eight professionals who run some of Morgan Stanley's largest, separately managed, fixed income and cash portfolios. As of 6/30/17, the team managed $9.8 billion for insurance companies, public and private corporations, foundations and ultra high net worth individuals. This includes approximately $3.5 billion in custodied assets at the largest US custodians.

Our exceptionally experienced team builds and actively manages highly customized fixed-income portfolios, providing:

  • Dedicated fixed income managers
  • Tailored, high-grade, cash portfolios
  • Customized investment guidelines
  • Street wide coverage and institutional execution
  • Independent credit research
  • Direct access to portfolio manager and trading team
  • Online portfolio access provides position data and account reporting
  • Third-party custodial capabilities

For Taxable Accounts:

  • Strong tax background and focus on after-tax total return


Click the PDFs below to see our latest newsletters:

Q4 2017 ZagerFIM Newsletter.pdf

Q3 2017 ZagerFIM Newsletter.pdf

Q2 2017 ZagerFIM Newsletter.pdf

Q1 2017 ZagerFIM Newsletter.pdf

Capabilities

  • Investment Management
  • Pre-Liquidity Planning
  • 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.

Philosophy

Philosophy

We follow a highly disciplined process in our quest to maximize after-tax returns.

Our fixed income management objectives are to ensure the protection of principal, maximize after-tax return and maintain ample liquidity for cash flow and potential reinvestment needs. We manage diversified portfolios with no positions exceeding 5% of the portfolio at cost, and do not employ leverage.

In addition to seeking to preserve market value through portfolios with high-quality diversified issues, we create customized maturity structures to meet any capital calls and planned expenditures. We utilize liquid and marketable short securities that provide attractive relative returns compared to traditional cash management alternatives. All investment decisions are made in accordance with the account's investment guidelines. All trades executed with firms unaffiliated with Morgan Stanley on an agency basis. The exclusion of trading on a principal basis can eliminate potential conflicts of interest.

Every day, we monitor and evaluate macroeconomic trends to identify favorable or negative sectors. We examine credit quality, bond structure, duration and other criteria, looking for issues or issuers that exude favorable characteristics or are relatively undervalued.


FIXED INCOME STRATEGIES

Taxable:

  • Core Fixed Income
  • Short, Intermediate & Long Duration
  • Cash Management

Tax-Advantaged:

  • Short, Intermediate & Long Duration
  • Cash Management
  • National/State Focus


Click the PDF below to view current rates:

Capital Market Rates - 02.05.18.pdf

Our Clients

Clients

We manage high-grade fixed-income assets for some of the world’s wealthiest and most influential people. Our clients include several billionaires, many of the world’s most prominent entertainers, entrepreneurs, business executives and an extensive list of foundations, hedge funds and other institutional clients. We work to develop a comprehensive understanding of each client’s specific goals, challenges and risk tolerances so we can design and implement a highly customized fixed-income portfolio to address our clients’ needs. Zager Fixed Income Management works closely with each client to implement strategies that provide flexible liquidity and tax-exempt solutions that best fulfill their financial imperatives.

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Focus on fixed income investments:

Taxable:

  • Government securities
  • Corporate securities
  • Mortgage and asset-backed securities
  • Floating rate and callable notes
  • Taxable municipals
  • Money market funds and other short-term securities

Tax-Exempt:

  • Tax-exempt municipal bonds
  • Put bonds
  • Tax-exempt commercial paper
  • Private activity
  • Callable and cushion issues

Click below to watch Morgan Stanley's Vice Chairman Gary Kaminsky commend ZagerFIM (03:15) around the 3 minute mark on CNBC:

www.cnbc.com/video/3000187450 

Location

Location

  • 1999 Ave Of The Stars, Suite 2400
  • Los Angeles, CA 90067


    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 from Morgan Stanley Family Office Resources for our ultra high net worth clients, which contains thought-provoking articles, authored by some of the leading FOR specialists.

    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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    Awards Disclosures