Last Updated: March 2024 (San Jose, CA)
Milind Dalal Investigation Summary
Here’s what you need to know about San Jose, CA, stockbroker Milind Dalal:
- Name: Milind Pinak Dalal
- Current Employer: Clarity Wealth Advisors (RIA), Not currently registered with FINRA
- Previous Firms: Purshe Kaplan Sterling Investments, Pruco Securities
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Milind Dalal
- Primary Location: San Jose, CA
- CRD 2368965
- Can Milind Dalal be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Pending Customer Dispute Seeks Damages of $500,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Milind Dalal As Your Stockbroker?
A customer of Clarity Wealth Advisors filed an action in Superior Court of CA, Santa Clara County in 2023 alleging that Milind Dalal provided bad advice in relation to the investment club Casa Blanca Investments. Damages of $500,000 are sought in this pending matter.
Allegations of Broker Misconduct Against Milind Dalal
A customer of Milind Dalal has alleged the following wrongdoing in connection with the handling of customer accounts:
- Negligence
- Bad Advice
- Breach of fiduciary duty
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
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.
[LEARN MORE]: FINRA Rule 2111- suitability
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.
What is an Investment Adviser?
“An investment adviser is a
- firm or person
- that, for compensation, engages
- in the business of providing investment advice to others about the value of or about investing in securities – stocks, bonds, mutual funds, exchange traded funds (ETFs), and certain other investment products
and/or
- in issuing reports or analyses regarding securities, as part of a regular business.
Advisers typically provide ongoing advice about buying, selling and/or holding investments and will monitor the performance of your investments and their alignment with your overall investment objectives. The fee that you pay for this advice is typically based on the value of all of the assets held in your account with the adviser. You may pay other fees and costs related to servicing your account and the investments that you buy, sell or hold. Advisers also may give advice about market trends or asset allocation or offer financial planning services.”
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]: Other investigations of Purshe Kaplan Sterling brokers
If you have suffered investment losses in an account handled by Milind Dalal, 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.
