Erez Law is currently investigating Morgan Stanley broker Ricki Silverman (CRD# 1219439) regarding variable annuity loss options. He has been registered with Morgan Stanley in Fort Lauderdale, Florida, from 2011 to 2022, and UBS Financial Services Inc. in Boca Raton, Florida, from 2007 to 2011, when he was terminated regarding, “Mr. Silverman resigned while under review regarding changes made by his sales assistant to the firm’s records to reflect inaccurate contact information.”
In March 2013, while registered with UBS Financial Services, Inc., FINRA sanctioned him to pay a $5,000 civil and administrative penalty and fine and suspended him for 10 days after they found that he “negligently made a statement that his primary administrative assistant interpreted as an instruction to alter customer records, the telephone records for Silverman’s customers in his member firm’s client account information system… She admitted that she made the changes, and the firm immediately suspended her employment, and she and Silverman subsequently resigned.”
Ricki Silverman Customer Complaints
He has been the subject of six customer complaints between 2004 and 2024, four of which were denied, according to his CRD report. The most recent complaint was regarding:
October 2024. “Claimant alleges, inter alia, that the Annuities Purchased for her were not in her Best Interests – 2014 to 2022.” The customer is seeking $2,000,000 in damages, and the case is currently pending. The complaint was regarding 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 Ricki Silverman’s 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.
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