Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Alberto Castaner: Morgan Stanley Financial Advisor Has Four Customer Complaints
Alberto Castaner, a financial advisor in Morgan Stanley’s Fort Lauderdale office, has four customer complaints against him. The complaints are disclosed on his regulatory report with the Financial Industry Regulatory Authority (FINRA).
On September 19, 2017, a customer brought a FINRA arbitration, alleging $850,000 in damages relating to “investment recommendations to purchase and to hold [Puerto Rico] Government Development Bonds and [Closed End Funds] resulted in an over-concentrated and high-risk portfolio.” That arbitration is still pending.
On January 17, 2017, a customer brought a FINRA arbitration alleging $348,348 of damages. The customer alleged “the Branch Manager failed to reasonably supervise the Financial Consultant’s investment recommendations, which…were not suitable.” The claim relates to government debt, which may also be Puerto Rican bonds. That arbitration is also still pending.
On October 3, 2014, a customer brought a FINRA arbitration, alleging Castaner “made false and misleading representations regarding the products risks related to his investment in [Puerto Rico] bonds and [Puerto Rico] banks common and preferred stocks.” The customer alleged $300,000 in damages. That claim was subsequently settled for $150,000.
On November 29, 2011, a customer made a written complaint regarding Castaner, alleging damages of $315,000. That complaint was settled for $37,000.
Alberto Castaner has been licensed with Morgan Stanley since June 2014. Prior to working with Morgan Stanley, Castaner was employed by Popular Securities in Puerto Rico from 2007 through 2014. Castaner has also been licensed with Citigroup Global Markets, Lehman Brothers, and Prudential-Bache Securities.
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