Public records published by the Financial Industry Regulatory Authority (FINRA) on June 27, 2016 indicate that New York-based Janney Montgomery Scott broker/adviser Laurence Braunstein has been the subject of settled or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Braunstein (CRD# 1220577).
Laurence Braunstein has spent 32 years in the securities industry and has been registered with Janney Montgomery Scott in New York, New York since May 2015. Previous registrations include Morgan Stanley in New York, New York; First Allied Securities in New York, New York; Walnut Street Securities in El Segundo, California; Nathan & Lewis Securities in New York, New York; and Home Life Equity Sales. He is a registered broker and investment adviser with 23 US states and territories.
According to his BrokerCheck report, Laurence Braunstein has received four customer complaints and one pending customer complaint.
In May 2016, a customer alleged Laurence Braunstein, while employed at Morgan Stanley Smith Barney, recommended unsuitable investments. The customer is seeking unspecified damages in the pending complaint.
In May 2015, Laurence Braunstein voluntarily resigned from his position at Morgan Stanley following “allegations relating to registered representatives trading of unit investment trusts and exchange traded funds in several clients’ accounts.”
In 2013, a customer alleged Laurence Braunstein, while employed at Morgan Stanley Smith Barney, misrepresented material facts. The complaint settled in 2014 for $25,000.
In 2011, a customer alleged Laurence Braunstein, while employed at Morgan Stanley Smith Barney, “invaded principal without client’s permission to meet monthly income shortfall.” The complaint settled for $3,000.
In 2011, a customer alleged Laurence Braunstein, while employed at First Allied Securities, misrepresented and omitted material facts, made unsuitable recommendations, and breached his fiduciary duty. The complaint settled in 2012 for $125,000.
In 2010, a customer alleged Laurence Braunstein, while employed at First Allied Securities, breached his fiduciary duty, violated the New Jersey Consumer Fraud Act, and committed fraud. The complaint settled in 2011 for $490,316.
If you have suffered losses while investing with Laurence Braunstein, you may be entitled to a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.