Matthew Iacono: Morgan Stanley Advisor Faces Misrepresentation Claim

San Francisco financial advisor Matthew Iacono (CRD# 5759124) allegedly misrepresented an investment strategy, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Morgan Stanley.

Mr. Iacono’s BrokerCheck report discloses one investor complaint. Filed in October 2025, it alleges that as a representative of Morgan Stanley, he violated Regulation Best Interest and misrepresented material facts relating to an investment strategy. The pending complaint alleges unspecified damages.

Investors should be aware that Rule 15l-1(a)(1) of the Securities and Exchange Act of 1934, also known as Regulation Best Interest, requires advisors like Mr. Iacono to recommend only investments and strategies that are in their clients’ best interests. The rule states specifically that firms and their representatives must “act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation ahead of the interest of the retail customer.” This rule is similar to FINRA’s suitability rule, which requires brokers to recommend investments that are in line with their customers’ background and objectives.

According to the Financial Industry Regulatory Authority, Matthew Iacono holds 10 years of securities industry experience. Based in San Francisco, California, he has been registered as a broker and an investment advisor with Morgan Stanley since March 2023. He was previously registered with UBS Financial Services in Incline Village, Nevada from 2015 until 2023. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He holds 34 state licenses. (Information current as of November 18, 2025.)

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