Joe Notarfrancesco Involved in Real Estate Fund Dispute

Joe Notarfrancesco (CRD# 6006136[1]), a broker registered with Morgan Stanley, recommended an outside investment that failed to make payments, according to an investor dispute. MDF Law is investigating the Melville, New York-based financial professional for similar conduct. Investors with concerns about their accounts should contact our team for a free consultation.

To learn more about the allegations against Mr. Notarfrancesco, continue reading this post. The information below is sourced from his BrokerCheck record, a Financial Industry Regulatory Authority profile reviewed on October 25, 2024. 

Allegations: Fund Failed to Make Payments

On August 13, 2024, an investor filed a dispute involving Mr. Notarfrancesco. The claim alleges that he recommended an “outside real estate investment fund” that failed to make payments on the dates it promised. While it is still pending, the dispute seeks $194,000 in alleged damages.

Understanding Essential FINRA Rules

The conduct alleged in the above-described pending dispute may relate to several FINRA rules. FINRA Rule 2010[2], for one, establishes that brokers must observe high standards of commercial honor and just and equitable principles of trade. At the same time, FINRA Rule 2020[3] prohibits them from using “manipulative, deceptive, or other fraudulent device[s] or contrivance[s]” to effect transactions. Finally, Rule 2111[4] requires them to recommend investments that are suitable for their customers. 

What is The 58 Group at Morgan Stanley?

According to Morgan Stanley’s website[5], Mr. Notarfrancesco is a member of a practice within the firm known as The 58 Group. “Our clients are diverse and accomplished individuals, families, and businesses that have achieved considerable financial success,” reads the group’s description. “Our mission is to help each client protect what they have earned, simplify their financial life, and create a bespoke financial plan to achieve what they have worked their whole life to accomplish.”

The group’s services include financial planning, life insurance, retirement planning, portfolio management, and executive financial services, according to the website. Mr. Notarfrancesco’s professional biography explains that he is a Senior Vice President and Senior Partner in the group. He is also a Corporate Retirement Director, Financial Wellness Director, and Workplace Advisor. 

“With a portfolio encompassing nearly half a billion dollars in managed wealth, Joe brings targeted and unique strategies to his clients and achieves results,” his bio reads. “Joe prides himself on his ability to understand his clients’ unique circumstances and offers solutions to allow them to make the most out of their money, both on a corporate and personal level.”

FINRA: Joe Notarfrancesco Based in Melville, New York

Mr. Notarfrancesco launched his career as a broker in 2013. That year, he joined Morgan Stanley’s offices in Melville and Massapequa, New York. He has remained at the firm since. With 11 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 66.

Contact a Broker Fraud Attorney Today

If you lost money on investments recommended by Joe Notarfrancesco, you may have recovery options. The dedicated broker fraud attorneys at MDF Law[6] have proven experience advocating for investors in your position. We have the expertise necessary to shepherd you through the complexities of the FINRA arbitration process. We also take cases on a contingency basis, which means we only collect a fee if you win. Call 800-767-8040 for a free consultation today.