Washington Redskins running back Adrian Peterson has taken Morgan Stanley Wealth Management to arbitration over a dispute with his Morgan Stanley adviser, according to published reports.
Mr. Peterson, 34, who is halfway through a two-year, $8 million contract with the Redskins and has earned an estimated $100 million during his 12-year NFL career, reportedly is arguing that he was mislead and misinformed about an investment opportunity sold to him by a Morgan Stanley broker.
No further details were available because the arbitration case has not yet been made public, and Mr. Peterson’s attorney declined to comment.
A Morgan Stanley representative responded to a request for comment on the arbitration case with the following comment: “We are defending against these claims, which we believe are without merit."
Salespeople at the firm often went beyond the matching algorithm to recommend network advisors on its Zoe Wealth platform, according to the regulator.
The Protect College Sports Act would cap school payments and codify NIL rights, with implications for advisors guiding young athletes.
"I know the number that I want to be able to retire on, and now I just want out," says Wilmington Trust's Marguerite Weese, describing a common refrain among business-owner clients.
Bessemer and Brown Brothers Harriman veteran Robert Ludricks III and private markets specialist Olof Akesson join the ultra-high-net-worth push on the East Coast.
765 investors were promised 260% annual returns on truck leases
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
