Morgan Stanley settles confidentially with departing broker
Daniel Abel agrees not to solicit his former clients at the firm.
Morgan Stanley and former broker Daniel Abel, who left the firm in January, have entered into a confidential settlement agreement in which Mr. Abel agrees not to solicit former clients.
Mr. Abel, who is now affiliated with American Portfolios Financial Services, also agreed not to use any Morgan Stanley information he has in his possession.
In late April, Morgan Stanley, Mr. Abel and American Portfolios Financial Services filed a joint notice of stipulation of dismissal of American Portfolios. On April 30, a Finra arbitration panel granted the dismissal, which dismisses American Portfolios from the case brought by Morgan Stanley.
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