How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask insearchoftheanswer Your Own Question
insearchoftheanswer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 55700
Experience:  Practicing lawyer for 31 years
Type Your Consumer Protection Law Question Here...
insearchoftheanswer is online now
A new question is answered every 9 seconds

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: 1 year ago.
Category: Consumer Protection Law
Expert:  insearchoftheanswer replied 1 year 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.