- July 16, 2018
- Breach of Fiduciary Duty
- Broker Discipline
- Excessive Trading/Churning
- Failure to Supervise
- Stifel Nicolaus & Company
The Wolper Law Firm is currently investigating claims against Mitchell Yanow, a former Financial Advisor at Stifel Nicolaus & Co. in Boca Raton, FL. Mitchell Yanow first entered the securities industry in the 1990s and previously worked for Oppenheimer & Co. and Wachovia Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 11, 2018, FINRA sanctioned Mitchell Yanow for allegedly “writing checks drawn on the customer’s brokerage account at Yanow’s member firm without the customer’s knowledge.”
This alleged misconduct and theft led to his termination by Stifel Nicolaus in May 2018. Mitchell Yanow’s misconduct caught national headlines, including in the Investment News publication:
In addition, Mitchell Yanow was previously the subject of a customer complaint in 2015 where the customer alleged “her FA charged her excessive commission and margin interest.” The matter was settled for $144,000.
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 Mitchell Yanow and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org 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. Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.