ComplaintsforMorgan Stanley
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Complaint Details
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Initial Complaint
07/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
I opened a brokerage account with bonus front he link at their website, supposed to get $800 eight days after transferring 200K into the new account. This requirement is met on 6/26 but I neve receive the bonus. Tried to contact and talked to representative, nothing they can do as I don't see my account have a promotion on it.Customer response
08/01/2024
Better Business Bureau:
At this time, I have not been contacted by Morgan Stanley regarding complaint ID ********.
Sincerely,
***** **Initial Complaint
06/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
My mother set up this account for my infant son about 21 years ago. He recently turned 21 and we have been trying to close the account for several months. My mother passed away 15 years ago and my father took over custodial duties for the account. Just prior to my son turning 21, we were told to sign the document releasing the money to my son. That was completed 90 days ago. When the check didn't arrive, my father called to see what the delay was. Now we are being told Morgan Stanley needs a proof of signature for my son so they can match it to the paperwork he signed back in March. Yet they didn't ask for any of that information originally. I believe this is another stall tactic to keep his money which is disgusting. This delay has been happening for years.Customer response
07/07/2024
Better Business Bureau:
At this time, my complaint, ID ******** regarding Morgan Stanley has been resolved.(By clicking "OK", your complaint will be closed as Resolved.)
Sincerely,
************************* ***Initial Complaint
01/16/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Unanswered
This is in reference to my Morgan Stanley accounts.I'm a victim of Identity Theft/Fraud for the past 3 years. Otherwise known as takeover fraud/theft.All of my identifying information & legal documents were stolen from my house.All of my asset's are technically blocked/erased/hacked by Cyber Criminals.These individuals originate out of ****** and ******** *******. They are a group of people that have had a sick obsession with me since I was a child. They know things about me going back to my childhood. They know where I worked, names of ***************** vacation destinations, home addresses, etc. I don't know them personally & I don't have any dealings business or otherwise in ****** or ******** *******.My long standing bank accounts & brokerage accounts are currently not on **** systems under my name, Social ******************************* example **** of America has $7 million, Citibank has $4 million & Morgan Stanley portfolio was approximately $2,000,000.00 I believe the terminology used is "Erased" Identity/takeover, Identity Theft/Fraud *********************************** **************************************************. ***** ************ ******************** ** **********8 DOB 8 12 64Initial Complaint
10/20/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
up until these 1-2 years I started getting letters about account ************** *********** CU This is my hushand *** account. He past away in 2011 Etrade has not send any communications on this issue. I get a statement recently he has ***** I would like a check written out to me, since Im the spouse you do not have rights to these funds.Initial Complaint
07/10/2023
- Complaint Type:
- Delivery Issues
- Status:
- Unanswered
I have spent almost 50 hours on the phone trying to get the SWIFT orders and **** codes for the circled wire transfers going out and have supplied the corresponding reduced funds wired back in in both attachments. I need those orders and codes in order to request fee credits from the receiving institution.Customer response
08/04/2023
Better Business Bureau:
At this time, I have not been contacted by Morgan Stanley regarding complaint ID ********.
Sincerely,
*********************Initial Complaint
02/21/2023
- Complaint Type:
- Product Issues
- Status:
- Resolved
Morgan Stanley at work account - ************ I had stopped contributing to my employer ESPP plan through Morgan Stanley and since July 2022 I have been trying to get my $2.75 that was held for future investing back though Morgan Stanley and my employer. 11/18/22 I saw a transaction reducing my balance by $2.75 in what was being held for future investment. Morgan Stanley cannot tell me where the money went. I even checked with my employer and they have not received this money and neither have I.I want my $2.75 balance I had in my account.Customer response
03/17/2023
At this time, I have been contacted directly by Morgan Stanley regarding complaint ID ********, however my complaint has NOT been resolved because:
[Your Answer Here]
They said they would investigate, but I have not heard back from them and issue has not been resolved.
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
*********************************
Customer response
05/23/2023
Better Business Bureau:
At this time, my complaint, ID ******** regarding Morgan Stanley has been resolved.(By clicking "OK", your complaint will be closed as Resolved.)
