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Options for Clients of Former Raymond James Broker Daniel Pimental Who Suffered Investment Losses

Posted on Tuesday, August 11th, 2020 at 10:22 pm    

Erez Law is currently investigating former Raymond James broker Daniel Pimental (CRD# 2196343) regarding options losses. Pimental has been registered with Wells Fargo Advisors Financial Network, LLC in Hingham, Massachusetts since 2015. Previously, Pimental was registered with Raymond James Financial Services Advisors, Inc. in Hingham, Massachusetts from 2009 to 2015. 

Pimental has been the subject of three customer complaints between 2002 and 2020, according to his CRD report. The most recent customer complaint is regarding:

January 2020. “Between October 2015 and October 2019, when they were customers of Wells Fargo Financial Network, Claimants allege that their FA made unsuitable investments, engaged in unauthorized trading, and that the FA churned their accounts while he represented to them that he was managing their wealth in a conservative manner in accordance with their investment objectives.” The case is currently pending. The client is alleging $43 million in damages due to options losses and the complaint took place while Pimental was registered with Raymond James. 

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, Raymond James may be liable for investment or other losses suffered by Pimental’s 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.