Jeff Leach (CRD#: 3231849), a registered representative with Morgan Stanley (CRD#: 149777) in Naples, Florida, is currently involved in a pending customer dispute in which a client is seeking $3 million in damages, according to his BrokerCheck record accessed on March 3, 2020.
Why is Jeff Leach involved in this $3 million dispute? On January 3, 2020, a client filed a customer complaint against Jeff Leach, alleging that he misrepresented investments from September 2018 through December 2019.
This is not the only disclosure on Jeff Leach’s BrokerCheck record. On April 4, 2016, Jeff Leach became involved in a customer dispute in which clients alleged that Jeff Leach recommended unsuitable investments in their accounts from 2014 to 2016. Brokers must only recommend investments that are “suitable” for their clients given a client’s specific investment objectives, risk tolerance, need for liquidity, and other factors. The client alleged that Jeff Leach failed to do a customer-specific suitability analysis, and as a result they requested $1.5 million in damages. The matter was later settled.
In addition to these customer disputes, Jeff Leach has also found himself in trouble with the Florida Office of Financial Regulation. That agency found that he conducted investment advisory activities in Florida without being registered to conduct those activities. On May 27, 2011, Jeff Leach consented to those findings and to a fine of $10,000. Afterwards, the agency agreed to approve Jeff Leach’s application as an associated person with Morgan Stanley Smith Barney.
Jeff Leach is licensed to sell securities in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, the Virgin Islands, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. He has passed the Series 65 – Uniform Investment Adviser Law Examination, the Series 63 – Uniform Securities Agent State Law Examination, the SIE – Securities Industry Essentials Examination, the Series 31 – Futures Managed Funds Examination, and the Series 7 – General Securities Representative Examination.
In addition to Morgan Stanley (CRD#: 149777), Jeff Leach has also worked for the following firms over his 20-year career in the securities industry:
- Morgan Stanley & Co. Incorporated (CRD#: 8209)
- Citigroup Global Markets Inc. (CRD#: 7059)
- Conseco Securities, Inc. (CRD#: 29367)
If Jeff Leach was your broker and you have concerns about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for recovery. Call (877) 238-4175 or email email@example.com for your free case consultation.