New Reviewer

THE worst customer service EVER

Sold shares on 17th July, 3 weeks later still no funds in my bank, morgan stanley call centre staff fob you off, and no managers call you back. 3 weeks later still not resolved
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#1614693 Review #1614693 is a subjective opinion of poster.
  • Staff dont know what theyre doing
  • No returned phone calls
  • Lack of service
Reason of review
Order processing issue
Preferred solution
Deliver product or service ordered
New Reviewer

Failure to Transfer Assets Timely

I was made Co-Trustee of my father's account (Active Asset Account ) in 2011. My dad passed away August, 2017. Since that time, we (his beneficiaries) have encountered multiple delays, no return phone calls, staff members contradicting what the previous representative had said, inaccurate information given to the beneficiaries and when caught, the representatives do nothing correct the inaccuracies. We have received multiple excuses, but little in the way of action. They have sent us expired revisions of documents to complete x 3, then told us we filled out the wrong forms. To date, it took 11 months to change the name and the Active Asset Account, and Morgan Stanley still has not transferred the funds from Dad's IRA to the inherited IRAs of his beneficiaries. We believe Morgan Stanley (MSSB) is too large a company for individual investors who do not have millions invested and because of all the SEC and FINRA penalties they have suffered in the last few years, they would rather do nothing than make or admit to an error.
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1 comment

They are holding out intentionally in order to profit from the accrued interest.

#1391494 Review #1391494 is a subjective opinion of poster.
Albuquerque, New Mexico
Morgan Stanley Smith Barney Investment Service
  • Multiple delays
  • Leading to more delays
  • Representatives giving inaccurate information
Reason of review
Poor customer service
Preferred solution
Let the company propose a solution

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