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Luis Rafael Bonilla: Morgan Stanley Advisor Has Six Customer Complaints

Luis Rafael Bonilla, a financial advisor in Morgan Stanley’s Miami office, has six customer complaints reported on his regulatory report.

The latest complaint against Luis Bonilla was received on March 28, 2018. The customer, who made a written complaint, alleged unsuitability with respect to purchases of corporate bonds. The complaint was ultimately denied by the firm, meaning no compensation was paid to the customer.

On or around March 26, 2015, Luis Rafael Bonilla was named in another complaint, which came in the form of a FINRA arbitration against Morgan Stanley. The customer alleged that Exchange Traded investments made in her account were not suitable, and that she lost $1 million. The claim was ultimately settled for $150,000.

Between June of 2002 and January of 2003, Bonilla received four customer complaints. One customer complained of unsuitable mutual funds that were misrepresented. That claim was denied by the firm. Another customer, from Colombia, complained about a Conseco, Inc. bond. That complaint was also denied by the firm. A third customer, a resident of Germany, complained of bonds, saying that she was a conservative investor, but was led to invest in aggressive bonds. That complaint was denied by the firm. The fourth customer complained of $125,000 in losses relating to unsuitable high yield bonds. That claim settled for $45,000.

Bonilla joined Morgan Stanley in March of 2010. Prior to his employment with Morgan Stanley, Bonilla was employed with Wells Fargo Advisors from 2000 to 2010. He was first licensed in 1995 with Bersec International Corporation and also worked for First Union Brokerage Services, Inc.

If you lost money due to unsuitable investments, please call us at 888-976-6111 for a free consultation.

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