Morganstanley Anmeldelser 119

They say they welcome people to walk in anytime, this is advertised on their website. I travelled over an hour to discuss wealth management, and was willing to invest a substantial sum of money. However, after waiting at the reception for an hour I was told that no one was going to see me. I am taking my money elsewhere. They can't expect to blatantly lie to people online and still keep people's business. Rubbish company.

I wanted to take some money out of IRA s to pay money I owed for federal income tax car insurance and home owners insurance! She told me maybe I should look for a job since I m retired now and I told her this was my money! I don’t think I was treated to nicely since I am a customer/ client! I don’t like withdrawing money but what choice do I have- should I pay interest?

I've been doing business with Etrade since the late 90's. Really haven't had too much problem until Covid. On hold times were hours long. Then, I decided to open a business futures account along with a business checking account. I started the process in August of 2020. I worked with them submitting paperwork, resubmitting paperwork, and never getting anywhere. The customer service team would forward inquiries to the team that was denying my paperwork - never able to get a straight answer as to what was creating the issues. Finally, I moved most of my money to Ninjatrader accounts and Robbins who quickly set up my accounts. Thinking that I could get Etrade up and running I returned to the same nightmare that I had experienced before. After a few back and forth with customer service, the futures team just closed my account. So, they saved me from wasting time with them. They don't want my business? Other firms are making money with me. Etrade is not. So be it. You reap what you sow. Good bye Etrade.

ETrade used to be responsive, but now that Morgan Stanley owns them there are still nice support agents, but they can't do anything useful. Currently I'm just trying to open an additional business checking account. Should be simple, but so far am at 19 days with 2 calls to customer service. Sure the agents are nice and helpful, but at the end of it is resubmit a form for several days of processing.

Today's date is November 6th, 2022. Going to the login page on Morgan Stanley's website returns this message: "Morgan Stanley Online is unavailable due to scheduled system maintenance from October 16, 2022 1.00 a.m. ET to October 16, 2022 5:00 a.m. ET. We apologize for any inconvenience and thank you for your patience." Not sure how 4 hours of scheduled maintenance became 3 weeks of scheduled maintenance but if someone could investigate this, that'd be appreciated. I would like to have access to my money.

Do not use this firm for anything. After 5 days, 8 "customer service" representatives, they did not set up the on-line account properly, and could not do anything to help. The account was over 40 years old but had no on-line trading set up. Once finally getting the on-line account established for trading and then finding out we couldn't actually trade, we get start over again. Literally every rep said they didn't understand why the last rep had done what they did.

Tried to access accounts for my daughters in response to a letter that was sent to me, and the account is locked. Was told that my daughters needed to access the accounts because they are now over 21. That's fine, but not once did Morgan Stanley send anything to them to let them know, and in all of the documentation sent to me, this was never identified.
Poor communication and unhelpful customer service reps.

I'm not surprised to see Morgan Stanley has so many unhappy ex clients.
I was first sold a variable annuity and fixed annuity when I was a financially ignorant 28 year old. I've been told that's not good investment advice for a 28 year old. Morgan Stanley broker made a nice commission. These annuities also have high fees.
When my mom passed and left me some blue chip dividend paying stocks, I was advised to sell them and invest in Templeton World Fund with a 5.5% front load that has turned out to be a horrible investment over the decades I've held it. When I bought it in 1987 there were no no-load funds. Again, Morgan Stanley broker made nice commission, but I was screwed again.
Fast forward to early 2022, when I first contacted Morgan Stanley in Bellevue WA. to change allocations in my variable annuity due to being in a bubble with too much in high growth for someone my age. They finally got back to me months later, after the markets crashed and I lost over 200K and tried to get me to sell into a down market, which I didn't want to do. At that time I had unpleasant words with the broker, since I had been trying to get a hold of them when the markets were up and got no response until after markets crashed. I was asked to move my account to another brokerage because Morgan Stanley broker felt "threatened". They should feel threatened if they lose that kind of money for their other possibly unstable clients, due to being asleep at the switch and unresponsive.
Even I knew we were in a bubble and wanted to get out at the top, but they didn't get back to me until the markets crashed.
I also suspect some possible theft from my annuity, but can't prove it. I have SEC looking into it, but won't hold my breath.
I was also charged $150 per year service charge for bad advice and no service.
I would strongly recommend you don't do business with Morgan Stanley, after my experience with them. You can get better service with a low fee outfit like Vanguard.
After Morgan Stanley made their commissions on me, I never heard from them for over 30 years. You would think they would at least check in with you once a year, but I guess they're too busy spending their commissions.

We've had an E-TRADE account for longer than I can remember. On 9/6/22, I called the new owners, Morgan Stanley, to ask them to attach a simple travel notification to my debit card so I could use it in Costa Rica. Incredibly, it took seven days and conversations with five different people to get this done. I was on the phone for over three hours total.

