Despite Rule Change, FINRA’s BrokerCheck Tags No ‘Restricted’ Firms?
Nine months after FINRA began ...
20 June, 2024 No comment
Shimshon Plotkin is a Chevy Chase, Maryland broker. Plotkin is currently registered with Independent Financial Group (IFG) and was previously registered with Pacific West Securities, Cambridge Investment Research, Royal Alliance Associates, and Sun Investment Services Company. Plotkin currently has 7 FINRA Brokercheck Disclosures, including Awards, Judgements, and Settlements for selling unsuitable variable annuities, unsuitable mutual funds, and REITs.
Peiffer Wolf Carr Kane & Conway is currently investigating claims against Shimshon Plotkin, a registered broker at Independent Financial Group and Plotkin Financial Advisors in Chevy Chase, MD.
According to FINRA’s BrokerCheck website for Public Disclosures, Shimshon Plotkin has been the subject of 7 disclosures. Some of the more notable disclosures are as follows:
2016: Customer Dispute – Settled for $250,000: “STATEMENT OF CLAIM ALLEGED NEGLIGENCE; MISREPRESENTATIONS; BREACH OF CONTRACT; BREACH OF FIDUCIARY DUTY; UNSUITABLE INVESTMENTS IN CONNECTION WITH REITS AND DIRECT PARTICIPATION PROGRAMS PURCHASED THROUGH 2 BROKER-DEALERS FROM APPROXIMATELY 2007-2014.”
2005: Customer Dispute – Settled for $70,000: STATEMENT OF CLAIM ALLEGED “UNSUITABLE MUTUAL FUND PORTFOLIO FROM 2000 TO JULY 2002.”
2002: Customer Dispute – Award/Judgment for $25,000: STATEMENT OF CLAIM ALLEGED “UNSUITABLE INVESTMENTS AND BREACH OF FIDUCIARY DUTY.”
2002: Customer Dispute – Award/Judgment for $55,391.8: STATEMENT OF CLAIM ALLEGED “MISREPRESENTATION, NEGLIGENCE, UNSUITABILITY FOR PURCHASE OF VARIABLE ANNUITY IN 1995 AND IRA ROLLOVER IN 2000.”
To review Shimshon Plotkin’s Brokercheck report, click here: https://brokercheck.finra.org/individual/summary/2431863
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Shimshon Plotkin has worked at multiple firms over the years, including Independent Financial Group, Pacific West Securities Group, Cambridge Investment Research, Royal Alliance Associates, and Sun Investment Services Compnay. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.
Shimshon Plotkin Broker | Shimshon Plotkin Lawsuit
Based on our experience, we believe that there are more investors who have been the victim of Plotkin’s alleged broker misconduct and investment fraud. If you’ve worked with or invested with Shimshon Plotkin, you should contact Peiffer Wolf Carr Kane & Conway immediately for a FREE Consultation.
Peiffer Wolf Carr Kane & Conway is currently investigating Shimshon Plotkin’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
Get a FREE case Evaluation.
"*" indicates required fields
Bad Brokers in the news
-
-
A Burt Marshall victim tries a new strategy to recover his money. Will others join him?
Burt Marshall borrowed million...
23 May, 2024 No comment
Brokercheck®️ report
Information about this broker was obtained from FINRA’s BrokerCheck on May 7, 2019. You should always review the broker’s BrokerCheck report for updated information. If you believe some of the content on this page does not reflect the report, contact us.
FREE Consultation | 585-310-5140
If you believe you were a victim of predatory lending, investment fraud, or broker misconduct, it is imperative to take action. Peiffer Wolf Carr Kane & Conway has represented thousands of victims, and we remain committed to fighting on behalf of investors. We focus on identifying parties that are not only liable but have the financial ability to compensate victimized investors. Our goal is to put money back into our clients’ pockets.
Contact Peiffer Wolf Carr Kane & Conway today by filling out a Contact Form on our website or by calling 585-310-5140 to schedule a FREE Case Evaluation.
