Ron Keith Phillips of Walnut Creek, California, a stockbroker registered with Morgan Stanley Smith Barney LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $75,000.00 in damages based upon allegations that Phillips mismanaged investment accounts when Phillips was associated with Morgan Stanley Smith Barney LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02599 (June 22, 2023).
FINRA Public Disclosure shows that Phillips was referenced in five other customer initiated investment related disputes concerning Phillips’ conduct while associated with securities broker dealers, including Salomon Smith Barney. On August 30, 2001, a customer filed an investment related complaint involving Phillips’ conduct in which the customer requested $44,000.00 in damages based upon allegations that Phillips invested in a different manner than what was discussed with the customer during the time that Phillips was associated with Salomon Smith Barney.
On May 15, 2003, another customer filed an investment related complaint involving Phillips’ conduct in which the customer requested $50,000.00 in damages based upon allegations that Phillips failed to follow instructions in connection with the sale of mutual funds, over-the-counter equities, and stocks when Phillips was associated with Citigroup Global Markets Inc.
Phillips was also referenced in a customer initiated investment related complaint that was settled on February 12, 2004, for $13,400.00 in damages based upon allegations that Phillips made unsuitable investment recommendations of mutual funds when Phillips was associated with Citigroup Global Markets Inc.
On December 23, 2008, a customer initiated investment related complaint involving Phillips’ conduct was settled for $575,000.00 in damages resulting from losses on auction rate securities during the time that Phillips was associated with UBS Financial Services Inc.
Phillips was also referenced in a customer initiated investment related complaint filed on April 1, 2022, in which the customer requested compensation based upon allegations that Phillips failed to invest in the customer’s best interest when Phillips was associated with Morgan Stanley.
Phillips has been associated with Morgan Stanley as a stockbroker and investment advisor representative since June 1, 2009.
