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RBC Capital Markets Broker Paul Blum: Complaints

Paul BlumFormer Florida-based RBC broker Paul Blum is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Blum (CRD# 735003).

Stockbroker Paul Blum has spent 34 years in the securities industry and was most recently registered with RBC Capital Markets in West Palm Beach, Florida (2009-2015). Previous registrations include JB Hanauer & Company in West Palm Beach, Florida (1991-2009); Prudential-Bache Securities in New York, New York (1990-1991); and JB Hanauer & Company in Parsippany, New York (1981-1990). He is currently not registered with any state or firm.

According to his BrokerCheck report, Paul Blum is the subject of seven customer complaints and five pending customer complaints.

  • In February 2016 a customer alleged Paul Blum, while employed at RBC Capital Markets, handled accounts on a discretionary basis and disregarded the portfolio’s risk. The customer is seeking $375,000 in damages in the pending complaint.
  • In February 2016 a customer alleged Paul Blum, while registered with RBC Capital Markets, was never informed of the risk in his portfolio. The customer is seeking unspecified damages in the pending complaint.
  • In January 2016 a customer alleged Paul Blum, while employed at RBC Capital Markets, recommended unsuitable and over-concentrated energy investments. The customer is seeking $886,070 in damages in the pending complaint.
  • In 2015 a customer alleged Paul Blum, while employed at RBC Capital Markets, purchased high-yield bonds without prior consultation. The customer is seeking $133,000 in damages in the pending complaint.
  • In 2015 a customer alleged Paul Blum, while employed at RBC Capital Markets, acted negligently in respect to his recommendation of certain bonds that have since defaulted. The customer is seeking $450,000 in damages in the pending complaint.
  • In 2012 a group of customers alleged Paul Blum, while employed at RBC Capital Markets and JB Hanauer & Company, effected excessive transactions in their trust accounts. The complaint settled in 2014 for $110,000.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, misrepresented material facts related to an investment. The complaint settled for more than $107,200.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, misrepresented and omitted material facts related to an investment in plaid clothing bonds. The complaint settled in 1996 for $468,000.

If you or someone you know has a complaint regarding Paul Blum, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This information based on public records published by the Financial Industry Regulatory Authority (FINRA) on March 15, 2016.