Jesse Bromberg-Morgan Stanley – $6 Million Dispute & More

The San Francisco-based financial advising business Bromberg Group Morgan Stanley has a lot of secrets. At first glance, the company appears real and trustworthy; nonetheless, several of the stipulations in its disclosures raise red flags.

This company, for instance, employs the widely reviled practice of charging clients based on their performance. To help you make a more educated decision about the Bromberg Group, this review will go over a few more problems that exist there.

The Jesse Bromberg Organization Bank of Morgan Stanley

In the Bromberg Company Morgan Stanley is a San Francisco-based financial advisory firm. You may reach them at 415-693-6876 or visit them at 101 California St 23rd Fl, San Francisco, CA 94111, US.

Jesse Bromberg and his group of advisors oversee the company. Financial planning, wealth management, executive financial services, corporate cash management, sustainable investing, institutional services, alternative investments, and more are all part of his repertoire of offerings at this organization.

Nelly Berkovskaya, Sean Pipkin, and Alex Pulido are just a few of the other well-known employees here.

The company boasts of its superior service and innovative approach to wealth management. Their terms and conditions, however, paint a very different picture.

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The company has made it clear that it can turn a profit by ignoring your financial needs. In addition, Jesse Bromberg strives to keep his history of customer disputes from his present and potential clients.

In the following section of my review, I will explain how this company lures naive investors into signing contracts to their detriment.

Bromberg Group Problems The Multimillion Dollar Client Dispute That Morgan Stanley Is Trying to Keep Secret

The Jesse Bromberg Group makes numerous inflated claims regarding its level of knowledge and the caliber of its services. However, the company’s management isn’t as trustworthy as it pretends to be.

Jesse Bromberg had a multi-million dollar customer dispute in December of 2000, according to his FINRA BrokerCheck report. A client had written in to complain that the financial advisor had ignored their requests for advice about liquidating COVID over the first three quarters of 2000.

Jesse Bromberg customer was seeking compensation of $6,000,000.00.

Jesse Bromberg’s company dismissed the allegation as baseless and tried to escape liability by doing so.

Few financial advisors ever have to deal with a court issue, much less one for $6 million. This lawsuit is further evidence of Jesse Bromberg’s habit of putting his own needs ahead of those of his clients. He’s either reckless or selfish.

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His revelations seem to indicate the latter is the case.

Even still, a dispute of $6 million is significant. Remember this when thinking about hiring the Bromberg Group as your fiduciary. The following are examples of clauses in their disclaimers that make it hard to trust them:

Paying for Results

A financial advisor that charges performance-based fees will only get paid if they outperform an established benchmark or index. This pricing structure looks great on paper. Though, this motivates the advisor to pursue high-risk techniques that are terrible for your finances.

High-risk tactics can cause you to lose a large portion of your wealth during market downturns. Further, when implementing such strategies, financial advisors frequently double down on risk, which results in subpar returns for their clients.

You may “outperform” the market average with your investments, but you’d still end up with terrible results. That’s why the banking sector frowns so hard upon fees tied to performance.

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You should stay away from this pricing structure and be wary of any advisors who recommend it.

12b-1 Conflicting Fees

The Jesse Bromberg’s company provides services that incur 12b-1 fees. A marketing expense that contributes nothing to the value of the security is the 12b-1 fee. The investment price will rise as a result.
The 12b-1 charge is entirely retained by the advisor and provides no value to the client. Untrustworthy financial advisors often use this tactic to steal money from their clients.

Some might argue that the higher 12b-1 charge is worth it because of the potential benefits it provides, but they would be wrong. There is no correlation between 12b-1 fees and lower returns on investments, according to an SEC analysis. Investments that tack on this fee had a worse return on investment as a result.

This is a major warning sign, and it’s just one more reason to stay far away from the Bromberg Group.

Making Money Through Company Commissions

You hire a financial advisor because you want advice tailored to your specific situation and objectives. In the case of the Bromberg Group, however, the advisors make investment recommendations depending on the commissions they can receive.

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Morgan Stanley is one of the largest banks in the world, and this company is a division of it. Commissions for advisors who sell Morgan Stanley’s bespoke financial products can be rather high.

Commissions from selling such items can influence advisors’ recommendations. They stand to gain financially if they disregard your financial needs and objectives. Furthermore, it limits the range of investment options a financial advisor can suggest to their clients.

This is the primary cause of providing inappropriate advice and making false claims. UBS had to compensate investors $358,000 lately because their advisors had advised a UBS proprietary product without first ensuring that it was suitable for them. Advisors who profit from such items should be avoided.


For the vast majority of investors, The Jesse Bromberg Group is not a good option. They are dishonest, dishonest, and selfish. This company does everything wrong that a financial advisory firm should not do, from collecting an unnecessary fee to having dubious management.
For these reasons, the Bromberg Group should be avoided as a business partner.

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