Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 10, 2017 indicate that Alabama-based Morgan Stanley broker/adviser David Searcy has been the subject of resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Searcy (CRD# 2264199).
David Searcy has spent 24 years in the securities industry and has been registered with Morgan Stanley in Birmingham, Alabama since 2013. Previous registrations include Merrill Lynch in Birmingham, Alabama and Amsouth Investment Services in Birmingham, Alabama. He is a registered broker and investment adviser with fifteen US states and territories.
According to his BrokerCheck report, David Searcy has received two customer complaints and two pending customer complaints.
In December 2016 a customer alleged David Searcy, while employed at Morgan Stanley, “engaged in an unbalanced and high risk portfolio which was unsuitable for the clients’ investment needs.” The customer is seeking unspecified damages in the pending complaint.
In 2012 a customer alleged David Searcy, while employed at Merrill Lynch, misrepresented and omitted material facts and sold investments away from the firm. The complaint settled in 2014 for $600,000.
In 2013 he voluntarily resigned from Merrill Lynch following allegations he “was soliciting a client to purchase certain CDOs and to participate in a real estate investment outside the firm.”
In 1996 a customer alleged David Searcy, while employed at Amsouth Investments, did not adequately inform her of the performance of an investment in a Pilgrim US adjustable government trust. The complaint settled for more than $14,700.
If you or someone you know has complaints regarding David Searcy, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.