fbpx

Former Newbridge Securities Broker Marshall Isaacson Has Six Customer Complaints And A Regulatory Sanction

Marshall Isaccson (CRD#: 1140370) is a formerly registered Broker.

Broker’s Background

He entered the securities industry in 1983 and previously worked for Newbridge Securities Corporation; Ladenburg Thalmann & Co., Inc.; Oppenheimer & Co.; Ryan Beck & Co.; Gruntal & Co., LLC; Janney Montgomery Scott, LLC; Prudential Securities Inc.; Smith Barney, Inc.; Lehman Brothers, Inc.; Painewebber Inc.; and J.B. Hanauer & Co.

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 2021, a customer dispute was filed against Marshall Isaacson, alleging “breach of fiduciary duty, breach of contract and negligence.” The customer dispute is pending.

In addition, Marshall Isaacson has been the subject of five additional customer complaints, including the following:

  • January 2020 — “SUITABILITY & MISREPRESENTATION.” The customer dispute was settled for $140,000.
  • April 2019 — “SUITABILITY, AND BREACH OF FIDUCIARY DUTY.” The customer dispute was settled for $15,000.
  • April 2019 — “CLAIMANT ALLEGES NEGLIGENCE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, AND MISREPRESENTATION IN CONNECTION WITH 1031 EXCHANGE.” The customer dispute was settled for $14,999.
  • September 2016 — “SUITABILITY.” The customer dispute was settled for $92,000.
  • March 2016 — “UNAUTHORIZED TRADING,AND SUITABILITY.” The customer dispute was settled for $215,000.

In July 2020, FINRA barred Marshall Isaacson was barred by FINRA for failing to respond to an investigation relating to the sale of unsuitable securities. The FINRA sanction states:

“Without admitting or denying the findings, Isaacson consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with its investigation into whether he made unsuitable investment recommendations.”

FINRA sanctioned Marshall Isaacson with a permanent bar, indefinitely, from all capacities beginning July 20,2020. For a copy of the FINRA sanction, click here.

For a copy of Marshall Isaacson’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.

Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.

Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation.

Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.

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]