A 90-year-old Morgan Stanley broker has been accused of shooting a colleague multiple times in an Oklahoma City branch office, according to local news reports.
Police say Leonard Bernstein walked into the office last Thursday and shot Chris Bayouth, 61, several times before driving away. Bernstein was later arrested in a traffic stop and charged with shooting with intent to kill, police records show.
Witnesses told investigators that Bernstein and Bayouth had worked together for nine months and that the elderly man was handing his accounts to the younger business partner, a local news channel reported. It’s unclear what went wrong, police said.
Bayouth was rushed to a local hospital and is expected to survive.
Bernstein joined Morgan Stanley in 2021 after nine years with Wells Fargo Clearing Services, BrokerCheck records show. He first registered as a broker in 1994 with Morgan Stanley before moving to Citigroup Global markets in 2004. He returned to Morgan Stanley in 2007 and was part of a $1.1 billion team that moved to Wells Fargo in 2012.
Bernstein’s BrokerCheck record shows no disciplinary actions, discharges or investor complains in his 28-year career.
He was terminated by Morgan Stanley on Friday, a spokesperson for the firm said.
“We are cooperating with the authorities and our thoughts are with our employee,” the spokesperson said.
Bayouth has been registered with the Oklahoma City branch office since 2009, and has been with Morgan Stanley since 1997. Before that, he spent two years with Capital West Securities and six years with Stifel.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
