Leon Ciobataru: Morgan Stanley Fires Miami Advisor

Former Miami, Florida financial advisor Leon Ciobataru (CRD# 3269440) was recently terminated from his former member firm following an investigation. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Morgan Stanley and that he is not currently registered as a broker or an investment advisor.

Mr. Ciobataru’s BrokerCheck report discloses his termination from Morgan Stanley. Filed in August 2025, it states that he was fired in connection with allegations “related to differing views held by [him] and the firm regarding the interpretation and context of certain statements made during an investigation.” The disclosure does not clarify the nature of the statements nor the nature of the investigation. It does add that “No client complaints or harm [were] identified.”

A report published by AdvisorHub on September 8, 2025 provides some context for the vague disclosure regarding Mr. Ciobataru’s termination from Morgan Stanley. Citing attorneys familiar with such disclosures, it explains that broker-dealer firms sometimes adopt “a vaguer or lighter approach” than they used to in the language used in disclosures regarding broker terminations. They do this because “the industry has made it harder for brokers to find a job or secure hiring bonuses after a termination,” the report describes, adding that a firm’s chief concerns are the broker’s seniority and “the seriousness of their offense.”

In addition to the above context regarding vague disclosure language, the AdvisorHub report also notes that Mr. Ciobataru worked on a two-broker team at Morgan Stanley that oversaw $210 million in customer assets “generating $1.8 million in revenue” as of their transition to the firm from Wells Fargo. It also notes that Mr. Ciobataru did not respond to a request for comment regarding his departure from the firm.

According to the Financial Industry Regulatory Authority, Leon Ciobataru holds 25 years of securities industry experience. Most recently based in Miami, Florida, he was registered with Morgan Stanley from 2012 until 2025. His previous registrations include Wells Fargo Advisors (2003-2012) and Prudential Securities (2000-2003). His credentials include the passage of five securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the National Commodity Futures Examination, or Series 3. He is not currently registered as a broker or as an investment advisor. (Information current as of September 10, 2025.)

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