The Continuum Group at Morgan StanleyComprehensive Wealth Management Solutions

Con·Tin·u·uM: A continuous whole, quantity, or series; thing whose parts cannot be separated

or separately discerned.

— Collins American Dictionary

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Our team, The Continuum Group at Morgan Stanley, strives to offer our clients the best of both worlds: the personalized service of a family office coupled with the vast resources of one of the strongest global financial institutions.

Combined, we have over 70 years of experience in the financial services industry and pride ourselves on our ability to provide comprehensive and customized wealth management solutions. Our group has been thought-fully structured with seasoned and accomplished professionals, possessing the skill sets necessary to address the extensive needs of our high net worth clientele. Multiple team members have been sought after and recognized by leading financial media outlets to share their investment views. Scott Siegel has been featured in Barron’s Magazine as a member of their Top 100 Advisors in the country, of which he was included in 2010, 2011 and 2012. Scott has also been a guest panelist on CNBC’s “Power Lunch” to share his insights on the markets. Additionally, Mehmet Kirdar has participated as a guest media participant on Bloomberg Turkey to discuss the market environment and his investment outlook.

Our objective is to work intently with our clients, aligning their goals and needs to produce a comprehensive financial plan. We believe each client is unique and deserves a tailored plan, which we strive to deliver by way of a broad spectrum of investment, lending and planning solutions.

The conTinuum Group

our CommitmentDelivering Comprehensive, Personalized Solutions

Scott Siegel Michael O’HaraMehmet Kirdar

Joseph Carmody Meghan DuceyTara Raphael

Our Group has over 70 years of combined experience in the financial services industry. We believe that working with a team not only provides you with access to a broad array of experience and solutions, but it also helps to ensure that you will benefit from the highest levels of service.

While each of us offers distinctive skills and perspectives, we also share a commitment to responding to your investment needs promptly, proficiently, and thoroughly. Our goal is to earn and retain your confidence through the quality of the investment solutions we offer, as well as the professional and punctual manner in which they are delivered.

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our Human Capital: Meet The Continuum Group

Left to right: Michael O’Hara, Tara Raphael, Joseph Carmody, Scott Siegel, Mehmet Kirdar, Meghan Ducey

5The conTinuum Group

Mehmet KirdarSenior Vice PresidentPortfolio ManagerFinancial Advisor A s S e n io r V ic e P r e s id e n t a t Morgan Stanley, Mehmet has over 15 years of experience in helping high net worth individual and family clientele shape and implement their overall asset allocation strategies.

Within The Continuum Group, Mehmet provides institutional-level perspective and service while working with clients on their overall investment picture. He leverages the full resources of his team and Morgan Stanley to build tailored

As Managing Director of The Con-tinuum Group, Scott handles the in-vestment portfolios of ultra high net worth individuals. He focuses on fixed income investments with an emphasis on municipal bonds, corporate bonds and mortgage-backed securities. Scott also focuses on preferred stocks and Master Limited Partnerships (MLPs) for clients looking to produce dividends within their portfolios.

Scott SiegelManaging DirectorPortfolio ManagerFinancial Advisor

Scott is a 28-year veteran of the in-vestment industry. Having led clients through four bear markets, he has the experience to effectively navigate challenging economic times and tur-bulent markets. His primary goal is to help protect client assets against market uncertainties and to produce steady returns.

Scott and The Continuum Group joined Morgan Stanley in 2013. He was previously employed by J.P. Mor-gan Securities LLC and has also held positions with Bear Stearns and Co., Lehman Brothers and First Institutional Securities Corporation. Scott has been recognized as a top financial advisor by industry publications and has been named as one of Barron’s List of Top 100 Financial Advisors in the years 2010, 2011 and 2012. He is a regular speaker on the topic of fixed income at industry conferences and has been the subject of investment-related articles in Barron’s magazine.

portfolios designed to meet the specific investment objectives and needs of each individual client. Whether it is building a custom-blended municipal and corporate bond portfolio to fulfill a client’s fixed income needs, or developing an overall allocation that encompasses equities, Master Limited Partnerships (MLPs) and Exchange Traded Funds (ETFs), Mehmet will work with his clients to look at the big picture and narrow down the focus to what works best for a client’s individual circumstances.

