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Barry Pechenik is a Senior Vice-President at Morgan Stanley Private Wealth Management in Dallas, Texas, and he has been a registered broker with Morgan Stanley since 2015. According to FINRA’s BrokerCheck, he has been the subject of 1 disclosure. Additionally, Pechenik’s investment recommendations are also the subject of a current dispute concerning an elderly investor who sustained over $500,000 in losses. That case involves various investment products, such as Master Limited Partnerships (MLPs), oil and gas equities, and investments governed by Harvest Volatility Management’s Collateral Yield Enhancement Strategy (CYES).
Peiffer Wolf is currently investigating claims against Barry Pechenik of Morgan Stanley. He is a Senior Vice-President at McKinney Kelton Godat Pechenik (a Morgan Stanley Private Wealth Management).
Despite claims on the website that Private Wealth Management helps clients “manage investments with an unwavering focus on [their] financial strategy and personal goals” and “create comprehensive, multigenerational wealth management plans based on [their] needs, challenges and the values that guide [their] life and legacy”, Barry Pechenick and Morgan Stanley are facing allegations of doing exactly the opposite to at least one client.
According to a FINRA arbitration recently filed, the client was misled by promises of minimal risks in investments that, in the end, amounted to losses of more than half of a million dollars. The client alleges that Barry Pechenik recommended investing in products that required the use of margin (like structured products, oil and gas equities, etc.), which means he allegedly did not follow the legal and regulatory obligations to recommend only suitable investments that are appropriate for each individual client.
According to FINRA’s BrokerCheck website for Public Disclosures, Barry Pechenik has also 1 Customer Dispute from 2019 with allegations of unsuitability.
To review unsuitability’s Brokercheck report, click here:
https://brokercheck.finra.org/individual/summary/1720138
*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)
Were You a Victim of Investment Fraud or Broker Misconduct?
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
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Barry Pechenik Client?
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Prior to the Morgan Stanley, Berry Pechenik was a registered broker with Credit Suisse Securities, UBS Financial Services, Goldman Sachs & Co., Bancamerica Securities, Lehman Special Securities, Lehman Government Securities, and Lehman Brothers. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.
FREE Consultation | 585-310-5140
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating Barry Pechenik’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
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Brokercheck®️ report
