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insearchoftheanswer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 53674
Experience:  Practicing lawyer for 31 years
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Number of years I owned stocks held by Morgan Stanley

Customer Question

For a number of years I owned stocks held by Morgan Stanley investment firm in NY. My stock Mgr recently moved to Merrill Lynch and I agreed to move my investments with him. He has now presented me with the terms of their management which includes binding arbitration. I object to this. What can I do? I never saw such terms when I was with Morgan Stanley.
Submitted: 5 months ago.
Category: Consumer Protection Law
Expert:  insearchoftheanswer replied 5 months ago.
Good afternoon. My name is ***** ***** I look forward to helping you. You have a couple of choices here. One, is to demand the provision be deleted from your agreement. Whether or not they will agree to this really depends upon the amount of money you have with them. The more you have, the more leverage you have, and the more likely they will delete the arbitration provision. Two, if they refuse to delete it, move your money/assets to a different investment firm that does not require you to sign an agreement with an arbitration agreement.

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