Disclosures:
1 Cerulli Associates, “Cerulli Anticipates $84 Trillion in Wealth Transfers Through 2045,” press release, January 20, 2022. Cerulli projects that wealth transferred through 2045 will total US$84.4 trillion, with US$72.6 trillion in assets transferred to heirs and US $11.9 trillion donated to charities.
Morgan Stanley Smith Barney LLC analysts conducted a web-based survey of approximately 2,500 financial advisors concentrated in New York, California, Illinois and Texas from 1 March 2023 to 14 March 2023. Advisors were selected by isolating major metropolitan areas where significant sales and activity related to art and collectibles occur. Data collected included, but was not limited to, the following: identifying the percentage of financial advisors at Morgan Stanley with (a) clients that own art and collectibles; with (b) clients that are interested in art lending solutions; and with (c) clients that are interested in selling their art or collectibles.
This material is for informational purposes only and does not provide investment advice or any advice regarding the purchase and/or sale of any artwork. It is prepared without regard to the individual financial circumstances and objectives of persons who receive it. It is not a recommendation to purchase or sell artwork nor it is to be used to value any artwork. Investors must independently evaluate particular artwork, artwork investments and strategies, and should seek the advice of an appropriate third-party advisor for assistance in that regard as Morgan Stanley Smithy Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors do not provide advice on artwork. Morgan Stanley does not assist with buying or selling art in any way and merely provides information to investors interested learning more about the different types of art markets at a high level. Any investor interested in buying or selling art should consult with their own independent art advisor.
This material contains forward-looking statements and there can be no guarantee that they will come to pass. Information contained herein is based on data from multiple sources and Morgan Stanley makes no representation as to the accuracy or completeness of data from sources outside of Morgan Stanley. References to third parties contained herein should not be considered a solicitation on behalf of or an endorsement of those entities by Morgan Stanley. Neither the information provided nor any opinion expressed constitutes a solicitation by Morgan Stanley with respect to the purchase or sale of any security, investment, strategy or product that may be mentioned.
Tax laws are complex and subject to change. Morgan Stanley, its affiliates, and Morgan Stanley Financial Advisors, Private Wealth Advisors, and International Client Advisors do not provide tax or legal advice. Individuals are urged to consult their personal tax or legal advisors to understand the tax and legal consequences of any actions, including any implementation of any strategies or investments described herein. Clients should also 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.
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