Client complains that Financial Advisor recommended investments in a high risk foreign security despite client's age and retirement timeline. (10/15/2015-3/20/2024)

Attorney for the client alleged that the financial advisor did not perform any meaningful suitability inquiry prior to recommendations to purchase a security, and that the financial advisor did not disclose details of his own financial stake in the company. (7/23/2015-9/9/2019)

Client alleges the securities selected for his company's PSP are too volatile, the advisor lost him money in his account and also charged account management fees which resulting in total account value declines while the general securities markets only rose higher. (7/12/2016-8/2/2017)

Client retracted all allegations. On August 10, 2017, client sent a follow-up email communication wherein he clarified that he deemed the handling of his account by Financial Advisor to be suitable and the investments recommended by Financial Advisors to be suitable. Client thanked Financial Advisor for his efforts and services provided. Client continued to assert that he would not be looking for any return of fees or compensation from Wells Fargo Advisors.

Claimant alleges unsuitable investment recommendations were made in accounts opened in or around 2012.

$30,000.00

The Firm settled this matter for $30,000.00 without any admission of wrongdoing, solely to avoid the costs and expenses of continued litigation and to terminate the arbitration. The broker was not a party to the settlement, was not asked to contribute in any way to the settlement and did not in fact contribute to the settlement. I believe this claim has no merit. I personally handled the customer's accounts in a careful and prudential manner according to her specific wishes, and all trades were made with the customer's knowledge and acceptance of the potential risks.

Client alleged excessive trading and fees. (4/30/2012-11/11/2015)

$45,000.00

Without admitting any liability on the part of the firm, the matter was settled for $45,000.

MORGAN STANLEY SMITH BARNEY, LLC

Voluntary Resignation

ALLEGATIONS THAT FINANCIAL ADVISOR EXERCISED TIME AND PRICE DISCRETIONARY TRADING IN CLIENT ACCOUNTS WITHOUT PROPER WRITTEN AUTHORIZATION.

CUSTOMER ALLEGES THAT IN MAY 2008, FINANCIAL ADVISOR MADE UNAUTHORIZED PURCHASES OF FANNIE MAE AND CITIGROUP STOCK. DAMAGE UNSPECIFIED.

$3,159.76

MORGAN STANLEY RESOLVED THIS MATTER AS A BUSINESS ACCOMMODATION. MR. MATHUR DENIES THAT THE PURCHASES WERE UNAUTHORIZED AND INDICATES THAT HE OBTAINED CUSTOMER APPROVAL FOR THE TRADES AT ISSUE.