• Wealth Management

Planning for the Expected and Unexpected

While many clients initially engage a Morgan Stanley Private Wealth Advisor to address a specific challenge, they often find value from services they never expected.

The owner of a manufacturing company spent most of his life building a very successful business. He had sold part of the company to his employees in an employee stock ownership plan and decided it was time to divest the rest of his shares in a strategic sale. He hired an investment banker, who introduced him to a team of Morgan Stanley Private Wealth Advisors. There was some urgency to his wealth planning situation, as the client was struggling with health issues and wanted to make sure that all of his financial affairs were in order to minimize the strain on his wife and adult daughters.

After an in-depth discovery process, his Private Wealth Management team and his other advisors created a comprehensive plan covering pre-liquidity strategies, tax issues, gifting strategies and estate planning matters. Additionally, the advisors called on the Morgan Stanley Wealth Strategies Group for assistance in creating a strategic investment allocation for the proceeds from the sale of the business. The group’s Tax, Trust & Estate experts also assisted in reviewing documents and providing suggestions.

 The finalized plan was set down in a well-organized, single folio that consolidated all of the family’s financial records, key documents and important contacts.

While the documents were being assembled, the family went on vacation. The father suffered a sudden health setback and needed to rush back to his primary physician for treatment. Not knowing what to do, one of his daughters contacted his Private Wealth Advisor, who connected with Private Wealth Management’s aviation advisory contact and had a plane at the nearest airport in a matter of hours.

The family originally contacted Private Wealth Management because they needed the kind of planning and organization that would give them greater confidence about family finances. Their Private Wealth Advisors were proud to provide them with service far beyond the financial realm. Today, the family remains among the team’s largest clients.