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the Morgan Stanley Smith Barney LLC RelationshipSummary.PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.
IMPORTANT NOTE: Options and futures transactions are complex and involve a high degree of risk, are intended for sophisticated investors and are not suitable for all investors. For more information, please read the Characteristics and Risks of Standardized Options and Risk Disclosure Statement for Futures and Options before you begin trading options. Supporting documentation for any claims made regarding options will be supplied upon request.
Futures margin, also known as a “performance bond,” is the amount of money you are required to deposit in your account to open and hold a futures position. Unlike margin trading in the equity market, futures margin is not a loan. The amount of initial margin (i.e., required upfront capital) is small relative to the notional value of the futures contract. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit, which may work against you as well as for you. You may sustain a total loss of your initial investment, any additional funds deposited to maintain your position, or potentially amounts exceeding your initial investment or the prior days’ minimum regulatory requirements, and which may require you to deposit additional funds into your account to satisfy any resulting debits. If the funds in your account drop below the minimum regulatory requirement at any given time, you may be called upon to pay substantial additional funds on short notice to maintain your position or your position may be automatically liquidated at a loss and you will be liable for any resulting deficit.As a general matter, E*TRADE Futures does not permit physical delivery of commodities or digital assets. Customers that hold futures to maturity may be subject to immediate liquidation including at a loss and appliable fees.
Select the following link to view E*TRADE Futures LLC FUTURES DISCLOSURE DOCUMENTS AND OTHER FINANCIAL INFORMATION.
Consolidation is not right for everyone, so you should carefully consider your options. Before deciding whether to retain assets in a retirement plan account through a former employer, roll them over to a qualified retirement plan account through a new employer (if one is available and rollovers are permitted), or roll them over to an IRA, an investor should consider all his or her options and the various factors including, but not limited to, the differences in investment options, fees and expenses, services, the exceptions to the early withdrawal penalties, protection from creditors and legal judgments, required minimum distributions, the tax treatment of employer stock (if held in the qualified retirement plan account), and the availability of plan loans (i.e., loans are not permitted from IRAs, and the availability of loans from a qualified retirement plan will depend on the terms of the plan). For additional information, view the FINRA Website.
Diversification and asset allocation strategies do not ensure profit or protect against loss in declining markets. Investments in securities and other instruments involve risk and will not always be profitable including loss of principal.
Investing in securities involves risk, including possible loss of principal.
Prior to investing in a managed portfolio, Morgan Stanley Smith Barney LLC will obtain important information about your financial situation and risk tolerances and provide you with a detailed investment proposal, investment advisory agreement, and wrap fee programs brochure. These documents contain important information that should be read carefully before enrolling in a managed account program. Please read the Core Portfolios Wrap Fee Programs Brochure for more information on the advisory fee, rebalancing methodologies, portfolio management, affiliations, and services offered.
The material provided by Morgan Stanley Smith Barney LLC, Morgan Stanley or any of theiraffiliates, or by a third party not affiliated with Morgan Stanley is for educational purposes only and is not an individualized recommendation. This information neither is, nor should be construed as, an offer or a solicitation of an offer, or a recommendation, to buy, sell, or hold any security, financial product, or instrument discussed herein, or to open a particular account or to engage in any specific investment strategy.
E*TRADE from Morgan Stanley ("E*TRADE") charges $0 commission for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and E*TRADE reserves the right to charge variable commission rates. The standard options contract fee is $0.65 per contract (or $0.50 per contract for customers who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC) securities transactions, foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. All fees and expenses as described in a fund's prospectus apply. Additional regulatory and exchange fees may apply. For more information about pricing, visitetrade.com/pricing.
Transaction fees, fund expenses, brokerage commissions, and service fees may apply
A distribution from a Roth IRA is federal income tax free and penalty tax free provided the distribution occurs (a) after the five-tax-year holding period, and (b) on or after age 59 1/2, on account of the death or qualifying disability of the Roth IRA owner, or for a qualified first-time homebuyer purchase. The five-tax-year holding period begins with the first tax year for which you made a contribution (or in which you made a rollover or conversion contribution) to any Roth IRA established for you as owner (not as beneficiary of a deceased individual).
All withdrawals from Individual Retirement Accounts will be considered distributions and reportable on IRS Form 1099-R. You must include all amounts you receive from the IRA in your gross income except amounts attributed to nondeductible contributions and amounts rolled back into an IRA or qualified plan.Federal and state income tax will not be withheld from payments from your E*TRADE Complete IRA using the checking, online bill pay or ATM/debit card features of the account, and it is your responsibility to make estimated tax payments if necessary. Withdrawals processed from your E*TRADE Complete IRA using the checking feature will be tax reported on IRS Form 1099-R for the year in which the funds are debited from your IRA after the check is cashed by the payee (even if the check was sent to the payee in the prior tax year). You expressly assume the responsibility for any adverse consequences that may arise from an IRA withdrawal and agree that Morgan Stanley Smith Barney LLC shall in no way be held responsible. Morgan Stanley Smith Barney LLC and its affiliates do not provide tax advice, and you always should consult your own tax advisor regarding your personal circ*mstances before taking any action that may have tax consequences.
Individual, joint and custodial accounts are eligible for the E*TRADE Complete™ Debit Card. In addition, certain IRA accounts are eligible if you are over age 59½. Not eligible are IRA accounts under age 59½, other retirement accounts, and business or investment club accounts.
The Annual Advisory Fee is 0.30%, or as low as $1.50 for $500 in assets, and is the direct fee charged to any client in the advisory program. The advisory fee does not cover underlying management fees and expenses of any mutual fund or ETF investment held in the portfolio.
