DID RONALD DAVID BIRNBAUM CAUSE YOU INVESTMENT LOSSES?
Ronald David Birnbaum with Advisory Group Equity Services Ltd. Has 3 Customer Complaints For Alleged Broker Misconduct In the Past 2 Years
Who is Ronald D. Birnbaum with Advisory Group Equity Services Ltd.?
Ronald Birnbaum (CRD #2382580) who is currently registered with Advisory Group Equity Services Ltd. and located in Newton, Massachusetts is a subject of one of our many securities industry sales practice abuse investigations. Prior to Advisory Group Equity Services Ltd., Ronald Birnbaum was associated with four other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Advisory Group Equity Services Ltd. Broker Misconduct
In his career, Ronald Birnbaum has been the subject of 6 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. Two of Ronald Birnbaum’s 6 customer complaints were settled in favor of investors. There are currently 4 pending customer complaints filed against Ronald Birnbaum’s current employer Advisory Group Equity Services Ltd. for investment losses caused by his alleged misconduct.
It appears that many of the complaints filed against Ronald Birnbaum relate to direct investments in private placements, limited partnership interests and tenant in common investments in the oil and gas and real estate sectors.
The most recent complaints appear to be related to GPB Capital Holdings, LLC sponsored private placements. The typical GPB investments were high risk, high commission (over 11%) and illiquid investments that were not registered with the SEC or any other regulator. These were unsuitable investments for unsophisticated investors at or near retirement primarily because of their illiquidity.
Allegations Against Ronald Birnbaum
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- Claimants alleged unsuitable investments in breach of fiduciary duty with respect to direct investments in private placements and limited partnership interests involving the oil and gas and real estate industries.
- Claimants alleged unsuitable investments in private placements and limited partnership interests.
- Claimant alleged failure to conduct reasonable due diligence, overconcentration and unsuitable investment recommendations in private placements and limited partnership interests.
Ronald Birnbaum Red Flags & Your Rights As An Investor
Of course, Ronald Birnbaum 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 Ronald Birnbaum at Advisory Group Equity Services Ltd. on alert to review carefully the activity and performance of their accounts and question whether Ronald Birnbaum has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Advisory Group Equity Services Ltd. also raises questions about its 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 Advisory Group Equity Services Ltd.
If you have questions about Advisory Group Equity Services Ltd. and/or Ronald Birnbaum 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.