The Kline-Densmore
Group at Morgan Stanley
Smith Barney
133 NW Racetrack Road
Ft. Walton Beach, Florida 32547
850-863-7270
 / Main
877-392-7955 / Toll- F ree 850-863-7271 / fa x
www.morganstanley.com/fa/theklinedensmoregroup
The Kline-Densmore Group
at Morgan Stanley Smith Barney
As the financial world becomes more complex and investment choices
multiply, careful planning becomes ever more important to helping you
achieve your financial goals. As Financial Advisors, our role is to work
with you to help you develop a plan that lays out a clear path to your
goals — ​a plan that we develop in collaboration with you, and one that
you can follow with confidence in the face of the market’s ups and downs.
Together, we will explore a broad range of topics that are likely to
influence your financial future — ​from your family situation to your
career aspirations, from likely education expenses to the retirement
you ultimately envision. What we learn will become the foundation for
a financial and investment strategy based on who you are and where
you want to go. Only then will we talk with you about the details of
investing: how much risk makes sense, your asset allocation, and which
investments are right for your portfolio.
But that’s just the beginning. Over time, we will revise your plan to
reflect new aspirations and priorities, helping your plan keep pace as
the markets change and your life unfolds.
T h e K li n e- Densmore Grou p
3
Meet the Professionals
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Morga n Sta n le y Sm i t h Ba rn e y
Nancy H. Kline
Ted Densmore
First Vice President
Financial Advisor
First Vice President
Financial Advisor
An investment professional in the financial services industry since 1985,
Nancy began her career with Merrill
Lynch as a Sales Assistant and rapidly
advanced to Financial Consultant, Senior Financial Consultant and as Vice
President of Private Client Group. In
2010, she joined Morgan Stanley Smith
Barney to take advantage of the breadth
of resources available within the firm.
Her responsibilities include Financial
and Estate Planning, Asset Management,
Portfolio Management and Long Term
Life Management. Nancy is a licensed
Financial Advisor and licensed Investment Advisory Agent.
Nancy is a true Floridian, born and
raised in Fort Walton Beach, Florida.
Except the time she spent earning her BS
Degree in Marketing and Management
from the University of South Alabama,
she has lived and worked her entire adult
life in the Florida panhandle. Nancy
is an avid outdoorsman, enjoying the
Gulf Coast with her four children and
four grandchildren. Among her contributions to the community are past
Board Member to Bridgeway Center,
Co-Chairman for fund raising Okaloosa County Special Olympics, Board
Member of the Pandora’s Summerhouse
Children’s Invitational Golf Tournament, Ambassador to the Able Trust
A Foundation created by the Governor
of Florida for its disabled citizens and
a very active member of the Trinity
United Methodist Church.
An experienced Financial Advisor since
1984, Ted began his career with Merrill
Lynch. He later joined Morgan Stanley
Smith Barney in 2010 with his team to
provide an enhanced platform of services
to their clients. He currently holds his
Series 7, 63, 65 and 31. His areas of focus include: Wealth Accumulation and
Protection and Retirement Planning.
Born at Fort Benning, Georgia, Ted
grew up all over the world as part of an
Army Family. He graduated with a business
degree from Jacksonville State University
in 1984. Ted is an active member in his
community and has served as President
of the Sonic Lions Club, Choctaw Touchdown Club and Shalimar Little League.
He currently resides in Ft. Walton Beach,
FL with his wife, Barbara and two sons,
David and Will. When out of the office,
Ted enjoys spending time with his family
and boating.
T h e K li n e- Densmore Grou p
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William D. Kline
First Vice President
Financial Advisor
Financial Advisor
An investment professional in the financial services industry since 2001,
William originally went to work with
Merrill Lynch as a Financial Advisor. He
founded and managed a private hedge
fund prior to joining Morgan Stanley
Smith Barney in 2010. His primary
responsibilities within The Kline &
Densmore Group include investment
analysis and financial problem solving. He currently holds his Series 7, 3,
9, 10 and 66.
