David Fenning, Broker with Morgan Stanley, Named in Customer Dispute Alleging Unsuitable Investment Recommendations

The customer is seeking $173K in damages for Fenning’s alleged misconduct. 

David Fenning (CRD: 1005307) is registered as a broker and investment adviser with Morgan Stanley, where he has been employed since 2019. Previously, Fenning was registered with UBS Financial from 2004 until 2019.

Fenning has five disclosures on his BrokerCheck report.

May 2020 Customer Dispute

• Status: Pending
• Allegations: Time frame: 2014 – 2015 Claimant’s counsel alleges unsuitability and negligence with respect to recommendations and investment of accounts.
• Damage Amount Requested: $173,000.00

July 2011 Customer Dispute

• Status: Settled
• Allegations: Time frame: 2007 – 2008 Claimant alleges unsuitable recommendation and misrepresentations in connection with purchase of structured products.
• Damage Amount Requested: $77,800.00
• Settlement Amount: $21,500.00
• Broker Comment: I deny any and all of the allegations claimed by the complainant. I was truthful and acted in good faith in any and all dealings with the client. This settlement does not reflect any acknowledgement or admission of any liability or misconduct on my part whatsoever. The firm, which denied all of the claims asserted by the customer, resolved this issue for business considerations to avoid the potential const and uncertainties of the arbitration forum. Finally, I did not, nor was I asked to personally contribute any amount towards the settlement of this case.

September 2009 Customer Dispute

• Status: Settled
• Allegations: Claimant, a Connecticut real estate broker, alleges unsuitable investment recommendations and unauthorized trades.
• Damage Amount Requested: $185,218.00
• Settlement Amount: $72,500.00

August 2009 Customer Dispute

• Status: Settled
• Allegations: Claimants allege breach of fiduciary duty, negligence, fraud and unsuitable investments in structured notes and preferred stock. Time frame: June 2007 through May 2008.
• Damage Amount Requested: $750,000.00
• Settlement Amount: $180,000.00

July 1997 Customer Dispute

• Status: Settled
• Allegations: Customer has alleged unsuitable and unauthorized transactions in his account.
• Settlement Amount: $95,000.00
• Broker Comment: The firm agreed to pay [customer] $95,000 to settle this matter and avoid the cost and uncertain outcome of litigation or arbitration.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding David Fenning. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.