A broker who worked for eight years at Morgan Stanley in The Villages is being investigated following complaints from his former clients.
Andrew Todd Yocum, who worked from 2007 to October 2015 at Morgan Stanley, was discharged from his position there following “allegations concerning acting on verbal discretion,” according to documents on file with the Financial Industry Regulatory Authority. After leaving Morgan Stanley, Yocum went to work for Summit Brokerage Services in Lady Lake. He is now owner of Tee to Green Investments LLC in Ocala.
Here is a list of some of the complaints made against Yocum:
• In January 2016 a customer alleged Yocum, while employed at Morgan Stanley, over-concentrated her account in energy stocks. The customer is seeking unspecified damages in the pending complaint.
• In November 2015 a customer alleged Yocum, while employed at Morgan Stanley, recommended unsuitable investments to a customer. The customer is seeking unspecified damages in the pending complaint.
• In June 2015 a customer alleged Yocum, while employed at Morgan Stanley, recommended unsuitable investments. The customer is seeking $98,500 in damages in the pending complaint.
• In May 2015 a customer alleged Yocum, while employed at Morgan Stanley, recommended unsuitable energy stocks in their managed IRA accounts. The complaint settled in August 2015 for $33,698.
FINRA barred Yocum from the securities industry after he failed to respond to a FINRA investigation.