Robert Lynn Mitchell of Frisco Texas a stockbroker formerly registered with Morgan Stanley Wealth Management has been discharged from employment on February 3, 2021 supported by allegations of the stockbroker being involving in undisclosed outside business activities during the time that he was associated with Morgan Stanley Wealth Management.
Mitchell has been identified in four customer initiated investment related disputes concerning accusations of his misconduct while employed by securities broker dealers including Morgan Stanley and Prudential Securities Incorporated. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer filed an investment related complaint regarding Mitchell’s activities in which the customer sought $19,000.00 in damages based upon allegations that the customer experienced losses by being placed into unsuitable corporate bonds by Mitchell when he was associated with Prudential Securities.
On March 31, 2015, another customer filed an investment related FINRA securities arbitration claim involving Mitchell’s conduct where the customer requested $450,000.00 in damages founded on accusations of bad advice by the stockbroker concerning the liquidation of municipal bonds from the customer’s account at Morgan Stanley Smith Barney. FINRA Arbitration No. 15-00669. According to the claim, the customer was also provided with unsuitable recommendations regarding a variable annuity.
Mitchell is also the subject of a customer initiated investment related written complaint on May 21, 2018 in which the customer sought compensatory damages supported by allegations that their investment guidelines and instructions were not followed by Mitchell from January of 2017 to May of 2018.
On July 30, 2020, a different customer initiated investment related FINRA securities arbitration claim regarding Mitchell’s activities was resolved for $78,000.00 in damages based upon accusations that between June of 2015 and December of 2019, the customer had been solicited by Mitchell for investments that Morgan Stanley did not authorize. FINRA Arbitration No. 20-00586.
Since February 25, 2021, Mitchell has been registered with Stifel Nicolaus as a stockbroker. On March 22, 2021, Mitchell became an investment adviser representative of Stifel Nicolaus.