David Lehnertz: $5 Million Complaint Against Morgan Stanley Advisor

Newport Beach financial advisor David Lehnertz (CRD# 2287146) recently received an investor complaint alleging his conduct resulted in millions of dollars in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Morgan Stanley.

Mr. Lehnertz’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2021, alleges that as a representative of Morgan Stanley Smith Barney, he provided unsuitable recommendations in connection with a managed account. The pending complaint alleges damages of $5,000,000.

An earlier investor complaint, filed in 1996, alleged the unsuitable recommendation of a mutual fund investment while he was a representative of Dean Witter Reynolds. The complainants alleged damages of $58,735.88 in the complaint, which settled for an amount unspecified on his BrokerCheck report.

According to the Financial Industry Regulatory Authority, David Lehnertz holds 29 years of securities industry experience. Based in Newport Beach, California, he has been a broker and an investment advisor with Morgan Stanley since 2009. His past registrations include Morgan Stanley & Company (Newport Beach, California; 2007-2009) and Morgan Stanley DW (Newport Beach, California; 1992-2007). His 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 Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Colorado, Florida, Hawaii, Idaho, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New York, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. (Information current as of September 20, 2022.)

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