Morgan Stanley's firing of a financial advisor accused of stalking his ex-girlfriend stands out in an industry that many say is still struggling to provide a safe and healthy workplace for women.
The wirehouse terminated Gary T. Guglielmo, 49, four days after his arrest earlier this month in Florida's Palm Beach County, where he is accused of violating a restraining order taken out against him by his ex-girlfriend of three years. Guglielmo is accused of threatening to "bankrupt, ruin and humiliate her in court until she was left on one leg," according to a criminal affidavit.
However, the incident came nearly two weeks after her protection order, almost three years after Guglielmo was arrested on suspicion of battery charges in a one-sided drunken fight and more than five years after his ex-wife accused him of domestic violence.
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Advisors and wealth management firms frequently overlook the problem, according to Sheryl Hickerson, founder of the 4-year-old networking organization Females and Finance. She related the story of a recent outing where fellow industry professionals who are men found it surprising that she opened the door to the backseat of her car first to ensure no one was there.
"A great deal of men are still shocked, even in 2022, that women are harassed, much less stalked, at their job or at an event," Hickerson said in an email. "The men were a little stunned because they had never once thought about this while women have to think about this every day in every situation."
In his first court appearance in the latest case, Guglielmo entered a plea of not guilty to the two felonies and a misdemeanor pending against him, court records show. An attorney representing him pointed out that Guglielmo isn't scheduled to be formally charged until next month and said it would be premature to discuss his ex-girlfriend's allegations.
"The only thing I can tell you right now is that our client completely maintains his innocence," said Steven Bell of the Meltzer & Bell law firm.
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"Morgan Stanley promptly terminated his employment following a review of these serious allegations," spokeswoman Susan Siering said in an email.
The public outcry stemming from the #MeToo movement
At a minimum, firms must have documented policies for how they respond when an employee faces charges for a domestic violence-related offense, according to Christina Jones, the chief executive of external relations at nonprofit research center Battered Women's
"Financial pressures are a significant contributor to domestic violence," Jones said in an email statement, noting that many survivors have told the organization that companies should keep that need for financial security and support in mind. "Immediately terminating an employee who was found to be a perpetrator of domestic violence outside the workplace could potentially put that survivor in further jeopardy as the likelihood that the perpetrator will blame the survivor and become angrier is very high, which increases the likelihood of danger for the survivor."
Smaller steps can also make a big difference to the women navigating life in a male-dominated profession, according to Females and Finance's Hickerson, who brought up conferences where many
"Another thing for events would be to include asking if anyone would like to be assigned a 'buddy' (or offer to be a buddy) so those who opt in to the safety program could come and go to events with someone so they weren't alone," she said. "There are a myriad of prevention measures we could include so everyone, not just men, in our profession feels safe."
Financial advisor Nina O'Neal launched
"Typically the offenders are in a position of higher power, production, or position, and therefore the women see little to no action taken on the offender," she said. "Nobody wants to feel unsafe or threatened, and when that happens once or even repeatedly (as with many women), it makes doing your job even more difficult and success hard to attain. Most women give up, which is why we see the lack of retention."
Guglielmo has spent 25 years in the industry, with a team operating out of Morgan Stanley's Boca Raton branch under his leadership. Morgan Stanley had employed him for the last 13 years, including after it paid $600,000 in 2014 to settle with a client who alleged that Guglielmo traded in the customer's account without authorization,
Judges and prosecutors tossed the prior criminal cases against him. In March 2017, a Palm Beach County judge ruled there were "insufficient allegations of domestic violence" after Guglielmo's ex-wife requested an order of protection during their divorce proceedings, court records show. Four years later, prosecutors declined to pursue a case charging Guglielmo with misdemeanor battery for starting a drunken fight with another man and punching him in the face in November 2019, according to records. In doing so, they cited the fact that restitution and the cost of the investigation had been paid.
Court records relating to why Guglielmo's ex-girlfriend asked for the restraining order are sealed, and the sheriff's deputy responding to her Aug. 3 call didn't include any details in the arrest affidavit other than stating that it had been issued on July 22 and served four days later.
Despite the prohibition on contacting her, Guglielmo had sent her a dozen photos of them together, texted her nine messages and called her more than 20 times from his own number and hidden ones the night before, according to investigators. She told the deputy that she recognized his voice when she picked up one of the calls from a "no caller ID" number. Besides threatening her finances, he asked if he could pay her to drop the case and claimed to have "eyes on her everywhere," according to the affidavit.
Deputies arrested him the following day on suspicion of aggravated stalking, witness tampering and violation of injunction. Authorities released Guglielmo on a bond of $15,000. The state's attorney will formally file the charges on Sept. 15, according to court records.
