Bob Hill: Saxony Advisor Fired by Morgan Stanley

St. Louis financial advisor Bob Hill (CRD# 2268971) was recently terminated by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former Morgan Stanley representative is currently registered as a broker with Saxony Securities.

Mr. Hill’s BrokerCheck report discloses his termination from Morgan Stanley. Filed in May 2025, it states that the firm fired him in connection with allegations “related to exercising time discretion over customer orders without consent; manner of allocating customer positions and trades between brokerage accounts and advisory accounts; and placing senior investors in structured products.”

A second disclosure on his BrokerCheck report concerns an investor complaint. Filed in 2001, it alleged that as a representative of Sands Brothers & Company, he churned investments, made unsuitable and risky recommendations, and charged high commissions. In 2002 the complaint reached a settlement of $2,500.

Saxony Securities’ website includes a page describing the firm’s mission and vision. “Saxony was established to address the systematic problem that has troubled financial advisors and their clients for many years; large, vertically structured brokerage firms that claim to be ‘main street’ oriented,” it explains. “When in reality, they tend to be manufacturers and distributors of specific financial products and platforms that cater to their bottom line. At Saxony we are striving to reform this problem by getting back to business on a personal and individual level.”

According to the Financial Industry Regulatory Authority, Bob Hill holds 32 years of securities industry experience. Based in St. Louis, Kansas, he has been registered as a broker with Saxony Securities since June 2025. His past registrations include Morgan Stanley, Merrill Lynch, Banc of America Investment Services, Dominick & Dominick, Trautman Wasserman & Company, and Sands Brothers & Company. His credentials include the passage of five securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Sales Supervisor Exam – Options Module & General Module, or Series 8; and the General Securities Representative Examination, or Series 7. He is licensed in California and Ohio. (Information current as of June 30, 2025.)

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