Maury Lomax: $1mm Complaint Against Morgan Stanley Advisor

A recent investor complaint against Mobile, Alabama financial advisor Maury Lomax (CRD# 4389255) alleges that his conduct resulted in million-dollar damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Morgan Stanley, having previously been registered with Citigroup Global Markets.

Mr. Lomax’s BrokerCheck report discloses two investor complaints. The most recent, filed in June 2021, alleges that as a representative of Morgan Stanley, he executed an investment strategy that was not in the customers’ best interests. (For reference, FINRA rules stipulate that advisors like Mr. Lomax must recommend products or strategies that are considered suitable for their particular investment profiles.) The pending complaint alleges damages of $1 million.

A second investor complaint, filed in 2009, alleged that as a Morgan Stanley representative, he misled his customers about the safety of the investments in their portfolio. The complaint alleged damages of $158,000 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Maury Lomax holds 22 years of securities industry experience. Based in Mobile, Alabama, he has been a broker and an investment advisor with Morgan Stanley since 2009. His registration history includes Citigroup Global Markets (Mobile, Alabama; 2008-2009), Morgan Stanley & Company (Mobile, Alabama; 2007-2008), and Morgan Stanley DW (Mobile, Alabama; 2001-2007). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 30 state licenses. (Information current as of July 8, 2023.)

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