Category Archives: Morgan Stanley

Richard W. Martin-Former G.F. Investments Services Broker-Discloses Issues Over Sale of ETFs

July 2017-Malaysia

The FINRA records of  Richard William Lunn Martin ,  a  former stockbroker who was last  employed by  G.F. Investment Services, disclose a  prior regulatory matter, 15 customer disputes, a current investigation and 2 terminations from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In April 2017, Martin was permanently barred by FINRA to resolve allegations that he solicited, purchased and recommended that his customers hold non-traditional exchange traded funds (ETFs) in their accounts for lengthy periods of time, despite the enormous risks of holding non-traditional ETFs for more than one trading period.

Martin discloses numerous settlements to customers who invested in ETFs, including the following:

In FINRA case #15-2500 a customer of G.F. Investment Services  sought damages of $450,000 for unsuitable recommendations to invest in ETFs. That case was settled for $290,000 in May 2016.

In FINRA case #14-3679 a customer of G.F. Investment Services  sought damages of $2,000,000 for unsuitable recommendations to invest in ETFs. That case was settled for $500,000 in December 2014.

IN 7/2009 Martin was ‘permitted to resign’ from Latam Investments who made the following allegation on his FINRA record: “A painting belonging to the CEO of the firm was discovered missing. Upon review of the video recording from the office monitoring system the firm positively identified Mr. Martin removing the painting from the CEO’s office early in the morning and then exiting the main door with the painting”. 

In July 2015, Martin was ‘permitted to resign’ from G.F. Investment Services who made the following allegation; “FINRA Case 20150445876 opened 3/25/2015. Wells Letter received by Mr. Martin 7-7-2015”

Martin’s prior employers include:

  • G.F. Investment Services
  • Global Strategic Investments
  • Latam Investments
  • Morgan Stanley Dean Witter

If you have losses in an account handled by Richard William Lunn Martin, call to learn about your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Anthony J. Verzi-Former Morgan Stanley Broker-Discloses Customer Dispute/Regulatory Sanction Over UIT Sales-Melbourne, FL

The FINRA records of Anthony J. Verzi ,  a  stockbroker who formerly was employed by Morgan Stanley disclose a final regulatory event and a pending customer dispute, both of which relate to the sale of Unit Investment Trusts (UITs).

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 12/2016 a Morgan Stanley customer filed a complaint seeking unspecified damages alleging that their investments in unit investment trusts (UITs) were recommended to them in order to generate commissions.

In October 2016 FINRA commenced an investigation into Verzi’s potential unsuitable trading of UITs in customer accounts. Verzi refused to appear for on the record testimony in that investigation and in June 2017 consented to a bar from associating with any FINRA member in any capacity.

Verzi was employed by Morgan Stanley from 1983 until 8/2016.

If you have losses in an account  handled by Anthony J. Verzi  call for a no charge consultation to learn your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jeffrey R. Wilson-Wells Fargo Broker-Loses Arbitration to Customer Over Energy and Real Estate Investments-Las Cruces, NM

May 2017-Las Cruces, NM

The FINRA records of  Jeffrey R. Wilson  ,  a  stockbroker who is currently  registered with Wells Fargo Clearing Services disclose a recent arbitration award to a customer and 2 other prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March 2017, following a three day hearing,  a FINRA arbitration panel ordered Wells Fargo to pay  a former customer of Wilson $357,000, plus 8.75% interest, for damages related to investments in energy and housing products and the use of a margin line of credit. Pryor vs. Wells Fargo Advisors, Case #16-01123. 

In December 2016, Wells Fargo paid another Wilson customer $250,000 to settle allegations that direct investments purchased in 2014-2015 were unsuitable.

In October 2016, Wells Fargo paid a Wilson customer $275,000 to resolve allegations that the account had been excessively traded in unsuitable and risky investments.

Wilson   has been employed by Wells Fargo since 5/2014. Prior to that he was employed by Morgan Stanley.

If you have questions about an account  handled by Jeffrey R. Wilson , contact us to discuss your options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing, oil and gas, hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Patrick D. Combs-Former Morgan Stanley Broker-Discloses Customer Dispute and Suspension by FINRA-Southlake, TX

May 2017-Southlake, TX

The FINRA records of  Patrick D. Combs  ,  a  stockbroker who is currently suspended by FINRA and who was last registered with IMS Securities disclose a pending customer dispute, a final regulatory event and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Combs discloses case 048-283087-16 pending in Tarrant County District Court alleging unspecified damages related to a 2012 non-broker affiliated investment.

IN 3/2017 Combs was suspended by FINRA for 7 months and fined $7,500 to resolve allegations that he participated in a private securities transaction without providing written notice to Morgan Stanley. The customer invested $500,000 in a promissory note in a privately held sports drink company. FINRA findings state that Combs submitted false answers concerning the private securities transaction in annual compliance questionnaires.

Combs  was employed by Morgan Stanley  from 6/2009-3/2016He was terminated by Morgan Stanley who made the following allegation on his FINRA record: “Allegations regarding employee’s conduct regarding the use of personal email to facilitate a private securities investment for a firm client.”

Combs was then employed briefly 3/2016-4/2016 by Houston-based IMS Securities.

If you have questions about an account  handled by Patrick D. Combs , contact us to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Vincent P. Afflixio-Morgan Stanley Broker-Discloses $500K Customer Dispute-Hauppauge, NY

May 2017-Hauppauge, NY

According to publicly available records Vincent P. Afflixio, Jr. , (CRD#1043147 ) ,  a  stockbroker who is currently registered with Morgan Stanley discloses a pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA case #17-0189, a customer of Morgan Stanley Smith Barney alleges damages of $500,000 for unsuitable trading in his accounts from 2009-2016.

Vincent Afflixio has been registered with Morgan Stanley since 6/2009.

If you have questions about an investment account handled by Vincent P. Afflixio, Jr. call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

John R. Gunnip-Morgan Stanley Broker-Discloses Customer Dispute-Southlake, TX

April 2017-Southlake, Texas

According to publicly available records John R. Gunnip , (CRD# 1398442) ,  a   stockbroker who works for Morgan Stanley discloses a pending customer dispute and 3 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the currently pending dispute, a customer  of Morgan Stanley alleges damages of $265,000 for unsuitable investments in equities and a managed/wrap account.

Gunnip has been employed by Morgan Stanley since 6/2009.

If you have questions about an account handled by John R. Gunnip, call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Kirk Gill-Former Morgan Stanley Broker-Discloses Numerous Customer Complaints-Tucson, AZ

April 2017-Tucson, AZ

The FINRA records of  Kirk J. Gill ,  a  stockbroker who is currently  employed by  First Financial Equity Corp.  disclose 5 pending customer disputes and 7 prior final customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

The currently pending disputes include:

  • FINRA Case 17-0335 – a customer of Gill’s  former employer Morgan Stanley Smith Barney alleges damages of $500,000 for unsuitable investments from 2010-2016.
  • FINRA Case 16-2230- another customer of  Morgan Stanley Smith Barney alleges damages of $500,000 for unsuitable investments from 2011-2015.
  • FINRA Case 16-1758-another customer of Morgan Stanley Smith Barney seeks  an unspecified amount for damages resulting from an overconcentration of high risk, unsuitable, equities from 2010-March 2016.

Kirk Gill has been employed by First Financial Equity Corp since 3/2016. He was with Morgan Stanley from 6/2009-4/2016.

If you have losses in an account in an account handled by Kirk Gill  , you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870