Investor Alert: FINRA Customer Complaint Filed Against Philip Hoang
Investors should be aware that FINRA BrokerCheck records reflect a recent customer complaint filed against Philip Hoang alleging significant investment losses. Philip Hoang (also known as Philip Thien Hoang, Philip Hoang, Thien P. Hoang, Thien Philip Hoang; CRD #5134140) is a broker and financial adviser for MORGAN STANLEY in Menlo Park, CA.
According to FINRA disclosures, the October 2025 complaint claims Hoang recommended unsuitable investments, including speculative REIT products and the use of a Liquidity Access Line, between 2021 and 2025. The customer is seeking more than $1.7 million in damages, asserting that these recommendations were inappropriate based on their financial situation and risk tolerance.
Investors who worked with Philip Hoang during this period—particularly through Morgan Stanley—should carefully review their accounts, as unsuitable recommendations can create grounds for FINRA arbitration and potential recovery of losses.
If you believe you may have been affected by Philip Hoang’s recommendations or if you experienced unexpected losses in REITs, alternative investments, or leveraged credit lines, you may have legal rights. FINRA rules require brokers to recommend investments that are suitable and aligned with a customer’s objectives and financial profile. Affected investors should consider contacting an experienced securities law firm to evaluate potential claims.
Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.
Investor Alert: FINRA Customer Complaint Filed Against Philip T. Hoang
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 11/21/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.