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Eric Kleiner Allegedly Recommended Unsuitable Cannabis Securities

Eric Kleiner (CRD #: 4135180), a broker registered with Morgan Stanley, has a new investor dispute on his record. This is according to his BrokerCheck record, accessed on August 9, 2023. Details are provided below. 

On July 13, 2023, an investor alleged that Eric Kleiner recommended unsuitable cannabis securities. He alleges the investments were unsuitable in light of his age. The investor is seeking $300,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Eric Kleiner has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 16 states and D.C. He is a registered investment adviser in New York and Texas. 

Eric Kleiner has registered with the following firms: 

  • Morgan Stanley (CRD #: 149777) 
  • Wells Fargo Advisors (CRD #: 19616) 
  • Prudential Securities Incorporated (CRD #: 7471) 

Kurta Law Can Help

If you worked with Eric Kleiner and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.

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