Close Menu
Free Consultation: 888-976-6111

Morgan Stanley Advisor Scott Schlett Faces $400K Complaint

Scott Schlett (CRD# 2111952), a financial advisor based in Paramus, New Jersey, recently received an investor complaint alleging his conduct resulted in six-figure damages. Records maintained by the Financial Industry Regulatory Authority show that he is a broker and an investment advisor with Morgan Stanley.

Mr. Schlett’s BrokerCheck report discloses three investor complaints. The most recent, filed in December 2022, alleges that as a representative of Morgan Stanley, he did not manage the account in the customer’s best interests between 2019 and 2020. The pending complaint alleges damages of $400,000.

A second investor complaint, filed in 2018, alleged that as a representative of Morgan Stanley, he made unsuitable trades in the customer’s account between November and December 2018. In 2019 the complaint reached a settlement of $1,617.73.

A third investor complaint, filed in 2008, alleged that an auction rate securities investment was unsuitable for the customer’s objectives. The complaint settled with the firm’s repurchase of the securities at par value, for $400,000.

According to the Financial Industry Regulatory Authority, Scott Schlett holds 32 years of securities industry experience. Based in Paramus, New Jersey, he has been a broker and an investment advisor since 2009. His registration history includes Morgan Stanley & Company (Paramus, New Jersey; 2007-2009), Morgan Stanley DW (Paramus, New Jersey; 2005-2007), Wachovia Securities (Paramus, New Jersey; 1999-2005), First Union Capital Markets (Charlotte, North Carolina; 1995-1999), and Ryan Beck & Company (Florham, New Jersey; 1991-1995). His credentials include the passage of five 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; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 36 state licenses. (Information current as of March 20, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Joseph Lenderman: Equitable Advisor Faced Denied Complaint

    A recent, denied investor complaint against Fort Worth, Texas financial advisor Joseph Lenderman (CRD# 7128657) alleged that his conduct resulted...

    Read More
  • Nick Olivas: Why Did LPL Fire Prospera, Bregma Advisor?

    Irvine, California financial advisor Nick Olivas (CRD# 6803146) was recently terminated from his former member firm in connection with alleged...

    Read More
  • Michael Bird: Everest Retirement Advisor Faces Complaint

    Fort Mill, South Carolina financial advisor Michael Bird (CRD# 5100115) recently received an investor complaint alleging that his conduct resulted...

    Read More
  • Connor Green: Joseph Gunnar Advisor Lands Investor Complaint

    A recent investor complaint against Uniondale, New York financial advisor Connor Green (CRD# 7448002) alleges that his conduct resulted in...

    Read More
  • Previous
  • Next