The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Daniel Morris. According to his publicly available FINRA BrokerCheck report, Daniel Morris has been the subject of multiple customer disputes over the course of his career.

Daniel Morris is a Connecticut based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he has been registered with twelve different securities firms.

His Registrations

  • E.F. Hutton & Company (1982-1983)
  • Bear, Stearns & Co. (1983-1987)
  • Painewebber Incorporated (1987-1993)
  • The Stamford Company (1993)
  • D. Blech & Company Incorporated (1993-1994)
  • Josephthal Lyon & Ross Incorporated (1994-1995)
  • Hampshire Securities (1995-1998)
  • Gruntal & Co. (1998-1999)
  • Aurora Capital (1999-2002)
  • R.F. Lafferty & Co. (2002-2011)
  • Oppenheimer & Co. (2011-2016)
  • Westport Capital Markets (2016-Present)

The Allegations 

  • In October 1991, a customer alleged that Daniel Morris excessively traded their account, executed unauthorized trades, and recommended unsuitable investments. This case was settled for $19,000 in damages.
  • In May 1992, another customer alleged that Daniel Morris excessively traded their account, recommended unsuitable investments, and executed unauthorized trades. This case was settled for $750,000 in damages.
  • In February 1995, a customer alleged that Daniel Morris recommended unsuitable investments. This case was settled for $23,812 in damages.
  • In March 2017, a customer alleged that Daniel Morris executed unauthorized trades, recommended unsuitable investments, churned their account, and made material misrepresentations about investments. This case was settled for $165,000 in damages.

What Does This Mean?

There is a common misconception among investors that hiring a securities broker essentially equates to forfeiting financial control over your invested funds. This is most certainly not the case. Securities brokers are still required to obtain their customer’s authorization whenever executing trades on their behalf. Whenever securities brokers execute trades without their customer’s authorization, they are are usually trades that said broker has no business recommending in the first place. This type of investing very often leads to customers experiencing significant financial losses.

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 Daniel Morris, 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.