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Mel Hertz Allegedly Failed to Supervise Investor’s Account

Mel Hertz

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 23, 2018 indicate that Hawaii-based Strategic Financial Alliance broker/adviser Mel Hertz is involved in resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hertz (CRD# 707875).

Mel Hertz has spent 37 years in the securities industry and has been registered with The Strategic Financial Alliance in Kailua, Hawaii since 2003. Previous registrations include IFG Network Securities in Atlanta, Georgia (1992-2003); Derand/Pennington/Bass (1988-1992); EA Company (1982-1988); R&E Investments (1982); and S&E Investments (1980-1981). He has passed seven securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 21, 1987; Series 7 (General Securities Representative Examination), which he obtained on September 15, 1984; Series 1 (Registered Representative Examination), which he obtained on April 18, 1980; Series 53 (Municipal Securities Principal Examination), which he obtained on February 1, 1985, Series 24 (General Securities Principal Examination), which he obtained on January 5, 1985; Series 39 (Direct Participation Programs Principal Examination), which he obtained on October 2, 1982; and Series 26 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on October 2, 1982. He is a registered broker and investment adviser with 16 US states and territories: Arizona, California, Colorado, the District of Columbia, Florida, Hawaii, Maryland, Massachusetts, Michigan, Nevada, New Mexico, North Carolina, Ohio, Oregon, Texas, and Washington.

According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, and one denied customer complaint.

In April 2018 a customer alleged Mel Hertz, while employed at The Strategic Financial Alliance, recommended unsuitable investments and failed to properly supervise a third-party-managed account. The customer is seeking $133,000 in damages in the pending complaint.

In May 2017 a customer alleged Mel Hertz, while employed at The Strategic Financial Alliance, omitted material facts related to an annuity investment. The customer sought more than $11,000 in damages in the complaint, which was denied.

In 2013 a customer alleged Mel Hertz, while employed at The Strategic Financial Alliance, misrepresented and omitted material facts in connection to unsuitable investment recommendations. The complaint settled for $150,000.

If you or someone you know has a complaint regarding Mel Hertz, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.