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Customers Suing Morgan Stanley Over Unsuitable Equities

Kirk J. Gill (CRD: 2291503) is a former Morgan Stanley financial advisor from Tucson, Arizona. According to Gill’s FINRA BrokerCheck file, he is currently, or was previously, referenced in fifteen customer-initiated, investment-related disputes (comprised of complaints or FINRA arbitrations) containing allegations of sales practice violations including unsuitable trading, unauthorized trading, misrepresentation, breach of contract and breach of fiduciary duty. The customers’ disputes, including the following, concern Gill’s activities between 2001 and 2018 – a timeframe that he worked for FINRA member firms Merrill Lynch, Pierce, Fenner & Smith Incorporated, Salomon Smith Barney and Morgan Stanley.

March 15, 2018 Arbitration #18-00762: The Morgan Stanley customer alleged unsuitability with respect to investments in stock, corporate-debt and direct participation program/limited partnership interests. The customer is seeking $901,369 in damages as a result.

August 2, 2017 Arbitration #17-02003:  Customers of Morgan Stanley alleged that over-the-counter equities placed in their investment accounts between 2013 and 2016 failed to be suitable for the them. The customers agreed to be paid $275,000 in damages to settle the matter.

August 3, 2016 Arbitration #16-02230:  Several Morgan Stanley customers contended that between August 2011 and November 2013, Gill made inappropriate stock recommendations for their investment accounts. Consequently, the customers are collectively seeking $500,000 in damages. 

November 18, 2002 Arbitration #02-06770:  A customer of Salomon Smith Barney alleged, inter alia: unauthorized trading of equities; breach of contract; breach of fiduciary duty; and unsuitability. The firm settled with the customer for $30,000 in damages. 

July 22, 2002 Complaint:  The Salomon Smith Barney customer alleged that over-the-counter equities purchased for the customer’s account were inappropriate. The customer also brought claims of breach of fiduciary duty and misrepresentation. Salomon Smith Barney denied the customer’s claim on November 19, 2002.

Person ceased employment with Morgan Stanley on April 14, 2016. He was later employed by First Financial Equity Corporation; however, he was permitted to resign on May 23, 2018 based on the firm’s contention that Gill failed to acquiesce to the terms and conditions of a heightened supervision plan. He has since become registered with Taylor Capital Management Inc. in Woodstock, Georgia.

If you have lost money by investing with Kirk J. Gill or another broker, contact Gregory Tendrich today for a review of your case and discussion of your legal options. Gregory Tendrich, P.A. is dedicated to recovering losses for investors who have fallen victim to unsuitable and unauthorized trading, as well as other sales practice violations committed by brokers and their firms.

Gregory Tendrich, PA
Gregory Tendrich, P.A. serves clients throughout Florida, including the cities of West Palm Beach, Palm Beach, Delray Beach, Boynton Beach, Boca Raton, Port St. Lucie, Lake Worth, Wellington, Riviera Beach, Palm Beach Gardens, Fort Pierce, Vero Beach, Hobe Sound, Jupiter Island, North Palm Beach, Lake Park, Lantana, Stuart, Palm City, Jensen Beach, Tequesta and Juno Beach and represents clients in Palm Beach County, Martin County, St. Lucie County, Indian River County and throughout Florida.

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