Nordo Nissi In Morgan Stanley Client’s Suitability Dispute

Morgan Stanley Investor Complains About Broker Nordo Nissi's Investment Recommendations

Soreide Law Group comes to you with an update in regard to securities broker Nordo Mauro Nissi (CRD#: 1666385, Boston, Massachusetts) who is involved in three investment disputes. Notably, the securities broker, who worked for Morgan Stanley (2004 to 2018) and MS Howells (2018) faces disputes alleging sales practice violations. In addition, Nissi received FINRA sanctions for alleged misconduct. For more on these disclosures, read on.

Morgan Stanley Client Alleges Unsuitable Recommendations By Nordo Nissi

Evidently, in the most recent investor dispute about Nordo Nissi, a client of Morgan Stanley alleged sales practice violations. In this February 2020 FINRA Arbitration Claim, the client first alleged that Nissi’s investment advice was not suitable. It involved the client allegedly having an overconcentration in risky investments. Secondly, the securities broker allegedly misrepresented facts and omitted things regarding the client’s investments. Thirdly, Morgan Stanley is accused of failing to supervise Nissi. For allegations of unsuitable recommendations, misrepresentation and failure to supervise, the client demanded $500,000 in compensation. Evidently, this matter is ongoing.

Massachusetts Regulator Requires Nissi To Be On Heightened Supervision Because Of Complaints

In October 2018, Massachusetts Securities Division ordered Nordo Nissi to be on heightened supervision as a securities broker because of his past. Namely, the regulator pointed out 16 adverse disclosures. Three of them relate to client complaints. A fourth concerns Nissi’s voluntary resignation from Morgan Stanley Wealth Management amid allegations of his failure to disclose information regarding an outside registered investment advisor who Nissi was involved with. Evidently, heightened supervision for Nissi means that his employer has to monitor his activities more closely, and the securities broker has to regulatory submit compliance information to his firm regarding his securities business.

Nordo Nissi Supposedly Sells Unsuitable Variable Annuity To Client

Also, a client of Morgan Stanley Smith Barney came forward to contest Nordo Nissi’s sales practices involving a variable annuity sale. Mainly, the client contended in this April 2018 complaint that Nissi sold unsuitable investments at Morgan Stanley Smith Barney. It appears that Morgan Stanley denied this client’s complaint.

Unauthorized Trading Alleged By Investor

In the first two disputes involving Nordo Nissi, clients allege failure to follow instructions and unauthorized trading. The first dispute involved a Wachovia client who alleged that the securities broker sold stocks against their wishes. As a result, the client received compensation in a settlement. However, the other dispute, which involved a Morgan Stanley Smith Barney client, was denied.

Losses Through Nissi?

Did you suffer losses because of securities broker Nordo Nissi? If you have, call Soreide Law Group at (888) 760-6552 and talk with a securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for those who have experienced losses because of their financial advisors and securities brokers. Evidently, Nissi denies all allegations of his sales practice violations.
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