National investment loss lawyers KlaymanToskes is investigating suspended broker Kirk Crossen (CRD# 2742256) formerly of Morgan Stanley and Raymond James.
According to FINRA BrokerCheck, broker Kirk Crossen, formerly of Morgan Stanley, is currently involved in several customer complaints alleging over $6,872,000 in collective investor damages. Crossen was suspended from acting as a broker by FINRA in relation to the regulator’s investigation into allegations that he borrowed a total of $400,000 through three loans from a customer.
Investors that suffered losses with broker Kirk Crossen are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Kirk Crossen formerly of Morgan Stanley is currently involved in several customer disputes. Additionally, FINRA has taken multiple regulatory actions against Kirk Crossen. In one matter, FINRA alleged that Crossen borrowed $400,000 from a customer—an 84-year-old trust beneficiary with diminished capacity—in violation of firm policy and industry rules, and that he concealed these loans on compliance questionnaires.
FINRA suspended Crossen indefinitely beginning May 1, 2025, after he failed to comply with an arbitration award, settlement agreement, or requested information regarding his compliance status. According to the regulator, the suspension will remain in effect until all required payments are made or obligations are discharged.
Additionally, Crossen was previously terminated from Raymond James for allegedly lacking candor during an inquiry related to borrowing from a former client. Morgan Stanley broker Kirk Crossen is currently the subject of several customer disputes involving significant alleged losses. The customers allege over $6,872,000 in collective damages and that the investment strategy executed in their accounts was unsuitable and was not what they had agreed to when they had discussed their investment goals and asset allocation.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Kirk Crossen, or have concerns regarding your investment portfolio at Morgan Stanley, Raymond James, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.