Wallingford, Connecticut Investment Advisor Named in Four Pending FINRA Arbitration Cases
If you suffered investment losses while working with Woodbury Financial Services broker, Robert Scott Ginsberg, please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com). The Woodbury Financial investment advisor, who is based in Wallingford, Connecticut, is named in four pending customer disputes.
He has been in the securities industry for 12 years. Prior to working for Woodbury Financial Services in 2016, where he is also a registered investment advisor, Ginsberg was a registered representative for Investors Capital Corp. and Investors Capital Advisory.
Pending Customer Disputes Accuse Woodbury Financial Services Broker of Unsuitability
The pending disputes naming Connecticut broker, Robert Ginsberg include claims of unsuitability, broker negligence, and more. Below are the listed investor disputes on Ginsberg’s Brokercheck record:
- 8/2020: The customer claims that unsuitable investment recommendations made by the Woodbury Financial broker caused investment losses.
- 4/2019: Public information notes that Robert Ginsberg allegedly recommended that the claimant sell more than 6,000 Microsoft common stock shares and reinvest them in over a dozen speculative, illiquid non-traded real estate investment trusts (REITs), business development companies (BDCs), and publicly traded REITs. The claimant, who is physically disabled, relied on the stockbroker for financial advice.
When this FINRA arbitration case was filed in 2019, the Microsoft shares’ price went up from $32/share to $108/share -meaning they would have been worth over $650K value had they not been sold. Meanwhile, two of the non-traded REITs that the customer purchased, including United Development Funding, have been the subject of regulatory lawsuits and class action cases.
The claimant, who is accusing Ginsberg of misrepresenting the risks involved in the REIT, non-traded REIT, and business development company (BDCs) investments, is seeking $500K in damages.
- 12/2017: This unsuitable investor fraud claims the broker recommended unsuitable investment recommendations for the customer’s investment profile.
- 11/2017: This claimant is seeking $1M in damages and contends that the real estate investment trusts that Ginsberg recommended were not only unsuitable but also they led to unnecessary tax liability.
Broker-Dealer Negligence: Get Help from Our Securities Fraud Lawyers
Customers can pursue damages from the broker-dealers whose financial advisors gave poor and unsuitable investment advice that led to their investment losses. Failure to properly supervise their registered representatives is just one of the grounds for pursuing such a claim.
Contact our skilled FINRA arbitration attorneys at (800) 259-9010 today. SSEK Law Firm has the knowledge, resources, and experience to go after even the largest firms on Wall Street on behalf of investors across the United States.