Broker Francis Aurino Allegedly Sold Unsuitable Investments

Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) reports troubling information in regard to securities broker Francis James Aurino (CRD#: 1754375, Beverly Hills, California). Namely, at least four of Aurino’s clients took issue with his sales practices. These disputes suggest that Aurino sold unsuitable investments and caused investors’ losses. Here’s more:

Morgan Stanley Client Indicates That Francis Aurino Sold Unsuitable Investments

Evidently, on October 28, 2019, a client of Morgan Stanley filed FINRA Arbitration #: 19-03229 regarding Francis Aurino’s sales practices. Allegedly, the securities broker sold the client unsuitable structured products and unit investment trusts. It appears that these products, which the client held from 2000 to 2019, were not appropriate because of the client’s risk tolerance, goals or other suitability criteria. For this reason, the client alleged $685,610 in damages in this ongoing matter.

Prior Disputes Suggest Aurino Sold Misrepresented Investments, Caused Investor Losses

Francis Aurino’s sales practice issues don’t just relate to his time at Morgan Stanley. In fact, a client of Citigroup Global Markets took issue with Aurino’s corporate debt sales. Mainly, the client suggested that Aurino’s bond sales were misrepresented and unsuitable. However, Citigroup denied the client’s complaint.

Also, a Salomon Smith Barney client took aim at Francis Aurino. According to the dispute, Aurino did not make changes to the client’s allocation to minimize losses from a market downturn. It seems that Aurino caused the client to experience losses on mutual funds, UITs and listed equities. Evidently, Salomon Smith Barney denied this complaint.

Losses From Investing With Morgan Stanley’s Francis Aurino?

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Have you experienced losses by investing with Morgan Stanley securities broker Francis Aurino? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of securities brokers like Aurino and their brokerage firms.