Sincerely,
*********************************Initial Complaint
01/17/2023
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I am the custodial for my daughters ******* account. I have tried several times to get financial advise in light of the stock market and they never call back. I have sat on hold many times just to be told I need another group, transferred, told again they do not manage the account, transferred and transferred to never get to anyone who can help. All we want to know is the balance as they plan to use this money for college. I called today on a holiday because I am not working to be told there is a note on this account (they can't tell me what even though I verify my identity) and I had to call back during working hours, specifically when my company is paying me to work for them. This has gone on throughout a year. JP Morgan is denying access and any financial advise and hence, not performing to their fiduciary responsibility. My next report is to the SEC. They are denying my child the opportunity to ensure their college money is 1) in a safe account to not lose money 2) access to their account. They have not sent a statement since July 2022. On the last statement it states we can call 7 days a week, 24 hours a day and yet we cannot. Calling today, I was told we had to call Mon-Fri 8-5 on non-holiday just to get access to the account. It seems its OK to not openly disclose, and perform to their responsibility. My child cannot register for college without access to this account, its unfair to keep both custodian and owner of the account from their information and I suspect it might be a good faith violation.Customer response
02/11/2023
Better Business Bureau:
At this time, my complaint, ID ******** regarding Morgan Stanley has been resolved.(By clicking "OK", your complaint will be closed as Resolved.)
Sincerely,
***** ******Initial Complaint
08/23/2022
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
My Etrade Account Number: ********* 'please read!.jpg' is the official message/complaint that I sent to etrade in their secured message server on 8/1/22.'90day_2.jpg' is my Etrade account screen when I log into etrade via web browser. It clearly says that my account is restricted for 90 days until my account is above $25,000 -OR- 90 days pass.Date of Transaction with Etrade: 12/14/2021 (over the phone, called etrade @ **************)Nature of Dispute:My account went over the allowed 3 days trades in a 5 business day rolling period, and my account was put in a '***' or Pattern Day Trader account restriction, this was in mid December of last year, 2021. Not having this happen before, I called Etrade and they said I can use one exception to remove this restriction, and if this happens anytime after using the exception, that my account would be restricted from further day trades for 90 days. I decided to use my one time exception. Then around early may of 2022, I made the same mistake and my account was restricted again. After 90 days were past, I called etrade because my account did not appear to have the *** account restriction lifted- Etrade told me over the phone that they are no longer going to honor that 90 day auto-removal of the *** restriction! even though I mentioned that I was told over the phone on 12/14/21 that if this ever happened again that I would not get another 'one time exception' and would have my account restricted from daytrading for 90 days. I also mentioned that my 'Balances' tab on my account in Etrade says it is restricted for 90 days- ***********, who I was speaking with at Etrade, told me that he will put in my request in his suggestion box at work, and hopefully they one day remove the 90 day restriction that I see on my browser. I told him that's not what I want! And that I want my account restriction lifted- he said that will NEVER happen with my account, with no reason why! I want my margin account back! This is unacceptable!!! Help!Customer response
09/17/2022
Better Business Bureau:
At this time, I have not been contacted by Morgan Stanley regarding complaint ID ********.
Sincerely,
*********************Initial Complaint
03/21/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
After sending my father death certicate to ******************** 6x ), there is no answer.I call ************ , no one ever answer the phone. Ive been on hold several days and hold at least 1 hr I call ************ , they say they cannot help me and I have to call esates.Are you steaking people money that past away ? Why make so hardInitial Complaint
02/15/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
On February 7, 2022, I called into Morgan Stanley and the call routed to their ************ I spoke to a Trader who quoted me an amount around $2700 minus the $25 processing fee if I wished to sell my stock. I told him go ahead and do that. He said fine and that I would receive a confirmation email on my transaction. Two days later on February 9, 2022, I received a confirmation email that my stock was sold but the price was around $1100. Apparently, the trader didn't process my sale of stock right away. He waited until the price went down and then processed it. I called in disputing it and it has been over a week talking to people and asking to hear the call since it was monitored. Finally, today on 2/15/22 after threatening to go to the SEC and BBB they spoke to me and told me they listened to the call, I cannot listen to it, and that the money they are sending me is correct. I am requesting a full investigation and if I cannot listen to the call then I would like someone objective like an auditor or investigator to listen to the call. I would have never sold the stock at a lower price and if I was told that they would not sell it right then I would have stopped them as I know how the stock market works so I would have waited to see the prices on the next day or thereafter. I am assuming they know they are in the wrong since they won't let me listen to the call.Business response
03/08/2022
Unfortunately, we are prohibited by the Securities and ******************** Regulation S-P, and Morgan Stanley Smith Barneys internal policies from disclosing non-public customer information to nonaffiliated third parties, including the Better Business Bureau. This prohibition extends to any description of the customer complaint or its response because any meaningful discussion of the complaint would generally require the disclosure of personal information about the customer, the customers finances, and investment objectives.
Please note that we have emailed our response directly to ************** on March 2, 2022.
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Customer Complaints Summary
78 total complaints in the last 3 years.
28 complaints closed in the last 12 months.