Erez Law is currently investigating former Morgan Stanley broker Alexander Fischman (CRD# 5902109) regarding misrepresentation leading to investment losses. He has been registered with Wells Fargo Advisors Financial Network, LLC in Hackensack, New Jersey, since 2025.
He was registered with Morgan Stanley in Paramus, New Jersey, from 2021 to 2025, when he was terminated regarding, “Allegations regarding the movement of client positions between different account types.” He was previously registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Stamford, Connecticut, from 2016 to 2021, Dinosaur Financial Group, L.L.C. in New York, New York, in 2016, and Laidlaw & Company (Uk) Ltd. in New York, New York, from 2013 to 2016.
Alexander Fischman Customer Complaints
He has been the subject of five customer complaints in 2025, one of which was denied, according to his CRD report:
August 2025. “Client alleges, inter alia, misrepresentation with respect to commissions charged on equity trades and placement fee on alternative investment 2024-2025.” The case is currently pending.
July 2025. “Client alleges misrepresentation with respect to managed account fees 2025.” The case is currently pending. The complaint was regarding managed and wrap accounts.
July 2025. “Client alleges, inter alia, misrepresenation with respect to commissions charged on trades and rate charged on advisory account 2024-2025.” The case is currently pending. The complaint was regarding managed and wrap accounts.
July 2025. “Client Alleged That It Was Improper For Fa Team To Make Stock Purchases In His Commission Based Account And Then Transfer The Positions To His Managed Account Where He Would Be Assessed An Advisory Fee On The Positions In Addition To The Commissions He Paid To Make The Purchases 2024-2025.” The case was settled for $195,713.69. The complaint was regarding stock losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Alexander Fischman’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
"*" indicates required fields
