Last Updated: June 2025 – Vienna, VA
Here’s what you need to know about Vienna, VA, stockbroker Philip Simonides:
- Name: Philip Allen Simonides
- CRD Number: 1847411
- Current Employers:
- Madison Avenue Securities, LLC (CRD# 23224)
- McAdam LLC (CRD# 170914)
- Prior Employers:
- Purshe Kaplan Sterling Investments
- Voya Financial Advisors, Inc.
- Ameriprise Financial Services, Inc.
- IDS Life Insurance Company
- Function: Stockbroker / Registered Investment Advisor
- Primary Location: Vienna, VA
- Can Philip Simonides be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? No
- Pending Customer Dispute Seeks Damages of : $157,747
If you’ve sustained damages from Mr. Simonides, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Philip Simonides As Your Stockbroker?
In February 2025, a customer of Purshe Kaplan Sterling filed a FINRA arbitration (Docket No. 25-00347) alleging that Philip Simonides made an unsuitable investment recommendation to invest in Skyloft DST (Delaware Statutory Trust), a real estate security. The claim seeks $157,747 in damages and currently pending.
What is a Delaware Statutory Trust (DST) ?
Other Investigations involving Delaware Statutory Trusts (DSTs)
Under FINRA Rule 2111 (Suitability), brokers are required to ensure that investment recommendations align with a customer’s investment profile, including risk tolerance, objectives, and financial situation. The sale of illiquid and complex real estate securities like DSTs to retail investors often raises regulatory concerns under this rule.
Allegations of Broker Misconduct Against Philip Simonides
The following allegations have been made against Mr. Simonides:
- Unsuitable Investment Recommendation
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Philip Allen Simonides, 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.