Ryan Miller Allegedly Gave Unsuitable Investment Recommendation

Ryan Miller (CRD #: 4034246), a broker registered with Morgan Stanley, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on March 4, 2025. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On January 7, 2025, an investor filed a dispute alleging that Ryan Miller made an unsuitable recommendation of a corporate bond in 2021. The firm denied the dispute.

Investors should be aware, however, that firms can deny disputes without allowing an external review. It’s still possible to recover damages after a denial and investors may want to pursue FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles describe an investor’s financial goals, tax status, risk tolerance, investing experience, and other characteristics.

Brokers also have an obligation to recommend investment strategies that suit an investor’s goals. Overconcentration in a single security or sector may be an unsuitable strategy, for example.

Excessive trading, also called churning, is also considered unsuitable because trading fees and commissions can significantly reduce an investor’s returns.

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

Background Information

Ryan Miller has passed the following exams:

• General Securities Sales Supervisor – General Module Examination – Series 10
• General Securities Sales Supervisor – Options Module Examination – Series 9
• Securities Industry Essentials Examination – SIE
• Futures Managed Funds Examination – Series 31
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

Ryan Miller is a registered broker in 28 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

He has also worked for Morgan Stanley & Company (CRD#:8209) and Morgan Stanley (CRD#:7556).

Kurta Law Can Help

If you worked with Ryan Miller and you 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.