Growing up in a lower-middle-class family, Maxwell has a deep desire for financial stability and security. He's concerned about the risk of having too much of his wealth tied up in his employer's stock, which is more than $1 million. He needs help to <a href="https://www.morganstanley.com/articles/diversify-risks-concentrated-positions" rel="noopener noreferrer" target="_blank">diversify his investments</a> in a <a href="https://www.morganstanley.com/what-we-do/wealth-management/total-tax-365-tax-managed-investing" rel="noopener noreferrer" target="_blank">tax-efficient way</a> so he can <a href="https://www.morganstanley.com/articles/estate-planning-checklist" rel="noopener noreferrer" target="_blank">build a legacy</a> of generational wealth.In this episode of What Should I Do With My Money?, listen in as Maxwell gets advice on investing for future generations from Evan, a Morgan Stanley Financial Advisor.Visit our&nbsp;<a href="http://www.morganstanley.com/mymoney" rel="noopener noreferrer" target="_blank">episode website&nbsp;</a>for a deeper dive on topics covered in this episode like&nbsp;<a href="https://www.morganstanley.com/ideas/529-plan-benefits-you-may-not-know" rel="noopener noreferrer" target="_blank">529 Plans</a>,&nbsp;<a href="https://www.morganstanley.com/what-we-do/wealth-management/total-tax-365-tax-managed-investing" rel="noopener noreferrer" target="_blank">tax-efficient investing</a> and&nbsp;<a href="https://www.morganstanley.com/articles/diversify-risks-concentrated-positions" rel="noopener noreferrer" target="_blank">diversifying a concentrated position</a>, or to&nbsp;<a href="https://advisor.morganstanley.com/search" rel="noopener noreferrer" target="_blank">find a Morgan Stanley Financial Advisor</a>&nbsp;to fit your needs. Also find important disclosures&nbsp;<a href="https://www.morganstanley.com/ideas/diversify-company-stock-what-should-I-do-with-my-money" rel="noopener noreferrer" target="_blank">here</a>.&nbsp;More insights to help you go further: <a href="https://www.morganstanley.com/articles/529-plans-a-powerful-tool-to-save-for-college-expenses" rel="noopener noreferrer" target="_blank">529 Plans: A Powerful Took to Save for Education</a><a href="https://www.morganstanley.com/articles/what-is-direct-indexing-benefits" rel="noopener noreferrer" target="_blank">How Direct Indexing Can Offer Investors Potential Tax Savings and Flexibility</a><a href="https://www.morganstanley.com/articles/tax-loss-harvesting" rel="noopener noreferrer" target="_blank">Tax-Loss Harvesting Can Work Year-Round for Investors—Here’s How</a><a href="https://www.morganstanley.com/articles/diversify-risks-concentrated-positions" rel="noopener noreferrer" target="_blank">4 Tax-Smart Ways to Diversify Your Portfolio</a><a href="https://www.morganstanley.com/articles/behavioral-finance" rel="noopener noreferrer" target="_blank">Rational Investing in an Age of Uncertainty</a><a href="https://www.morganstanley.com/articles/financial-gifts-kids-family-members" rel="noopener noreferrer" target="_blank">Next Generation Gifting Considerations</a>This material has been prepared for educational 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.Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at <a href="https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf" rel="noopener noreferrer" target="_blank">https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf</a> You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.Please add the following disclosures: Apple®, the Apple logo, iPhone®, iPad®, and iPad Air® are trademarks of Apple Inc., registered in the US and other countries. Apple Pay® and iPad mini® are trademarks of Apple Inc. App Store® is a service mark of Apple Inc. Google Pay is a trademark of Google LLC.© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.CRC# 3619836 (06/2024)&nbsp;

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