Personal finance and investment is a hot topic in 2021, but managing your own finances is not for everyone, and it does not have to be. If finance isn’t your field, but you want to be sure your investments and assets are working for you, it might be time to hire a pro

Lucky for Parkites, the Graystone Consulting DC-SLC team brings local expertise to town—with the full backing and resources of global financial powerhouse Morgan Stanley. Graystone Consulting is the institutional consulting business of Morgan Stanley. The team works locally with private clients in Park City as well as institutions back East. They are also focused on providing consulting services to both middle markets institutions and high net worth individuals, and can help assist with most wealth management needs. 

At its core, wealth management is the process of building a picture of your wealth and assets while helping you to plan and achieve short- and long-term financial goals. This process can help you build a nest egg for the future and make your money work for you by investing it wisely. 

Michael Ruzek CFP, CIMA, an Institutional Consultant and Resident Manager based out Graystone Consulting’s Park City, Utah office, has substantial experience in this service by advising private wealth clients and foundations around the country. After over 20 years in the field, Ruzek says a large part of what he does is managing emotions. 

“We help people avoid letting their emotions drive their decisions,” says Ruzek. “The things that get people more than anything are emotions, namely fear and greed. These cause people to make the wrong decision at the wrong time. We like to be a sounding board and a safety net.” 

With an office in Park City, clients with complex needs or who need a sounding board can meet with the consulting team in person. But this boutique business also has access to the vast resources of Morgan Stanley so you can get big city service without traveling to find it. 

The vast majority of the Graystone Consulting DC-SLC team’s high net worth clients are current or former business owners looking to effectively manage their wealth and assets. Most find the team through old-fashioned word-of-mouth referrals.

“Honestly, most of our business is referral based. We hadn’t done any marketing before appearing in Scout Guide and find a lot of existing clients referring friends and family,” says Ruzek. 

He believes people who choose to invest with the Graystone Consulting DC-SLC team enjoy knowing they have a local team working for them that can help to ensure clients have their bases covered for investments and tax planning strategies so they can focus on what is important to them, whether that’s family, recreation, or simply being retired.

Ruzek says that whether you choose with our team at Graystone Consulting or any other financial firm, the investments are likely to be similar. He believes “It’s really the relationship and trust that people have in our team that makes the difference.” 

“It’s often a lot of hand-holding,” says Ruzek. “It’s people going through liquidity events, divorce and having to deal with financials for the first time. Or having a death or mental incapacitation in their family.” 

As an investment consultant, the team acts as a fiduciary for the advice they provide clients to help them manage these complex and challenging financial circumstances. 

Legacy Planning

But for less complex client scenarios, the basic onboarding process for Ruzek is quite simple. It starts (in the COVID times at least) with an hour- to an hour-and-a-half Zoom call. To prepare for this call, Ruzek recommends having your account information, securities, stock options, life insurance, mortgage, and anything part of your financial picture available to discuss.
During the Zoom call, the team learns about your financial goals, where you are now, where you want to be financially, and how their team can come in and add value.

“We put together a financial plan and we use it as a point in time to take inventory of everything and collect disparate pieces that comprise your financial world,” says Ruzek. “We put a dynamic plan together. Whether you want to sell your business or buy a vacation home, we can model scenarios on a real-time basis.” 

“This is a way we’re helping people focus their time on what matters most. That’s more time to be with their families, their businesses or having fun, all while having the confidence that an educated, dedicated team is staying on top of current events and tax law changes,” says Ruzek. “We help manage this side of their world for them.”

The Graystone Consulting DC-SLC team is able to offer “impact investing” through Morgan Stanley to clients who prefer to match their portfolios to their values. This means finding investments that help with poverty, hunger, diversity, environmental issues, or avoiding companies that support causes that the client does not agree with. 

Impact investing is “an expanding part of the marketplace,” according to Ruzek, with a lot more intention going into portfolios and investments. New screening methods also allows the team to track whether your portfolio is leaning into or away from your values.

Graystone Consulting DC-SLC Park City Team

In Park City, the team is comprised of six experienced individuals, with the balance of the team located in Maryland they total 10 people and manage over $1.5B in assets under management as of the end of 2020. Ruzek has been working as an investment manager for private clients since 1999; Forbes has recognized him as a Best-In-State Wealth advisor in 2020 and 2021.  Around the nation, there are over 55 Graystone teams specializing in consulting to institutional and high net worth clients, trade associations, endowments, and foundations. 

If you are interested in learning more about planning your financial future, reach out to Ruzek or the Graystone Consulting DC-SLC team to set up a consulting call over Zoom or in person. 

Story by Jenny Willden for The Scout Guide Park City

Michael Ruzek is an Institutional Consultant with Graystone Consulting, a division of Morgan Stanley Smith Barney LLC, in Park City, UT. The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. 

The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria.

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.  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.

Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Forbes Best-in-State Wealth Advisors ranking was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and are not indicative of future performance or representative of any one client’s experience. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors pay a fee to Forbes or SHOOK Research in exchange for the ranking. For more information, see www.SHOOKresearch.com

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Investments and services offered through Morgan Stanley Smith Barney LLC. Member SIPC.  Graystone Consulting is a business of Morgan Stanley.

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