Nicholas Carter Subject of a Half-Million Dollar Dispute

Nicholas Carter (CRD #: 5362028), a broker registered with Morgan Stanley, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on December 1, 2023. Keep reading if you have questions about his alleged conduct. 

On September 26, 2023, an investor alleged that Nicholas Carter breached his fiduciary duty. This breach allegedly involved failing to detect outside fraud. The investor is seeking $550,000. 

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 2090

FINRA Rule 2090 requires firms to obtain and keep certain essential facts about their clients and the individuals authorized to act on their behalf.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. 

Background Information 

Nicholas Carter has passed the following exams:

• Series 66 – Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in 50 states, D.C., the Virgin Islands, and Puerto Rico. He is a registered investment adviser D.C., Texas, and Virginia. 

Nicholas Carter has registered with two firms during his 11 years of experience: Morgan Stanley (CRD #: 149777) and Securian Financial Services (CRD #: 15296). 

Kurta Law Can Help 

If you have worked with Nicholas Carter 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 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.