The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Bryan Musso. According to his publicly available FINRA BrokerCheck report, Bryan Musso has been the subject of multiple customer disputes.
Bryan Musso was a Louisiana based securities broker. He worked in the securities industry for twenty-six years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- Morgan Stanley (1993-2002, 2009-2010)
- Citigroup Global Markets (2002-2009)
- Wells Fargo (2010-2019)
The Allegations
- In May 2011, customers alleged that Bryan Musso made unsuitable recommendations regarding their retirement. This case was settled for $445,220 in damages.
- In December 2017, customers alleged that Bryan Musso recommended highly unsuitable alternative investments in the oil and gas sector. This case was settled for $300,000 in damages.
- In July 2018, a customer alleged Bryan Musso mismanaged their account by placing them in unsuitable annuities and alternative investments. This case was settled for $50,000 in damages.
What Does This Mean?
The term “alternative investments” is used to describe non-traditional securities that are privately traded. These products are very poorly regulated due to the fact that they are not traded on any public securities exchanges. This creates a great potential for oversight when dealing in these products. Many less than scrupulous securities brokers take advantage of how poorly regulated these privately traded securities are and misrepresent them to customers as safe and lucrative investments. However, nothing could actually be further from the truth. Alternative investments are speculative and illiquid securities that are unsuitable for most investors. Despite this, some brokers will still push them onto unsuspecting investors due to the incredibly high commissions that brokers receive when brokering a trade involving an alternative investment.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Bryan Musso, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
