Morganstanley Reviews 119

Old employee stock plan. I required a login to access my account. What has followed defies belief. My initial phone call was at the beginning of August 2024, as of today I'm 12 phone calls in, 20 emails out and hours of my time wasted and the issue still hasn't been resolved. Call centre operators have no idea about Morgan Stanley internal requirements/processes (archaic), they just apologise for the inconvenience and ask for the same documents to be resent over and over again. I'm beginning to wonder if the agents bonuses are paid on call volumes instead of cases closed. Morgan Stanley seem to conveniently forget that the stocks they are managing belong to the investor not them.

I keep reading time after time bad reviews i hope people looks at this before they lose there money my lawyer will be calling morgan stanley i tried for a week testing my 88 yr.old mother up set her so bad she end up in the hospital hope they don't get rid of the record calls csuse by 3rd.call i was recordind too i let u know how our lawyer hope he is able to sue ,sue

After our father died, as his executor, I had a horrible, year long, experience with Morgan Stanley. He had an IRA stock account at MS.
"Estate & Inheritor Services" division was a disaster! Abborent.
I spent no fewer than 40 hours dealing with them. Asked for a supervisor, no response. Condescending and repeatedly and blatently dishonest. No response to correspondence for weeks. No forms provided or available for transactions and information MS required. Instead: "you submit your informaton, we can't provide advice." I prepared and forwarded signed/notarized documents. 6 weeks later: "rejected by legal, try again." Nine months into the frustration, a new rep (finally) is assigned, more delays, continued push back, not as condesceding rep. We finally finished what should have been a simple transfer to the heirs, with each share to be into transferred into an individual MS account.
This part should be simple, but no! More problems with that MS division -- more wasted hours. I got out as soon as I could--and lost money. I will never deal with MS again, and tell others my and our family's story with this firm. After more than a year: this wasn't just one or two or three people or departments at MS. Based on our experience, this is a systemic, corporate, cultural problem.

My initial problem was that a wrong address was placed on my account due to technical reason according to them, and thus online access is locked. In the last three months, I have being trying to get the issue resolved and encountered unbelievable problems within Morgan Stanley. There is no ownership, no accountability, no commitment. Only thing they have is disconnection among different departments. After three months, the problem still not resolved. This is a poorly managed company.

Absolutely despicable organization. They sent my account to unclaimed property. They sent me a letter while I was on a two month vacation. Since I didn't respond, it was sent to unclaimed property. The explanation was that they followed the law. No phone call, no email, no ninety day, no sixty day. They just sent a thirty day notice and then disposed my account. I had this for 20 years. Their standards must be that they will only do the minimum that is required by law.

One of the better institutions for personal wealth management, the level of service and attention to detail is rare these days, but a standard at Morgan Stanley.

Absolute dog service. Called them more than 10times and every single time different agent picks up and verify you and read the "notes" which they have no clue what is going on and apologize for inconvenience, pretend to do something for you and NEVER does. They will promise to escalate, call you back, give you a confirmation until x time just to get you to hang up and NEVER ONCE followed through. Agents will even straight out lie to you saying that things are being processed and I just have to wait. Weeks later when I called back a different person said I needed to resubmit the document because of missing category. Absolutely disgusting service. I hate myself for trusting what they say they would do every time. Straightup disgusting and makes you lose faith in people overall.

Tried to do 2 extremely simple tasks that any client with an online stock plan account in the modern age should be able to do:
1. Easily recover access to their online account
2. Update their mailing address

Guess what? Can't do either with the way Morgan Stanley processes and systems are set up. Chat functionality is non-existent; you're expected to call a US landline which is so impractical for international customers...

Key takings and hopefully this should help other people:
* Expect to spend at least 1 hour on a phone call with up to 5-6 customer service rep changes in between
* Your proof of ID, when asked to upload one using their secure email service, has a validity period of 14 days. If you call them later than the 14 days, they won't process your request and will ask you to upload a copy of the same ID (again) and call them again for verification
* Even when you have access to your online account, you can't do an address change online, so you'll need to call them for getting that updated
* If your online account has been inactive for more than 90 days (i.e. you haven't logged in once during that time) it would be blocked and you'd need to call them to regain access. Their own customer service has advised to log in at least once a month, so set a reminder for that

Waited an hour on hold to speak to a customer service rep to help with a login in issue. The agent who finally joined mumbled and was barely coherent. When I responded to one of her questions, she just hung up. Absolutely shocking service.

