Morgan Stanley Wealth Management has been hit with a suit

Morgan Stanley Wealth Management has been hit with a suit from an African-American financial adviser who accuses the company of racial discrimination, including making changes last month to its internal arbitration policy to prohibit employees from publicly challenging unfair practices.

The adviser, Kathy Frazier, currently works with UBS Wealth Management and claims to have been forced out of Morgan Stanley in 2013 on account of her race, according to the complaint, which was filed in federal court in the Northern District of California and seeks class action certification. Ms. Frazier wants her old job back.

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