Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Caryn Alles: $1 Million Complaint Against Portland Advisor
A recent investor complaint against Morgan Stanley advisor Caryn Alles (CRD# 4255618) alleges her investment recommendation resulted in seven-figure damages. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor based in Portland, Oregon.
Ms. Alles’ BrokerCheck report discloses one investor complaint against her. Filed in April 2022, it alleges that as a representative of Morgan Stanley, her recommendation that the client not invest inherited funds in the technology sector and instead “hold them in cash/cash equivalents” was not in the client’s best interests. For reference, FINRA Rule 2111 requires brokers to abide by the suitability standard, which holds that they may only recommend investments appropriate for a client’s background and needs. The pending complaint alleges damages of $1,062,500.
According to the Financial Industry Regulatory Authority, Caryn Alles holds 21 years of securities industry experience. Based in Portland, Oregon, she has been a broker and an investment advisor with Morgan Stanley since 2009. Her past registrations include Morgan Stanley & Company (Portland, Oregon; 2007-2009), Morgan Stanley DW (Portland, Oregon; 2002-2007), and Morgan Stanley Smith Barney (New York, New York; 2000-2002). Her credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the Securities Industry Essentials Examination, or SIE. She is licensed in Arizona, California, Colorado, the District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Missouri, Nebraska, Nevada, New Jersey, New York, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah, and Washington. She is registered with four self-regulatory organizations, or SROs: FINRA, NYSE American LLC, the Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of August 7, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.