Soreide Law Group is investigating possible investor claims against securities broker Ron Keith Phillips [CRD#: 2823393, Walnut Creek, CA]. Phillips has worked for Morgan Stanley since 2009 and UBS Financial Services Inc. from 2002 to 2008.
Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that Morgan Stanley and UBS Financial Services investors disputed the sales practices of the securities broker. Evidently, investors allege sales practice violations in these disputes. Here is a brief summary of the disclosures about Phillips:
Evidently, on April 1, 2022, a Morgan Stanley client filed an investment-related complaint about Ron Phillips. Specifically, the client alleged that Phillips failed to manage the client's account in the client's best interest. Because of this, the client purportedly experienced damages pertaining to investments in managed accounts. Therefore, the client requested compensation from Morgan Stanley or Phillips. Evidently, the firm denied this complaint.
Also, a client of MSSB contested Ron Phillips’ sales practices by filing FINRA Arbitration #: 21-02599 on October 14, 2021. Supposedly, Phillips engaged in sales practice violations relating to the management of the client's account. Allegedly, transactions in managed accounts had caused the client to sustain damages. Therefore, the client seeks compensatory relief from MSSB or Phillips in the amount of $250,000 in this ongoing matter.
Evidently, a UBS Financial Services client filed an investment-related complaint about Ron Phillips. Specifically, the client alleged that Phillips sold or recommended auction-rate securities, resulting in damages. Therefore, on December 23, 2008, UBS Financial Services settled this matter by paying the client $575,000.
Also, a client of Citigroup GMI contested Ron Phillips’ sales practices, according to a complaint. Supposedly, Phillips made unsuitable transactions. Allegedly, the mutual funds transactions involving this securities broker caused the client to sustain damages. Therefore, Citigroup GMI opted to settle the matter on February 12, 2004, by compensating the client in the amount of $13,400.
Did you sustain damages by investing with Ron Phillips? If so, reach out to Soreide Law Group at (888) 760-6552 to speak with a securities lawyer regarding a possible recovery of your investment damages. Notably, Soreide Law Group has successfully recovered money for hundreds of investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Phillips and brokerage firms Phillips associated with deny any and all allegations of sales practice violations.
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