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Walter León: Citi Denies Complaint Against Miami Advisor
Miami financial advisor Walter León (CRD# 5872460) allegedly over-concentrated investments in a client’s account, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Morgan Stanley, having been a representative of Citigroup Global Markets until July 2022.
Mr. León’s BrokerCheck report discloses one investor complaint. Filed in October 2022, it alleges that his account had an unsuitably high concentration of certain investments. The complaint alleged damages of $64,400 and was denied by the firm, Citi International Financial Services. More information about over-concentration, also known as lack of diversification, is available via this resource.
In a comment on the disclosure, Mr. León described the firm’s reasoning for denying the complaint. “The firm’s investigation concluded that, at the time of purchase, bonds were in accordance to client’s investment profile,” he wrote, “and that the concentration alleged by the client was incorrect.”
According to the Financial Industry Regulatory Authority, Walter León holds eleven years of securities industry experience. Based in Miami, Florida, he has been a broker and an investment advisor with Morgan Stanley since July 2022. His registration history includes Citigroup Global Markets (Miami, Florida; 2021-2022) and Citi International Financial Services (Miami, Florida; 2017-2021 and Lima, Peru; 2010-2017). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Securities Industry Essentials Examination, or SIE. He holds licenses in Florida, Georgia, Illinois, Massachusetts, New Jersey, New York, and Texas. (Information current as of December 13, 2022.)
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