Close Menu
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds

Subscribe to Updates

Get the latest markets and assets news and updates directly to your inbox.

Trending Now

Rubidium Could be Next Frontier for Critical Minerals Exploration, Investment

October 28, 2025

2025 Precious Metals Market Outlook

October 28, 2025

Following Controversial Tibet Project, Activists Denounce Cai Guo-Qiang Fireworks in Paris

October 28, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Asset ObserverThe Asset Observer
Newsletter
LIVE MARKET DATA
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds
The Asset ObserverThe Asset Observer
Home»Financial Planning
Financial Planning

Morgan Stanley sued for over $1M in disability benefits

News RoomBy News RoomDecember 3, 2024
Share
Facebook Twitter LinkedIn Pinterest Email

A former Morgan Stanley financial advisor is suing the firm over $1 million in disability payments she claims she’s owed after having to stop working because of health complaints.

Tara Lusche sued Morgan Stanley last week in federal court in Colorado over allegations that she has been illegally denied payments under the firm’s benefits plan for former financial advisors. Lusche, who lives in the Denver suburb of Centennial, Colorado, had to quit working in early 2022 after suffering from fibromyalgia and various health and mental troubles that “impacted her ability to perform her cognitively demanding job duties,” according to suit.

Fibromyalgia is a chronic condition associated with pain, fatigue, headaches and other symptoms. Lusche’s suit says Lusche acquired a doctor’s certification that her ailments had rendered her disabled and she wasn’t likely to improve with time.

She was able to obtain both short-term and long-term disability benefits through Morgan Stanley. But when she later inquired about benefits for former advisors — in early 2024 — her claim was denied.

Morgan Stanley’s “wrongful conduct and breach of contract has caused injuries and damages to the Plaintiff, including lost benefits, loss of use of benefits, stress, anxiety, emotional upset and the like,” according to the suit. “The stress and upset has worsened Plaintiff’s medical condition.”

READ MORE: Morgan Stanley wealth head bets on reinvestment over recruitingHow James Gorman transformed Morgan Stanley after the financial crisisJudge strikes Morgan Stanley another blow on deferred compMorgan Stanley seeks TRO against top producer who joined Raymond JamesEx-Morgan Stanley advisor accused of stealing retiring colleague’s clients

A Morgan Stanley spokesperson declined to comment. Lusche’s lawyer did not respond to requests for comment.

Lusche was at Morgan Stanley and its predecessor firm, Smith Barney, for just over 15 years, according to BrokerCheck. She started in the financial services industry in 1999 at Merrill Lynch, joined Capital Brokerage in 2005 before returning to Merrill and eventually moving on to Smith Barney in 2008. Morgan Stanley acquired roughly half of Smith Barney in 2009 and the whole ownership stake four years later.

Besides her claim for over $1 million in disability payments, Lusche is seeking interest and noneconomic damages. Her suit accuses Morgan Stanley of breach of contract and a wrongful denial of benefits.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Keep Reading

How advisors can avoid legal pitfalls of AI use

Commonwealth advisors head to Raymond James, Cetera

Merrill, LPL say advisor education is key to AI push

Most advisors see AI in investment decisions as a risk

How RIAs use LinkedIn and other social media

Multi-trip family travel insurance: Coverage for back-to-back trips

Weekend Reading For Financial Planners (October 11–12)

How Income and Employment Affect Your Gold Loan Eligibility

Know your niche: Advising business owners before they sell

Recent Posts
  • Rubidium Could be Next Frontier for Critical Minerals Exploration, Investment
  • 2025 Precious Metals Market Outlook
  • Following Controversial Tibet Project, Activists Denounce Cai Guo-Qiang Fireworks in Paris
  • 3 Best-performing Canadian Cleantech Stocks of 2025
  • Pepperdine Museum Director Resigns Amid Censorship Controversy

Subscribe to Newsletter

Get the latest markets and assets news and updates directly to your inbox.

Editors Picks

2025 Precious Metals Market Outlook

October 28, 2025

Following Controversial Tibet Project, Activists Denounce Cai Guo-Qiang Fireworks in Paris

October 28, 2025

3 Best-performing Canadian Cleantech Stocks of 2025

October 28, 2025

Pepperdine Museum Director Resigns Amid Censorship Controversy

October 28, 2025

How artist-designed shade structures are protecting vulnerable residents in US’s hottest city – The Art Newspaper

October 28, 2025
Facebook X (Twitter) Instagram
© 2025 The Asset Observer. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.