DID STUART L. PEARL CAUSE YOU INVESTMENT LOSSES?
Stuart L. Pearl formerly with David A. Noyes & Company Has 5 Customer Complaints for Alleged Broker Misconduct
Who is Stuart L. Pearl Formerly with David A. Noyes & Company?
Stuart Pearl (CRD #1500833) who was formerly registered with David A. Noyes & Company and located in Indianapolis, Indiana is a subject of one of our many securities industry sales practice abuse investigations.
Prior to David A. Noyes & Company, Stuart Pearl was associated with Ameriprise Financial Services, Inc. and 3 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Stuart Pearl has had his own personal regulatory problems. In October 2017, he entered into an Acceptance, Waiver & Consent agreement with FINRA, whereby he agreed, without admitting or denying the findings that he affected securities transactions and customer’s account.
On several occasions on a discretionary basis without prior written authorization from the customer and without prior written acceptance of the account as a discretionary account from his member firm, Ameriprise Financial Services, LLC. He was suspended by FINRA for 45 days and fined $7,000. His employer then terminated him for violation of the firm’s policies relating to discretionary accounts.
After he re-entered the securities industry from serving his suspension, he became employed at David A. Noyes & Co. was placed on a heightened supervision program. The firm permitted him to resign when it determined he had not followed the heightened supervision plan and stated he would’ve been terminated at a not resigned.
David A. Noyes & Company Broker Misconduct
In his career, Stuart Pearl has been the subject of 5 customer complaints that we know about, 2 of those complaints were filed in the last 2 years to recover investment losses.
Four of Stuart Pearl’s 5 customer complaints were settled in favor of investors. There is currently one pending customer complaint filed against Stuart Pearl’s former employer David A. Noyes & Company for investment losses caused by his alleged misconduct.
Allegations Against Stuart Pearl
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- The claimant alleged Stuart Pearl placed a large hedge position in the account without his knowledge.
- The claimant alleged that Stuart Pearl bought and sold investments without first consulting the claimant and thereby exercising de facto discretionary control over her account.
- The claimant alleged that Stuart Pearl exercises discretion and over traded and heavily margined her accounts and further recommended unsuitable investments.
- The clients alleged unauthorized trading and use of margin in their accounts.
- The client alleged that Stuart Pearl breached his fiduciary duty, committed negligence, and violated NASD and NYSE rules.
Stuart Pearl Red Flags & Your Rights as An Investor
Of course, Stuart Pearl 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 Stuart Pearl at David A. Noyes & Company and Ameriprise Financial Services, Inc. on alert to review carefully the activity and performance of their accounts and question whether Stuart Pearl has engaged in any stockbroker misconduct that may have caused them investment losses.
A large number of customer complaints at David A. Noyes & Company and Ameriprise Financial Services, Inc. also raises questions about their 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 David A. Noyes & Company
If you have questions about David A. Noyes & Company, Ameriprise Financial Services, Inc., and/or Stuart Pearland 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.