Morgan Stanley Fires Father-Son Team Managing $631,000,000 Over Family Payment Allegations
Morgan Stanley has fired a father-and-son advisory team that managed more than $600 million after alleging improper pay to a family member.
The firm terminated them on June 25, according to FINRA BrokerCheck records.
E. Bradford Hudgens, a 30-year Morgan Stanley advisor, is accused of using the firm’s Alternative Flexible Grid expense program to pay a family member in ways that did not match that person’s supposed job.
The bank also alleges he changed a client’s trust so he would stay on as advisor. A doctor later found the client lacked capacity.
His son, John Bradford Hudgens, was fired the same day. The firm says he knew about the family-member payments and raised concerns about his candor in the review. The bank says the son’s case did not involve sales practices or trading.
The team managed $631 million in Hot Springs, Arkansas. The father had been on Forbes state advisor lists since 2018 and also worked for the firm in New York, Minneapolis, Dallas and St. Louis.
Both men are now registered only as investment advisors with Concurrent Investment Advisors. They are no longer FINRA-licensed brokers.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post Morgan Stanley Fires Father-Son Team Managing $631,000,000 Over Family Payment Allegations appeared first on The Daily Hodl.
