We've discussed the success of exchange-traded funds quite a bit. ETFs prove that there is room for innovation in the industry. Which brings us to so-called structured products. To a certain extent, it comes down to marketing. Morgan Stanley's Performance Leveraged Upside Securities (PLUS) product offers a lot to be marketed. The PLUS product is basically a note that trades on an exchange and is pegged to an underlying index, such as the S&P 500. The twist is the leverage, which holds out the hope that the customer can double the index's gain. Customers and advisors would be wise to read the terms carefully. According to one columnist, for index gains in the 2 percent to 12 percent range, the product makes the most sense.

For more:
- here's the MarketWatch column