Firms We Have Pursued For Our Clients

Firms We Have Pursued

During the more than three decades we have been representing investors seeking the recovery of investment losses, have brought actions alleging broker misrepresentation, misconduct, negligence, unsuitability and/or fraud against most of the broker-dealers with whom you are familiar, including:

Aegis Capital
Aragon Berman
Acument Securities
Advest, Inc.
A.G. Edwards, & Sons
Alex Brown & Sons
AGP Alliance Global Prnr
American Investors Life
Ameriprise Financial Services
Asset Management Securities Corp.
AXA Equitable
Bank of America
Barber & Bronson
Barry Financial Group
Bear Stearns
Berthel Fisher & Co.
Biltmore Securities, Inc.
Canterbury Securities
Capital Financial Services
Clearing Services of America
Charles Schwab
Chelsea Financial Services
CIBC Oppenheimer
Clearing Services of America
Coastal Equities
Continental Broker Dealer
Corporate Securities Group
Costa Financial
DBC Rain Daucher
Donaldson Lufkin & Jenrette
Dreyfuss Service Corp.
Edward Jones & Co. LP
Essex Securities
Euro Pacific Capital
Fintegra LLC
First Allied Securities
First Atlantic Resources
First Canterbury Securities
First Liberty Investment Group
First Union Securities
First United Equities
FSC Securities Corporation
FMS Bonds
G.A. Repple
Garden State Securities
Great Western Financial Securities
Gruntal & Co., LLC
GunnAllen Financial, Inc.
Halpert & Co.
  Harris Trust
H. Beck
Hilltop Securities
H.J. Meyers
Investacorp, Inc.
Investec Bank PLC
Invest Financial
Investment Centers of America
Investors Capital Corp.
Janney Montgomery Scott
Janssen Meyers
J.B. Hanauer
Jefferies LLC
Jefferson Pilot
J.P. Morgan
J.W. Charles
Joseph Charles
J.P. Turner
Legg Mason
Lehman Brothers
L.H. Ross & Company, Inc.
Liberty National Financial
Liberty National Life Insurance
Lincoln Financial Advisors
Linsco Private Ledger
LPL Financial
Madison Avenue Securities
Maxim Group LLC
McNally Financial Services
Melhado Flynn
Merrill Lynch
Mesirow Financial Services, Inc.
Moors & Cabot
Money Concepts Capital Corp.
Montauk Financial
Morgan Keegan
Morgan Stanley Wealth Management
Muriel Siebert & Co., Inc.
National Planning Corp.
National Securities Corp
Nelson Invest Brokerage Services, Inc.
New England Securities
Newbridge Securities
NEXT Financial Group
Noble Investments
Northern Trust Securities
Olde Discount Corporation
Parkland Securities
Penson Financial Services
Prime Charter
Prudential Equity Group
Prudential Securities
Questar Capital
Raymond James
RBC Capital Markets
Roan-Meyers Associates LP
Royal Alliance
Royce Investment Group, Inc.
Ryan Beck & Co.
Sagepoint Financial
Smith Barney
Samco Financial
Sanford Bernstein
Schneider Securities
Securities America
Sigma Financial
Shochet Securities
Somerset Financial Group, Inc.
Southtrust Securities, Inc.
Spartan Securities
Summit Brokerage Services
SunTrust Investment Services
SunTrust Securities
Tasin & Co.
Telaro Securities
Titan Securities
The Tidal Group
Titan Securities
UBS PaineWebber
U.S. Trust
United Planners
VFG Securities
VSR Financial Services
VOYA Financial
Wachovia Securities
Waddell & Reed
Wells Fargo Advisors
West America Securities Corp.
Whale Securities
Woodbury Financial
Worden Capital


There are some 5,000 registered broker-dealers in the United States. These firms range from the largest and most well known wirehouses, to large regional firms, down to the local broker-dealer that may have only one office.

It is quite possible that the firm or broker you are considering dealing with may have prior regulatory problems and/or prior customer complaints. Before you hand over your nest egg that you may have spent a lifetime accumulating, we suggest that you do two things:

  • Go the the Edgar website of the Securities & Exchange Commission and take a look at the most recent financial statement (X17A-5) for the company you intend to do business with. If it is one of the big well known national firms, you can probably skip this step since they likely have adequate financial resources to cover any typical broker negligence or fraud. If however it is a regional firm or small local firm, you should definitely take a look at the financials to see if they have the wherewithal to cover investor claims should one of their brokers negligently handle customer accounts or in the case of stockbroker fraud. Input the name of the company you are considering trusting with your retirement funds on the SEC Edgar website. On the results page, look for the most recent X-17A-5 filing and take a look at the amount of shareholder equity on the balance sheet. Since many firms do not carry insurance for broker negligence and fraud, the amount of shareholder equity may be the limit of that firm’s ability to cover customer losses.
  • Next you should visit the FINRA BrokerCheck website and input the name of ‘Individual” who will be handling your account. After confirming that you have the correct broker (look at the name of the firm he works for to be sure), follow the link to the Detailed Report and review it to see if there are any disclosure items, which may include disciplinary matters, terminations or customer complaints and arbitrations. Use this information, coupled with your assessment of the broker’s integrity and the recommendations of trusted friends, to make your decision.
  • You can obtain a similar report from FINRA on the ‘Firm” by performing another search on the FINRA BrokerCheck website.

If you prefer, we are happy to obtain these reports for you at no charge. Call our office or email Robert H. Rex, Esq. ( and I will be happy to forward the documents to you.

Call 561-391-1900, and speak with Mr. Rex or his secretary Nan Thompson.

We do not charge for your initial consultation to determine if we can help you.

There is no regulatory requirement that brokerage firms carry insurance to cover losses for the inappropriate, negligent or fraudulent advice that may have resulted in the accounts you or your loved ones.

In September 2014, after studying the matter for a year, FINRA decided that it could not compel brokerage firms to carry insurance to cover awards and verdicts customers might obtain against them and their brokers for fraud and/or negligence in the handling of customer accounts. This means that if your account is at a firm with limited net capital (many have less than $100,000 in net capital) and the broker makes a mistake, or worse yet, commits fraud and your nest egg suffers, your case may put them out of business. Unfortunately, if they are forced to file bankruptcy because the $250,000 loss they have been ordered to pay exceeds their $75,000 net capital, that does not get any money back to you.

Often times these losses, when suffered by the elderly who are living on fixed income, are devastating to the individual as well as the family, who now must figure out how to pay the health costs and living expenses with what now remains of the nest egg.

We routinely see cases where proving that the broker and the firm are liable for the losses is not really the issue, since often times the abuse is so flagrant. The problem is that the broker and firm may have very limited ability to pay damages. Unless the firm has insurance, which is not common, there is little that can be done to recover these losses.

Dealing with larger firms eliminates much, if not all of the risk associated with ability to pay.

If you have questions about the way your brokerage account has been handled or are in the process of investigating a new broker or brokerage firm you contemplated doing business with, give us a call at 561-391-1900 and we will be happy to help.

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