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.

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