Investor Names Alan Greenberg in Dispute Involving Managed Account

Alan Greenberg (CRD #: 874198), a broker registered with Morgan Stanley, allegedly violated the suitability rule with regard to a client’s account, according to his BrokerCheck record, accessed on February 28, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

In a dispute filed on December 21, 2022, an investor alleged that Alan Greenberg’s allocation of his managed account was unsuitable given his risk profile and investment objectives and that the account performed poorly. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without permitting an outside review. Investors may be able to recover their funds by seeking out FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must consult the information in the investor’s profile, such as their age, risk tolerance, and tax status when recommending investments.

This rule also applies to investment strategies. Overconcentration in a particular stock or sector, for example, is an unsuitable investment strategy for many investors due to its high degree of risk.

Investors who rely on brokers for recommendations may be able to recoup their losses by pursuing FINRA arbitration.

Background Information

Alan Greenberg has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Alan Greenberg is a registered broker in 28 states and the District of Columbia. He is also a registered investment adviser in New York and Texas.

He has also worked for the following firms:

• Morgan Stanley & Company (CRD#:8209)
• Citigroup Global Markets (CRD#:7059)
• Gruntal & Company (CRD#:372)
• Herzfeld & Stern (CRD#:406)
• Prescott, Ball & Turben (CRD#:7656)
• Oppenheimer & Company (CRD#:630)

Kurta Law Can Help

If you worked with Alan Greenberg and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.