Clients can choose 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 Schedule A will govern the tax management services of 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 have a negative impact on account performance. Tax management services are not tax advice or a comprehensive tax sensitive investment management program. There is no guarantee that the tax management services will produce the desired tax results.
* Mutual funds reviewed for tax loss harvest opportunities only during the fourth quarter tax loss process. MLP securities for which a Schedule K-1 tax report is generated are excluded from the systematic quarterly tax loss harvesting processes.
** Eligible and available securities include securities that are both eligible for the IRS washout rule and above the minimum tax loss thresholds described in the Select UMA ADV brochure. See Appendix A: Terms and Conditions of Tax Management Services.
*** Morgan Stanley and the Select UMA Tax Management Service do not guarantee compliance with the IRS Wash Sale Rule.
Morgan Stanley Smith Barney LLC, its affiliates and employees are not engaged in providing tax or legal advice. Investors should seek advice based on their particular circumstances from an independent tax advisor. The performance of tax-managed accounts may differ from that of non-tax-managed accounts.
Investing in the markets involves the risk of market volatility. The value of all types of securities, including mutual funds and exchange traded funds, can go up or down over varying periods of time.
Morgan Stanley Smith Barney LLC provides 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 Morgan Stanley Smith Barney LLC’s Select UMA ADV brochure for more information on the Select UMA program. Request a copy from your financial advisor or click here: www.morganstanley.com/ADV.
Select UMA® is a registered service mark of Morgan Stanley Smith Barney LLC.
CRC # 3753647 9/21