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Financial Advisor Mark Gelbman Was Terminated By Principal Securities

Mark Gelbman (CRD#: 4533497) is a dually registered Broker and Investment Advisor at Kestra Investment Services, LLC in Clive, IA.

Broker’s Background

He entered the securities industry in 2002 and previously worked for Principal Securities, Inc.; LPL Financial, LLC; Northwestern Mutual Investment Services, LLC; VSR Advisory Services; VSR Financial Services, Inc.; Ameriprise Financial Services, Inc.; and IDS Life Insurance Company.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in January 2022, a customer dispute against Mark Gelbman was settled. The allegation states, “The client alleges that the representative misrepresented the variable annuity.” The customer dispute was settled for $17,156.71.

In addition, Mark Gelbman has been the subject of two additional disclosures, including the following:

  • March 2021 — “Mark Gelbman was terminated for failure to adhere to the firm’s policies and procedures regarding discretionary trading.” Mark Gelbman was discharged by Principal Securities, Inc.
  • December 2020 — “The client alleged that the variable annuity’s costs and fees were not properly disclosed to him, and he alleged the product was not suitable.” The customer dispute was settled for $6,300.

For a copy of Mark Gelbman’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

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.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]