Clients may elect Tax Management Services for an account by notifying their Financial Advisor, and indicating what Maximum Tax or Realized Capital Gain Instruction is desired for an account, if any. The Tax Management Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV Brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV Brochure carefully with your tax advisor. Tax Management Services are not available for all accounts or clients and may adversely impact account performance. Tax Management Services do not constitute tax advice or a complete tax-sensitive investment management program. There is no guarantee that Tax Management Services will produce the desired tax results.
* Mutual funds reviewed for tax-loss harvest opportunity only during the fourth quarter tax-loss process. MLP securities for which a Schedule K-1 Tax Report is generated are excluded from quarterly systematic tax-loss harvest processes.
** Eligible and available securities include securities that are both IRS Wash Rule eligible and above the minimum tax-loss thresholds as described in the Select UMA ADV Brochure. See Exhibit A: Tax Management Services Terms & Conditions.
*** Morgan Stanley and the Select UMA Tax Management Service do not guarantee adherence to the IRS Wash Sale Rule.
Morgan Stanley Smith Barney LLC, its affiliates and its employees are not in the business of providing tax or legal advice. Investors should seek advice based on their own particular circumstances from an independent tax advisor. The performance of tax-managed accounts is likely to vary from that of nontax-managed accounts.
Investing in the markets entails the risk of market volatility. The value of all types of securities, including mutual funds and exchange-traded funds, may increase or decrease over varying time periods.
Morgan Stanley Smith Barney LLC 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.
Please see the Morgan Stanley Smith Barney LLC Select UMA ADV brochure for more information on the Select UMA program. Ask your Financial Advisor for a copy or click here: www.morganstanley.com/ADV.
Select UMA® is a registered service mark of Morgan Stanley Smith Barney LLC.
CRC# 5329070 (12/2022)