Former Morgan Stanley broker William Collins (CRD# 2787822) faces customer complaints related to unauthorized and excessive trading. He has been registered with Cetera Advisor Networks LLC in Farmington Hills, Michigan, since 2023. Previously, he was registered with Morgan Stanley in Birmingham, Michigan, from 2010 to 2023.
William Collins Customer Complaints
He has been the subject of four customer complaints between 2016 and 2024, one of which was denied, according to his CRD report:
January 2024. “Client verbally alleged unauthorized and excessive trading. – January 2020 – August 2023.” The case was settled for $225,000. The complaint was regarding options losses, and it took place while he was registered with Morgan Stanley.
April 2020. “Claimant alleged, inter alia, unauthorized trading with respect to investments – 03/01/2019 to 04/17/2020.” The customer sought $800,000 in damages, and the case was settled for $75,000. The complaint was regarding options and common and preferred stock losses, and it took place while he was registered with Morgan Stanley.
March 2016. “Client alleges unauthorized trading, inter alia, with respect to investments – October 2014 – February 2015. damages unspecified.” The case was settled for $8,973.25. The complaint was regarding common and preferred stocks and variable annuities, and it took place while he was registered with Morgan Stanley.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by William Collins’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
"*" indicates required fields
