Former First Standard Financial Co. Financial Advisor, James Bradley Schwartz, Has 8 Customer Complaints
The Wolper Law Firm is currently investigating claims against James Schwartz a/k/a Jim Schwartz, a former Financial Advisor at First Standard Financial Co., Joseph Gunnar & Co. and Aegis Capital in New York. James Schwartz a/k/a Jim Schwartz first entered the securities industry in 1998 and has worked for a multitude of brokerage firms.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), James Schwartz a/k/a Jim Schwartz has seven (7) customer complaints since his career in the financial services industry began. This is an exceedingly high number of customer complaints to be filed against a single Financial Advisor.
Of the seven complaints, two are pending:
- May 2018—Client alleges “negligence, unauthorized trading, churning, unsuitability, breach of contract, breach of fiduciary duty.” Alleged damages are $150,000 and the matter remains pending.
- February 2018—Client alleges “unauthorized trading and unsuitable investment recommendations.” Alleged damages are $1.694 million and the matter remains pending.
In addition, James Schwartz a/k/a Jim Schwartz has been the subject of several more customer complaints throughout his career in which the customer alleged unauthorized trading, misrepresentation and unsuitability, including the following:
- August 2017—Client alleges “unsuitable investment recommendations, unauthorized trading, negligence…federal securities law violations…” The matter was settled for $800,000.
- April 2017—Client alleges “unsuitable investment recommendations, unauthorized trading, excessive trading…” The matter was settled for $100,000.
- June 2016—Client alleges “unsuitable recommendations and mishandling of their accounts.” The matter was settled for $782,000.
https://brokercheck.finra.org/individual/summary/3043085#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.
If you or someone you know was a customer of James Schwartz a/k/a Jim Schwartz, and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers 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. His industry insight, experience and knowledge gives his clients a competitive advantage.
