Larry Hagman’s ex-MSSB broker jumps to Wedbush amidst dispute

Lisa Detanna, a former broker at Morgan Stanley Smith Barney LLC who became embroiled in an arbitration claim filed by actor Larry Hagman, has moved to Wedbush Securities Inc. in Los Angeles.

Lisa Detanna, a former broker at Morgan Stanley Smith Barney LLC who became embroiled in an arbitration claim filed by actor Larry Hagman, has moved to Wedbush Securities Inc. in Los Angeles.
Ms. Detanna joined Wedbush on Tuesday, according to Financial Industry Regulatory Authority Inc. registration records.
In October, Mr. Hagman won an $11.5 million award against MSSB for claims of wrongdoing in the purchase of unspecified securities and a life insurance policy. The award included $10 million in punitive damages. A California judge, however, overturned the ruling earlier this month.
Ms. Detanna, who was Mr. Hagman’s broker at MSSB, was not named in the case.
Separately, in August, a client of Ms. Detanna’s filed an arbitration claim asking for $2.5 million in damages as a result of alleged unsuitable investments and failure to protect from losses, according to registration records. That case is pending.
Ms. Detanna’s regulatory history also shows two customer settlements from 2001 and 2003. She did not contribute to those settlements.
In addition, she was the subject of four customer complaints from 2002 to 2009 that were either denied by the firms involved or withdrawn.
Ms. Detanna, through a spokeswoman, declined comment.
“Considering the huge number of clients [Ms. Detanna] services, her regulatory record is pretty good,” said Edward Wedbush, chief executive at privately owned Wedbush.
“I’ve met about 30 of her clients — they love her,” he said.
This month, a California state court vacated Mr. Hagman’s award, saying one of the three arbitrators did not make adequate disclosures.
Mr. Hagman’s attorney, Philip Aidikoff, a partner at Aidikoff Uhl & Bakhtiari, said he is working on an appeal.
Under reporting rules, the Hagman case is reportable on Ms. Detanna’s disciplinary record, even though she was not named in the case.
Morgan Stanley Smith Barney asked the arbitration panel to expunge the case from her record, but that request was denied.