Steven Kern: Morgan Stanley Advisor Received Options Complaint

A recent, denied investor complaint against Los Angeles, California financial advisor Steven Kern (CRD# 2267576) alleged that his conduct resulted in damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Morgan Stanley.

Mr. Kern’s BrokerCheck report discloses one investor complaint. Filed in June 2026, it alleged that as a representative of Morgan Stanley, he failed to follow the customer’s instructions in connection with an option strategy implemented in the account. The complaint alleged unspecified damages and was denied by the firm.

FINRA rules stipulate that brokers like Mr. Kern can only recommend investments and strategies that are suitable for a given customer. Under FINRA Rule 2111, a broker must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for the customer’s objectives, a basis reached through reasonable diligence into the customer’s investment profile. FINRA Rule 2010 requires representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who recommend unsuitable investments may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Steven Kern holds 30 years of securities industry experience. Based in Los Angeles, California, he has been registered as a broker and an investment advisor with Morgan Stanley since 2010. His past registrations include UBS Financial Services, Citicorp Investment Services, Quick & Reilly, Fisher Investments, Dunwoody Brokerage Services, Merrill Lynch, John Hancock Distributors, and John Hancock Mutual Life Insurance. His credentials include the passage of eight securities industry qualifying exams: the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the National Commodity Futures Examination, or Series 3; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 25 state licenses. (Information current as of August 16, 2026.)

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.