No way to send a message directly to firm online. The chat feature is flawed. You must call to speak to a rep, and my experience has been very poor... I got put on hold , transferred and call was disconnected. I did not get called back. I closed my account and was charge a $75 fee... I don't recall ever agreeing to a closure fee. I filed a complaint with FINRA.

Seriously the poorest user experience I've been subjected to. No e-mail or chat communication, only by phone during US business hours. Incomplete information. Unclear digital forms, no data validation. Pure rubbish!

Only Stock Plan where there is not a digital way to contact them (email, chat, web, etc) the only way to reach them is by an international phone number. I would not recomend Morgan Stanley to anyone. Really bad experience.

Morgan Stanley E*TRADE's exorbitant reorganization fee of $1444 over four years. The frustrating aspect is the persistent imposition of a $38 Miscellaneous Transaction fee for seemingly routine actions like organization renaming or share splits. This unwarranted charge is haphazardly labeled as either a Miscellaneous Trade or a reorganization fee, adding confusion to an already fee-laden experience.

The platform's lack of a transparent filtering system exacerbates the problem, making it nearly impossible for users to keep track of these arbitrary fees. Users risk being blindsided by repeated charges, as the platform fails to provide any clarity on the frequency of these transactions. Only through meticulous scrutiny involving downloading and filtering transactions in Excel did it become apparent that users were shackled with a whopping $1444, amounting to $38 charged 38 times, within the four-year timeframe.

In stark contrast, alternative platforms like ALLY Bank offer a refuge from such fee exploitation, promising a more financially sensible and trader-friendly experience. The frustration stemming from Morgan Stanley E*TRADE's fee structure highlights the urgent need for a more transparent and user-friendly trading environment.

Been trying to get my Global Stock account unlocked for 4 days now. Called dozens of times every day and no one picks up the call. Even had a 2 hour call one day and still no one picks up. Wanted to complain but the number for complaints.......is exactly the same number that you originally get no response from. This is the worst possible service as I'm watching my share price go down and can't place a deal.

Morgan Stanley Dallas Preston Plaza office Nicholas group....The most CORUPT FRAUDULENT LIEING COMPANY/OFFICE of all time. MARIA NICHOLAS AND JIM NICHOLAS are what gives the investment world a MIGRAINE. Had thousands LOST BY FRAUD/NEGLIGENCE and CORUPTION by these PARASITES. 2017-2019. This group DESTROYED all my Capital and assets by doing NOTHING for my situation. I tried to come in and INTERCEDE and was basically threatened and told I could do nothing. I continued to inquire and my ASSETS AND ACCOUNTS WERE CLOSED. I then tried legal action but most attorneys told me they were scared of Morgan STEALS from me Stanley. MARIA AND JIM NICHOLAS SHOULD BE INVESTIGATED AND BANNED FROM ALL BROKER BUSINESS! This group should be investigated for securities fraud and compromising clients accounts by theft and fraud. The Branch managers Jon Harsch and Sunny k. Patel should be investigated for these accusations as well. The SEC DOES NOTHING DUE TO I FEEL BEING BRIBED BY MORGAN STANLEY AND ITS PARASITES. I hope all of you when deciding about your $$$ stay clear of this FRAUDULENT COMPANY and the NICHOLAS GROUP.

Trying to cash in my stocks I have from my previous employer - no one will answer the phone.
Absolutely unbelievable, I’ve waited for over 1 hour but no answer. Been trying for 3 days now - nothing.
I’ve also emailed - nothing
Tried 3 different numbers but ultimately all end up in the same queue.

Have a stock awared from a previous employer with them. Send confusing letters demanding immediate action with no way of contacting them other than an US call center which they don't answer. Seriously considering abandoning the stock.

They made the path to access my account arduous when I voiced concerns about discrepancies in my assets. The misstep was venturing into their private equity secondaries. For those verging on the decision to get on, consider a different path with “Assurity Secure” In just a few weeks, I’ve gathered a great fortune since joining them.

They are very slow in processing everything. I couldn't get one time password so I had to call them wait for 4 days to get it verified. It's the worst experience.

Morgan Stanley does not provide competent customer service. I tried to have a very small amount of money ($100) in a closed out custodial account returned to my 25-yr old son and they were not able to help. They said they had to speak to him directly. They would not issue a check in his name and send it to him. What a pathetic operation.

MS can go to hell.