Morgan Stanley is seeking to bar a 90-year-old financial adviser from its facilities after he was accused of shooting a co-worker at the company’s Oklahoma City offices last week.
Leonard Bernstein shot Chris Bayouth as many as five times in the torso, back, leg and foot on Thursday, according to the Oklahoma City Police Department. Bayouth was hospitalized for his injuries and Bernstein was apprehended later the day of the incident and charged with shooting with intent to kill, according to the police.
Bernstein has since been released on $50,000 bail. Attempts to reach Bernstein were unsuccessful, with two phone numbers associated with him disconnected. A county jail spokesman said no lawyer was listed for Bernstein.
Morgan Stanley, which fired Bernstein on Friday, sought a restraining order on Tuesday in Oklahoma County District Court, seeking to bar him from the firm’s offices and having any contact with former colleagues. The bank said that he “remains a grave threat to the health and safety of Morgan Stanley’s employees and customers,” according to a court filing.
“We are cooperating with the authorities and our thoughts are with our employee,” Morgan Stanley said in a statement.
Bernstein joined Morgan Stanley last year, according to the Financial Industry Regulatory Authority’s BrokerCheck. Bayouth joined the New York-based firm in 2009.
In an era of AI euphoria and market FOMO, getting back to basics with fixed income may be the most contrarian and most important move advisors can make.
Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.
Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.
Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch
The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
