Timothy Lilleboe is the Subject of Allegations Concerning a Managed Account

Timothy Lilleboe (CRD #: 1273695), a broker registered with Morgan Stanley, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 4, 2024. Investors may want to know that this is the third investor dispute on his record. 

Investor Allegations 

On November 16, 2023, an investor alleged that Timothy Lilleboe misrepresented managed account fees. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration. 

What Are Managed Accounts?

Managed accounts often come with higher fees than self-directed brokerage accounts and may be unsuitable for many investors. Actively managed mutual funds are examples of managed accounts. The fees associated with managed accounts may make them unsuitable for many investors. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

High Standards of Commercial Honor 

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

Background Information 

Timothy Lilleboe has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 24 states and is a registered investment advisor in Michigan and Texas. 

Timothy Lilleboe has registered with the following firms: 

• Morgan Stanley (CRD #: 149777) 
• CitiGroup Global Markets (CRD #: 7059) 
• Lehman Brothers (CRD #: 7506) 
• E.F. Hutton & Company (CRD #: 235) 

Kurta Law Can Help 

If you have worked with Timothy Lilleboe and 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.