Morgan Stanley Clients Indicate Laurence Braunstein Sold Unsuitable Investments
Soreide Law Group is reviewing potential investor claims against securities broker Laurence Michael Braunstein (CRD#: 1220577, New York, New York). Notably, clients of Braunstein’s brought disputes alleging that he engaged in sales practice violations. It is possible that Braunstein sold investors unsuitable securities. Here’s more.
Morgan Stanley Client Indicates Laurence Braunstein Sold Unsuitable Investments
Evidently, Laurence Braunstein worked for Morgan Stanley until June 2015. Mainly, the client indicated in this February 2020 complaint that the securities broker sold unsuitable investments. It appears that the client invested in municipal bonds from 2014 to 2019 because of Braunstein. However, these transactions were purportedly inconsistent with the client’s suitability profile. For this reason, the client asks for compensation in this ongoing matter.
Braunstein Possibly Made Misrepresentations With Variable Annuity Sales
Notably, a client brought a FINRA Arbitration Claim regarding Laurence Braunstein in July of 2018. Among other things, the client indicated that Braunstein misrepresented a variable annuity. It is possible that the securities broker made untrue or misleading statements to the client to induce a purchase. For this reason, the client received approximately $10,000 from Morgan Staley to resolve this matter in August 2019.
Morgan Stanley Settles Client’s Complaint About Laurence Braunstein’s Mutual Fund, UIT Sales
Evidently, a third Morgan Stanley client took aim at Laurence Braunstein via an August 2016 lawsuit. Particularly, the client alleged that the securities broker unsuitably invested the client in mutual funds and UITs. Supposedly, these investments did not match up with the clients’ investor profile and resulted in losses.
Prior Disputes About Braunstein
Moreover, BrokerCheck shows that First Allied Securities settled a dispute about Laurence Braunstein. According to the customer, Braunstein concealed risks. Not only that, but the client indicated that the broker breached a fiduciary duty. Supposedly, the client invested in bad mutual funds and UITs because of Braunstein. Evidently, the client received $125,000.00 to settle the matter.
Did Laurence Braunstein Sell You Unsuitable Investments?
Have you experienced losses by investing with Laurence Braunstein? 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 firm has recovered millions of dollars for investors who have suffered losses due to misconduct of securities brokers and financial advisors. Braunstein denies all allegations of his misconduct.