{"id":7030,"date":"2019-05-08T15:08:18","date_gmt":"2019-05-08T20:08:18","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7030"},"modified":"2019-05-08T15:08:18","modified_gmt":"2019-05-08T20:08:18","slug":"morgan-stanley-retirement-fund-mismanagement","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/","title":{"rendered":"Morgan Stanley to Pay Almost $455K For Alleged Retirement Fund Mismanagement"},"content":{"rendered":"<p>\t\t\t\tA <a href=\"https:\/\/www.finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority<\/a> (FINRA) arbitration panel is ordering <a href=\"https:\/\/www.investorlawyers.com\/?s=Morgan+stanley\" target=\"_blank\" rel=\"noopener noreferrer\">Morgan Stanley (MS)<\/a> to pay a claimant $454,813 for retirement fund mismanagement. The claimant is The Carpenter Law Firm Defined Benefit Plan. The Carpenter Law Firm is based in Iowa.<\/p>\n<p>According to the FINRA <a href=\"http:\/\/www.finra.org\/sites\/default\/files\/aao_documents\/18-01007.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">award<\/a>, the law firm contends that Morgan Stanley did not put together an investment strategy that was appropriate for its defined benefit plan. This allegedly led to \u201cexcessive cash and a concentration\u201d in just one area of the S &amp; P.<\/p>\n<p><a href=\"https:\/\/www.investmentnews.com\" target=\"_blank\" rel=\"noopener noreferrer\"><em>InvestmentNews<\/em><\/a> reports that the mismanagement that the Carpenter Law Firm is claiming occurred was first noticed in 2017 when one of the firm&#8217;s attorneys became concerned that his retirement portfolio may not have been properly allocated over the past ten years. The lawyer handed his portfolio over to Morgan Stanley broker, Michael Lee Canney, in 2007. Among the concerns was that market-timing had caused the broker to be \u201cout of the market in cash\u201d during both the account\u2019s beginning and end. Also, over half of the portfolio was made up of closed-end funds that were purchased from Morgan Stanley.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/\"  title=\"Continue Reading Morgan Stanley to Pay Almost $455K For Alleged Retirement Fund Mismanagement\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Financial Industry Regulatory Authority (FINRA) arbitration panel is ordering Morgan Stanley (MS) to pay a claimant $454,813 for retirement fund mismanagement. The claimant is The Carpenter Law Firm Defined Benefit Plan. The Carpenter Law Firm is based in Iowa. According to the FINRA award, the law firm contends that Morgan Stanley did not put [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752],"tags":[3398,3399,2283],"class_list":["post-7030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-firms","tag-carpenter-law-firm-defined-benefit-plan","tag-michael-lee-canney","tag-morgan-stanley"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Morgan Stanley to Pay $455K For Alleged Retirement Fund Mismanagement &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"A FINRA arbitration panel is ordering Morgan Stanley (MS) to pay a claimant $454,813 for retirement fund mismanagement by an MS former broker.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morgan Stanley to Pay $455K For Alleged Retirement Fund Mismanagement &#8212; 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Investor Lawyers Blog","twitter_description":"A FINRA arbitration panel is ordering Morgan Stanley (MS) to pay a claimant $454,813 for retirement fund mismanagement by an MS former broker.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/mobile-stock-check.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Morgan Stanley to Pay Almost $455K For Alleged Retirement Fund Mismanagement","datePublished":"2019-05-08T20:08:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/"},"wordCount":383,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/mobile-stock-check.jpg","keywords":["Carpenter Law Firm Defined Benefit Plan","Michael Lee Canney","Morgan Stanley"],"articleSection":["Financial Firms"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/","url":"https:\/\/www.investorlawyers.com\/blog\/morgan-stanley-retirement-fund-mismanagement\/","name":"Morgan Stanley to Pay $455K For Alleged Retirement Fund Mismanagement &#8212; 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