Kirk Crossen Terminated From Raymond James Over Internal Probe

Soreide Law Group is currently investigating potential claims on behalf of investors who may have sustained losses due to the actions of Kirk James Crossen [CRD: 2742256, Carmel, Indiana]. Specifically, Crossen worked for Raymond James Associates Inc. in Carmel, Indiana, from April 12, 2023, to November 16, 2023, and he previously worked for Morgan Stanley in Indianapolis, Indiana, from September 16, 2016, to May 8, 2023. Notably, Raymond James Associates Inc. disaffiliated with Crossen recently. Additionally, Crossen faces a client’s allegations of unsuitable trading while at Morgan Stanely. Here’s more on those disclosures.

Raymond James Associates Inc. Discharges Crossen As Securities Broker

Evidently, on October 31, 2023, securities firm Raymond James Associates Inc. disaffiliated with Crossen. Basically, the firm alleged that Crossen was not cooperative with the firm during an inquiry into a loan from a former client at a prior firm.

Kirk Crossen Accused Of Unsuitable Investment Strategy By Morgan Stanley Smith Barney Client

Also, a client of Morgan Stanley Smith Barney contested Kirk Crossen’s sales practices by filing FINRA Arbitration: 23-03162 on October 30, 2023. Allegedly, Crossen executed an investment strategy in the client's account that the client viewed as unsuitable. It appears that Crossen's actions led to the client incurring damages on stocks between 2022 and 2023. Therefore, the client seeks compensatory relief from Morgan Stanley Smith Barney or Crossen in the amount of $6,000,000 in this ongoing matter.

What Are Unsuitable Recommendations?

Unsuitable recommendations in the context of investments refer to the advice or suggestions given by a financial advisor or broker that don't align with a client's financial situation, objectives, or risk tolerance. Essentially, it means recommending investments that aren't a good fit for the client's needs or goals, which could lead to unnecessary risk or financial loss for the client. This might include advising high-risk stocks to a risk-averse individual or complex financial products to someone with limited investment knowledge.

Contact Soreide Law Group

Did you experience losses because of Kirk Crossen? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has a notable record of recovering losses for investors across the United States and operates on a contingency fee basis, meaning they advance all costs. Crossen and the brokerage firms he was associated with deny accusations of sales practice violations.