• May 29, 2024
• Emerson Equity LLC

Brandon Lane Morrow (CRD#: 3037943) is a Registered Broker with Emerson Equity LLC, in Irvine, CA.

 

Broker’s Background

He entered the securities industry in 2000 and previously worked with UMB Scout Brokerage Services, Inc.; Nathan & Lewis Securities, Inc.; Waddell & Reed, Inc.; Behringer Securities LP; Realty Capital Securities, LLC; Triton Pacific Securities, LLC; and Preferred Capital Securities, LLC.

 

Current and Past Allegations of Conduct Leading to Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in February 2024, Brandon Morrow became the subject of customer dispute alleging, “misrepresentation and omission of investment information.” The damage amount requested was $900,000 and the customer dispute was settled.

 

In addition, Brandon Morrow has been the subject of two other disclosures:

• March 2008—Cease and Desist initiated by First Community Bank: “ALLEGES RR REMOVED CONFIDENTIAL CUSTOMER FILES FROM HIS FORMER EMPLOYER, FIRST COMMUNITY BANK, AND WAS UNJUSTLY ENRICHED BY THAT INFORMATION. ALLEGES THAT RR IS IN DEFAULT OF HIS PROMISSORY NOTES EXECUTED WITH THE BANK.” Sanction details: “PRELIMINARY INJUNCTION ISSUED ORDERING THAT RR IS HEREBY ENJOINED AND RESTRAINED, DIRECTLY OR INDIRECTLY, WHETHER ACTING ALONE OR IN CONCERT WITH OTHERS, FROM KNOWINGLY INITIATING CONTACT WITH ANY PRESENT OR FORMER FIRST COMMUNITY BANK CLIENT OR CUSTOMER WHO IS REFERENCEDIN ANY OF THE BANK’S DATA COMPILATIONS THAT CAME TO BE IN RR’S POSSESSION PRIOR TO HIS RESIGNATION FROM THE BANK. ALSO, MUST PLACE $4000 IN ESCROW TO REIMBURSE COST OF FORENSIC EXAM OF COMPUTER HARD DRIVES, PERSONAL EMAIL ACCOUNTS AND/OR SERVER AND OTHER STORAGE MEDIA.”

 

• February 2008— “CUSTOMER ALLEGES THAT WHEN HE PURCHASED THE REINVESTMENT TRUST IN FEBRUARY 2003, HE WAS NOT INFORMED OF THE EXPIRATION DATE. NO SPECIFIC COMPENSATORY DAMAGES WERE ALLEGED.” The damage amount requested was $95,000 and the customer dispute settled for $95,000.

 

For a copy of Brandon’s FINRA BrokerCheck, click here.

 

 

We Help Investors Recover Investment Losses

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

 

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

 

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation.

 

Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.

 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.