With nearly $1.8 million in settlements and judgments to his name, former Morgan Stanley (Westlake Village, CA) broker Barry Lee Garapedian stands accused of misconduct in another customer complaint filed in August 2021 alleging unsuitable recommendations totaling an additional $1.4 million in damages.
Prior to the August 2021 dispute, Barry Garapedian (CRD #1039257)'s most recently settled customer dispute involved allegations of excessive fees, unsuitable investments, and overconcentration.
Although Morgan Stanley permitted Garapedian to resign from his managing director position in January 2021, Garapedian's file indicates a laundry list of customer complaints, settlements, and arbitration awards dating back 1992.
For example, an auction rate securities-related complaint alleging that Garapedian failed to follow client instructions ultimately resulted in a published settlement of $1.5 million. Various claims of unsuitable recommendations and overconcentrated positions also netted settlements in the six-figures.
Prior to joining Morgan Stanley at its Westlake Village, California, branch, Garapedian served as a broker at Citigroup Global Markets in Glendale. Garapedian is also listed as a board member of the Pomegranate Foundation in Encino, CA.
If you invested with ex-Morgan Stanley broker Barry Garapedian or with any financial adviser or representative whose unsuitable recommendations, overconcentration, or misrepresentations have proven harmful to your investments or interests, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.