- September 26, 2019
- Morgan Stanley
Kevin Gunnip (CRD # 2701801) is a former Financial Advisor at Morgan Stanely in Southlake, TX. Kevin Gunnip has been in the securities industry since 1996.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in September 2019, FINRA barred Kevin Gunnip from “acting as a broker or otherwise associating with a broker-dealer firm” for refusing “to appear for on-the-record testimony requested by FINRA in connection with its investigation of allegations that Gunnip engaged in unsuitable short-term trading of long-term securities.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2017055476201%20Kevin%20Scott%20Gunnip%20CRD%202701801%20AWC%20va.pdf.
In February 2018, Kevin Gunnip was permitted to voluntarily resigned from Morgan Stanley after “allegations about whether the representative may have executed some transactions for non-discretionary client accounts without confirming the trades beforehand in all cases.”
In addition, Kevin Gunnip has three customer complaints on his CRD alleging the following:
- August 2017 – “Claimants alleged, inter alia, excessive trading with respect to transactions made in managed accounts – 2010 to 2014.” That matter settled for $614,000.
- February 2017 – “Claimant alleged, among other things, that some of his investments had trading were unsuitable.” The matter settled for $145,000.
- June 2016 – “Claimants allege, inter alia, that their financial advisor recommended unsuitable investments.” The matter settled for $150,000.
For a copy of Kevin Gunnip’s CRD, click https://brokercheck.finra.org/individual/summary/2701801.
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.
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