Morgan Stanley broker Edward Carchia Jr. (CRD# 1328905) is accused of unsuitable investment recommendations. He has been registered with Morgan Stanley in Paramus, New Jersey, from 2009 to 2022.
Edward Carchia Jr. Customer Complaints
He has been the subject of three customer complaints between 2013 and 2023, according to his CRD report. The most recent complaints are regarding:
December 2023. “Claimant alleged, inter alia, that the investments strategy executed in the client’s account was unsuitable 2010-2023.” The case was settled for $175,000. The complaint took place while he was registered with Morgan Stanley, and it was regarding exchange-traded funds.
March 2016. “Allegation including time frame: Claimants alleged, inter alia, that investments were unsuitable from 2006 through 2014.” The customer sought $500,000 in damages, and the case was settled for $20,000. The complaint took place while he was registered with Morgan Stanley, and it was regarding government debt.
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 Edward Carchia Jr.’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.
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