Drew Reinhardt Allegedly Made Excessive Trades
Drew Reinhardt (CRD# 1457827), a broker registered with Morgan Stanley, made excessive trades, according to a recent, denied investor dispute. MDF Law is investigating the Doylestown, Pennsylvania-based financial professional for similar conduct. We encourage investors to contact us if they have concerns about their accounts.
To learn more about the history of investor disputes involving Mr. Reinhardt, continue reading. This post is sourced from his Financial Industry Regulatory Authority (FINRA) BrokerCheck profile, accessed on February 12, 2024.
Firm Denies Trading Dispute
On January 11, 2024, an investor lodged a dispute alleging that Mr. Reinhardt excessively traded in mortgage-backed securities to generate commissions. His member firm denied the claim, which sought damages of $54,273.
Past Disputes Alleged Suitability Violations
The above-described excessive trading dispute is not the only one in Mr. Reinhardt’s past. Between 2016 and 2019, three other parties of investors filed disputes involving him. These claims detailed allegations of unsuitable investment recommendations, including in the account of an elderly client. His member firm settled the disputes for a total of $129,999.99.
Drew Reinhardt Currently Registered with Morgan Stanley
As a representative of Morgan Stanley, Mr. Reinhardt offers retirement planning, investments, business planning, and other services, according to his advisor webpage. “I can help you define and strive to meet your goals by delivering a vast array of resources to you in the way that is most appropriate for how you invest and what you want to achieve,” he informs customers in a description of his services. “You will have access to some of the world’s most seasoned and respected investment professionals, a premier trading and execution platform and a full spectrum of investment choices.”
FINRA: Reinhardt Based in Doylestown, Pennsylvania
Drew Reinhardt embarked on his career as a broker in 1986, when he registered with Prudential Securities’ office in New York, New York. He worked at the firm until 2001, when he left for Morgan Stanley. He has remained at Morgan Stanley until the present day, working at its office in Doylestown, Pennsylvania. With 38 years of experience as a broker, he has completed five industry exams, including the Series 7, Series 3, and Series 65.
Excessive Trading? Contact MDF Law for a Free Consultation
Are you a current or former client of Drew Reinhardt with concerns about your accounts? Were your investments traded excessively, or were you unaware of their risks? You may be eligible to pursue a FINRA arbitration proceeding to recover lost funds. MDF Law’s legal team has decades of experience shepherding investors through this process, securing more than $100 million in recoveries. Not only do our clients only pay a fee if they win, but we currently offer free consultations to investors nationwide. Call 800-767-8040 to speak with an attorney today.