Morgan Stanley has terminated a father-and-son advisory team that managed more than $600 million in assets, according to FINRA BrokerCheck records. The firm fired both advisors on June 25 following allegations regarding improper payments made to a family member.
E. Bradford Hudgens, an advisor with a 30-year tenure at Morgan Stanley, is accused of utilizing the firm's Alternative Flexible Grid expense program to disburse funds to a family member in a manner that did not align with that individual's stated job role. Additionally, the bank alleges that he altered a client's trust to ensure he would remain the advisor, though a doctor subsequently determined that the client lacked capacity.
The father's son, John Bradford Hudgens, was terminated on the same day. According to the firm, the son was aware of the payments made to the family member and raised concerns regarding his candor during the internal review. The bank noted that the son's case did not involve issues related to sales practices or trading.
Based in Hot Springs, Arkansas, the advisory team managed $631 million. E. Bradford Hudgens had previously appeared on Forbes state advisor lists starting in 2018 and had worked for Morgan Stanley in New York, Minneapolis, Dallas, and St. Louis.
Following their departures, both men are now registered exclusively as investment advisors with Concurrent Investment Advisors and no longer hold FINRA-licensed broker status.