Mehmet began his career at Global Securities (USA) Inc. as an Institutional Sales Trader where he specialized in covering money managers and prop-desk traders on their emerging market equity and fixed income investments. He spent 11 years at J.P. Morgan Securities LLC and Bear Stearns and Co. before mov-ing with the team to Morgan Stanley.

Mehmet is a graduate of Georgetown University with a Bachelor of Science degree in International Economics from the Edmund A. Walsh School

Scott is a graduate of The University of Maryland with a Bachelor of Science degree in Finance from the Robert H. Smith School of Business. He is active in several charitable organizations and currently sits on the board of the DREAM Project, which aims to break the cycle of poverty in the Dominican Republic by running inclusive, sustainable education programs for children and youth. He has been married for over 25 years to his wife, Deborah, has two daughters, Amanda and Jaynie, and is a longtime resident of Livingston, N.J.

Scott.Siegel@morganstanley.com212-296-6211

of Foreign Service. He holds a Mas-ter of International Affairs degree in International Finance and Banking from Columbia University’s School of International and Public Affairs. He is active in a variety of charitable and social organizations, including the Turkish-American Business Forum (President, Board Member), Turkish Philanthropy Funds (Board Member), and Foreign Policy Association (John Whitehead Fellow). Mehmet and his wife, Audrey, reside with their two children in New York City.

Mehmet.Kirdar@morganstanley.com212-296-6203

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As Associate Vice President, Michael brings over ten years of fixed income experience to The Continuum Group providing in-depth fundamental and technical analysis across a broad spectrum of fixed income and eq-uity investments. Michael, alongside Scott, heads the group’s fixed income research, strategy and implementation process. As the result of Michael’s specialized training and experience, he has attained the highly regarded Portfolio Manager designation. This allows him to identify, construct and manage investment portfolios, on a fully discretionary basis. In ad-dition, Michael works closely with both credit analysts and traders to discover and implement investment opportunities in the fixed income markets. Michael is also a Member of the Fixed Income Middle Markets Division at Morgan Stanley providing Fixed Income coverage to institutions.

Before joining Morgan Stanley, Mi-chael was an investment advisor at J.P. Morgan Securities LLC where he as-sisted high net worth individuals and institutions to develop fixed income strategies utilizing municipal bonds, corporate debt, preferred securities and treasuries. Prior to this, he was an investment advisor at Bear Stearns & Co. after beginning his career as an invest-ment advisor at RBC Dain Rauscher.

As Associate Vice President and Cer-tified Financial Planner (CFP®) with The Continuum Group, Joseph focuses on developing asset allocation and in-vestment strategies for high net worth individuals, families, and institutions.

Joseph specializes in constructing and maintaining holistic financial plans that encompass a client’s many complex financial needs including investments, trust & estate planning, retirement planning, insurance, and credit man-agement. In addition, he has worked extensively with corporate executives regarding stock option management and Rule 10b5-1 plans.

Joseph is also responsible for invest-ment manager research and due diligence, which includes ongoing communication with these managers regarding portfo-lio construction, investment strategy, performance and risk analysis.

Joseph graduated from Villanova University with a Bachelor of Arts de-gree and a double major in Econom-ics and Psychology. Prior to joining Morgan Stanley, Joseph was a Finan-cial Advisor at UBS Financial Services and he began his career as an equity trader at Lynx Capital. He joined The Continuum Group during their transi-tion to Morgan Stanley in 2013. Joseph is currently a member of the Financial Planning Association and enjoys spend-ing time with family and friends.

