BBB Business Review

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Morgan Stanley

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Fax: (212) 259-1253 View Additional Phone Numbers 1585 Broadway, New York, NY 10036 http://www.morganstanley.com View Additional Web Addresses


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BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that affect the rating for Morgan Stanley include:

  • Failure to respond to 3 complaint(s) filed against business
  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

26 complaints closed with BBB in last 3 years | 8 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 2
Delivery Issues 2
Guarantee/Warranty Issues 0
Problems with Product/Service 22
Total Closed Complaints 26

Customer Reviews Summary Read customer reviews

2 Customer Reviews on Morgan Stanley
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 2

Additional Information

BBB file opened: November 18, 1999 Business started: 01/01/1923
Business Management
Mr. James P. Gorman, Chairman and CEO Mr. Mark Eichorn, Global Co-Head of Investment Banking Mr. Greg Fleming, President of Morgan Stanley Wealth Management, President of Morgan Stanley Investment Management Mr. Colm Kelleher, President of Institutional Securities, CEO of Morgan Stanley International Ms. Ruth Porat, Executive Vice President and CFO Mr. Jim Rosenthal, Chief Operating Officer
Contact Information
Principal: Mr. James P. Gorman, Chairman and CEO
Business Category

INVESTMENT SECURITIES

Alternate Business Names
Morgan Stanley Smith Barney
Additional Information

On February 2, 2016, the Federal Deposit Insurance Corporation (FDIC) announced a $62.95 million settlement of residential mortgage-backed securities (RMBS) claims against Morgan Stanley & Company LLC. The settlement funds will be distributed among the receiverships for three failed banks – Colonial Bank of Montgomery, Alabama, which failed on August 14, 2009; Security Savings Bank of Henderson, Nevada, which failed on February 27, 2009; and United Western Bank of Denver, Colorado, which failed on January 21, 2011. Along with $24 million from a settlement with Morgan Stanley last year of RMBS claims related to Franklin Bank, S.S.B., of Houston, Texas, which failed on November 7, 2008, this settlement brings total RMBS claim settlements by the FDIC with Morgan Stanley to $86.95 million. This settlement resolves federal and state securities law claims based on misrepresentations in the offering documents for 14 RMBS purchased by the three failed banks. As receiver for failed financial institutions, the FDIC may sue professionals and entities whose conduct resulted in losses to those institutions in order to maximize recoveries. The FDIC as receiver for the three failed banks filed four lawsuits from February 2012 to January 2014 against Morgan Stanley and other defendants for violations of federal and state securities laws in connection with the sale of RMBS to the three failed banks. As of December 31, 2015, the FDIC has filed 19 RMBS lawsuits on behalf of eight failed institutions, including the four lawsuits against Morgan Stanley, seeking damages for violations of federal and state securities laws. This settlement, which resolves all of the FDIC's RMBS claims against Morgan Stanley that were brought in those lawsuits, was reached in coordination with the U.S. Department of Justice.

On August 22, 2013, Morgan Stanley, owner of the world's largest brokerage, was fined $1 million for buying and selling bonds for customers at unfair prices. The Financial Industry Regulatory Authority (FINRA) also ordered the bank to pay $188,000 in restitution to customers.


Customer Review Rating plus BBB Rating Summary

Morgan Stanley has received 3.23 out of 5 stars based on 2 Customer Reviews and a BBB Rating of A-.

BBB Customer Review Rating plus BBB Rating Overview
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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.