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Morgan Stanley Faces Yet Another Legal Battle Over This Former Rep

By Miriam Rozen March 7, 2019

A couple recently filed a complaint with Finra against Morgan Stanley based on allegations related to its former broker Kirk J. Gill, who, according to BrokerCheck, has been the subject of more than 10 previous complaints that have led to settlements with a total value of more $1 million.

According to a press release issued by the couple’s Tuscon, Ariz.-based lawyer Robert Fox, the couple alleges Morgan Stanley failed to supervise Gill, who allegedly recommended unsuitable and risky investments by encouraging them to take concentrated positions in the energy industry, resulting in their subsequently losing money in their individual and retirement accounts.

Gill, who according to his BrokerCheck profile is now employed at Taylor Capital Management, could not be reached for comment.

In response to a request for comment, a Morgan Stanley spokesperson emailed: “We take customer complaints very seriously and are reviewing the allegations in this claim.”

According to BrokerCheck, Gill, a 26-year FA veteran, worked at Morgan Stanley from 2007 to 2016, having previously worked for Citi Global Markets and Merrill Lynch Pierce Fenner & Smith.

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After Morgan Stanley reached settlements with his former clients, Gill filed a comment with BrokerCheck, blaming the firm. “Mr. Gill was not personally named in this matter. Recommendations reflected Morgan Stanley’s research and strategy. Mr. Gill has not been involved in any aspect of the legal proceedings,” he wrote in response to one of the settlements.