Financial Advisor Izhar Shefer (Morgan Stanley) Customer Complaints

• April 1, 2019
• Morgan Stanley

Izhar Shefer is a former Financial Advisor at Morgan Stanley in Aventura, FL.  Izhar Shefer has been in the securities industry since 1998 and previously worked at Corporate Securities Group, Inc., Merrill Lynch, Pierce, Fenner & Smith, Salomon Smith Barney, Inc., Prudential Securities Incorporated, Wachovia Securities, LLC, and APW Capital, Inc. Izhar Shefer is not currently registered with any FINRA member firm.  

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Izhar Shefer is/has been the subject of ten customer complaints alleging sales practice misconduct.  Among the complaints against Izhar Shefer include the following:

• August 2018 – “Claimants allege, inter alia, unsuitability with respect to investments in accounts – 2011 to 2017.”  Alleged damages are $700,000.
• September 2017 – “Client alleges unsuitability with respect to investments – July 2015-February 2017.”  The matter settled for $30,000.
• May 2016 – “Claimant alleges, inter alia, that from June 2015 to November 2015 the FA misrepresented an unsuitable trading strategy.”  The matter settled for $172,500.
• April 2016 – “The claimant alleged, inter alia, unauthorized trading and misrepresentation with respect to option investments – May 2015 to January 2016.”  The matter settled for $60,000.

For a copy of Izhar Shefer’s CRD, click https://brokercheck.finra.org/individual/summary/1759498#disclosuresSection

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.  

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.