Morgan Stanley sues over telephone numbers

Morgan Stanley building

206 client telephone numbers.

Morgan Stanley's wealth management division sued former financial advisor Denis O'Brien on Thursday, claiming that he falsified 206 client telephone numbers just before leaving the firm.

Reuters reports that according to the complaint, O'Brien changed the numbers for 156 client accounts on the firm's computer systems on the afternoon of his sudden resignation on 25th October, while taking his clients' contact list to solicit them at his new job.

O'Brien, who registered with rival brokerage Raymond James Financial on the same day, changed many of the phone numbers by just a single digit, preventing Morgan Stanley financial advisers from promptly reaching his clients after he left, the complaint alleged.

O'Brien notified Morgan Stanley that he was taking the client list, and left a copy with the correct phone numbers with the firm, but Morgan Stanley was initially unaware of the discrepancy between the list and the altered computerized records, the complaint said.

O'Brien's notification that he would leave with information about his clients complied with the protocol of almost all U.S. brokerage and advisory firms.

To access the complete Reuters article hit the link below

Morgan Stanley sues former adviser, claims he falsified records:

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