Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Theodore William Byrer (also known as Ted Byrer) [CRD: 2980696, Indianapolis, Indiana].
Theodore Byrer previously worked for Morgan Stanley from November 2013 to April 2023, among other firms, including Raymond James & Associates, A.G. Edwards & Sons, and International Assets Advisory. Recent disclosures raise concerns about Byrer’s conduct, including allegations of unauthorized transactions, unsuitability of investments, and inappropriate communications with clients.
Unsuitable Investment Strategy at Morgan Stanley (2017-2023)
On October 16, 2023, a client of Morgan Stanley filed a FINRA arbitration claim (Case No. 23-02959), alleging that Byrer engaged in an unsuitable investment strategy involving exchange-traded funds (ETFs) between 2017 and 2023. The client sought $300,000 in damages. This matter settled on June 24, 2024, with Morgan Stanley compensating the client $77,500.
Unauthorized Transactions (2023)
On September 6, 2023, a trustee alleged that Byrer conducted unauthorized transactions involving the purchase of various metals in their account. The allegations resolved the same day, with Morgan Stanley paying $20,000 in settlement.
Pending Suitability Allegations (2019-2022)
On February 1, 2024, a client filed a FINRA arbitration (Docket No. 24-00237), alleging unsuitability of investments, including variable annuities and equity listed stocks, between January 2019 and August 2022. The matter is currently pending resolution.
Theodore Byrer's Employment Separation After Allegations
Byrer’s tenure at Morgan Stanley ended on March 23, 2023, when he was discharged due to allegations of entering transactions in client accounts without receiving prior verbal confirmation and engaging in off-platform written communications regarding firm business. According to Byrer’s statement, the transactions were based on implied discretion following strategic discussions with clients, and he denies any client harm or complaints.
Looking for more information about Theodore Byrer? If so, reach out to Soreide Law Group online here or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group takes cases on contingency, advances all necessary costs, and helps investors nationwide recover losses from sales practice misconduct, though outcomes may vary. Byrer and the firms he worked for deny accusations of sales practice violations.
