Stifel, Nicolaus & Company Broker, Lawrence Delhagan, Jr., Has Four Disclosed Customer Complaints, Alleging Sales Practice Misconduct
Lawrence R. Delhagan, Jr. (CRD # 2779312) is a Financial Advisor at Stifel, Nicolaus & Company in Center Valley, PA. Lawrence Delhagan has been in the securities industry since 1996 and previously worked at Ryan Beck & Co., Gruntal & Co. and WMA Securities, Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Lawrence Delhagan has had four customers file complaints alleging sales practice misconduct, including the following:
- September 2018 – “Claimants allege unsuitable investments, negligence, fraud, misrepresentations, breach of fiduciary duty, and violations of state and Federal securities laws.” The matter settled for $30,000.
- June 2018 – “Claimants allege unsuitable investments, churning, negligence, fraud, misrepresentation, breach of fiduciary duty, and violations of state and federal securities laws.” The matter settled for $270,000.
- December 2014 – “CLAIMANT ALLEGES UNSUITABILITY, BREACH OF THE IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING, AND BREACH OF FIDUCIARY DUTY.” The matter settled for $22,500.
For a copy of Lawrence Delhagan’s CRD, click https://brokercheck.finra.org/individual/summary/2779312#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 firstname.lastname@example.org.