The Financial Industry Regulatory Authority (FINRA) provides important information in regard to securities broker Barry Lee Garapedian (CRD#: 1039257, Westlake Village, California). It appears that the disclosures involving Garapedian mainly concern his employment at Morgan Stanley. He worked at the firm’s CA offices from 2009 to 2021. Let’s take a closer look at the allegations of unsuitable trading as reported on BrokerCheck. But be mindful that the securities broker denies committing any unreasonable sales practices.
It seems that a Morgan Stanley Smith Barney client disputed Barry Garapedian’s actions as a securities broker, according to an investment dispute in August 2021. Specifically, the investor alleges unreasonable sales practices, including unsuitable ETF trades for the client’s account. Notably, Garapedian allegedly caused the client to experience damages in 2016 and 2017 as a result of his actions. Therefore, the client demands that the securities firm pay them $1,414,268.49 in damages. It appears that this matter is currently unresolved.
Specifically, a client of Morgan Stanley expressed concerns about Barry Garapedian’s sales practices, per an investor dispute on BrokerCheck dated February 2021. It appears that Garapedian or his employer caused damages to the client through their managed account investments. The investor purportedly had been misled about distributions from their account. However, the securities firm and broker disagreed with the allegations and denied the dispute in May 2021.
Evidently, Morgan Stanley permitted the securities broker to resign in January 2021 for the way in which he submitted transactions. Supposedly, he caused another representative to have a shortfall of revenue.
It appears that a Morgan Stanley Smith Barney client took issue with Barry Garapedian’s actions in April 2018. The investor’s causes of action include unsuitable trading, overconcentration, and excessive fees. Supposedly, the client realized damages because of Garapedian’s actions concerning equities, ETFs, and closed end funds. Notably, the client agreed to settle their allegations with Morgan Stanley Smith Barney, as the firm agreed to pay the client $110,000 in damages in November 2018.
Particularly, a client objected to Barry Garapedian’s actions as a securities broker while working for Morgan Stanley. Evidently, the client filed an arbitration claim in March 2018. Mainly, they allege unsuitable recommendations by the securities broker. Consequently, the client contends that Garapedian’s actions caused damages on unit investment trusts (UITs), exchange traded funds (ETFs), and closed end funds. Evidently, the firm agreed to settle with the client, without admitting liability, by paying them $170,000 in damages per a settlement in July 2019.
Particularly, a client objected to Barry Garapedian’s actions as a securities broker when working for MSSB. According to the October 2017 dispute, Garapedian caused the client to face damages via his unsuitable recommendations relating to ETFs and variable annuities. It appears that after reviewing the allegations, MSSB denied the dispute and the client’s request for compensation.
Did securities broker Barry Garapedian cause you to suffer losses? You should get in touch with Soreide Law Group at (888) 760-6552 and chat with a skilled securities lawyer regarding a possible recovery of your losses. We take cases on a contingency fee basis and advance all costs. The firm has helped many US investors recover compensation when they have sustained losses from their financial advisors or securities brokers. Please note that Garapedian denies the allegations of his improper sales practices.
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