gary-ginsberg-facing-customer-dispute

The client alleged that the due diligence review performed on an alternative investment was unreasonable.

The Sonn Law Group is investigating allegations that Gary Ginsberg committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

gary-ginsberg-facing-customer-disputeGary Ginsberg (CRD#: 1175258) is currently registered as a broker and investment adviser with Ameriprise Financial Services in West Orange, NJ, where he has been employed since June 2020. Previously, Ginsberg was registered as a broker and investment adviser with Royal Alliance Associates from 1992 until June 2020. 

Ginsberg has five disclosures on his BrokerCheck report.

September 2020 Customer Dispute

  • Status: Pending
  • Allegations: Claimant alleges Royal Alliance’s due diligent review of an alternative investment was unreasonable
  • Damage Amount Requested: $100,000.00

August 2020 Customer Dispute

  • Status: Denied
  • Allegations: Client alleges that the purchase of a non-traded REIT was unsuitable.
  • Damage Amount Requested: $5,000.00

January 2012 Customer Dispute

  • Status: Settled
  • Allegations: Customer alleges that he requested that a beneficiary IRA account be opened in connection with the purchase of a variable annuity, but that a traditional IRA was opened instead and that this allegedly caused an increased tax liability.
  • Damage Amount Requested: $40,000.00
  • Settlement Amount: $30,000.00
  • Broker Comment: The matter was settled as a business decision to avoid the costs associated with protracted litigation.

December 2010 Regulatory Judgment

  • Status: Final
  • Initiated By: State of New York Insurance Department
  • Allegations: State of New York Insurance Department conducted investigations in the sale of annjuity contracts in NY by company not authorized to sell products in NY. Further, State investigated whether I knowingly submitted applications purportedly signed in NJ that I knew were signed in NY.
  • Resolution: Stipulation and Consent
  • Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
  • Amount: $20,600.00

Contact Us Today

The Sonn Law Group is currently investigating allegations that Gary Ginsberg committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.

Sonn Law Group is investigating claims regarding Joel Eziekel Blum (CRD #4905379, Goshen, New York). Blum recently submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 days. See FINRA Case #2014040186601. Blum was associated with Merrill Lynch from May 2008 until his termination in February 2014. Blum has been associated with Ameriprise Financial Services, Inc., since February 2014. The Form U-5 filed by Merrill Lynch to terminate Blum's registration states that he was discharged for "conduct including failure to contact clients in advance of entering orders in non-discretionary accounts and mismarking order tickets as unsolicited." FINRA found that Blum executed discretionary transactions in customer accounts without written authorization to do so. In addition, Blum mismarked order tickets in connection with these transactions, inaccurately indicating that the trades were unsolicited, according to FINRA. In entering into the AWC, Blum neither admitted or denied FINRA's findings. Pursuant to FINRA Rules, member firms are responsible for supervising a broker's activities during the time the broker is registered with the firm. Therefore, Ameriprise or Merrill Lynch may be liable for investment or other losses suffered by Blum's customers. If you were a client of Ameriprise, Merrill Lynch, or Blum, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our "contact form."
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