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Jeff Leach: $3MM Investor Complaint Against Naples Broker
Naples, Florida-based broker and investment adviser Jeff Leach (CRD#: 3231849) has received several settled or pending customer complaints in recent years, including one seeking damages of $3 million. According to records provided by the Financial Industry Regulatory Authority (FINRA), Leach is currently registered with Morgan Stanley.
Jeff Leach’s BrokerCheck report currently lists two settled and two pending customer complaints against him. A complaint filed in January 2021 alleges that as a representative of Morgan Stanley Smith Barney, he made misrepresentations of material facts regarding alternative investments from 2009 until 2020; the pending complaint alleges damages of $500,000. A second complaint filed in January 2020 alleges that as a representative of Morgan Stanley Smith Barney, he misrepresented investments in managed/wrap accounts from September 2018 until December 2019; the pending complaint alleges damages of $3 million.
A complaint filed in May 2020 alleged that as a representative of Morgan Stanley Smith Barney, he recommended unsuitable energy investments; the customer sought $500,000 in damages and the complaint reached a settlement in April 2021 of $14,999. A complaint filed in 2016 alleged that he recommended unsuitable hedge fund investments from 2014-2016; the complaint alleged damages of $1.5 million and reached a settlement in 2018 of $165,000.
According to FINRA records, Jeff Leach has been registered as a broker and investment adviser with Morgan Stanley in Naples, Florida since 2009. His prior registrations include Morgan Stanley & Company in Atlanta, Georgia; Citigroup Global Markets in Atlanta, Georgia; and Conseco Securities in Carmel, Indiana. He has passed five securities industry qualifying examinations: 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 Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He holds 55 state securities licenses. (Information current as of June 6, 2021.)