Morgan Stanley Portfolio Management Group: Established in 1979 to provide investors with a level of personalized portfolio management typically reserved for major institutional clients All portfolios are managed individually on a fully discretionary basis by a local portfolio manager Asset based advisory fee with no trading commissions Portfolio Management Group offers you: Direct access to your portfolio Personalized service from a dedicated professional A disciplined, interlinked investment process Ongoing and comprehensive client communications and reporting Our Mission: Deliver excellence through our thought process and investment action: • Accurately assess each client’s true objectives and translate them into capital market exposure that strives to effectively achieve these goals • Consistently fulfill the highest standards in client communication in terms of timeliness, education and relevance Be your primary financial advisor / portfolio manager: • Whether you have one or several advisors, we understand that most affluent investors have a fundamental need for a loyal and trusting relationship with one go to financial advisor • We can work with you under either scenario, but strive to be that key financial advisor What Differentiates the Upland Group: • We are your portfolio managers, not simply middlemen between the client and the portfolio manager • We have 60* years of combined backgrounds in research, strategy, and security analysis • Past positions* include: President and CEO of asset management firm, Director of Research, Chief Investment Officer, and Senior Portfolio Manager Our Investing Mindset Our team has two main investing strategies, Growth and Balanced, both utilize a core equity approach where return objectives are less benchmark oriented, but rather more personalized, specifically to help meet client risk aversion and income needs Security selection includes • Top down and bottom-up analysis • Seeking growth-at-reasonable prices • Tactical Asset Allocation We Avoid Attempts to Generate Returns From • Shorting • Foreign debt as a direct holding • Leverage Stock Characteristics We Typically Avoid • Story stocks with no history of earnings • Excessive valuations • Over leveraged balance sheets Our Team: R Stephen Bartholow is a co-founder of the Upland Group at Morgan Stanley, Stephen shares the roles Portfolio Manager, Financial Advisor and works as an investment strategist to help clients meet their objectives As a result his time as Chief Investment Officer at Carret Asset Management, and as Portfolio Manager for Cowen Asset Management, a division of Cowen & Co he has extensive experience serving high net worth clients and institutional accounts Stephen graduated from Southern Methodist University in 1988 with a BS in Economics and Finance He is a member the investment committee of the Stony Brook School Endowment Funds, serving as their Chairman for several years Stephen enjoys tennis, cycling and sporting clays Coe Kerr is a co-founder of the Upland Group, and also shares the roles of Portfolio Manager, Financial Advisor, and works as an investment strategist for the team Coe has nearly 40 years of diverse experience in the financial services industry, including portfolio management, investment research and equity analysis He spent 12 years working for Carret Asset Management as a Senior Portfolio Manager, and President and CEO for six years Prior to that, he was a Portfolio Manager for H.G Wellington & Co working with private clients, and Director of Research for Tucker Anthony, including serving on the Executive Committee and the Board of Directors He has also worked as an equity analyst for firms including Lehman Brothers, Kuhn Loeb, Pain Webber Mitchell Hutchins and Dean Witter Reynolds Coe graduated from Boston University in December 1972 with a BA in History He was the Treasurer of the Waterfowl Research Foundation, and enjoys gardening, sporting clays and restoring boats Stephanie Young, Portfolio Associate/Financial Planning Associate is responsible for the day-to-day operations of the team She manages client account maintenance as well new client relationships and operational procedures She holds the FINRA Series 7, 31, 66 and Health/Life/Annuity Licenses She has worked at Morgan Stanley for over ten years Prior to joining Morgan Stanley Stephanie worked in the Financial Aid Department at Champlain College in Burlington, Vermont Stephanie enjoys gardening, reading, and hiking This material is intended only for clients and prospective clients of the Portfolio Management program It has been prepared solely for informational purposes only and is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or other financial instrument, or to participate in any trading strategy The individuals mentioned as the Portfolio Management Team are Financial Advisors with Morgan Stanley participating in the Morgan Stanley Portfolio Management program The Portfolio Management program is an investment advisory program in which the client’s Financial Advisor invests the client’s assets on a discretionary basis in a range of securities The Portfolio Management program is described in the applicable Morgan Stanley ADV Part 2, available at www.morganstanley.com/ADV or from your Financial Advisor 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 appropriate 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 Asset Allocation does not assure a profit or protect against loss in declining financial markets Morgan Stanley Smith Barney LLC Member SIPC CRC 3402371 01/2021 ... is a co-founder of the Upland Group at Morgan Stanley, Stephen shares the roles Portfolio Manager, Financial Advisor and works as an investment strategist to help clients meet their objectives... other financial instrument, or to participate in any trading strategy The individuals mentioned as the Portfolio Management Team are Financial Advisors with Morgan Stanley participating in the. .. relationships and operational procedures She holds the FINRA Series 7, 31, 66 and Health/Life/Annuity Licenses She has worked at Morgan Stanley for over ten years Prior to joining Morgan Stanley