Last Updated: November 2023 (West Orange, NJ/ Jupiter, Florida)
Arthur Grossbard Investigation Summary
Here’s what you need to know about Jupiter, Florida & West Orange, NJ, stockbroker Arthur Grossbard:
- Name: Mr. Arthur Grossbard
- Current Employer: Ameriprise Financial Services, Ameriprise Financial Services (RIA)
- Previous Firms: Royal Alliance Associates
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Arthur Solomon Grossbard, Artie Grossbard
- Primary Location: West Orange, New Jersey & Jupiter, FL
- CRD 1020971
- Can Artie Grossbard be sued in FINRA arbitration: Yes
- Sanctioned by Securities Regulators: Yes
- Highest Settlement or Award: $65,000
- Pending Customer Dispute Seeks Damages of $101,001
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Arthur Grossbard As Your Stockbroker?
In a pending FINRA arbitration a customer of Royal Alliance alleges that Artie Grossbard recommended an alternative investment that is not suitable and is seeking damages of $100,001.
Two other cases brought by customers of Royal Alliance Associates have been settled. The allegations in those cases were that Artie Grossbard recommended unsuitable private placement investments.
The NASD (predecessor to FINRA) has sanctioned Artie Grossbard for violations of the “ know your customer” rule. Vermont securities regulators sanctioned Grossbard for liquidatioj and reinvestment with undue frequency and without reasonable justification.
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
Allegations of Broker Misconduct Against Arthur Grossbard
Customers of Artie Grossbard have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in private placements
- Unsuitable Investment Recommendation to invest in alternative investments
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Artie Grossbard, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
