Jose Marrujo Allegedly Violated His Fiduciary Duty

Jose Marrujo (CRD #: 4123625), a broker registered with Morgan Stanley, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on December 18, 2023. Keep reading if you have questions about his alleged conduct. 

On November 20, 2023, an investor alleged that Jose Marrujo violated his fiduciary duty. 

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

FINRA Rule 2010

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

Background Information 

Jose Marrujo 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

He is a registered broker in 33 state and is a registered investment adviser in Minnesota and Texas. 

During his 23 years of experience, he has registered with the following three firms: 

• Morgan Stanley (CRD #: 149777) 
• Morgan Stanley (CRD #: 8209) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Jose Marrujo and you have concerns about your investments, do not hesitate to contact us 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 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. Do not let securities fraud go unchecked. Start your recovery process today.