Southfield Advisor Loren Morrison: Negligence Complaint

Stifel Nicolaus & Company financial advisor Loren Morrison (CRD# 4578161) recently recently received an investor complaint alleging seven-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Southfield, Michigan, and that he was previously registered with LPL Financial.

Mr. Morrison’s BrokerCheck report discloses three investor complaints. The most recent, filed in August 2022, alleges that as a representative of Stifel Nicolaus & Company, he engaged in negligence, breached contract, breached his fiduciary duty, and recommended unsuitable equity investments. The pending complaint alleges damages of $1,843,116.64.

A second investor complaint, filed in June 2022, alleges that as a representative of Stifel Nicolaus & Company, he failed to conduct adequate due diligence, made an unsuitable investment recommendation, executed excessive trades, engaged in unauthorized trading, breached his fiduciary duty, and breached contract. The pending complaint alleges unspecified damages estimated to be more than $5,000.

A third investor complaint, filed in 2010, alleged he made excessive and unauthorized transactions. In 2011 the complaint reached a settlement of $25,000.

According to the Financial Industry Regulatory Authority, Loren Morrison holds 20 years of securities industry experience. Based in Southfield, Michigan, he has been a broker and an investment advisor with Stifel Nicolaus & Company since 2021. His past registrations include LPL Financial (Southfield, Michigan; 2009-2021), Echotrade (Phoenix, Arizona; 2009), UBS Financial Services (Birmingham, Michigan; 2004-2009), and Morgan Stanley DW (Purchase, New York; 2002-2004). His credentials include five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Colorado, Delaware, the District of Columbia, Florida, Illinois, Kentucky, Michigan, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, Virginia, and Wisconsin. (Information current as of October 16, 2022.)

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