Ricki Silverman Facing Morgan Stanley Client’s Unsuitable Advice Complaint

Investors potentially sustained damages through securities broker Ricki Jay Silverman [CRD: 1219439, Fort Lauderdale, Florida], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Silverman worked for Morgan Stanley from October 20, 2011, to July 8, 2022. Below, you’ll find a summary of the securities broker’s disclosures.

Morgan Stanley Investor Accused Silverman Of Unsuitable Recommendations

Also, on January 24, 2024, a Morgan Stanley client filed a complaint about Ricki Silverman. Mainly, the client alleged that Silverman made unsuitable recommendations. Because of this, the client allegedly sustained damages on variable annuities and corporate bonds. For this reason, the client requested damages in compensation from Morgan Stanley or Silverman.

Ricki Silverman Fined By FINRA For Providing False Records

Evidently, FINRA issued Case: 2011030155302 on March 27, 2013, sanctioning Ricki Silverman. Allegedly, Silverman’s assistant changed or deleted numerous telephone numbers without the knowledge or authorization of the clients. Therefore, Silverman caused his firm to create and maintain inaccurate records in violation of federal securities laws. Because of this, he was fined $5,000 and suspended from association with any FINRA member in any capacity.

Silverman Disclosed Misrepresentation Allegations By Citigroup Global Markets Inc. Client

Also, a client of Citigroup Global Markets Inc. contested Ricki Silverman’s sales practices, according to a complaint. Allegedly, Silverman misrepresented information about a variable annuity. As a result, Citigroup Global Markets Inc. opted to settle the matter on August 7, 2008, by compensating the client in the amount of $18,306.

Citigroup GMI Investor Accused Ricki Silverman Of Misrepresentation

Specifically, on March 10, 2008, a Citigroup GMI client filed a complaint about Ricki Silverman. Supposedly, Silverman made misrepresentations regarding stocks, margin use, equities, and bonds. For this reason, the client requested $40,000 in compensation from Citigroup GMI or Silverman. However, the securities firm denied this dispute.

Did You Sustain Losses Because Of Silverman?

Have you experienced losses due to financial advisor / securities broker Ricki Silverman? You could get in touch with Soreide Law Group online or at (888) 760-6552 and speak to a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has obtained recoveries for many investors throughout the United States, works on a contingency fee basis, and advances all costs. Silverman and brokerage firms Silverman worked for deny accusations of sales practice violations.