The Frankowski Firm is investigating potential claims against David Chadwick Carrick and Stifel, Nicolaus & Company, Inc., following a lawsuit filed in Greene County, Mississippi earlier this year on behalf of an elderly client of Mr. Carrick’s surrounding allegations of wrongdoing alleged to have occurred while he was an employee of Morgan Stanley Smith Barney and Sterne, Agee &Leach, Inc. (which was bought out by Stifel Nicolaus).
The Complaint alleges that the client, who was approximately 76 years old and in declining mental health at the time of the events at issue, was not informed that Mr. Carrick had been terminated by Morgan Stanley for violations of firm policies. The client alleges tremendous losses to her account dating back to 2009 and alleges that the losses were caused by Carrick’s negligence, overconcentration in risky positions, and lack of loss-limiting implementations. The Complaint further alleges that Stifel, Nicolaus was negligent in its failure to supervise Mr. Carrick.
Mr. Carrick’s FINRA BrokerCheck report discloses this complaint against him. It also details Mr. Carrick’s discharge for cause from Morgan Stanley Smith Barney in September 2009 based on findings that Carrick altered a journal form and letter of authorization previously signed by a client in an effort to expedite movement of funds and improperly entered the operations area to fax the documents.
The BrokerCheck report further shows that Mr. Carrick’s registration with Stifel, Nicolaus ended in August 2017 and that he is presently employed by Jeffrey Matthews Financial Group, LLC in its Fairhope, Alabama branch.
If you or someone you know lost money as a client of David Chadwick Carrick; Morgan Stanley Smith Barney; Sterne, Agee & Leach, Inc.; Stifel, Nicolaus & Company, Inc.; or The Jeffrey Matthews Financial Group, LLC. due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.