Kirk Crossen: FINRA Files Complaint Against Ex-Morgan Stanley Advisor

A recent regulatory complaint against former Carmel, Indiana financial advisor Kirk Crossen (CRD# 2742256) alleges that he improperly borrowed money from a senior customer. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Raymond James & Associates, but that he has been suspended from acting as a broker.

A Letter of Acceptance, Waiver, and Consent (No. 2023079069001) describes FINRA’s complaint against Mr. Crossen. Filed in November 2025, it alleges that he borrowed a total of $400,000 from a customer, via the customer’s trust, who “was 84 years old and suffering from the onset of dementia.” The written supervisory procedures of his member firm at the time, Morgan Stanley, forbade representatives from borrowing funds from customers unless the customers were immediate family members. He allegedly also stated falsely on firm questionnaires that he had not borrowed money from customers. FINRA is seeking various sanctions in the complaint, which is still pending.

Mr. Crossen’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2025, alleges that as a representative of Morgan Stanley, he did not manage accounts in the customer’s best interest. The pending complaint alleges damages of $872,431.07.

An earlier investor complaint, filed in October 2023, alleged that as a Morgan Stanley representative, he executed an unsuitable investment strategy. In March 2025 the complaint reached a settlement of $750,000.

According to the Financial Industry Regulatory Authority, Kirk Crossen holds 27 years of securities industry experience. Most recently based in Carmel, Indiana, he was last registered as a broker and an investment advisor with Raymond James & Associates in 2023. His past registrations include Morgan Stanley, Wells Fargo Advisors, Citigroup Global Markets, and Morgan Stanley DW. He is no longer registered as a broker or an investment advisor, having been indefinitely suspended by FINRA in 2025. (Information current as of November 16, 2025.)

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