- February 3, 2019
- National Securities Corp.
The Wolper Law Firm is currently investigating claims against Ronald Rothchild, a Financial Advisor at National Securities Corp. in Mellville, NY. Ronald Rothchild has been in the securities industry since 2002 and previously worked for Raymond James.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 30, 2018, a customer filed a complaint against Thomas Olexa, alleging “BREACH OF CONTRACT, NEGLIGENCE, UNSUITABILITY, BREACH OF FIDUCIARY DUTY.” The alleged damages are $100,000 and the matter remains pending.
In addition to the 2018 customer complaint, Ronald Rothchild has had three other complaints filed against him during his career, including the following:
- Mach 2018—”Client alleges investments were misrepresented to her and were unsuitable based on her investment objectives. She further states that her investment objectives and risk tolerance were incorrectly stated on new account paperwork.” The matter was settled for $75,000.
- December 2016—”Negligence, Breach of Fiduciary Duty, Breach of Contract, Material Misrepresentations, omissions and Failure to Supervise.” The matter was settled for $48,000.
- April 2016—”Attorney for clients alleges that FA Ronald Rothchild engaged in unauthorized trading exercising de facto control over the clients’ accounts, that the investments purchased were unsuitable and that Rothchild made inappropriate assurances regarding the level of income the clients could expect to receive.” The matter was settled for $132,000.
For a copy of the Ronald Rothchild’s CRD, click https://brokercheck.finra.org/individual/summary/4491932#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 email@example.com.