Footnotes:
1 Tax savings yield is the estimated reduction in tax liability because of tax-loss harvesting divided by the total market value of the account – through December 2014-December 2024. UMA Tax Management Analytics assumes the highest marginal Federal Income Tax Rates and may differ from a client’s actual tax savings.
Disclosures:
Clients may elect Tax Management Services for the account by notifying their Financial Advisor and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services 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.
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.
There is no guarantee that tax-loss harvesting will achieve any particular tax result.
This material has been prepared for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
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