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Broker Spotlight: Martin Walcoe

Martin Walcoe New York-based David Lerner Associates broker Martin Walcoe is the subject of resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Walcoe (CRD# 1593935).

Martin Walcoe has spent 29 years in the securities industry and has been registered with David Lerner Associates in Syosset, New York since 1996. He was previously registered with David Lerner Associates in New York, New York (1986-1995). He is a registered broker with 24 US states and territories.

According to his BrokerCheck report, Martin Walcoe is the subject of one customer complaint and one pending customer complaint.

In 2014 a customer alleged Martin Walcoe, while employed at David Lerner Associates, made unsuitable investment recommendations. The customer is seeking damages exceeding $90,000 in the pending complaint.

In 2012 a customer alleged Martin Walcoe, while employed at David Lerner Associates, misrepresented material facts and recommended an unsuitable investment. The complaint resulted in an award to the customer of $260,000.

According to FINRA rules and federal securities law, brokers like Martin Walcoe must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you have lost money investing with Martin Walcoe, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This information based on publicly available documents provided by FINRA on March 23, 2016.