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Alan Appelbaum of Aegis Capital and Formerly with Herbert J. Sims & Co Has 13 Customer Complaints for Alleged Broker Misconduct

Who is Alan Appelbaum of Aegis Capital?

Alan Appelbaum (CRD #500336) who is currently registered with Aegis Capitaland located in Boca Raton, Florida is a subject of one of our many securities industry sales practice abuse investigations.

Prior to Aegis Capital, Alan Appelbaum was associated with Herbert J. Sims & Co and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Alan Appelbaum has had his own share of regulatory problems.  He was the subject of investigations by the State of New Hampshire, FINRA F/K/A NASD, and United States Securities and Exchange Commission. All three government agencies censured and/or fined him for alleged stockbroker misconduct.

Alan Appelbaum Customer Complaints

Alan Appelbaum has been the subject of 13 customer complaints that we know about. One Alan Appelbaum’s 13 customer complaints resulted in an arbitration award in favor of the investors. Eight of Alan Appelbaum’s 13 customer complaints were settled in favor of investors.

Two of Alan Appelbaum’s customer’s complaints were denied and the customers did not take any further action. There are currently two pending customer complaints filed against Aegis Capital for investment losses caused by Alan Appelbaum’s alleged misconduct.

Allegations Against Alan Appelbaum

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Claimants alleged failure to recognize that change in circumstances and desire to pursue a low-risk conservative strategy, unsuitable trading in proprietary investments and structured products by Alan Appelbaum.
  • The client alleged an unsuitable product and churning by Alan Appelbaum.
  • The client alleges breach of fiduciary duty, negligence, fraud, breach of contract, and violation of NASD and FINRA rules by Alan Appelbaum.
  • Multiple clients expressed dissatisfaction with the recommendation of various municipal bonds allegedly made by Alan Appelbaum.
  • The customer alleges negligence, breach of fiduciary duty, and improper management and monitoring of his account by Alan Appelbaum.
  • The customer feels broker’s mark-up on bonds were excessive. Improper conduct allegedly by Alan Appelbaum.
  • Alan Appelbaum’s client alleged fraud; negligent misrepresentation; strict liability misrepresentation; unsuitability; and common law breach of fiduciary duty.
  • Another client alleged Alan Appelbaum’s recommendations were not consistent with the clients’ investment goals and objectives.
  • Purchases of high yield bonds were contrary to his investment objectives allegedly made by Alan Appelbaum.
  • Alan Appelbaum allegedly made unsuitable investment recommendations.
  • The claimant alleges unsuitability and unauthorized transactions by Alan Appelbaum.

Alan Appelbaum Red Flags & Your Rights as an Investor

Of course, Alan Appelbaum did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags that should put all current and former customers of Alan Appelbaum at Aegis Capital and Herbert J. Sims & Co on alert to review carefully the activity and performance of their accounts and question whether Alan Appelbaum has engaged in any stockbroker misconduct that may have caused them investment losses.

The large number of customer complaints at Aegis Capital and Herbert J. Sims & Co also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim to Recover Your Investment Losses at Aegis Capital Due to Alan Appelbaum

If you have questions about Aegis Capital, Herbert J. Sims & Co, and/or Alan Appelbaum and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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