He is originally from Fort Walton
Beach, having moved back after spending time in Atlanta and Washington
DC. He graduated with a degree in
Industrial and Systems Engineering
from The Georgia Institute of Technology Summa Cum Laude. William
lives in Destin, Florida with his wife of
many years Gina, and their two wonderful daughters Abigail and Amelia.
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Morga n Sta n le y Sm i t h Ba rn e y
He enjoys spending his free time with
his family traveling and enjoying the
beach. He is actively involved with
many local charities, particularly the
Special Olympics.
Since 1982, Greg has worked in the
financial services industry focusing
on working with high net worth individuals and business owners to help
them meet their short-term and longterm goals taking a financial planning
based approach. This approach helps
his clients navigate all of their critical
financial planning decisions.
Greg graduated from the U.S. Naval
Academy in 1974. After flying for six
years, Greg decided to leave the Navy
and start his career in the financial
service industry. Greg is married to
Janet and they live in Niceville, Florida.
Rhonda H. Lee
Sue Powell
Senior Registered Client Service Associate
Senior Registered Client Service Associate
Rhonda has been in the financial services industry since 2000, where she
has served in various positions. She
started her career with UBS and later
joined Morgan Stanley Smith Barney
in 2007 as a Senior Registered Client
Service Associate. She currently holds
her Series 7 and 66 licenses. Rhonda’s
role is comprised of performing client
transactions while providing quality
client service. She also assists the team’s
Financial Advisors.
Rhonda is originally from Salem,
Virginia and a graduate of Roanoke
College with a Bachelor of Science
degree in Mathematics and Statistics.
Rhonda and her family now reside in
Niceville, Florida since her husband,
Mark’s retirement from the Air Force.
They have two sons, Johnathan and
Scott, and enjoy traveling.
Sue Powell has been in the financial
services industry since 1999 beginning
her career as with SII Investments Inc.
in Appleton, WI. In 2005, she joined
Morgan Stanley Smith Barney as Branch
Operations Manager. In 2006, she took
a big leap and transferred to the Gainesville, FL branch as a Branch Manager
Assistant. In 2010, her husband retired
from the USAF and their family moved
to NW Florida area where she returned
to work with The Kline-Densmore Group
and Gregory Hurst as a Senior Registered
Client Service Associate. She currently
holds her Series 7, 63 and 66. She assists
with the team’s administrative functions and can help with any questions
or requests regarding client accounts.
A resident of Niceville, Florida, Sue
enjoys spending time with her husband,
Bill, and daughter, Keira, fishing on
their boat and traveling the country.
Client Service Associate
While having been a registered assistant
with the financial services industry
for 12 years previously, Kelly worked
as an office manager for a local dentist
for 6 years before returning to Morgan
Stanley Smith Barney in 2010 with The
Kline-Densmore Group. Her responsibilities for the team include the group’s
overall day-to-day scheduling of client
and business meetings, while enhancing
client service and coordinating client
relationship events.
A resident of Ft. Walton Beach since
1987, Kelly enjoys spending time with
her daughter, Riley and son, Andrew.
She stays busy supporting her children
in their athletics, fundraising with their
schools and athletic organizations. Kelly
also enjoys spending her time along
the gorgeous Emerald Coast walking,
fishing and traveling.
T h e K li n e- Densmore Grou p
7
Creating Your Plan
To be truly effective, your plan must reflect the totality of your
personal and financial life. Our role is to help ensure that your
investment objectives are consistent with pressing financial concerns
and your long-term aspirations.
These four steps were developed to
achieve that goal:
1 Setting your financial objectives
Through a process of discovery and
discussion, we will work with you to
articulate your aims for your wealth.
Together, we will examine your current
and future liabilities, income sources
and cash flow needs, and then consider
factors that might influence your overall
strategy, including tolerance for risk,
tax concerns, liquidity needs and time
horizon. Through careful analysis, the
team will look for potential gaps that
may exist between you and your goals,
and develop sound strategies to help
smooth the path.