Joseph.Carmody@morganstanley.com 212-296-6207

Joseph Carmody, CFP®Associate Vice PresidentFinancial Advisor

Michael O’HaraAssociate Vice PresidentPortfolio ManagerFinancial Advisor

Michael is a graduate of Green Mountain College where he received his Bachelor of Science degree in Busi-ness. Michael is also a member of the Municipal Bond Club of New York and of the US Lacrosse Association.

Michael lives in Garden City, N.Y. and is currently pursuing an MBA in Management at Frank G. Zarb School of Business at Hofstra University.

Michael.OHara@morganstanley.com 212-296-6205

Meghan Ducey Consulting Group Analyst

Tara RaphaelWealth Management Associate

As Wealth Management Associate for The Continuum Group, Tara’s primary focus is on providing first-class cli-ent service and strategic operational support to the Group’s clients. Since moving to Morgan Stanley with the team in August 2013, she has gained a thorough understanding of internal processes and procedures allowing her to promptly handle a variety of client needs.

Tara manages the team’s participation in IPO, secondary stock, and preferred issues by tracking and researching the various deals Morgan Stanley has to offer. She guides clients through the account opening and enrollment pro-cesses, facilitates account reviews and interacts with many facets of daily cli-ent account maintenance. Tara is also the team’s point person for all client events ranging from interesting guest lecture series to cultural events. She is constantly exploring the many ways the team can reach their clients including through Social Media outlets.

Tara joined The Continuum Group in 2006 at Bear Stearns and Co. after graduating from the Alfred Lerner School of Business at The University of Delaware with a double major in Management and Marketing. Throughout college she was a member of Alpha Epsilon Phi and had held a position on their Executive Committee. Since graduating, Tara has earned her Series 7 and 66 licenses. She is a regular participant in the Alzheimer Walk to End Alzheimer’s and supports various other organizations.

Tara.Raphael@morganstanley.com 212-296-7785

Meghan is The Continuum Group’s Consulting Group Analyst. Her primary focus is Morgan Stanley’s managed money unit, assisting the Group in leveraging the firm’s intellectual capital in asset allocation advice, investment advisor research and portfolio construction. Meghan spends a significant amount of time monitoring performance and changes to the Morgan Stanley Wealth Management Strategic Equity Portfolios, dissecting and implementing asset alloca-tion models, tracking the Group’s discre-tionary portfolios performance, as well as conducting outside manager research.

Meghan is also involved in the Group’s Wealth Planning practice and provides access to lending services. She explores the breadth of Morgan Stanley’s special-ists. The group also relies on her as their Middle Markets group liaison, providing administrative services and trade support to institutional clients on the platform.

Meghan graduated from the Darla Moore School of Business at the Uni-versity of South Carolina in 2009. Upon graduating, Meghan immediately began her career in the financial services in-dustry as a Client Service Associate at UBS Financial Services, where she ob-tained her Series 7 and Series 66 licenses. She proceeded to join the group at J.P. Morgan Securities LLC in May 2011.

During college, Meghan was a member of the Chi Omega Fraternity and was actively involved with the Make-A-Wish Foundation, as well as the American Red Cross. She is an avid Gamecocks football fan and in her spare time, en-joys skiing, golfing, working out, and spending time with family and friends.

Meghan.Ducey@morganstanley.com 212-296-6208

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it starts with listening. We ask questions—regarding your needs and dreams, your tolerance for risk, your time horizon—and then listen. it’s an ongoing process through which we strive to learn all we can about you, your family, your business (if applicable) as well as your short- and long-term goals. This period of “discovery” helps us make informed recommendations and design a flexible wealth management plan that is uniquely yours.

We Work to understand the Full Scope of Your Financial Picture

To begin our process, we suggest

that you take a fresh inventory of

your wealth, including where each

asset is located and what it is worth.

Following, we will schedule a meet-

ing where we will begin by exploring

many questions to try to capture

what matters most to you and fully

understand what you want to

accomplish with your wealth.

