Former Alabama Wealth Manager Charged With Embezzling More Than $500K From Clients

Disclosure: State of Alabama-based writer. This article is a work from cited sources for informational purposes and is used with permission. No affiliate links are included.

For many Alabama residents, securing financial stability and building wealth is a crucial goal. Wealth management services offer personalized advice on investing, saving, and planning for the future. Whether planning for retirement, saving for your children's education, or managing an inheritance, finding the right wealth management firm can make all the difference in reaching your financial objectives. Wealth managers provide various services, including investment portfolio management, estate planning, and tax guidance, designed to help clients build and protect their wealth over the long term.

However, while most wealth managers operate with integrity, it is important to remain vigilant and carefully select a trusted professional.

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Unfortunately, instances of financial misconduct can occur, even in the wealth management sector and it's essential to regularly monitor your accounts, verify transactions, and ensure your manager is transparent about their practices.

Recent Legal Action Against an Alabama Wealth Manager

In a recent development, the U.S. Attorney's Office for the Northern District of Alabama filed charges against a former Tuscaloosa wealth manager, highlighting the importance of oversight in financial matters.

According to a press release dated September 26, 2024, Jason Brooks Head, a former Morgan Stanley wealth manager, has been charged with bank embezzlement after misappropriating over $500,000 from two client accounts. Head, who worked with the firm from July 2020 through November 2023, allegedly withdrew client funds for personal use without authorization.

He has agreed to plead guilty to the charges and a court date will be set for Head in the coming future.

Remember in Alabama, a defendant is presumed innocent unless and until proven guilty.

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