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Morga n Sta n le y Sm i t h Ba rn e y
2 Creating your strategy
Working from our understanding of you
and your objectives, we will propose
a financial plan that contains specific
strategies designed to help meet those
goals. Our advice may encompass issues
such as retirement planning, business
continuation, tax minimization potential and wealth transfer. You will also
receive an asset allocation strategy
designed to provide diversification for
your portfolio.
3 Implementing your strategy
After discussing and refining your strategy, we will work closely with you to
bring the elements to life. Should we
decide together that outside money
managers are appropriate for you, the
team will draw on in-depth research
and analysis to help you select from the
hundreds of investment management
firms available to you. If you prefer to
invest in individual securities, we can
help identify specific stocks, bonds and
other securities that may be suitable for
your portfolio. Whatever approach we
decide on, we will help you keep your
strategy on track.
4 Reviewing objectives
and performance
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 and provide
viable strategies to help you meet them.
This means reviewing your portfolio
together at your request. When your
circumstances change, we will work
with you to revise your strategy and
reposition your assets to reflect your
new needs and goals.
For Life’s Most Important Goals
With an experienced professional and the right resources,
reaching your most important goals can be less challenging and
more rewarding. We are ready to help you meet your goals,
by combining our insight into your needs with the resources of
Morgan Stanley Smith Barney.
Setting a confident course
Thorough, thoughtful planning — ​planning that analyzes where you are as well
as where you want to go — ​is the most
important step in establishing a path
to your goals. We will work with you
to explore and define your objectives
and needs, and then structure a plan
that is uniquely your own.
Giving back through philanthropy
Many successful individuals seek opportunities to support cultural and
educational institutions, and nonprofit
organizations and activities. Properly
undertaken, charitable giving can provide planning flexibility and benefits
for you. We can help you analyze and
implement a strategy that rewards you
while it benefits causes you care about.
T h e K li n e- Densmore Grou p
11
2,500
Financial Advisors have access to
top-flight research from
both Morgan Stanley and Citi, and
to the center for investment
excellence , a proprietary source
of market research and actionable
investment ideas.
Morgan Stanley Smith Barney is
the only firm that has a sales
and trading business dedicated
exclusively to serving the needs of
our wealth management clients.
MSSB has the most
comprehensive manager
due-diligence team in
the industry.
global companies
tracked
210
independent
capital markets
professionals
1,000
30
manager research
professionals
investment
products
For suitable investors, a team of
dedicated research analysts track
alternative investment
strategies implemented by the
most sought-after fund managers.
One of the World’s Strongest Investment
Organizations Stands Behind Your Financial Advisor
Information as of 08/08/2011 unless otherwise indicated
Please read important disclosures on the back cover of this brochure
200
unique strategies
300
research analysts
A CULTURE of
EXCELLENCE
OvER ThE yEARs, yOU hAvE mAdE mAny finAnCiAL dECisiOns.
OnE in pARTiCULAR is LikELy TO hAvE A LAsTing impACT
On yOUR wELL bEing And ThAT Of yOUR fAmiLy:
ThE ChOiCE Of A finAnCiAL AdvisOR.
30
dedicated
research analysts
Investors who choose Morgan Stanley
Smith Barney often tell us that their reasoning is simple. They choose a Financial
Advisor — and a firm — that mirrors the
values propelling their own success: a
commitment to perform at the highest
level for their clients, with no shortcuts,
compromises or excuses.
The combination of Morgan Stanley
and Smith Barney brings together two
firms that have demonstrated those
values for decades. Firms with a reputation for achieving the objectives of the
world’s most sophisticated and demanding
investors. Firms whose Financial Advisors have earned the confidence and
helped to achieve the goals of many of
the nation’s most successful individuals,
their families, as well as corporations,
foundations and endowments.
In melding our two firms, we created an organization that truly exceeds
the sum of its parts. Whatever your
investment goals, and however you
prefer to pursue them, Morgan Stanley
Smith Barney offers you more flexibility,
more capability, and more insight than
you are likely to find anywhere else.
Morga n S ta n le y SM i t h Ba rn e y
13
choice / gloBa l i nSigh t a n d oPPort u n i t i eS
Investment insight without limits
Morgan Stanley Smith Barney has a presence in every major
asset class and every major market, as well as investment
research from some of the world’s most respected analysts.
