Meridian Wealth Management Option Losses?

The Meridian Wealth Management Group, at Morgan Stanley, headed up by Michael J Wagner, CFP, as the executive director and Michael K Spector as a senior vice president, is located at 3280 Peachtree Rd NE, Suite 1900, Atlanta, Georgia. Some of the Meridian Group advisors have had several recent actions filed against them. One such action that was filed against Morgan Stanley, their supervising broker dealer, was filed by Soreide Law Group.

Currently, Soreide Law Group, on behalf of our client, has a $500,000 case pending against Morgan Stanley for failed call options strategies. It appears that the Meridian Wealth Management Group, who allegedly markets their options strategies as conservative, has generated other complaints from their clients as well.   

According to BrokerCheck, available on FINRA’s website, the following two brokers have “Customer Disputes” listed against them regarding options.

MICHAEL J WAGNER (CRD#: 4465334) currently listed with Morgan Stanley in Atlanta, Georgia, has been in the securities industry for 20 years and has been listed with 2 firms. Wagner has 3 disclosures on his FINRA CRD report listed on his FINRA BrokerCheck.  All 3 disclosures are “Customer Disputes.”  There was a dispute filed on November 3, 2020, with allegations of, “Claimants alleged misrepresentation with respect to option strategy in managed accounts - January 2019 to January 2020.”  This dispute settled for $1,500,000.00. A dispute filed in 2021 was denied.  A dispute filed November 1, 2021 is pending.  The allegations are, “Client alleged FA (Financial Advisor) employed unsuitable options investment strategy.”  The requested damages are $15,708,558.00.

MICHAEL K SPECTOR (CRD#: 2857657), according to FINRA’s BrokerCheck, available to the public on FINRA’s website, has one “Customer Dispute” listed on his FINRA CRD report dated November 1, 2021.  The allegations are, “Client alleged FA employed unsuitable options investment strategy.” The requested damages are $15,708,558.00.  Spector has been in the securities industry for 24 years and has been listed with 5 firms.  He is currently also with Morgan Stanley in Atlanta, Georgia.

If you’ve suffered financial losses due to the actions or recommendations of Morgan Stanley’s Meridian Wealth Management Group, contact Soreide Law Group, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.