Show Notes
Growing up in a lower-middle-class family, Maxwell has a deep desire for financial stability and security. He's concerned about the risk of having too much of his wealth tied up in his employer's stock, which is more than $1 million. He needs help to diversify his investments in a tax-efficient way so he can build a legacy of generational wealth. In this episode of What Should I Do With My Money?, listen in as Maxwell gets advice on investing for future generations from Evan, a Morgan Stanley Financial Advisor. Visit our episode website for a deeper dive on topics covered in this episode like 529 Plans, tax-efficient investing and diversifying a concentrated position, or to find a Morgan Stanley Financial Advisor to fit your needs. Also find important disclosures here. More insights to help you go further: 529 Plans: A Powerful Took to Save for Education How Direct Indexing Can Offer Investors Potential Tax Savings and Flexibility Tax-Loss Harvesting Can Work Year-Round for Investors—Here’s How 4 Tax-Smart Ways to Diversify Your Portfolio Rational Investing in an Age of Uncertainty Next Generation Gifting Considerations
The conversation in this podcast is solely intended as a case study between a client/prospective client with a Financial Advisor and is not intended to serve as individualized investment or financial advice. No portion should be construed as a recommendation to employ any of the guidance contained within this podcast. Each investor has their own unique facts and circumstances and must determine what is appropriate for their own situation. Participants in this podcast are not compensated and are not affiliated with Morgan Stanley. This material has been prepared for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC ("Morgan Stanley") recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. Past performance is no guarantee of future results. The 529 Plan Program Disclosure contains more information on investment options, risk factors, fees and expenses, and potential tax consequences. Investors can obtain a 529 Plan Program Disclosure from their Financial Advisor and should read it carefully before investing. Investors should also consider whether tax or other benefits are only available for investments in your home state 529-college savings plan. Direct Indexing may adversely impact account performance. There is no guarantee that Direct indexing will produce the desired tax results. Morgan Stanley offers investment program services through a variety of investment programs, which are opened pursuant to written client agreements. Each program offers investment managers, funds and features that are not available in other programs; conversely, some investment managers, funds or investment strategies may be available in more than one program. Morgan Stanley's investment advisory programs may require a minimum asset level and, depending on a client's specific investment objectives and financial position, may not be appropriate for the client. Please see the applicable program disclosure document for more information, available at www.morganstanley.com/ADV or from your Financial Advisor. Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters. Diversification
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Scott, a first-generation entrepreneur, turns to Morgan Stanley Financial Advisor Blair to think beyond traditional estate planning and consider what comes next for his family. Blair’s approach starts with the individuals behind the wealth, exploring each family member’s values, passions and views on work and responsibility before developing a shared family mission. Together, they discuss how those conversations can provide a framework for making decisions about wealth, preparing the next generation for greater financial responsibility, and giving Scott’s children room to pursue their own paths. DISCLOSURES This material has been prepared for general informational and educational purposes only. It is not intended to provide individually tailored investment, financial, legal, tax, estate planning or other advice, and it should not be relied upon as a recommendation to engage in any particular strategy or transaction. The views and opinions expressed by the guest speaker are solely those of the guest speaker and do not necessarily reflect the views of Morgan Stanley Smith Barney LLC, Morgan Stanley & Co. LLC or their affiliates. The guest speaker is not an employee or representative of Morgan Stanley. The guest speaker was not compensated by Morgan Stanley for participating in this podcast. The client experience discussed is specific to the individual featured and may not be representative of the experience of other Morgan Stanley clients. There is no guarantee that other clients will have the same or similar experience. Any statements regarding the working relationship between the client and the Morgan Stanley Financial Advisor are testimonial in nature. Testimonials may not be representative of the experience of other clients and are not a guarantee of future performance or success. Morgan Stanley and its Financial Advisors do not provide tax or legal advice. Clients should consult their own tax advisor, attorney and/or estate planning professional regarding their particular circumstances before implementing any estate planning, trust, gifting, business succession, charitable or tax-related strategy. Family governance, family mission statements and wealth education discussions are qualitative planning tools. They do not guarantee family alignment, improved communication, investment success, preservation of wealth, tax efficiency or any particular financial or personal outcome. The case study, discussion and examples are provided solely to illustrate certain planning concepts. They should not be construed as a recommendation or indication that any planning approach is suitable for all clients. The information provided does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell, any security, financial product, service or strategy. Discussions regarding wills, powers of attorney, trusts, gifting, family governance, family mission statements and intergenerational wealth transfer are for educational purposes only and do not constitute legal or estate planning advice. Trust and estate planning strategies may not be appropriate for all individuals and are subject to complex laws and regulations, which may change over time. The effectiveness of any estate planning strategy depends on a client’s specific facts and circumstances. Family governance, family mission statements and wealth education discussions are qualitative planning tools. They do not guarantee family alignment, improved communication, investment success, preservation of wealth, tax efficiency or any particular financial or personal outcome. ETRADE from Morgan Stanley is a registered trademark of Morgan Stanley. Brokerage products and services are offered by ETRADE Securities LLC, Member SIPC. Morgan Stanley Smith Barney LLC and E*TRADE Securities LLC are affiliates. Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create different types of relationships and obligations. Clients should
