Were You a Client of Former Morgan Stanley Broker, STEVEN M. WYATT?

Soreide Law Group has been investigating claims by clients regarding the former Morgan Stanley broker;
STEVEN M. WYATT (CRD# 2522129) Alternate Names: STEVE MARK WYATT
During Wyatt’s five years with MORGAN STANLEY SMITH BARNEY of RIDGELAND, MS, his supervisors noted his problematic behavior and business patterns many times but failed to step in, according to documents. Wyatt’s former clients claim that they lost about half of their money, or approximately $50 million.
Wyatt oversaw more than $100 million in client money. He was fired in 2012, two years after concerns were raised.
Allegedly, Steven M. Wyatt, 44, fell into depression and had suicidal feelings, triggered by the financial crisis and its aftermath. He claimed his supervisors never offered help or expressed concern.
Wyatt and his immediate supervisor were barred from the securities industry for life. Morgan Stanley was also instructed to create a $4.2 million fund to reimburse clients, which according to the clients, was a small amount of what they feel they lost with Wyatt.  Dozens of clients are claiming losses due to Wyatt and feel that Morgan Stanley was negligent for not paying closer attention to him.  In three arbitrations so far, Morgan Stanley has paid out around $3 million.
Wyatt was fired in June 2012 when allegedly Morgan Stanley was presented with evidence that Wyatt had been using a personal email address to encourage his clients to buy investments that he held in his own private accounts.
STEVEN M. WYATT, according to FINRA’s BrokerCheck, was registered in the securities industry for 17 years, has had 10 Customer Disputes, and is permanently barred.  The firm listed below is his most recent:
06/2009 - 07/2012 MORGAN STANLEY SMITH BARNEY - RIDGELAND, MS
If you were a client of STEVEN M. WYATT, formerly with Morgan Stanley of Ridgeland MS, and you suffered losses, call Soreide Law Group and speak to an attorney at no cost regarding the possible recovery of your investments at:  888-760-6552.
Soreide Law Group represents our clients nationwide and operates on a contingency fee.