Ron Phillips: $250K Complaint Against Walnut Creek Advisor

Morgan Stanley financial advisor Ron Phillips (CRD# 2823393) recently received an investor complaint alleging his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Walnut Creek, California. 

Mr. Phillips’ BrokerCheck report discloses multiple investor complaints. The most recent, filed in April 2022, alleged that as a representative of Morgan Stanley, he provided unsuitable account management. The complaint alleged unspecified damages and was denied by the firm.

An earlier investor complaint, filed in October 2021, similarly alleges that as a representative of Morgan Stanley, he provided unsuitable account management. The pending complaint alleges damages of $250,000.

A third investor complaint, filed in 2008, concerned the sale of auction rate securities prior to the widespread illiquidity in the market for them. The complaint reached a settlement in which UBS Financial Services repurchased the securities at par value, $575,000.

A fourth investor complaint, filed in 2004, alleged that as a representative of Citigroup Global Markets, he sold unsuitable mutual funds. In 2004 the complaint reached a settlement of $13,400.

According to the Financial Industry Regulatory Authority, Ron Phillips holds 25 years of securities industry experience. Based in Walnut Creek, California, he has been a broker and an investment advisor with Morgan Stanley since 2009. His past registrations include Morgan Stanley & Company (Walnut Creek, California; 2008-2009), UBS Financial Services (Walnut Creek, California; 2002-2008), and Salomon Smith Barney (Pleasanton, California; 1996-2002). 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 Investment Adviser Law Examination, or Series 65. He holds 30 state licenses. (Information current as of September 3, 2022.)

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