Marcus Kline Allegedly Misrepresented a Fee Rate

Marcus Kline (CRD #: 2661830), a broker registered with Morgan Stanley, is the subject of an investor dispute, according to his BrokerCheck record, accessed on September 26, 2023. Keep reading if you have questions regarding this broker’s alleged conduct. 

On July 11, 2023, an investor alleged that Marcus Kline misrepresented the rate she would be charged on her managed accounts. The alleged misconduct took place from 2021 to 2023. Damages are unspecified. 

What Are Managed Accounts?

Managed accounts often come with higher fees than self-directed brokerage. Actively managed mutual funds are examples of managed accounts. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments or omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2020 also violate this rule. 

Background Information 

Marcus Kline 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 
• Series 3 National Commodity Futures Examination 

He is a registered broker in 37 states and D.C. He is a registered investment adviser in New York and Texas. 

During his 22 years of experience, Marcus Kline has registered with five firms: 

• Morgan Stanley (CRD #: 149777) 
• J.P. Morgan Securities (CRD #: 79) 
• AllianceBernstein L.P. (CRD #: 108477) 
• Sanford C. Bernstein & Co. (CRD #: 104474) 
• Smith Barney (CRD #: 7059) 

Kurta Law Can Help

If you worked with Marcus Kline 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.