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Bobby Aycock Allegedly Failed to Act in Client’s Best Interest

Bobby Aycock (CRD #: 817612), a broker registered with Morgan Stanley, allegedly failed to act in a client’s best interest, according to his BrokerCheck record, accessed on July 18, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On June 1, 2023, an investor alleged that Bobby Aycock failed to act in their best interest with regard to the management of their account from June 2021 to March 2022. This dispute is currently pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which describes their tax status, risk tolerance, age, and other information.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Bobby Aycock has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 7TO – General Securities Representative Examination
  • SIE – Securities Industry Essentials Examination
  • PC – AMEX Put and Call Exam
  • Series 7 – General Securities Representative Examination

Bobby Aycock is a registered broker in 21 states and a registered investment adviser in Alabama and Texas.

He has also worked for Citigroup Global Markets (CRD#:7059) and The Robinson-Humphrey Company (CRD#:723).

Kurta Law Can Help

If you worked with Bobby Aycock 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. 

 

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