Former Morgan Stanley Financial Advisor of Mystic CT Sued

Former Morgan Stanley Mystic, Connecticut financial advisor Denis O'Brian, was sued on Thursday, October 31st by Morgan Stanley's wealth management division. They claimed O'Brian falsified 206 client phone numbers before leaving the firm according to an article in Reuters.

Allegedly, O'Brien changed the phone numbers for 156 client accounts on the firm's computer systems the afternoon of his resignation October 25, while taking his clients' contact list to solicit them at his new job at Raymond James Financial, also of Mystic, Connecticut. According to the claims, O'Brien changed many of the phone numbers by just a single digit, preventing Morgan Stanley financial advisors from reaching his clients after he left.

O'Brien had worked at Morgan Stanley Mystic, Connecticut since August, 2004. O'Brien had notified Morgan Stanley that he was taking the client list, and left a copy with the correct phone numbers with the firm. Morgan Stanley was unaware of the discrepancy between the list and the altered computerized records, the complaint said. O'Brien violated an agreement upon joining Morgan Stanley nine years ago that he would not attempt to solicit clients for a year after leaving.

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