Did you lose money investing with former Stockcross Financial Services, Inc. financial advisor Herbert Voss, Jr. (CRD# 1014475)? Voss has been registered with Stockcross Financial Services, Inc. in Beverly Hills, California from 2009 to May 2018, when he was terminated after he was barred by FINRA.
In May 2018, Voss was banned by FINRA after he consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony concerning a customer complaint alleging that Voss had engaged in unauthorized trading in the customer’s account.
Voss has been the subject of eight customer complaints between 1998 and 2017, two of which were denied and two were closed without action, according to his CRD report:
- December 2017. “Poor Performance, Fiduciary Breach and Failure to Supervise.” The customer is seeking $550,000 in damages and the case is currently pending.
- February 2017. “Client POA holder made claim for securities selection and suitability.” The case was settled for $900,000.
- April 2010. “Time frame approx. 2006-2009. Claimant alleged breach of fiduciary duty, breach of contract, negligent misrepresentation, fraud, omissions, excessive commissions, unauthorized trading and unsuitable recommendations in connection with the investments in claimants UBS account.” The case was settled for $950,000.
- August 1999. “Customer alleges unauthorized and excessive trading and mutual fund switching. Customer also alleges that registered representative requested to share in the profits of a transaction. Damages not specified.” The case was settled for $64,000.
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, Stockcross Financial Services, Inc. may be liable for investment or other losses suffered by Voss’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.