How Investors Can Sue Former Morgan Stanley Financial Advisor Travis Dillard
Posted on Thursday, July 20th, 2017 at 8:43 am
Erez Law is currently investigating former Morgan Stanley financial advisor Travis Dillard (CRD# 1741428) regarding unsuitable investment recommendations. Dillard has been registered with Wells Fargo Clearing Services, LLC in Tucson, Arizona since August 2015. Previously, he was registered with Morgan Stanley in Tucson, Arizona from 2009 to 2015.
Dillard has been the subject of six customer complaints between 2003 and 2016, according to his CRD report:
October 2016. “Claimant alleged, inter alia, unsuitability with respect to investments in accounts – 2011 to 2015.” The client sought $500,000 in damages and the case was settled for $87,500.
August 2016. “Claimants alleged unsuitability with respect to equity investments in accounts – 2014 to 2016.” The client sought $95,000 in damages and the case was settled for $30,000.
August 2009. “Claimant alleges, inter alia, that from December 2005 – 2008 financial advisor did not properly manage her account.” The client sought $1 million in damages and the case was settled for $50,000.
March 2009. “It is alleged that investment purchased on June 1, 2007 was unsuitable for customer.” The client sought $100,000 in damages and the case was settled for $10,000.
April 2003. “Claimant alleges breach fiduciary duty, unsuitability, failure to follow directions, breach of duty of fair dealing, negligence, lost opportunity, failure to supervise, respondeat superior and securities fraud. The time period appears to be from 1/2000 through 11/2002.” The client sought $300,000 in damages and the case was settled for $97,500.
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 Dillard’s customers.
Erez Law represents investors in the United States for claims against former Morgan Stanley financial advisor Travis Dillard, who is alleged to recommend unsuitable investments. If you were a client of Morgan Stanley or another firm, and 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.