Lindsay Yencho: Morgan Stanley Advisor Faces Options Complaint

Vero Beach, Florida financial advisor Lindsay Yencho (CRD# 6571087) recently received an investor complaint alleging that she recommended an unsuitable options investment. Financial Industry Regulatory Authority records show that she is registered as a broker and an investment advisor with Morgan Stanley.

Ms. Yencho’s BrokerCheck report discloses one investor complaint. Filed in September 2025, it alleges that as a representative of Morgan Stanley, she misrepresented and recommended an unsuitable options trading strategy between January 2018 and May 2025. The pending complaint alleges unspecified damages.

FINRA rules stipulate that brokers like Ms. Yencho can only recommend that their clients invest in what are known as suitable investments and/or strategies. What this means, according to FINRA Rule 2111, is that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for a customer’s background and objectives. They must arrive at this basis through reasonable diligence into the customer’s investment profile. They are similarly required by FINRA Rule 2150 to make their recommendations without using “manipulative, deceptive or other fraudulent device[s] or contrivance[s],” while FINRA Rule 2010 requires them to “shall observe high standards of commercial honor and just and equitable principles of trade.” In other words, brokers may not make misrepresentations of material facts relating to the investments they recommend, as these misrepresentations may lead investors to purchase unsuitable products. FINRA-registered persons who advise their clients to invest unsuitably be found liable in the event of losses.

According to the Financial Industry Regulatory Authority, Lindsay Yencho holds nine years of securities industry experience. Based in Vero Beach, Florida, she has been registered as a broker and an investment advisor with Morgan Stanley since 2016. Her credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. She holds 30 state licenses. (Information current as of November 10, 2025.)

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