As of , the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is . Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.
Based on comparison to the National Deposits Savings Average Annual Percentage Yield (APY) as published on the FDIC Weekly National Rates and Rate Caps Weekly Update, as of June 17, 2024.
The Premium Savings Bank Deposit Program (the "Program") gives Morgan Stanley Private Bank, National Association the ability to sweep any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation ("FDIC") member banks with the purpose of affording you additional FDIC insurance coverage. The Program is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts).Learn more
Morgan Stanley Financial Advisors, Private Wealth Advisors, and Morgan Stanley Virtual Advisors (collectively, Financial Advisors) are licensed representatives of Morgan Stanley Smith Barney LLC. We may connect you with an E*TRADE representative before you speak with a Morgan Stanley Financial Advisor. Opening an account with a Morgan Stanley Financial Advisor may require minimum asset levels. Other eligibility requirements may apply and certain products and services (including any lifestyle programs) are not available to or appropriate for all clients. Fees may apply should you choose to open an account with Morgan Stanley. Account fees and other important information can be found at www.morganstanley.com/iai.
As of , the Annual Percentage Yield (APY) of the Max-Rate Checking Account is . Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding interest rate tiers, current interest rates, and corresponding APYs.
With Max-Rate Checking, Morgan Stanley Private Bank, National Association ("Morgan Stanley Private Bank") will not charge you a fee for withdrawing funds from any institution's ATM but the owner/operator of the ATM may charge a fee. In those cases, we will refund ATM fees charged worldwide. For additional information and important details about how the ATM fee refund will be applied, please visit the etrade.com/rateandfee for more details.
Morgan Stanley Private Bank imposes a charge equal to 1% of the transaction amount (including credits and reversals) for non-U.S. currency transactions. Refer to the etrade.com/rateandfee for more details.
The $15 monthly account fee can be waived when you maintain an average monthly balance of at least $5,000 in the account on or after the end of the second statement cycle. Alternatively, you can also waive the fee by 1) setting up a direct deposit of $200 or more per month to the account (a combination of direct deposits totaling $200 does not satisfy this requirement), or 2) maintaining an average monthly balance of at least $50,000 in linked Morgan Stanley Private Bank, National Association accounts on or after the end of the second statement cycle, or 3) having a combined balance of $50,000 or more in linked E*TRADE from Morgan Stanley (held at Morgan Stanley Smith Barney LLC), and employee stock plan accounts (including vested in-the-money options, stock option plan shares, ESPP shares, and released restricted stock) on the date the monthly fee is charged, or 4) having executed at least 30 stock or options trades during the prior calendar quarter in your linked E*TRADE from Morgan Stanley accounts.
Based on comparison to the National Deposit Interest Checking Average Annual Percentage Yield (APY) as published on the FDIC Weekly National Rates and Rate Caps Weekly Update, as of June 17, 2024.
With Checking, Morgan Stanley Private Bank, National Association ("Morgan Stanley Private Bank") will not charge you a fee for withdrawing funds from any institution's ATM but the owner/operator of the ATM may charge a fee. In those cases, we will refund ATM fees charged nationwide. For additional information and important details about how the ATM fee refund will be applied, please visit the etrade.com/rateandfee for more details.
Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. With the exception of the pledged-asset feature, an investment relationship with Morgan Stanley Smith Barney LLC does not have to be established or maintained to obtain the residential mortgage products offered by Morgan Stanley Private Bank, National Association. All residential mortgage loans/ home equity lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. Rates, terms, and programs are subject to change without notice. Residential mortgage loans/ home equity lines of credit may not be available in all states; not available in Guam, Puerto Rico and the U.S. Virgin Islands. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. Morgan Stanley Private Bank, National Association is an Equal Housing Lender and Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. Nationwide Mortgage Licensing System Unique Identifier #663185. The proceeds from a residential mortgage loan (including draws and advances from a home equity line of credit) are not permitted to be used to purchase, trade, or carry eligible margin stock; repay margin debt that was used to purchase, trade, or carry margin stock; or to make payments on any amounts owed under the note, loan agreement, or loan security agreement; and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
In Kiplinger's annual Best Online Brokers Review of 10 firms across seven categories issued August 31, 2023, and based on evaluation conducted from August 26, 2022 – August 26, 2023,E*TRADE from Morgan Stanleyearned an overall score of 67.2 out of 100. E*TRADE’s ratings for all category rankings include: Research (#1), Overall (#2), Investment Choices (#3), Smartphone App (#3), Fees (#4), User Experience (#4), Tools (#5), and Advisory Services (#5). Read the full “Best Online Brokers and Trading Platforms 2023” survey. From Kiplinger's Personal Finance. © 2023 The Kiplinger Washington Editors. All rights reserved. Used under license.
Securities products and investment advisory services offered by Morgan Stanley Smith Barney LLC, Member SIPC and a Registered Investment Adviser. Commodity futures and options on futures products and services offered by E*TRADE Futures LLC, Member NFA Stock plan administration solutions and services offered by E*TRADE Financial Corporate Services, Inc., and are a part of Morgan Stanley at Work. Banking products and services provided by Morgan Stanley Private Bank, National Association, Member FDIC. All entities are separate but affiliated subsidiaries of Morgan Stanley. E*TRADE from Morgan Stanley and Morgan Stanley at Work are registered trademarks of Morgan Stanley. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors. Statement of Financial Condition | About Asset Protection | Account Agreements and Disclosures | Quarterly 606 Report | Business Resiliency Plan ©currentYear E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy
