Morgan Stanley’s Kirk Gill Subject Of Major Investor Disputes

Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) BrokerCheck profile for securities broker Kirk Gill (CRD#: 2291503, Tucson, Arizona) is problematic to say the least. Namely, a whopping 17 investors including clients of Morgan Stanley (Gill’s employer through 2016) took issue with his sales practices and filed complaints or FINRA Arbitration Claims to recover losses. Notably, these investor disputes suggest that Gill sold unsuitable and unreasonable investments. Not only that, but First Financial Equity Corporation, who Gill recently worked for from 2016 to 2018, disaffiliated with him over his failure to comply with the securities firm’s rules and a heightened supervision arrangement. Here’s more on the investor disputes.

Morgan Stanley Client Indicates That Kirk Gill’s Energy Securities Trades Were Not Suitable

First of all, a client of Morgan Stanley Smith Barney took aim at Kirk Gill through a complaint in February 2020. It appears that Gill sold unsuitable energy securities to this client who held those investments for several years. Apparently, the client sustained losses on those investments from 2013 to 2016. It is possible that Gill overlooked the client’s investment profile (e.g. risk tolerance, investment objectives, needs, age, experience). For this reason, the client demanded $525,000 from Gill or Morgan Stanley Smith Barney. However, this matter closed without further action by the client.

Gill Allegedly Sells Unreasonable, Inappropriate Investments To Second Morgan Stanley Client

Apparently, a second Morgan Stanley Smith Barney client disputed Kirk Gill’s actions per a March 2019 lawsuit. Namely, the client suggested that from 2013 to 2016, the client was not invested properly. Allegedly, Gill did not place the client in investments which matched the client’s risk profile or other suitability criteria. Remarkably, the client seeks $500,000 in losses as a result of Gill’s purportedly unsuitable trading or advice. Evidently, this dispute is ongoing.

Third Morgan Stanley Client Suggests That Kirk Gill Sold Bad Energy Stocks

Evidently, a third client of Morgan Stanley Smith Barney came forward to contest Kirk Gill’s recommendations or transactions. In January 2019, the client brought a lawsuit alleging unsuitable energy stocks from 2011 to 2016. It seems that the well-known turmoil in the energy sector over the last several years has caused many investors like this one to experience losses. Apparently, the client received compensatory damages of approximately $15,000 for Gill’s allegedly unsuitable transactions. Evidently, the matter settled in February 2020.

Other Investor Disputes Detail Gill’s Problematic Trading In Investment Accounts

Notably, the majority of investor disputes involving Kirk Gill relate to suitability. In one of the disputes, an investor took issue with Gill’s overconcentration in oil stocks. Basically, it was not suitable for Gill to invest so much of the client’s money in those speculative, volatile and high-risk investments, the customer indicated.

Also, an investor suggested in a different dispute that Kirk Gill made unsuitable recommendations. In addition, one of Gill’s clients indicated that he seemingly flouted the client’s objectives. Finally, a Salomon Smith Barney client suggested in a dispute that Gill made unauthorized trades, breached a contract, and breached a fiduciary duty. Evidently, the majority of claims concern Gill’s sales practices at Morgan Stanley. Evidently, no complaints are reported as of yet in regard to Gill’s actions at Taylor Capital Management – his employer from 2018 to 2019.

Losses From Morgan Stanley Securities Broker Kirk Gill?Lars Soreide AVVO 2020 Top Lawyer

Have you experienced losses by investing in unsuitable investments because of Kirk Gill? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning 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 incurred losses due to the misconduct of securities brokers and financial advisors.