Noah Philip Alweiss (CRD #5902252) Has Customer Dispute and Employment Separation Disclosures on FINRA BrokerCheck

Noah Philip Alweiss (CRD #5902252) was previously registered with Morgan Stanley. FINRA BrokerCheck states he is not currently registered as a broker. We reviewed his BrokerCheck report on May 25, 2026. It reflects one customer dispute and one employment separation disclosure. If you invested with Noah Alweiss and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Noah Alweiss’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On November 26, 2024, a customer alleged Noah Alweiss used an unsuitable strategy. The claim involved trading and investments in the customer’s account. The claim covered 2022 through 2023. Noah Alweiss’s FINRA BrokerCheck Report lists managed or wrap accounts, exchange traded funds, and a non-broker-dealer affiliate product. The FINRA arbitration case number was 24-02523. Morgan Stanley Smith Barney settled the matter on January 5, 2026, for $375,000. Noah Alweiss did not contribute to the settlement. Alweiss’s statement says Morgan Stanley settled to avoid litigation costs and uncertainty.

Employment Separation After Allegations

Noah Alweiss’s FINRA BrokerCheck Report reflects one employment separation after allegations. A summary of the disclosure is below:

On March 19, 2026, Morgan Stanley Smith Barney discharged Noah Alweiss. The firm reported concerns about a customer’s use of loan proceeds to buy securities. It also reported concerns about written complaints and off-channel messages. The firm also cited trading advice for an account at another brokerage firm. Noah Alweiss’s FINRA BrokerCheck Report lists the product as no product. The firm reported no allegations of other customer impact. Alweiss’s statement denies Morgan Stanley’s view of his customer relationship. His statement also says he did not advise the customer to use loan proceeds to buy securities.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 covers recommended securities transactions and investment strategies. It requires a reasonable basis tied to the customer’s investment profile.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires high standards of commercial honor and fair dealing. It can apply when conduct raises concerns about how a broker handled customer matters.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Noah Alweiss:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Noah Alweiss has passed Series 7 and Series 66.

Was previously registered with Morgan Stanley from May 2011 to April 2026.

Reported employment with Summit Financial, LLC as an investment adviser representative starting in May 2026.

Kurta Law Can Help

If you have worked with Noah Alweiss and have concerns about his activity, Kurta Law may be able to help. The firm can evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors. The firm helps hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. An attorney can review the facts and explain possible next steps.