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Morgan Stanley

United States

Consumer complaints and reviews about Morgan Stanley

Tmlmv Send email
 
Nov 18, 2017

fraud

Stockbrokers are all thieves

fraud

User191620 Send email
 
Mar 31, 2012

fruad

Morgan Stanley lost my companies 401k saving for all our employees.
We were told it would be a safe investment rated AAA
We did not choose anything aggressive in terms of investing. It was supposed to be secure most importantly a safe investment. Morgan Stanley made reckless trades, some trades consisted of selling and rebuying the same investment. They did this to make a commission on the sale and purchase of the same instrument.
There was no point in the buy and sale. It made no money for us, but each time they did that we had to pay the commission fee.
User925702 Send email
 
Mar 31, 2012

fruad

Don't trust financial ad-visors they are employed to make commissions from your investment even if that generate losses for you. They don't want to lose a account because they make commissions each year of the account they keep therefor they will convince you to hang on to your investment even when they know a company stock goes down hill, this cos ted us $20, 000.00. I requested from our advisor our yearly IRA mandatory distribution checks he claimed that both checks were sent to our address but I only received one that is pay to the order with my name with an distribution amount for my wife. I question our advisor about that, he could not explain in clear words what happen. The other distribution check, he explained take longer to sent because that IRA retirement account was placed in a joint account with Morgan Stanley therefor it will take longer to clear. We are unaware that any of our investment could be held in a joint account with Morgan Stanley.Obvious he was not telling me the truth that he have sent out 2 checks. Our family suppose to have a household service account for a flat fee of $126.00 per year. I been charged as an individual for more than $126.00 and my wife a extra $ 77.00 and so is the rest of my family. In addition they sell your shares from your investment to pay themselves a handsome fee and tell you they not charge you anything for their service.

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