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David Lehnertz Embroiled in $5 Million Unsuitability Dispute

Mar 11, 2022 Unsuitable Investments

David Lehnertz (CRD #: 2287146), a broker and investment advisor registered with Morgan Stanley, is facing an unsuitability dispute, according to his BrokerCheck record, accessed on February 20, 2022. 

On December 3, 2021, David Lehnertz was named in an investor dispute alleging unsuitability regarding his client's accounts he managed between April 2015 and November 2021. The investor is seeking $5,000,000 一the case is still pending. 

BrokerCheck does not provide details regarding the nature of the investments; however, unsuitability is a term used to describe recommendations and trades inconsistent with the customer's goals and investment profile.

Under FINRA Rule 2111, a customer's investment profile includes the customer's:

  • Age
  • Financial situation and needs
  • Tax status
  • Investment objectives
  • Investment experience
  • Risk tolerance

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

David Lehnertz 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

David Lehnertz is a registered broker in 20 states. He is also a registered investment advisor in Texas and California.

Besides Morgan Stanley (CRD#:149777), David Lehnertz has also worked with the following firms:

  • Morgan Stanley & Co. Incorporated (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)

Kurta Law Can Help

If you have worked with David Lehnertz and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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.