Skip to main content

If Having An Affair With Her Married, Wheelchair-Bound, Now Dead Client And Executing 12,000 Unauthorized Trades On His Behalf Is Wrong, Morgan Stanley Broker (Allegedly!) Doesn't Wanna Be Right

So that's something.
  • Author:
  • Updated:

As you can maybe imagine, Ami Forte (AKA the broker) and Lynnda Speer (AKA the widow) are not exactly seeing eye to eye on this one.

A high-profile Morgan Stanley broker’s alleged 12-year affair with a co-founder of the Home Shopping Network is at the center of a $400 million legal dispute...The broker, Ami Forte, had a long affair with the married Roy Speer, who died in August 2012, according to Speer’s widow. Forte, along with at least one other member of her investment team, made 12,000 unauthorized trades and pocketed $40 million in fees during the last five years of Speer’s life, his widow claimed to an industry regulator. For much of the last five years of the affair, Speer used a wheelchair and was in a “significant diminished mental capacity,” the widow’s lawyers assert.

Luckily for Ami and anyone else who's perhaps found themselves in a similar position with a client...

The bank’s code of conduct does not explicitly state that romantic relations between its advisers and their clients run afoul of the bank’s rules, according to its 2015 policy on its website.

Sure, you may run into some issues with regards to that $40 million in (allegedly!) bogus fees, but you can have all the affairs you want.

‘Morgan Stanley adviser slept with my husband, milked account for fees’ [NYP]


Ex-Morgan Stanley Broker Really Did Just Steal Client Information

So, uh...can we consider this one water under the bridge?