Morgan Stanley Advisor Juan Elwaw Faces $2.8mm Complaint

A recent investor complaint against Miami financial advisor Juan Elwaw (CRD# 2299668) alleges that his conduct resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Morgan Stanley.

Mr. Elwaw’s BrokerCheck report discloses two investor complaints. The most recent, filed in August 2023, alleges that as a representative of Morgan Stanley, he breached his fiduciary duty in connection with unspecified investments. The pending complaint alleges damages of $2.9 million.

An earlier investor complaint, filed in 2002, alleged that as a Salomon Smith Barney representative, he failed to follow a customer’s instructions regarding a fund transfer, resulting in a tax liability. In 2004 the complaint reached a settlement of $110,000. In a statement included with the complaint’s disclosure, Mr. Elwaw wrote that the complaint “did not relate to any sales practice issue, but rather to an ‘operational’ problem concerning tax forms, with which I was uninvolved.”

According to the Financial Industry Regulatory Authority, Juan Elwaw holds 30 years of securities industry experience. Based in Miami, Florida, he has been a broker and an investment advisor with Morgan Stanley since 2009. His past registrations include Citigroup Global Markets (Miami, Florida; 1993-2009) and Lehman Brothers (New York, New York; 1983-1993). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; 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 holds 37 state licenses. (Information current as of September 4, 2023.)

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