Aegis Capital Financial Advisor, Harold Weber, Has Five Customer Complaints, Including One Pending Complaint

Harold Weber (CRD # 1047064) is a Financial Advisor at Aegis Capital In New York, NY.  Harold Weber has been in the securities industry since 1982 and previously worked at Wells Fargo Advisors and Morgan Stanley.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Harold Weber has five customer complaints disclosed on his CRD, alleging sales practice violations.  Among the customer complaints include the following:

• March 2019—”Claimant alleges that upon transferring his accounts from Morgan Stanley to Wells Fargo Advisors in 2013, FA continued to make unsuitable investment recommendations and that he continued to misrepresent material facts about specific investments.”  Damahges are unspecified. 
• April 2018—” Claimants alleged, inter alia, unsuitability with respect to investments – Jul 2011 to Nov 2012.”  The matter was settled for $40,000.
• June 2017—”Client claims misrepresentation and unsuitable investments in mutual fund securities. Evolved into an arbitration whereas the Representative is not named but is the subject. Arbitration: Claimant alleges unsuitable investments were recommended to him in 2012 through 2016.”  The matter was settled for $50,000.
• May 2016—”CLAIMANT ALLEGES FA OVER CONCENTRATED HIS RETIREMENT ACCOUNT THAT WAS OPENED IN 2013, IN VOLATILE AND SPECULATIVE PENNY STOCKS.”  The matter was settled for $15,000

For a copy of Harold Weber’s CRD, click https://brokercheck.finra.org/individual/summary/1047064#disclosuresSection.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.  

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.