Morgan Stanley Financial Advisor Angel Aquino-Velez Has 11 Customer Complaints
Carlson & Associates currently represents a family that lost a substantial amount of money in Puerto Rican Bonds with Morgan Stanley and Angel Aquino-Velez. From 1997 to 2009, Aquino-Velez worked for several securities firms in Puerto Rico, including Doral Securities, UBS, and Merrill Lynch. In 2010, Aquino joined Morgan Stanley in Miami.
Aquino has eleven customer complaints on his FINRA BrokerCheck Report. Of those eleven, ten were between April 2014 and May 2017, and all ten appear to relate to either Puerto Rico municipal bonds or Puerto Rico bond funds.
On February 5, 2001, a customer complained, through their attorney, alleging transactions were made in their account without authorization. On April 11, 2014, another customer filed a FINRA arbitration alleging that Aquino recommended a reckless and unsuitable concentration in risky closed-end funds. That claim was settled for $80,000. On March 31, 2014, another customer filed a FINRA arbitration alleging misrepresentation with respect to their purchases of Puerto Rico municipal bonds in their accounts. That claim was settled by Morgan Stanley for $65,000. On April 7, 2014, another customer filed a FINRA arbitration alleging unsuitable investment recommendations and misrepresentations and omission of material facts relating to closed-end funds. That claim settled for $386,000. On July 27, 2015, another customer filed a FINRA arbitration alleging unsuitability with respect to the recommendation and overconcentration of municipal bonds in trust accounts. That claim was settled by Morgan Stanley for $400,000.
On October 27, 2015, another customer filed a FINRA arbitration alleging unsuitability and misrepresentations with respect to purchases of municipal bonds. The customer alleged over $2 million of damages. That claim settled for $1,875,000. On November 4, 2015, another customer filed a FINRA arbitration alleging unsuitable overconcentration and misrepresentations concerning closed-end funds. On July 7, 2016, another customer filed a FINRA arbitration alleging unsuitability with respect to a Puerto Rico closed-end fund investment. That claim was settled by Morgan Stanley for $80,000. On December 15, 2016, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bond investments and closed-end funds. The customer alleges $6,000,000 in damages. On May 5, 2017, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bonds. The customer seeks $594,000 in damages. On May 8, 2017, another customer filed a FINRA arbitration alleging unsuitability with respect to municipal bond investments. That customer alleges $6,000,000 in damages.
If you have lost money with Angel Aquino-Velez or Morgan Stanley, please call us at 305-372-9700 for a free consultation.