Have you lost money investing with current financial advisor and former basketball player Mark Payne in Roseville, California? Mark Payne, currently associated with Morgan Stanley, is the subject of a $15 million customer complaint filed with FINRA arbitration. The customer alleged that Payne managed a customer account, and that he made unsuitable recommendations related to options trading that caused $15.5 million in investment losses. The complaint was filed in January 2022 with FINRA arbitration.

Mark Payne played basketball at St. Mary’s in California before playing professionally in Spain, Greece, and France from 2011 to 2017. Payne then joined Morgan Stanley in August 2017, working at a branch in Roseville, California.

FINRA’s regulations provide that securities brokerage firm have a duty make suitable investment recommendations to customers, and the firm must also reasonably supervise the acts of its financial advisors like Mark Payne. If Morgan Stanley made unsuitable investment recommendations to its customers, it may be responsible for customer losses.

Click to view: Payne, Mark BrokerCheck 2.15.22

If you lost money with Mark Payne or LPL Financial, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.