Haselkorn & Thibaut (InvestmentFraudLawyers.com) has opened an investigation into former Morgan Stanley financial advisor Eric Brian Kleiner following his departure from the firm in April 2025 and multiple customer complaints throughout his career. If you invested with Mr. Kleiner and experienced losses or have concerns about your account management, you may have options for recovery.
Who is Eric Brian Kleiner?
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Eric Brian Kleiner (CRD# 4135180) worked as a stockbroker and financial advisor for over 25 years before leaving the securities industry. His career included positions at several major brokerage firms:
- Morgan Stanley (September 2016 – April 2025)
- Wells Fargo Advisors, LLC (July 2003 – September 2016)
- Prudential Securities Incorporated (April 2000 – July 2003)
Mr. Kleiner is not currently registered with FINRA as a broker, meaning he cannot conduct securities business or provide investment advice in his professional capacity.
Red Flags in Eric Kleiner’s Record
Several concerning patterns emerge when reviewing Mr. Kleiner’s regulatory history that investors should be aware of:
1. Multiple Customer Complaints
Throughout his career, Eric Kleiner has faced numerous customer complaints alleging various forms of misconduct. These complaints represent real investors who believed they were harmed by his actions and sought compensation through formal channels.
2. Pattern of Settlements
What’s particularly noteworthy is that several complaints against Mr. Kleiner resulted in financial settlements. When brokerage firms agree to pay settlements, it often indicates they recognize potential liability for their advisor’s conduct.
3. Recent Departure from Morgan Stanley
Mr. Kleiner’s departure from Morgan Stanley in April 2025, combined with his non-registered status, raises questions. When experienced advisors suddenly leave the industry, investors should review their accounts carefully.
Complete List of Customer Complaints Against Eric Kleiner
According to FINRA BrokerCheck records, Eric Kleiner has been named in the following customer disputes:
| Date Filed | Allegation Type | Status/Outcome | Why This Matters |
|---|---|---|---|
| 2018 | Unsuitable Investment Recommendations | Settled: $75,000 | Unsuitable recommendations occur when advisors place clients in investments that don’t match their risk tolerance or financial goals |
| 2019 | Breach of Fiduciary Duty | Settled: $125,000 | Advisors have a legal obligation to act in clients’ best interests; breaches can involve conflicts of interest or self-dealing |
| 2020 | Unauthorized Trading | Denied | Trading without permission violates securities regulations and client trust |
| 2021 | Excessive Trading/Churning | Settled: $95,000 | Churning generates commissions for the advisor while eroding client returns through unnecessary fees |
| 2023 | Misrepresentation | Pending | Providing false or misleading information about investments can lead to poor decision-making |
Note: This information represents publicly available data and may not include all complaints or their full details.
Why These Complaints Matter to Investors
Each type of complaint represents a serious concern:
- Unsuitable Recommendations: When advisors recommend investments that don’t align with your stated goals, age, or risk tolerance, you may face unexpected losses
- Breach of Fiduciary Duty: This fundamental violation of trust can manifest in various ways, from hidden fees to recommending products that benefit the advisor more than the client
- Unauthorized Trading: Making trades without your explicit permission violates both industry rules and your rights as an investor
- Churning: Excessive trading primarily benefits the advisor through commissions while increasing your costs and potentially reducing returns
- Misrepresentation: False or misleading statements about investment risks, returns, or characteristics can lead to devastating financial consequences
What Should Eric Kleiner’s Clients Do Now?
If you worked with Eric Kleiner at Morgan Stanley, Wells Fargo Advisors, or Prudential Securities, taking immediate action is crucial:
- Review Your Account Statements: Look for unusual trading patterns, unexpected losses, or investments you don’t recognize
- Document Everything: Gather all correspondence, account statements, and notes from meetings with Mr. Kleiner
- Calculate Your Losses: Determine if your portfolio underperformed or if you incurred unnecessary fees
- Understand the Time Limits: FINRA arbitration claims typically must be filed within six years of the occurrence
How Haselkorn & Thibaut Can Help
Haselkorn & Thibaut has over 50 years of experience helping investors recover losses from advisor misconduct. Our national securities fraud law firm has achieved a 98% success rate and recovered millions for clients across the country.
We understand how devastating investment losses can be, especially when they result from an advisor’s misconduct. That’s why we work on a contingency basis – if we don’t recover money for you, you don’t pay us anything.
Our experienced attorneys can:
- Review your case at no charge
- Explain your legal options clearly
- Handle all aspects of FINRA arbitration
- Fight to recover your losses
Get Your Free Consultation Today
If you invested with Eric Kleiner and have concerns about your account or experienced losses, don’t wait to seek help. The sooner you act, the better your chances of recovery.
Call Haselkorn & Thibaut now at 1-888-885-7162 for your free, confidential consultation. Our experienced investment fraud attorneys are standing by to review your case and explain your options. Remember, there’s no fee unless we recover money for you.
Time limits apply to investment fraud claims, so contact us today at 1-888-885-7162 to protect your rights and explore your options for recovery.
