Brian Purcell Allegedly Recommended an Investment Not in His Customer’s Best Interest

Brian Purcell (CRD #: 2334888), a broker registered with Morgan Stanley, is the subject of an investor dispute, according to his BrokerCheck record, accessed on October 27, 2023. Keep reading if you have questions about his alleged conduct. 

On August 23, 2023, an investor alleged that Brian Purcell recommended an investment strategy that was not in his best interest.  The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

Regulation Best Interest

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.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of Reg BI also violate this rule. 

Background Information 

Brian Purcell 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 

He is a registered broker in 32 states, D.C., and Virgin Islands. He is also a registered investor in California and Texas. 

During his 18 years of experience, Brian Purcell has registered with four firms: 

• Morgan Stanley (CRD #: 149777) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• American Express Financial Advisors (CRD #: 6363) 
• IDS Life Insurance Company (CRD #: 6321) 

Kurta Law Can Help

If you worked with Brian Purcell and 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 that 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.