Tr?id=566623520170033&ev=PageView&noscript=1

Morgan Stanley Terminates Veteran Financial Advisor Over Real Estate Deal

Posted on May 22nd, 2025 at 4:14 PM
Morgan Stanley Terminates Veteran Financial Advisor Over Real Estate Deal

From the Desk of Jim Eccleston at Eccleston Law

Morgan Stanley has terminated advisor Erich A. Canseco, a 17-year industry veteran whose Houston-based team managed $1 billion in assets and earned recognition on Forbes’ 2024 Best-In-State rankings.

AdvisorHub reports that the firm discharged him in March due to “concerns” over his involvement in and benefit from a private real estate transaction between two Morgan Stanley clients. The firm also cited his failure to fully cooperate during its internal review of non-business communications with two separate clients.

Canseco did not respond to AdvisorHub’s request for comment via LinkedIn. A firm spokesperson declined to comment on the termination.

The firm, which employs approximately 15,000 advisors, has placed greater emphasis on monitoring outside activities. According to AdvisorHub, in 2024, Morgan Stanley also parted ways with a Houston branch manager, citing loss of confidence related to undisclosed family investments and custodial account management.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: Eccleston, Eccleston Law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

1781028252 Law
June 9, 2026
FINRA Arbitration Panel Orders &Partners and Broker to Pay Wells Fargo $1.25 Million

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered &Partners and broker David M.

1780940050 Law
June 8, 2026
FINRA Sanctions Oppenheimer for Misclassified Client Statements Involving CMOs

The Financial Industry Regulatory Authority (FINRA) has fined and censured Oppenheimer & Co.

1780676353 Law
June 5, 2026
Redemption Pressure Mounts Across Private Credit and Non-Traded BDC Market

Investors continued pulling money from private credit and nontraded business development companies ("BDCs") during the first quarter of 2026 as concerns about liquidity and portfolio valuations intensified across the sector, according to reporting by InvestmentNews.