A National Securities Arbitration & Investment Fraud Law Firm
FINRA requested comments on its proposed rule to limit registered representatives from being “named as a customer’s beneficiary or holding a position of trust for or on behalf of a customer.” Silver Law Group, a nationally-recognized investor rights law firm, has submitted a comment letter to FINRA that states our…
Robert Montes (Robert Frederico Montes) (CRD#: 835488), a barred broker formerly with Morgan Stanley (CRD#: 149777) in Palm Harbor, Florida, is the subject of 4 disclosures on his BrokerCheck report. Montes has been in the industry since 1977. Before joining Morgan Stanley, he worked for Wells Fargo Advisors (CRD#: 19616),…
The Securities and Exchange Commission (SEC) announced that it has taken emergency action to stop an alleged $6 million Ponzi scheme that took money from at least 55 people, many of whom are seniors. The SEC obtained a temporary asset freeze and restraining order against Neil Burkholz of Boca Raton,…
We’ve all heard at least one story about an investor who put money into something that was supposed to be the “next best thing,” maybe even with a “guaranteed return.” Unfortunately, that “next big thing” turned out to be fraudulent. As we at Silver Law Group have reported on our…
For years, financial advisers have walked a fine line when receiving financial inheritances from their clients. Unfortunately, the line between an adviser’s professional obligations and their personal interests is very easily blurred—a reality that leads to complicated fraud and ethics violations. In this blog post, we’ll look into the legal…
Has a broker or financial advisor asked to be a beneficiary in your will? Financial advisors should not be participating in a client’s estate. Senators Catherine Cortez Masto, (D-Nev.), Mike Rounds, (R.-S.D.), Tina Smith, (D-Minn.) and Chris Van Hollen, (D-Md.) recently sent a formal letter to FINRA requesting that the…
Silver Law Group is investigating Boca Raton, Florida-based Newbridge Securities Corporation broker David Fagenson (CRD# 1652012) after FINRA suspended him for eight (8) months for alleged misconduct in elder customer brokerage accounts. According to Fagenson’s FINRA BrokerCheck report, FINRA suspended the Florida-based broker in November 2018. FINRA suspended Fagenson after…
When you’re considering working with a financial professional, how do you pick the right person? Do you choose someone with an impressive-sounding title/designation that makes it seem like they have expertise helping people just like you, such as “senior specialist” if you’re a senior citizen? While a designation like that…
Robert Lee Basile (CRD#: 2392772, aka “Bob Basile”) is a former registered broker and investment advisor who was last employed with PARK AVENUE SECURITIES LLC (CRD#:46173) of Corona, CA. His previous employers include Waddell & Reed (CRD#:866) of Riverside, CA, National Planning Corporation (CRD#:29604) of Chino, CA, and Edward Jones…
Chris Raymond Kubiak (CRD#: 1527367) is a previously registered broker whose last employer was Calton & Associates, Inc. (CRD#:20999) of Brookfield, WI. His previous employers include American Global Wealth Management, Inc. (CRD#:7388) of McDonough, GA, Freedom Investors Corp. (CRD#:23714) of Brookfield, and Dreher & Associates, Inc. (CRD#:8665) of Oakbrook Terrace,…