Corps Capital Advisors Review 2023: 0/5 Stars
At Corps Capital Advisors, Constantinos Maniatis serves as a financial advisor. His previous employer was Morgan Stanley. The Financial Industry Regulatory Authority (FINRA) did, however, impose a 30-day penalty on him.
The industry watchdog said that from May 2018 to February 2019, Constantinos used discretionary trading in 7 customer accounts without receiving prior written consent.
FINRA also imposed a $5,000 fine on Constantinos Maniatis.
The alleged infractions were committed by Constantinos Maniatis while he was employed with Morgan Stanley in Dallas, Texas.
Constantinos Maniatis is a financial advisor who currently works with Corps Capital Advisors, providing his expertise to clients seeking financial advice. He previously worked at Morgan Stanley, a global financial services firm. However, he faced a 30-day penalty imposed by the Financial Industry Regulatory Authority (FINRA) for using discretionary trading in seven customer accounts between May 2018 and February 2019 without receiving prior written consent. FINRA also fined him $5,000 for this violation. These alleged infractions occurred during his employment with Morgan Stanley in Dallas, Texas. Despite these penalties, Constantinos Maniatis continues to offer his services as a financial advisor to clients.
In May 2019, Morgan Stanley fired him for the “alleged” misbehaviour including the misappropriation of funds from his “assigned rep code” and a non-discretionary account.
Constantinos Maniatis has been associated with Corps Capital Partners since.
It’s important to note that trustworthy financial counsellors are not subject to such accusations, especially from FINRA. Because of this, you should always research an FA’s professional background before cooperating with them on a project.
More information about Corps Capital Advisors:
In April 2021, Constantinos Maniatis Maniatis signed a letter of acceptance, waiver, and consent. The number for the letter is 2019062788601. Constantinos Maniatis was accused by FINRA of using his discretion in 7 customer accounts between May 2018 and February 2019 despite the fact that his employer, Morgan Stanley, forbade such discretionary trading.
Furthermore, he used municipal securities in a lot of his discretionary purchases.
Further, FINRA said that during the course of that time period, Maniatis made decisions in 7 accounts on 105 different times.
Furthermore, municipal securities were used in 13 of those transactions.
Although Morgan Stanley and its clients had previously approved the use of discretion in certain accounts, Morgan Stanley did not allow the same user during the time when Constantinos Maniatis used his discretion.
Additionally, throughout that time, Morgan Stanley did not accept those accounts as discretionary accounts.
As a result, Constantinos Maniatis broke the FINRA Rule 2010 and MSRB Rule G-17 as well as NASD Rule 2510(b).
This was an instance of illegal dealing. It typically happens when a client exercises discretion. Brokers that operate with non-discretionary accounts are obligated to ask their clients for approval before making any trades.
Unauthorized trade is also wrong and prohibited. The clients suffer severe losses as a result of it breaking securities laws and regulations.
FINRA Disclosures Against Corps Capital Advisors Executives:
For almost 20 years, Constantinos Maniatis has worked in the finance sector. He has worked at Merrill Lynch and Citigroup Global Markets in addition to Corps Capital Partners and Morgan Stanley.
Furthermore, Maniatis wasn’t only involved in a conflict during the suspension we mentioned above.
Customer Dispute Corps-Capital-Advisors-ReviewDownload (2014)
A client of Constantinos Maniatis sent Morgan Stanely a letter of complaint in 2014. The customer claimed in their lawsuit that Maniatis misrepresented an investing plan involving energy stocks.
The client chose to complain to the brokerage firm instead of filing a securities arbitration complaint.
As a result, the brokerage company rejected the customer’s complaint and made no apology.
Notably, Maniatis is not the only FA to have experienced such conflicts. Another financial advisor who has been involved in conflicts resulting in damages of over $500,000 is Greg Baker Merrill Lynch. Always be on the lookout for such advisors.
Corps Capital Advisors Review 2023 Verdict: Not Recommended
Despite having extensive industry knowledge, Constantinos Maniatis’ history of alleged unlawful trading and falsification raises questions about his reliability.
Unauthorized trade and misrepresentation are serious problems because they are both wrong and against the law.
It would be advisable for you to locate an alternative FA due to these factors.
Cant rely on such frauds…FINRA can be a saviour if it increases its sample space
Why do the big companies dont pay proper head to these scams…i really feel companies are fully involved in it and they assist these frauds!
I invested around the start of 2019 in Morgan Stanely and this guy was recruited as my FA and though i wasnt scammed by him but i could had been his victim
IMO there licenses should be banned totally or atleast for an year or so…what is this 30 day-ed rule??
Frauds like him keep on doing their foul work under the nose of company…and even after getting caught, they are released with bare minimum penalty and again they are ready to scam others
n almost every country these kinds of cases are prevalent and no one does anything about it… at least people need to be aware of frauds like him…good job!
I’m a finance savvy and all the tips mentioned here are my go tos…it is indeed hard to be away from being scammed but proper knowledge and experience can surely take you to heights…
Its tough to trust such companies when cases like these come up…firm laws are required to make the finance sector a safe place
On almost every step, theres a chance of you to lose ur money to scammers…being aware in todays world is a must
There are so many scams going on every where in the finance field…i always look up in FINRA for the credentials of the FA and advice it to all
A real need for companies is to first keep a check on their employees!
As it is addressed in the article too, filing a securities arbitration complaint should be the first thing…else te company too dodges the complaints of the customers
Whom to trust when broker himself is full of greed and a conn
Amazed to see, why a company like Morgan Stanley did not take quick and firm actions against him
FINRA is a really good place to verify and stay away from such frauds
Going through a FA’s background would surely help in stopping such scams
I feel more firm actions should be taken against such fraudsters…if not then theyll come back and scam more n more people to fulfill their unending greed
…would be much more easier if all these investment banking firms will be totally transparent and honest with their customers
In case of any field, be it finance or crypto investment…always go through the history and professional background of advisors and company heads
Don’t trust financial brokers blindly. They are only useful to a certain extent. I have read about so many fraudulent financial advisors here that I don’t think I would be able to trust any one of them easily.
I’ve met this Greg Baker guy…he’s so polite by nature and look you can never know what people actually do
Their staff is extremely disrespectful. I have dealt with Corps Capital Advisors in the past and it was a horrendous experience to say the least.
It was a huge waste of time to go there.
I had a little idea of their service but didn’t expect them to be this disappointing. Honestly, it’s quite alarming.
FINRA should not let criminals like Maniatis operate in the industry like this.
The fact that they only fined him 5000 USD shows they are not very serious about theft and fraud.
You expect a regulatory body like FINRA to do some actual damage. 5k is too small a fine for rich advisors like him.
This is why it’s vital to do background checks on your FAs. Don’t trust any random joe with your money. Always know who you are dealing with.
It’s laughable how the article tries to justify his actions by saying he ‘exercised his discretion’ with 7 customer accounts when in reality, he was simply stealing from his clients. ‘Exercising discretion’ is such a whitewashing term to confuse consumers.
Trusting financial advisors is becoming increasingly difficult these days because of the way they conduct business. Very few honest men are left in that industry. At least Morgan Stanley had the decency to fire this man.
Financial advisory firms need to be extremely careful when choosing their representative. I think the people at Corps Capital Advisors should do away with Constantinos Maniatis seeing his crooked past and everything.
It is of no use. Sometimes it is better to let things be. You cannot expect crooks to fix their ways just like you can’t expect a thief to stop stealing. The only remedy for this solution is stricter punishment and more awareness on the subject. Those who do business with this financial advisory firm need to be made aware of his past. That is the only way to have some actual impact on the situation.