During that time, agents asked me to photograph and upload a handwritten note with my name, account number, DOB, address, travel destination, dates of travel, and a signature. I did that. Then they decided I should photograph and upload my driver's license. I did. Then they decided I should photograph and upload my debit card. I did. Then they decided I should write today's date on the note and upload that. I did. Then they decided that I should write "Please place a travel notice on my card" on the note and upload that. I did. Then they decided I needed to submit my cell phone number and activate two-step authorization. I did. Eventually, they told me my card was set to go. Was it? Absolutely not. Instead, they made it so that my card would not work in the US or Costa Rica. I found this out when I tried to buy something in my hometown, and the card was declined.

I called MS back. They said they were going to send me a new card, because mine was set to expire in two months. When would I get this card? After I got back from Costa Rica. That was, of course, 100% unacceptable. I called an agent again and asked him to cancel my old card and send me a new card through the US mail, expedited. He did. Then I did the same stupid arts-and-crafts shenanigans with photographs that Morgan Stanley asked me for the first time, and I uploaded that.

I called Morgan Stanley to ask, for the nth time, that they put a travel notification on my debit card so that I could use it in Costa Rica. I also said that if this was not something they knew how to do, I was going to close out our account. An agent called Nick told me that they could not put in the notification, because I hadn't submitted two-factor authorization. I pointed out that I had done so seven days prior, and that this was visible in the Customer Service part of the Morgan Stanley website. He said that MS had not updated my data yet. He told me he was going to put me on hold while he talked with a manager, and we were immediately disconnected.

I called MS again and started waiting in a queue that a robot voice said would to take 30 minutes. Finally, Nick called me back and said he'd gotten the job done. We have over $600,000 in our Morgan Stanley account. (What can I say: even though we started out poor, money piles up when you don't have kids.) When I return from Costa Rica, I'm closing it out, because this is the worst customer service experience I've ever had in my life. Morgan Stanley is incompetent, inconsistent, over-encumbered with idiotic rules, and a national embarrassment. E-TRADE was great, but Morgan Stanley is a festering pile of garbage -- and I'm being diplomatic. Save yourself hours of hassle and never deal with these people. (I love my credit card with Farm Bureau Bank, though. They put a travel notification on my card in five minutes. That's how it should be.)

The most pathetic private banking experience, they put a flag on your account, you upload the documents and still your assets remain frozen for weeks and you are the one following up with them. Stay Away

horrible service. They locked my account due to "odd" activity. That activity was a deposit...DEPOSIT. So they locked my account, never called or communicated the issues. So then my paycheck direct deposit was cancelled and I didn't get paid.

Their response sorry but not our problem call your HR dept.

Worst banking experience of my life.

Oh and it took 3 hours of on hold and being shuffled around to get this information. Making me loose even more time and money.

This is a horrible company with inefficient systems and processes. It is very strange that they still can have business after such a bad customer experience.

Making profit of war, and turning a bling eye on war crimes!
History will never forget and your CEO will have to hode just like the russian oligachs!
Shame on you all!

Graystone Consulting is a member of Morgan Stanley office.

Worked with David aka "Dave" (Account Manager) from Cincinnati Ohio branch in Montgomery and would say this is complacency at it's finest. Their service and "management" style of brokerage accountants. When they act like they are doing you a favor to have an account with them, be careful with this kind of elitist entitlement.

If netting bank-level interest gains and outright apathy matters to you, by all means, go with David/Dave of Graystone Consulting, a Morgan Stanley office.

They will tell you one thing and do another. UNLESS, your accounts are over 250K or more, they stick you in low performing accounts with a "hands-off" anti-management strategy.

- Was referred to them by a family member.
- Put in over 50K with their flag flop UMA account
- Was not a great experience "managed" account was too hands-off, as in they don't care.
- After a meeting with David/Dave (now I know this is a canned response), he said he'd re-look at my portfolio (because of some overlaps in investments) for rebalancing and never did. Took over two weeks, then during recent correction period in January, lost 6K+. Maybe if they cared it would have minimized risk, but we would never know how the account would have done...
- Would not trust them to handle your money, they want big accounts where they can do losses and gains on auto-pilot and your happy with trivial gains. In my case the gains never happened. Tip: Learn to self-manage your own money at least you're not paying someone else to lose it for you...
- Don't let them put your portfolio under 100K in a UMA account, with flat or consistent losses
- When tried to complain on their lack of responsiveness on handling my account they were pretty nonchalant, like losing your money is their way of life. Work with a firm to work for you not against you...
- Next morning after again asking David/Dave to do as he promised, was contacted by a Senior member (Kate) of their firm and was told they would not honor their promises and instead of doing as they said they'd do, advised that if not happy with their services she and David encouraged me to move my account to a different brokerage firm or liquidate (remember they already lost 6K of my money).
- Really think twice about doing business with "professionals" like the David's and Kate's of the world who don't authentically care about your earned money.
- The general Morgan Stanley's 1 star reviews about lack of customer services as well as doubling back on the word, is a lesson.

