Morgan Stanely Financial Advisor Barry Garapedian The Subject Of 14 Customer Complaints
The Wolper Law Firm is currently investigating claims against Barry Garapedian, a Financial Advisor at Morgan Stanley in Westlake Village, California. Barry Garapedian has been in the securities industry since the 1980s.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), as June 25, 2018, Barry Garapedian has been the subject of fourteen (14) customer complaints, including two pending customer complaints from March and April 2018.
This is an exceedingly high number of customer complains to be filed against a single Financial Advisor. Brokerage firms are required by regulation to supervise the Financial Advisors they employ. The failure of a brokerage firm to properly supervise its Financial Advisors imposes liability on the brokerage firm for investment losses caused by the Financial Advisor’s misconduct.
Among the customer complaints against Barry Garapedian are the following:
- April 2018—“Customer alleges that his account had excessive fees, investments were unsuitable, and investments were overconcentrated.” Alleged damages are $713,000 and the matter remains pending.
- March 2018—Customer alleged “unsuitable recommendations with respect to investments.”
- March 2018—“Client alleges unsuitability, inter alia, with respect to investments.” Alleged damages are $106,178.
- September 2015—“Client alleges, inter alia, that the investments recommended for his account were unsuitable.” Alleged damages were $444,000.
- March 2008—“Complaint about auction rate securities.” Matter was settled for $1.5 million.
- August 2001—Customer “alleged unsuitability, overconcentration in technology stocks, utilizing margin, failure to disclose risks…” The matter was settled for $100,000.
If you or someone you know was a customer of Barry Garapedian and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
- Former West Park Capital, Inc. and Laidlaw & Company LTD Broker, Bryan Mazliach, Investigated By FINRA For Alleged Violation Of FINRA Rules
- Former BMO Harris Financial Advisors, Inc. Broker, Lori Ann Sacco, Suspended Six Months By FINRA For Allegedly Altering Customer Account Documents
- Former Woodbury Financial Services, Inc. Broker, Jodie Lane, Suspended Six Months By FINRA For Allegedly Accepting Gifts And Becoming Beneficiary Of A Client
- Broker, Kimberley Schkade-Hill, Supsended by FINRA For Four Months And Fined $10,000 For Allegedly Having Clients Sign Documents In Blank
- LPL Financial LLC Broker, Matthew Clason, Is The Subject Of An SEC Enforcement Action For Allegedly Stealing Hundreds Of Thousands Of Dollars From A Client
- Former Capitol Securities Management Inc. Broker, Michael Rubel, Suspended By FINRA For 45 Days For Allegedly Engaging In Short-term Trading Of Unit Investment Trusts
- Recovering Your Investment Losses In Non-Traded Real Estate Investment Trusts And Business Development Companies
- Former Westpark Capital, Inc. Broker, Hary Datys, Suspended By FINRA For Fifteen Months For Allegedly Failing To Conduct Due Diligence Before Selling Promissory Notes
- Former Ameriprise Financial Services, LLC Advisor, Arthur Hoffman, Barred By FINRA For Allegedly Failing To Provide Documents In Relation To Investigation Into Outside Business Activities
- Crown Capital Securities Broker, Kenneth Barroga, Has Had Four Customer Complaint Disclosures