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

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

December 22, 2025
FINRA Overhauls Arbitration Rules to Rebalance Arbitrator Selection and Codify Forum Practices

The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.

December 19, 2025
Industry Groups Press Senate at Advance Financial Exploitation Prevention Act

Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.

December 18, 2025
UBS Warns of Rising Default Risk in Private Credit

A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.