There are options for clients of Equitable Advisors, LLC broker Edgar Kleydman (CRD# 2727571) who suffered investment losses. He has been registered with MML Investors Services, LLC in Brooklyn, New York, from 2019 to 2020, and AXA Advisors, LLC (nka Equitable Advisors, LLC) in Brooklyn, New York, from 2015 to 2019.
In October 2021, FINRA barred him after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA during its investigation into whether he engaged in private securities transactions without providing written notice to his member firm. The findings stated that the investigation originated from a firm customer’s complaint to FINRA.”
Edgar Kleydman Customer Complaints
He has been the subject of four customer complaints between 2017 and 2023, according to his CRD report:
September 2023. “Claimant alleges RR engaged in “selling away” by selling Claimant investments not sold by the brokerage firm, and then allegedly misrepresented the return on investment and made a guarantee associated with Claimant’s funds.” The customer sought $1,000,000 in damages, and the case was settled for $250,000. The complaint took place while he was registered with Equitable Advisors, LLC, and it was regarding promissory note losses.
July 2021. “Kleydman was named in a customer complaint that asserted the following causes of action: fraud; breach of fiduciary duty; unsuitability; breach of contract; negligence; and violations of industry rules.” The customer is seeking $35,650.64 in damages, and the case is currently pending. The complaint took place while he was registered with Equitable Advisors, LLC.
February 2021. “Claimant alleges RR engaged in “selling away” by selling Claimant investments not sold by the brokerage firm, and then allegedly misrepresented the return on investment and made a guarantee associated with Claimant’s funds.” The case was settled for $15,000. The complaint took place while he was registered with Equitable Advisors, LLC, and it was regarding brokerage account losses.
August 2017. “Client alleges suitability regarding equity listed investment. Activity dates 11/05/2014-11/13/2014.” The customer sought $5,000 in damages, and the case was settled for $55,000. The complaint took place while he was registered with J.P. Morgan Securities LLC, and it was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Equitable Advisors, LLC may be liable for investment or other losses suffered by Edgar Kleydman’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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