Nicholas Cipriano: Prospera Advisor Fired by Morgan Stanley

Solana Beach, California financial advisor Nicholas Cipriano (CRD# 5366684) was recently terminated from a former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority show that the former Morgan Stanley broker and investment advisor is currently registered with Prospera Financial Services.

Mr. Cipriano’s BrokerCheck report discloses his termination from Morgan Stanley. Filed in April 2024, it states that the firm fired him in connection with the possible exercise of discretion in a non-discretionary customer account. The disclosure also describes concerns regarding his “personal trading without having necessary funds to cover those trades” and “inaccurate representations regarding personal funds available to transfer to the Firm from an external bank.”

Prospera Financial Services’ website includes a page describing the firm’s services and approach. “Our new breed of independent firm encourages every advisor to call the shots and define your own brand of success,” it states. “That way, together, we can develop the true independence, flexibility and support you need to successfully run, grow and protect your business.”

According to the Financial Industry Regulatory Authority, Nicholas Cipriano holds 16 years of securities industry experience. Based in Solana Beach, California, he has been registered as a broker and an investment advisor with Prospera Financial Services since May 2024. His past registrations include Morgan Stanley (Phoenix, Arizona; 2014-2024), E*Trade Securities (Scottsdale, Arizona; 2011-2014), Merrill Lynch (Phoenix, Arizona; 2008-2011), and Charles Schwab & Company (2007-2009). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE: the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, the District of Columbia, Illinois, Kansas, Maryland, New Mexico, New York, South Carolina, Texas, and Virginia. (Information current as of May 28, 2024.)

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