¹This case study presented is for illustrative purposes only. Past performance is no guarantee of future results. These strategies do not

guarantee a profit or protect against loss and may not be suitable for all investors. This material 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. The strategies

and/or investments discussed in this material may not be suitable for all investors. Morgan Stanley Wealth Management recommends that

investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor.

The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

Boston Harbor Office, 53 State St., 39th Floor, Boston, Ma 02109, Branch Manager: William Drew, Phone 800-752-2678

Case Study: #1 Question Asked by The Pathak Group

Investors Considering a Relationship With Us…

“John¹” was a co-owner of his family’s business. While most of his wealth was in the business, he was well

compensated and had a retirement account worth approximately $600,000, which was managed by a

Financial Advisor that was a family friend. When John turned 59 he decided to sell his share of the

business, for which he received $3.6 million. This amount of money, he felt, exceeded the amount his

Financial Advisor could effectively manage, so John was seeking a new advisor. During one of our early

conversations he asked, “What’s different about your group? It seems that all of the Financial Advisors I

am evaluating talk about or offer the same things.”

John’s question was not surprising, as it is the question most frequently-asked by people who are in the

process of considering a relationship with us. Like John, many prospective new clients have heard one

advisor after another talk about their wealth management process, client service, accessibility,

portfolio management, or transparent communication.

When we met with John—and as a standard practice whenever we meet a prospective new client— we

first spent time learning about him, his family situation, his long-term goals and his short-term concerns.

He admitted this was a refreshing approach, which he preferred to a one-size-fits-all sales presentation

about what we do… however, this alone was not enough to make John feel comfortable.

A Unique Differentiator

One thing John did find different, however, was our approach to practice management and the fact that

we work with an advisory panel. This one factor was, as John said, “…very different from most if not all.”

As we explained to him, the panel was conceived in an effort to continually improve the way we work, the

way we serve clients and how we make day-to-day decisions. Made-up of clients and other experienced

business professionals, the advisory panel’s input and advice is a unique resource that has enabled us to:

Better understand investor’s concerns and priorities

Make better practice management decisions

Maintain a broader, unbiased perspective about client and marketplace preferences

Enhance client service in a more practical fashion

Not only has this effort enriched our relationships with those who serve as counsellors, but it has also

helped us run a better practice, better-serve our clients, and sustain a leading-edge position as

wealth managers and business professionals.