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Nancy Glassman of Morgan Stanley Involved in Dispute Regarding Suitability of a Wrap Account

Nancy Glrick-tap-uJhgEXPqSPk-unsplash-300x200assman (CRD#: 1734992), currently a registered representative with Morgan Stanley in New York, New York, is involved in a pending dispute in which a client is alleging unsuitability regarding a wrap account, according to her BrokerCheck record accessed on August 13, 2019. The complaint was filed on May 21, 2019 and the client is requesting $48,000 in damages.

Nancy Glassman has also been involved in two other customer disputes.

Nancy Glassman and UBS Financial Services Inc. settled a dispute for $22,500 after a claimant alleged “the financial advisor’s March 2008 recommendation of Lehman Structured Product Issues were unsuitable and misrepresented.” The claim was reported on November 23, 2009 and the client originally requested $50,000 in damages.

What are structured products? Structured products are packages that brokerages create containing different securities. In the case of Lehman Brothers, they sold “Principal Protected Notes,” but they could not guarantee this protection. When Lehman Brothers collapsed in 2008, these notes became worthless; thus, investors lost their principal investment.

Glassman and UBS Painewebber Inc. settled a customer dispute for $30,625 after a client alleged on December 14, 2000 that “federated international small company fund and Munder NetNet Fund were unsuitable investments.” The client initially requested $61,225.83 in damages. In the spring of 2000, according to TheStreet, Munder closed its NetNet Fund to new investors; cash was “gushing into the fund.” Later, after the dot-com bubble burst, the Wall Street Journal reported that the fund got “pummeled.”

A 30-year veteran of the securities industry whose experience spans seven firms, Nancy Glassman has also worked at the following firms, predominantly in the New York area:

  • UBS Financial Services Inc. (CRD#: 8174)
  • Austin Securities, Inc. (CRD#: 17094)
  • Gruntal & Co, Incorporated (CRD#: 372)
  • Wood-Pomerantz Securities, Inc. (CRD#: 24173)
  • J. Nolan & Company, Inc. (CRD#: 16465)
  • Investors Centers, Inc. (CRD#: 14670)

If you’ve done business with Nancy Glassman and have questions about your investments, don’t hesitate to contact the experienced securities attorneys of Fitapelli Kurta. Jonathan Kurta and Marc Fitapelli bring over ten years of securities arbitration experience to the table, so don’t delay in contact them at (212) 658-1500 or info@fkesq.com.

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