Our culture values lively debate and an open exchange of
ideas as the basis for distinctive, sophisticated strategies.
We translate our insights into your financial success.
intellectual capital , global
perspective. As a client, you have ac-
cess to the strategic and tactical views
of some of the world’s most seasoned
and respected investment professionals.
The members of our Global Investment
Committee develop strategies that guide
the management of advisory accounts
and help to inform the decisions of clients
across Morgan Stanley Smith Barney.
The team is currently supported
by the work of 300 analysts at two of
the world’s largest investment banks,
Morgan Stanley and Citi, who cover key
geographic and economic sectors, as
well as 2,500 individual equity securities. This research is directly available
to individual clients, as are the market
insights, research and analytic views of
fixed income and equity desks focused
on the needs of individual investors.
Your Financial Advisor can bring all of
these resources to bear on your portfolio.
s o p h i s t i c at e d s t r at e g i e s ,
rigorous risk management. The
Global Investment Committee is an
especially valuable resource to you and
your Financial Advisor. The committee creates model portfolios based on
rigorous statistical techniques — which
guide both institutional and individual
investors and reflect a range of time
horizons, risk profiles and wealth levels.
Also, the committee makes tactical suggestions based on an astute analysis of
the investment landscape. It is all done
with an eye on achieving the most efficient balance of risk and return to help
maximize the likelihood of successfully
meeting your objectives.
a premier trading and execution
platform. Our ability to execute your
investment strategy is second to none.
Morgan Stanley Smith Barney is one
of the only wealth management firms
with a stand-alone, principal-driven
capital markets platform dedicated
to the needs of individual investors
and Financial Advisors. Think of our
210 capital markets professionals as
experienced, highly responsive and
knowledgeable partners.
the full spectrum of investm e n t c h o i c e s . In our investment
advisory services program, you also
have access to a variety of mutual funds,
including a group of funds that are
vetted and continuously monitored
by 30 manager research analysts and
investment professionals — one of the
largest such groups in the industry.
These specialists are responsible for an
open-architecture platform that includes
more than 1,000 investment vehicles
and strategies — again, a broader offering
than that of any other investment firm.
You have the flexibility to choose any
of these vehicles, with guidance from
a Financial Advisor focused solely on
your best interests.
pe rsonal / PerforM a nce
Performance that
seeks to meet
your measure
a profound understanding of wealth
management needs
Business Strategies
Charitable Pursuits
Education Funding
Estate Planning
Integrated Planning
Investment Management
Liquidity
Retirement
Risk Management
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Morga n S ta n le y SM i t h Ba rn e y
Our goal is to understand
which personal and financial
measures are most important to you — and then to
exceed them.
Your personal financial advisor. Among the most important skills
of our Financial Advisors is the ability
to listen: to thoroughly understand
your financial needs and then align the
resources to meet them. Your Financial
Advisor can help you evaluate immediate concerns and plan for long-term
goals, be a sounding board for your
investment ideas, and assist you in
developing and executing a strategy
that is precisely your own. When you
give your Financial Advisor discretionary responsibility for managing
your account, he or she abides by the
highest fiduciary standards, putting
your interests ahead of the firm’s or
his or her own.
Your Financial Advisor is your
advocate within our firm, an intelligent editor who selects and aligns the
many capabilities of Morgan Stanley
Smith Barney for you. From investments to banking and lending services
to trusts, your Financial Advisor can
help meet unique needs on both sides
of your balance sheet. Clients who
morgan stan le Y s m ith barn e Y / a S t rong Pa i ri ng
Vast experience
Drawing on many years of experience, Morgan Stanley
Smith Barney understands the importance of shaping
relationships that reflect client needs, preferences and
aspirations. Your Financial Advisor can help you define
and meet your goals by delivering the right resources
to you in the way that is most appropriate for how you
invest and what you want to achieve.
