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Morgan Stanley Advisor David Jack: Structured Product Complaint
Paramus, New Jersey financial advisor David Jack (CRD# 2415526) is involved in an investor complaint alleging he recommended unsuitable investments. Records provided by the Financial Industry Regulatory Authority show that he is currently registered as a broker and an investment advisor with Morgan Stanley, having previously been registered with UBS Financial Services.
Mr. Jack’s BrokerCheck report discloses several investor complaints. The most recent, filed in October 2022, alleges that as a representative of Morgan Stanley, he unsuitably recommended the customer invest in structured products. The pending investor complaint alleges unspecified damages.
An earlier investor complaint, filed in 2002, alleged that as a representative of Prudential Securities, he exercised discretion and made excessive trades in two accounts, resulting in “large losses.” The complaint reached a settlement of $210,000.
A third investor complaint, filed in 2006, alleged he made an unauthorized bond purchase. The customer alleged unspecified damages and was denied by Morgan Stanley.
According to the Financial Industry Regulatory Authority, David Jack holds 29 years of securities industry experience. Based in Paramus, New Jersey, he has been a broker and an investment advisor with Morgan Stanley since February 2021. His past registrations include UBS Financial Services (Paramus, New Jersey; 2008-2021), Citgroup Global Markets (Florham Park, New Jersey; 2005-2008), Morgan Stanley (Short Hills, New Jersey; 2003-2005), Prudential Securities (Short Hills, New Jersey; 1999-2003), Painewebber (Weehawken, New Jersey; 1998-1999), and JB Hanauer & Company (Parsippany, New Jersey; 1993-1998). His 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 Securities Agent State Law Examination, or Series 63. He holds 17 state licenses. (Information current as of December 11, 2022.)
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