Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brad Burton (Burton), currently associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Burton recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on July 19, 2023.
The client alleges her former advisor recommended she transfer funds from her employer sponsored plans to a managed account without mentioning that the income from one of the plans is tax exempt from NY state. She claims the formerly tax-exempt income from the retirement account was made taxable when commingled with the other plan which has caused her city and state tax obligations to increase each year since 2019. She asks to be compensated.