managing personal wealth to
institutional standards. Our vast
global firm serves many of the world’s
most sophisticated and demanding institutional investors. As an individual
investor at Morgan Stanley Smith Barney,
you’ll benefit from the market insight,
global presence, risk management resources and analytical rigor that drive
our institutional relationships. You
will experience the highest standards
of client service and responsiveness,
enhanced by the personal attention and
commitment of your Financial Advisor.
the knowledge to get it done. As
the nation’s leading manager of personal
wealth, we understand that there are
almost as many approaches to managing
wealth as there are portfolios to invest.
are part of our Reserved program
also enjoy around-the-clock service
and exclusive seminars devoted to
the needs of high net worth clients.
th e va lu e of a le arn i ng cu lture . The firm’s Financial Advisors
are among the most experienced and
capable in the industry — many have
advanced degrees and professional certifications and designations.
Morgan Stanley Smith Barney makes
a sizeable investment in the training
and professional development of each
Financial Advisor. Our continuing
education programs are designed to
equip Financial Advisors with new
skills and perspectives. We want every
client to reap the benefits of the culture
of excellence of our firm.
Our firm and Financial Advisors have
an in-depth understanding of virtually
all the challenges, goals, preferences,
styles and strategies that distinguish
wealthy investors. Additionally, as a
truly global financial institution, we
have an equally acute knowledge of
financial opportunities and the potential
risks. This combination positions us to
develop, structure and execute strategies for your most important financial
needs, from accumulating wealth to
investing for income, from creating
retirement reserves to devising a distribution approach that meets your
lifestyle and legacy goals. At the same
time, we invest in innovative tools that
help simplify your financial life on a
day-to-day basis.
Our 17,600 Financial Advisors represent an extensive knowledge base
built on diverse skills, experience and
professional interests. We make this
collective knowledge available to every
client by facilitating advisor collaboration, encouraging an environment where
Financial Advisors can share asset allocation approaches, highly focused
strategies, and specific investment ideas
to unusual or particularly sophisticated
client needs.
Away from the office, our Financial Advisors volunteer their time and
leadership skills to thousands of local
organizations. They are at the forefront
of the firm’s commitment to give back
generously to the communities where
our clients live and work.
Please read important disclosures on the back cover of this brochure
a strong, ste adY force i n a chang i ng i n dustrY
And senior management
team with deep wealth
management experience
CEO
130
Years of combined
experience
800
Global locations
17,600
7
Financial Advisors
Client accounts
million
$1.7
Client assets
trillion
special resources for families
with exceptional requirements.
Successful families with substantial assets typically have complex needs and
require highly integrated capabilities.
Family Wealth Advisors brings together
the resources of Morgan Stanley Private
Wealth Management and Smith Barney’s
suite of family office services. This
organization focuses on the intricacies
of multigenerational wealth transfer,
family ownership structures, complex
tax reporting, succession planning and
family governance. Our clients work
with professionals who have extensive
experience addressing both the financial issues and personal dynamics of
America’s wealthiest families.
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Morgan Stanley Smith Barney 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 Smith Barney’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
life beyond traditional investments and may incorporate diverse
recommendations for building and protecting your wealth.
Morgan Stanley Smith Barney offers a wide array of brokerage and
advisory services to its clients, each of which may create a different
type of relationship with different obligations to you. Please contact
us to understand these differences.
Asset allocation and diversification do not guarantee a profit or
protect against loss.
Morgan Stanley Smith Barney LLC (“Morgan Stanley Smith Barney”) is
a registered broker-dealer, not a bank. Where appropriate, Morgan Stanley
Smith Barney has entered into arrangements with banks and other
third parties to assist in offering certain banking-related products and
services. Unless otherwise specifically disclosed to you in writing, in© 2011 Morgan Stanley Smith Barney LLC. Member SIPC.
vestments and services offered through Morgan Stanley Smith Barney,
member SIPC, are not insured by the FDIC, are not deposits or other
obligations of, or guaranteed by, banks and involve investment risks,
including possible loss of principal amount invested.
Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley
Smith Barney Financial Advisors do not provide tax or legal advice.
This material was not intended or written to 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.
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