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Did Ayad Saad Misrepresent a Variable Annuity?

Ayad Saad (CRD #: 1912377), a broker and investment advisor registered with Morgan Stanley, faced an investor dispute alleging he misrepresented a variable annuity in 2021, according to his BrokerCheck record, accessed on March 1, 2022.  The case was denied. Investors should know that they can still pursue FINRA arbitration and recover their losses following a denial.

Variable annuities are complex investments that are often too risky to fit investors’ needs. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing individuals into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor. 

Losses that can be attributed to a stockbroker’s material misrepresentations of facts may result in a viable securities arbitration claim for damages.

Background Information

Ayad Saad has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Ayad Saad is a registered broker in 37 states and is a registered investment advisor in Texas and Florida. 

Besides Morgan Stanley, Ayad Saad has also worked with Edward Jones (CRD#:250) and Foresters Equity Services (CRD#:18464).

Kurta Law Can Help

If you worked with Ayad Saad and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.