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

INVESTORS: Morgan Stanley broker David Randall Lehnertz was named in a customer dispute alleging he recommended unsuitable investments.

David Randall Lehnertz (CRD: 2287146) is registered as a broker and investment adviser with Morgan Stanley, where he’s been employed since 1992. Lehnertz does not have any other securities industry experience.

Lehnertz has two disclosures on his BrokerCheck report. 

December 2021 Customer Dispute

Status: Pending

Allegations: Claimant alleges, inter alia, unsuitability with regards to managed account – April, 2015 to November, 2021

Damage Amount Requested: $5,000,000.00

January 1996 Customer Dispute

Status: Settled

Allegations: Customers allege that January 1994 recommendation to purchase a bond mutual fund was unsuitable. Customers assert losses of $58,735.88

Damage Amount Requested: $58,735.88

Broker Comment: On August 18, 2997, subsequent to the above resolution, the customers wrote to the NASD requesting that any report reflect the fact that at the time of the complaint, they were not happy with their AE’s and that they like these brokers and continue to do business with them.

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