Morgan Stanley Philadelphia Boss Rick Frick Is Out
Richard “Rick” Frick, the complex manager for Morgan Stanley’s Philadelphia-area branches, left the firm unexpectedly on Wednesday, according to several sources familiar with the move.
Frick has been with Morgan Stanley since August 2011, according to his BrokerCheck history, and earlier in his career worked at Prudential Securities and its Wells Fargo Advisors successor, where he was New York City market manager.
A Morgan Stanley spokeswoman confirmed the manager’s departure but declined to comment further. Frick could not be reached.
In February a former regional development officer at Morgan Stanley, John Lockette, brought a racial discrimination sued against the firm that included a charge that Frick was one of two complex managers who “refused to work” with him. The case is pending, and it is unclear whether Frick’s departure is connected to the lawsuit. The firm previously denied the allegations.
Frick began his brokerage career in 1995 at Salomon Smith Barney, moved to Prudential Securities in 1999 and spent six years with Wells Fargo Advisors, according to BrokerCheck. He was not registered for two years before joining Morgan Stanley, according to the database. There are no disclosures of regulatory, customer or other complaints on his public record.
Frick’s Philadelphia complex appears to include ten branches, including two in Philadelphia as well as outposts in Berwyn, Bryn Mawr, Jenkintown, Yardley, West Conshohocken, Doylestown, Blue Ball, and Newtown, according to a Morgan Stanley website.
Frick’s departure was earlier reported by “On Wall Street.”