Do a search on sentiments in general about Morgan Stanley I wish I did before moving money there. I will be taking SEC and "breach of trust" actions against this firm.

*I do honest reviews about companies I worked with so hopefully it will help you avoid the walk of shame. My bar on "service" is based on quality, value and delivery. Call me ordinary for expecting this from any company I spend money with.

Trying to get my funds into my bank accounts has been 3 months (and still going) of me constantly calling and emailing and calling and emailing and tearing my hair out. It is getting to the point it feels illegal how hard it is for me to just transfer my funds. To say I have been on the verge of tears from sheer frustration is an understatment. Will be seeking legal advice by end of this week due to the lack of progress and ability to actually have decent, consistent customer service contact

The stockplanconnect website update that was recently released is one of the worst websites I have ever seen. It has gone from a few seconds and a couple of clicks to submit a transaction, to now taking several minutes and 5-6 screens. The performance is terrible, with screen refresh times 30-60 seconds - ridiculous! I hope they didn't pay whoever did the UX design :(

If you are looking for a broker, I would advise looking elsewhere. My father had an account with Morgan Stanley since the 1970s. When he passed away in 1994, my mother inherited the account. She passed away this year and there really wasn't much left as she had withdrawn most of it over the past 27 years. However, getting anyone to CLOSE the account was like pulling teeth. Email after email went unanswered even after I had sent in the requested documents. Week after week passed. Then I found out that the person in charge of my mother’s account in the estate section had left the company and that we had fallen through the cracks, as they put it. Okay, so I get a new guy who is helpful enough to fill out the papers in advance and mail them to me. Wow, what a positive impression he made UNTIL I sent in the papers and even he went silent. Calls, emails, calls, emails. No answer from him. Finally, on one call he doesn't pick up so I am transferred to the first available representative. Lo and behold! It's the guy I have been trying to reach for weeks. FINALLY FINALLY He connects me to someone who liquidates the account, for a fee, of course. Yes, I got the check. By their standards it is small potatoes but, as executrix, I still have to collect it.
One thing that still irks me, though, is that, many years ago, Morgan Stanley cost my mother a huge loss because of bad advice from a broker. My brother had asked about a particular utility stock and the broker assured my mother and brother that utilities were solid. Within a year the company had gone bankrupt. When my brother called him out in it, he laughed! Incredible! Well, it wasn't money out of his pocket, right? Never again will we use Morgan Stanley. No loss? Well, dear Morgan Stanley, my parents also invested in real estate so I am going to have a chunk of cash to invest. Just not with YOU.

They are sloppy. I've tried three transfers (shares in, cash out by ACH, cash out by wire) and they screwed up all three of them. Once they screw up, you have to call (during east coast bankers hours) and talk to at least three people in order to resolve their mistake. If you want to confidently access your own money, use another bank.

Hi Duncan,

I guess you and Marilyn didn't do the right thing and just moved her out. I'm a professional and unfortunately, you are not. When people move in, they are supposed to give notice if moving regardless if a contract signed or not.

You and Marilyn, had an out and took it, but not even giving a written notice is not right. Not that it mattered to you, but I had to pay a full months referral fee for the placement and now it's gone. I only made money on 2 weeks of housing and lost one months rent to an agency behind you guys.

Please send me your boss name and number so I can file a complaint against you. You could have asked Marilyn to pay the full month's rent and paid for the death of my dog to make the situation reasonable but you both choose not to. Very cold people.

You also failed to help in the reimbursement of my dog that Marilyn left outside to be killed by a coyote and then to be told by you, "that was not her responsibility " was very hurtful as well. Marilyn let out her dog and my dog followed. Because she didn't care for my dog, she had no conscious to bring my dog back in. She intentionally closed the door on him and left him outside to be killed by a coyote.

I believe her action was very careless and and heartless on both your part. My dog is dead and you moved her like it was nothing. That's the part the hurts me. My dog is dead with no remorse and accountability from you or Marilyn.

After all is said and done just so you can keep managing her money, have become an enabler to Marilyn and that's not good.

I know the facility very well where Marilyn went to and if she's doing the same negative actions she did at our place, she's not going to last there either.

I advised them to get her contract signed so if she's ready to jump and leave, she'll owe (3 )months full months of rent. No one does such unprofessional things like this. No one seemed as uncaring as you and Marilyn regarding this matter and that's unfortunate.

I'll await your boss name, number and email.

Oh, by the way here's what was left of my dead dog, thanks to you and Marilyn Carson.

I would not do any business with this agency or this agent. He had no ethics or compassion for me or my dog.

Don't really care about their customers. Their system is old fashion and buggy. Very complex and they only offer support over phone. You can't transfer shares from their platform. I have tried this for 6 month now.