Kelsey, an entrepreneur, faces the classic founder's trap: massive paper wealth but a liquidity crunch hindering her new AI startup, Mother.tech. Seeking a path forward, she consults her Morgan Stanley Financial Advisor, Ara. Together, they explore Morgan Stanley’s "HOPES" framework, using options strategies to unlock capital from her concentrated stock without triggering high taxes. They also lay the groundwork for a trust to secure her daughter's financial future, balancing high-stakes growth with long-term security. For more information about this episode and the topics covered, check out our episode page and explore how you can connect with a Morgan Stanley Financial Advisor. DISCLOSURES This material has been prepared for general informational and educational purposes only. It does not constitute an offer to buy or sell, or a solicitation of any offer to buy or sell, any security, financial instrument, investment product or strategy. The information presented is not intended to provide individually tailored investment advice and has been prepared without regard to the individual financial circumstances, objectives, risk tolerance or needs of any specific person. The guest speaker featured in this material is a client of Morgan Stanley and was not compensated for participating. The client’s statements reflect her own personal experiences and opinions. Her experiences are not representative of all client experiences, may not be duplicated, and are not a guarantee of future results or success. Morgan Stanley may or may not agree with the views expressed by the guest speaker. Any testimonials, endorsements, opinions or client experiences described herein should not be construed as a recommendation or solicitation by Morgan Stanley with respect to the purchase or sale of any security, investment product, strategy or service. Past experiences and outcomes are not indicative of future results. Results will vary based on each client’s particular circumstances. The views and opinions expressed by any speaker are those of the speaker as of the date of recording and are subject to change without notice. Morgan Stanley has no obligation to update this material or notify recipients if any information, opinion, forecast or estimate changes or becomes inaccurate. The transcript includes discussion of concentrated stock positions, diversification strategies, exchange funds, options strategies, securities-based lending, commodities, gold-related investments, helium-related investment themes, alternative investments, custodial accounts, 529 education savings plans, trusts and estate planning concepts. These topics involve important risks and considerations and may not be appropriate for all investors. Diversification does not guarantee a profit or protect against loss in a declining market. Strategies designed to manage concentrated stock positions, including holding, selling, hedging, options strategies, exchange funds, philanthropy and prepaid forward contracts, may involve significant risks, costs, tax consequences, restrictions and eligibility requirements. There can be no assurance that any such strategy will achieve its intended objective. Options are not appropriate for all investors. Options strategies may involve substantial risk and may result in losses, including the potential loss of the entire investment. Certain options strategies may also limit upside participation, generate taxable events, involve complex terms and require ongoing monitoring. Investors should understand the risks and characteristics of options before engaging in any options strategy. Securities-based lending, including Morgan Stanley’s Liquidity Access Line, may not be suitable for all clients. Borrowing against securities involves risks, including the potential for a collateral call, the need to deposit additional collateral or repay part or all of the loan, and the possibility that securities may be sold without prior notice to meet collateral requiremen
This season, we’re taking things up a notch. We’re going deep on strategies for diversifying your concentrated stock, understanding private market investing, integrating cryptocurrency into your portfolio, and a lot more. But what hasn’t changed is that money is always emotional. Join us to hear how a conversation can turn concern into confidence, hosted by Morgan Stanley's Jamie Roô. For more information visit morganstanley.com/mymoney -- The guests appearing on this podcast are unpaid speakers and are not employees or agents of Morgan Stanley unless otherwise noted. Their views are their own and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. This material has been prepared for general reference and educational purposes only. It does not provide individually tailored investment advice and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The strategies and/or investments discussed may not be appropriate for all investors. Morgan Stanley Wealth Management recommends that investors independently evaluate particular investments and strategies and consult with a Financial Advisor, legal advisor and/or tax advisor. Investing involves risk, including the possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market. Past performance is not a guarantee of future results. Digital assets, including cryptocurrency, are speculative and involve a high degree of risk, including potential loss of the entire investment. Private market investments may be highly illiquid, speculative and suitable only for qualified investors who can bear the risks associated with such investments. Please see the show notes for additional important information and disclosures. ©2026 Morgan Stanley Smith Barney LLC. Member SIPC. CRC#5951199 09/2026
Anne Mahlum built and sold Solidcore, a national fitness empire — and now she’s asking what really matters. After achieving financial freedom following her $100M exit, she’s thinking deeply about what it means to live a rich life. From love and legacy to family, philanthropy and mentoring, she’s considering how to spend, give and structure her wealth to make an impact while she’s still alive.
How do you financially plan for a child with special needs? Paige and Scott are navigating the emotionally complex and financially challenging landscape of raising their son who is considered to be level 3 on the autism spectrum. They have questions about being financially prepared to support their child throughout adulthood, while setting their second child up for success. Kim, a Morgan Stanley Financial Advisor, is a mother of a special needs child herself and offers tailored solutions for Paige and Scott. Hear their conversation on estate planning, ABLE accounts, special needs trusts and second-to-die insurance policies that can help secure their children's futures. For more information about this episode and the topics covered, check out our episode page and explore how you can connect with a Morgan Stanley Financial Advisor.