Do You Have A Claim Against Moran Asset Management?

Maddox Hargett & Caruso P.C. currently is investigating complaints by investors regarding The Moran Asset Management Group. Specifically, a number of retail investors have come forth with unsettling stories over the way in which representatives of Moran handled their investment portfolios. Some investors we’ve spoken with contend Moran abandoned its downside protection strategy in 2008 without telling clients. As result, some clients sustained significant financial losses in their portfolios. One investor says he suffered losses in the millions of dollars.

Headquartered in Naples, Florida, The Moran Asset Management Group is a fee-based wealth management firm associated with the Wells Fargo Advisors’ Private Investment Management program. The company was founded in March 1990 by Thomas M. Moran, a Managing Director - Investments, and Earl Sistrunk, CFA, Financial Consultant, with Wachovia Securities (now Wells Fargo Advisors).

According to Moran’s own Web site, the company utilizes more than 50 variables from 200 different research firms to arrive at the recommendations it makes for investors. It also employs some 15 different investment models. In several articles appearing in the financial press, Moran has often trumpeted its downside strategy as one of the central keys to its success. In the simplest terms, that strategy supposedly works as follows: If a stock is placed into an investor’s portfolio and falls in value by, say, 20%, it is sold. If a stock hits a 52 week high after being added to a portfolio and then goes down 20% from the 52 week high, it is sold.

According to some investors, however, Moran apparently decided to discard this particular strategy last year without disclosing the change in investment tactics to clients. In doing so, investors say they were unknowingly opening themselves up to added risks and the potential for huge financial losses.

Tell us about your relationship with Moran Asset Management Group. Please fill out the Contact Us form, or leave a comment below. We want to hear your story and consult with you about your options.