We will talk about you, the kind of

lifestyle you enjoy, what worries

you and what you are passionate

about. our conversation will

explore your values, key relationships,

total assets, preferred manner of

communication, as well as identify

the other professional advisors with

whom you work. That way, our team

can help you determine how all the

facets of your financial situation

could dovetail effectively.

1 DiSCOveRy

2analySiS anD ReCOMMenDaTiOn

Based on your input, the team will

analyze your personal and financial

information, including liabilities,

assess risks and identify potential

threats to your financial health.

We will present you with a

personalized wealth plan that can

help address your income and cash

flow needs, borrowing requirements,

asset protection, retirement planning,

wealth transfer, philanthropy and

other areas beyond investment

management. By taking the

additional time to carefully review

these topics, we hope to make

you comfortable with proposed

investment strategies and service

providers before implementing

your wealth plan.

after you have approved your

wealth plan, we will work closely

with you to implement it, bringing

an objective approach, and paying

special attention to how the various

parts of your wealth plan can af-

fect, enhance and integrate with

each other. Wherever appropriate,

we will suggest seeking additional,

in-depth advice on particularly

complex issues we have identified,

including family dynamics, estate

planning, tax planning strategies

and more. Whatever approach we

decide on, the team will help you

keep your investments on track.

3 iMPleMenTaTiOn

We view ongoing communication

as the foundation of our successful

collaboration with you. We will

make every effort to keep abreast of

your changing financial needs. Your

financial documents provide the

foundation for regular meetings, and

the team will review your portfolio

at your request and whenever you

feel that your circumstances have

changed. We will then seek to make

certain that your assets are positioned

according to your evolving needs.

if necessary, we will suggest adjust-

ments to your strategy to address

changes in your circumstances or

your objectives.

4 Review

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our Services

aCCeSS TO lenDing anD BanKing SeRviCeS • Strategic credit management•Home Loans•Tailored Lending• Securities based lending

– Portfolio Loan Account – Express Credit Line

•Credit and debit cards•Checking accounts•Expense management•Margin

TRuST anD eSTaTe Planning •Review of current estate plan and advise on additional strategies•Wealth transfer strategies•Asset titling/structure•Estate tax funding•Gifting strategies• Beneficiary review• Family dynamics/governance• Family mission planning

PHilanTHROPiC SeRviCeS •Charitable giving strategies• Foundation and endowment investment strategies

Oneview anD MORgan STanley Online SeRviCeS •OneView —aggregation of all accounts including those outside of Morgan Stanley—brokerage, banking, checking, insurance•Online Trading•Access to full suite of Morgan Stanley Research•Account access inveSTMenT ManageMenT •Asset allocation strategies • Investment advisory programs•Capital markets services•Traditional brokerage•Discretionary asset management• Investment and estate plan integration•Tax-efficient investment strategies•Alternative investments—hedge funds, fund-of-funds, private equity, managed futures• Private placements for qualified investors

CORPORaTe exeCuTive COMPenSaTiOn ManageMenT •Concentrated stock services (monetizing and hedging strategies)•Rule 10b5-1 trading plans• Stock option strategies•Restricted securities (liquidation and risk management alternatives)•Assistance in estate and financial planning strategies (particular to executive compensation management)

inSuRanCe Planning • Life insurance •Health insurance • Long-term care insurance

BuSineSS Planning • Business needs review•Cash management and capital needs• Business valuation • Succession planning and funding

FinanCial anD ReTiReMenT Planning • Lifestyle review•Risk review• Income assessment•Education planning•Health Care/Medicare review• Pension and social security benefits analysis• Beneficiary review• Special needs child planning•Next generation education

inveSTMenT BanKing •Access to a suite of IB services including:

– Mergers & Acquisitions – Restructuring – Private Equity – Debt and Equity Capital Markets

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AWArDS

scott siegel barron’s top 100 advisor 2010

scott siegel barron’s top 100 advisor 2011

scott siegel barron’s top 100 advisor 2012

MeDiA APPeArAnCeS

Mehmet Kirdar guest on Bloomberg Turkey.Scott Siegel guest on CNBC.

