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Mitchell Bornstein Formerly With Cetera Investment Services LLC Has 2 Customer Complaints For Alleged Broker Misconduct

About Mitchell Bornstein formerly with Cetera Investment Services LLC?

Mitchell Bornstein

Mitchell Bornstein (CRD #2631779) has a comprehensive history within the financial services industry, though he is not currently registered. Over his career, he has been associated with several firms including HSBC Securities, Citicorp Investment Services, UBS Financial Services, and more recently, Cetera Investment Services LLC from March 2018 to November 2020. Bornstein has successfully completed a variety of industry exams, including two principal/supervisory exams (Series 9 and 10), two general industry/product exams (Series 7 and SIE), and two multi-state securities law exams (Series 63 and 65). His professional tenure includes registrations across multiple locations within New York and other states.

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Mitchell Bornstein Customer Complaints and Reviews

Mitchell Bornstein’s report shows two customer disputes:

  • First Customer Dispute: In August 2020, a customer alleged unsuitable investment recommendations while Bornstein was with Cetera Investment Services LLC, involving a product type identified as CDs. Initially claimed damages were $50,000, with a final settlement of $12,000 awarded in July 2021; Bornstein did not contribute personally to the settlement amount.
  • Second Customer Dispute: Filed in June 2007 during his tenure at HSBC Securities (USA) Inc., the customer claimed that they were not informed about a 1% charge for liquidation of a bond fund, involving alleged damages of $7,714.95. This complaint was denied in July 2007 without any action taken against Bornstein

Allegations Against Mitchell Bornstein

  • Customer Dispute (Cetera Investment Services LLC):
  • Date Filed: August 21, 2020
  • Allegations: Unsuitable investment recommendations concerning CDs, with a claim for $50,000 in damages. The case concluded with a settlement of $12,000, although Bornstein personally contributed nothing to the settlement amount.
  • Outcome: Settled in July 2021​​.
  • Customer Dispute (HSBC Securities (USA) Inc.):
  • Date Filed: June 28, 2007
  • Allegations: Non-disclosure of a 1% liquidation charge on a bond fund, with claimed damages of $7,714.95.
  • Outcome: Complaint was denied, and no action was taken against Bornstein

Mitchell Bornstein Red Flags & Your Rights As An Investor

Of course, Mitchell Bornstein 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 which should put all current and former customers of Mitchell Bornstein at Cetera Investment Services LLC on alert to review carefully the activity and performance of their accounts and question whether Mitchell Bornstein has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Cetera Investment Services LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

Did You Lose Money Because of Broker Misconduct?

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If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.

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File A Claim To Recover Your Investment Losses At Cetera Investment Services LLC Due To Mitchell Bornstein

 If you have questions about Cetera Investment Services LLC and/or Mitchell Bornstein 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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