How Investors Can Sue Former Raymond James Financial Services, Inc. Financial Advisor Ronald Rothchild
Posted on Friday, February 1st, 2019 at 11:19 am
Erez Law is interested in speaking with investors who may have suffered losses due to investments with former Raymond James Financial Services, Inc. financial advisor Ronald Rothchild (CRD# 4491932). Rothchild has been registered with National Securities Corporation in Melville, New York since August 2017. Rothchild was previously registered with Raymond James Financial Services, Inc. in Garden City, New York from 2011 to April 2016, when he was terminated regarding, “Attorney for clients [customers] allege that FA engaged in unauthorized trading exercising de facto control over the clients’ accounts, that the investments purchased were unsuitable and that FA made inappropriate assurances regarding the level of income the clients could expect to receive.”
Rothchild has been the subject of four customer complaints between 2016 and 2018, according to his CRD report:
July 2018. “Breach of contract, negligence, unsuitability,breach of fiduciary duty..” The customer is seeking $100,000 in damages and the case is currently pending. This case was regarding common and preferred stocks, mutual funds and closed end funds (CEFs).
March 2018. “Client alleges investments were misrepresented to her and were unsuitable based on her investment objectives. She further states that her investment objectives and risk tolerance were incorrectly stated on new account paperwork. 7/26/2011 – 4/11/2016.” The client was seeking $149,236.86 in damages and the case was settled for $75,000. This case was regarding mutual funds and common and preferred stocks.
December 2016. “Negligence, breach of fiduciary duty, breach of contract, material misrepresentations, omissions and failure to supervise.” The client was seeking $170,000 in damages and the case was settled for $48,000.
April 2016. “Attorney for clients alleges that FA Ronald Rothchild engaged in unauthorized trading exercising de facto control over the clients’ accounts, that the investments purchased were unsuitable and that Rothchild made inappropriate assurances regarding the level of income the clients could expect to receive.” The customer sought $100,000 in damages and the case was settled for $132,000.
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, Raymond James Financial Services, Inc. may be liable for investment or other losses suffered by Rothchild’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.