Chelsea Deng: Merrill Lynch Advisor Faces Private Placement Complaint

Beverly Hills financial advisor Chelsea Deng (CRD# 4179306) allegedly made unsuitable investment recommendations, according to a recent investor complaint. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor with Morgan Stanley, having previously been registered with Merrill Lynch.

Ms. Deng’s BrokerCheck report discloses one investor complaint. Filed in September 2023, it alleges that as a representative of Merrill Lynch, she recommended an unsuitable concentration in illiquid private placement investments and misrepresented material facts in connection with her investment recommendations. For reference, FINRA Rule 2111 requires that brokers recommend only investments and strategies which they have a reasonable basis to believe are suitable for their customers’ investment profiles. The pending complaint alleges unspecified damages.

As her profile on Morgan Stanley’s website states, Ms. Deng offers her customers “experience, intellectual capital, and dedicated personal service.” Her page goes on to describe the services she provides. “As your Financial Advisor, I can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve,” it explains. “Working together, I can help you to preserve and grow your wealth. You will have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices.”

According to the Financial Industry Regulatory Authority, Chelsea Deng holds 23 years of securities experience. Based in Beverly Hills, California, she has been a broker and an investment advisor with Morgan Stanley since 2019. Her past registrations include Merrill Lynch (Los Angeles, California; 2006-2019) and Morgan Stanley DW (2000-2006). Her credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She is licensed in Arizona, California, Colorado, Delaware, Florida, Nevada, New York, and Virginia. (Information current as of October 15, 2023.)

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