Morgan Stanley Assassinates Fiduciary Duty

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Chris Markowski calls out Wall Street’s hypocrisy as Morgan Stanley opens crypto trading to all clients — abandoning even the pretense of protecting investors. He breaks down how big firms like Morgan Stanley pay lip service to “fiduciary duty” while serving their true master: shareholders. From inflated spreads to reckless risk-taking, Chris exposes how the system is designed to profit off clients, not protect them — and reminds listeners that the smart play isn’t trusting these firms with your money, it’s owning their stock instead.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Morgan Stanley assassinates fiduciary duty. Yeah, the concept that they,
in my opinion, pay lip service to. And this is
all the big firms. They pay lip service to fiduciary duty,
putting your client's interests above your own.

Speaker 1 (00:35):
Yeah.

Speaker 2 (00:35):
They may talk a big game, they may mention it
in their ridiculous mission statements, mottos, whatever it may be. Yeah, nonsense.
First and foremost, their publicly traded entities. The CEO, the
CEO of a publicly traded company as a fiduciary duty

(00:55):
to the shareholders first and foremost. Okay, can't serve too
many masters, just can't do it. Interesting because I saw this,
Morgan Stanley is now going to allow crypto trading for
all clients, all clients. They had put a limit to

(01:18):
clients with at least one point five million in their
accounts and an aggressive risk tolerance. But we're going to
take those requirements and we are going to flush them
down the toilet, party on Wayne, party on Garth, everybody
jump in the crypto pool the party again, is this

(01:40):
in the best interests of their clients or is this
in the best interests of the shareholders of Morgan? Stand yeah,
shareholder would be great. You're gonna have more trading opportunity
to put some more money in their Pocketscan you can
see the spreads in these things. It's too much money

(02:01):
for them to ignore. Again. I mentioned this back in
the late nineteen nineties, just before I had a radio show. Okay,
how does radio show ride? At radio show that's turned
into a podcast, but still a radio show twenty five
years prior to it. Prior to it, I said, you know,
I said, you know, the smart move is to own

(02:23):
the stocks and these big investment firms, not have an
account with them, not let them manage your money, but
own their stocks because they most certainly know how to
make money. And how do they make money? Oh yeah,
on the backs of you watchdog on Wall Street dot com.