DID RANDY JAMES MORSE CAUSE YOU INVESTMENT LOSSES?
About Randy Morse of Creative Planning?
Randy Morse (CRD #2378296) , located in Newport Beach, California, has over two decades of experience in the financial services industry, primarily working with reputable firms like Fidelity Brokerage Services LLC and OLDE Discount Corporation. His expertise is reflected in his passing multiple securities industry exams, including principal, general industry, and multi-state securities law certifications. He also holds a Certified Financial Planner designation, emphasizing his focus on financial planning and investment strategies.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Randy Morse Customer Complaints and Reviews
Two Customer Disputes
- Customer Dispute #1 – July 25, 2005
- Allegations: The customer alleged that Mr. Morse recommended a variable annuity that was not suitable for their investment needs.
- Product Type: Variable Annuity
- Alleged Damages: $212,838
- Outcome: The complaint was reviewed and denied by the employed firm, with no settlement made.
- Customer Dispute #2 – May 1, 2000
- Allegations: The customer claimed that Mr. Morse did not provide sufficient background information about a company before recommending the purchase of a corporate bond.
- Product Type: Corporate Bond
- Alleged Damages: $9,000
- Outcome: The complaint was reviewed and denied, with no action taken against Mr. Morse.
Allegations Against Randy Morse
Customer Allegations:
- The first dispute involved the suitability of a variable annuity. Suitability disputes typically examine whether an investment aligns with a client’s financial goals and risk tolerance. The denial of the claim suggests that the firm found the recommendation appropriate based on the available evidence.
- The second dispute centered on insufficient information provided about a corporate bond. Such allegations often involve communication clarity and transparency. The firm’s denial indicates no breach of duty or regulatory violations were found.
Both cases highlight common customer concerns in the financial advisory industry and underscore the importance of thorough documentation and communication.
Randy Morse Employment History
- Employment History:
- Creative Planning (Investment Advisor Representative, 2018–Present).
- Fidelity Brokerage Services LLC (Planning & Guidance Specialist, 1996–2018).
- Other positions at Olde Discount Corporation and Fidelity Personal Trust. (1995-1996)
- Fidelity Brokerage Services, Inc. (1993–1995)
- Examinations Passed:
- Principal/Supervisory Exams: Series 9 (Options Supervisor) and Series 10 (General Securities Supervisor).
- General Industry/Product Exams: Series 7 (General Securities Representative), Series 6 (Investment Company Products), and SIE (Securities Industry Essentials).
- Multi-State Securities Law Exams: Series 63 and Series 65.
- Professional Designation: Certified Financial Planner (CFP).
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors are bound by fiduciary duties to prioritize their clients’ best interests. This includes:
- Duty of Care: Advisors must carefully evaluate clients’ financial goals, risk tolerance, and overall financial situation when making recommendations.
- Duty of Loyalty: Advisors must disclose conflicts of interest and act transparently. Any potential or actual conflicts must be communicated clearly.
- Transparency: Advisors are responsible for providing full disclosure of the risks, costs, and mechanics of investment strategies.
These principles are foundational to ethical investment advising and protect clients from conflicts of interest and unsuitable recommendations.
Option Trading Can Be Extremely Risky
Options trading can be highly speculative and involve significant risks, particularly when utilizing advanced strategies. For instance, leveraged or uncovered strategies like writing naked calls can expose clients to potentially unlimited losses. Even more conservative strategies, such as covered calls or protective puts, carry risks of market volatility and timing.
Example of a High-Risk Strategy:
A naked call writing strategy involves selling call options without owning the underlying stock. If the stock’s price surges significantly, the losses can far exceed the premiums earned, making this approach suitable only for experienced investors with a high-risk tolerance. Advisors must carefully assess their clients’ understanding and risk appetite before implementing such strategies, ensuring they align with the clients’ overall financial goals.
Peter Mallouk Red Flags & Your Rights As An Investor
Of course, Randy Morse did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Randy Morse has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Creative Planning Due To Randy Morse
If you have questions about about Creative Planning and/or Randy Morse and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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