Public records published by the Financial Industry Regulatory Authority (FINRA) on December 21, 2016 indicate that Illinois-based Morgan Stanley broker/adviser Karl Walz is the subject of a pending customer dispute. The experienced attorneys at Fitapelli Kurta are interested in speaking to investors who have complaints regarding Mr. Walz (CRD# 4999365).
Karl Walz has spent eleven years in the securities industry and has been registered with Morgan Stanley in Shiloh, Illinois since 2009. He was previously registered with Morgan Stanley & Company in Shiloh, Illinois and Morgan Stanley DW in Shiloh, Illinois. He is a registered broker and investment adviser with twelve US states: Arizona, California, Colorado, Connecticut, Florida, Illinois, Louisiana, Maryland, Missouri, Ohio, Texas, and Wyoming.
According to his BrokerCheck report, Karl Walz has received one pending customer complaint.
In November 2016 a customer alleged Karl Walz, while employed at Morgan Stanley, misrepresented material facts related to investments. The customer is seeking $14,000 in damages in the pending complaint.
Federal securities law prohibits brokers like Karl Walz from making untrue or false statements that can mislead their clients, an act referred to as “misrepresentation.” Nor may they omit material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have complaints regarding Karl Walz, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.