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Morgan Stanley strives to offer clients the finest in financial thinking, products and execution to help them meet their individual needs and achieve their personal financial goals. When we work together, you’ll benefit from personalized advice, objective guidance and dedication to your success as an investor. With access to Morgan Stanley’s renowned global resources and investment opportunities, we can help you develop and maintain an optimal investment strategy. our wealth management strategy will address key areas of your financial standing beyond traditional investments and incorporate diverse recommendations for building and protecting your wealth.

522 Fifth Avenue15th Floor, new York, nY 10036

212-296-6211 / MAiN

855-622-5171 / Toll-Free 212-296-6395 / Fax

www.morganstanleyfa.com/thecontinuumgroup/Scott.Siegel@morganstanley.com Mehmet.Kirdar@morganstanley.com Michael.oHara@morganstanley.com

Joseph.Carmody@morganstanley.com Tara.raphael@morganstanley.com Meghan.Ducey@morganstanley.com

Source: Barron’s “Top 100 Financial advisors,” april 16, 2010-2012. Barron’s is a registered trademark of Dow Jones & Company, l.P. all rights reserved. Barron’s “Top 100 Financial advisors” bases its ratings on qualitative criteria: professionals with a minimum of seven years financial services experience, acceptable compliance records, client retention reports, customer satisfaction, and more. Financial advisors are quantitatively rated based on varying types of revenues and assets advised by the financial professional, with weightings associated for each. Because individual client portfolio performance varies and is typically unaudited, this rating focuses on customer satisfaction and quality of advice. For more information on rating methodology, go to http://online.barrons.com/report/top-financial-advisors or contact Barron’s associate editor, Matt Barthel, at matthew.barthel@barrons.com. The rat-ing may not be representative of any one client’s experience because it reflects a sample of all of the experiences of the Financial advisor’s clients. The rating is not indicative of the Financial advisor’s future performance. Neither Morgan Stanley Smith Barney llC nor any of their Financial advisors pay a fee to Barron’s in exchange for the rating.The investments listed may not be suitable for all investors. Morgan Stanley Smith Barney llC recommends that investors independently evaluate particular investments, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment will depend upon an investor’s individual circumstances and objectives.life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney llC’s licensed insurance agency affiliates.The views expressed herein are those of the author and do not necessarily reflect the views of Morgan Stanley Wealth Management or its affiliates. all opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Past performance is no guarantee of future results.Morgan Stanley Smith Barney llC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial advisors or Private Wealth advisors do not provide tax or legal advice. This material was not intended or written to be used, and it cannot be used, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. 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.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.Securities-based lending risks: Borrowing against securities may not be suitable for everyone. You should be aware that securities-based loans involve a high degree of risk and that market conditions can magnify any potential for loss. Most importantly, you need to understand that: (1) Sufficient collateral must be maintained to support your loan(s) and to take future advances; (2) You may have to deposit additional cash or eligible securities on short notice; (3) Some or all of your securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. You will not be entitled to choose the securities that will be sold. These actions may interrupt your long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.a., Morgan Stanley Private Bank, National association, or Morgan Stanley Smith Barney llC (collectively referred to as “Morgan Stanley”) reserves the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities-based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase your collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call your securities-based loan at any time and for any reason.Morgan Stanley Smith Barney llC (“Morgan Stanley”) is a registered Broker/Dealer, member SIPC, not a bank. Where appropriate, Morgan Stanley has entered into arrangements with banks and other third parties to assist in offering certain banking-related products and services. Unless specifically disclosed in writing, investments and services offered through Morgan Stanley are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, a bank and involve investment risks, including possible loss of principal amount invested. Trust and other fiduciary services are provided by third parties, including Morgan Stanley Private Bank, National association, a wholly-owned subsidiary of Morgan Stanley.

© 2014 Morgan Stanley Smith Barney llC. Member SIPC.  CrC 819128 02/14  CS 7824148 06/14