"Over the past year, the Morgan Stanley Smith Barney client statement has been transformed into a very meaningful communication that will enhance its clients' understanding of the status of their investment assets.  While many brokerage competitors seek to produce more meaningful statements, Morgan Stanley Smith Barney is recognized as an industry leader," said Kathleen Whalen, Managing Director at Dalbar.

"We are delighted with this recognition by Dalbar.  Creating the new statement was a team effort by many, including our Technology, Operations, Marketing and The Client Experience and Investment Strategy and Solutions groups - collaborating to make our monthly report to clients as useful and informative as possible.  It is an example of the kind of innovation we continue to pursue at Morgan Stanley Smith Barney," said Craig Pfeiffer, Head of Marketing and The Client Experience.

Dalbar ranked statements based on 139 attributes in four main categories: Calculated to be Understood, Primary Content, Secondary Content, and Design and Format.  The Morgan Stanley Smith Barney statement scored 89.14 out of a possible 100 points.  Other firms ranked in the survey were Edward Jones, Fidelity, LPL, Merrill Lynch, National Financial, Pershing, R.W. Baird, Raymond James, Schwab, UBS and Wells Fargo.

The statement currently is available to clients in the Morgan Stanley channel, and will become available to clients in the Smith Barney channel upon full technology integration.

Dalbar, Inc. is the nation's leading financial services market research firm and performs a variety of ratings and evaluations of practices and communications that are committed to raising the standards of excellence in the financial services and healthcare industries.  With offices in both the U.S. and Canada, Dalbar develops standards and measurement systems that improve the quality of products, service and compliance for the retirement, mutual fund, broker/dealer, discount brokerage, life insurance, healthcare and banking industries.

Morgan Stanley Smith Barney, a global leader in wealth management, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.  For further information about Morgan Stanley Smith Barney, please visit www.morganstanleysmithbarney.com.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.  The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 42 countries.  For further information about Morgan Stanley, please visit www.morganstanley.com.

Media Relations Contact: Tricia Nestifeld, 914.225.6369

©2011 Morgan Stanley Smith Barney LLC.  Member SIPC.