Richard Robert Fulton of Palm Beach Gardens Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which settled on October 24, 2016 for $18,822.00 in damages based upon allegations that mutual fund trades were effected in the customer’s managed account on an excessive basis between January of 2015 and May of 2016.
FINRA Public Disclosure confirms that Fulton has been identified in four more customer initiated investment related disputes that pertain to accusations of his misconduct during the time that he was registered with Prudential Securities Incorporated, Morgan Stanley Smith Barney and First Jersey Securities. Particularly, on January 27, 2004, a customer filed an investment related complaint pertaining to Fulton’s activities in which the customer alleged that stock been purchased by Fulton in the customer’s account without the customer’s permission.
On November 23, 2015, another customer initiated investment related complaint pertaining to Fulton’s conduct was resolved for $40,000.00 in damages supported by allegations that misrepresentations had been made to the customer concerning mutual fund investments.
Fulton’s employment with Morgan Stanley was terminated on August 31, 2016. He became employed by International Assets Advisory, LLC on September 13, 2016.
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