Options trading is the product at issue in a pending claim that names Kevin Forrest of Morgan Stanley. Forrest (CRD 5873266) is the broker on the disclosure. The claim is an unproven allegation, and no arbitrator has ruled on it.
March 2025 brought settlements in the newest customer disputes on Raul Benitez's BrokerCheck report, both at Truist Investment Services. Benitez (CRD 4457185) also has earlier settled disputes that name Suntrust Investment Services.
The clients filed docket 24-00149 on January 22, 2024. They alleged that Raul Benitez made unsuitable recommendations and misrepresentations in September 2014 and March 2015. BrokerCheck lists an annuity as the product.
The claim sought $500,000 in damages. It settled on March 6, 2025 for $44,000.
A client filed docket 23-03225 on November 7, 2023, alleging that the investment was unsuitable. Raul Benitez's report shows the claim sought $500,000 and settled on March 4, 2025 for $93,000.
At Suntrust Investment Services, a client filed docket 21-01667 on July 6, 2021. The client alleged that a Northstar investment was unsuitable. That claim sought $218,707 and settled on September 9, 2022 for $175,000.
Before that, a customer complaint filed February 11, 2019 concerned a recommendation for a managed, fee-based account. It sought $10,837 and settled on March 11, 2019 for $8,486. Raul Benitez's report lists Suntrust Investment Services on both.
A fee-based or managed account charges a yearly percentage of assets instead of a commission on each trade. That can suit an investor who wants ongoing advice and regular trading. For a buy-and-hold investor who rarely trades, though, the yearly fee can cost more than commissions would.
Regulators call that mismatch reverse churning, and firms review whether the account type fits the customer. On a fee-based account, we add up the fees and set them next to the trading the account actually had. The 2019 complaint on Raul Benitez's report involved this kind of account recommendation.
Customer claims usually name the brokerage firm, not only the broker. Every FINRA member firm must keep a supervisory system and written procedures for overseeing its brokers. Supervision covers the accounts, the trades and the correspondence its brokers handle. If a firm misses a problem it should have caught, it can be held responsible for the customer's losses. That makes supervision one of the main questions in many FINRA arbitrations. It matters for recovery too: the firm, not the broker personally, is usually the party with the means to pay.
Every FINRA member firm must supervise its brokers. Investors with questions about an account Raul Benitez handled can call Soreide Law Group at (888) 760-6552. You can also reach us online. Our attorneys represent investors in FINRA arbitration nationwide. We take these cases on a contingency fee basis. You can read more about how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of November 11, 2026. Allegations in customer complaints and arbitrations are claims, not findings. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
Options trading is the product at issue in a pending claim that names Kevin Forrest of Morgan Stanley. Forrest (CRD 5873266) is the broker on the disclosure. The claim is an unproven allegation, and no arbitrator has ruled on it.
Morgan Stanley is the firm named in a pending customer arbitration against Maria Balkunas that seeks $1,251,843. Balkunas (CRD 5663648) is the broker on the disclosure. The claim's allegations are unproven, and no arbitrator has ruled on them.
March 2025 brought settlements in the newest customer disputes on Raul Benitez's BrokerCheck report, both at Truist Investment Services. Benitez (CRD 4457185) also has earlier settled disputes that name Suntrust Investment Services.
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