NEW YORK, NY Are you a former customer of financial advisor Steven Schmitt from New York, New York? The investment fraud and securities arbitration law firm of Israels & Neuman is reviewing allegations made against this advisor, who previously worked with Morgan Stanley and is now with Raymond James.

Morgan Stanley was sued in FINRA arbitration in December 2023 regarding Mr. Schmitt’s conduct. It was alleged that he executed an unsuitable investment strategy in a customer’s account from 2018 to 2022. The investor allegedly lost $385,000 because of this strategy.

Steven W. Schmitt was with Morgan Stanley in New York from October 2016 to November 2022, and is currently with Raymond James in Paramus, New Jersey.

Morgan Stanley is a FINRA member firm and must have written supervisory and compliance procedures, under securities rules and regulations. If brokerage firms fail to reasonably supervise their advisors, they may be held liable for customer losses.

Israels & Neuman has represented numerous investors throughout New York and New Jersey and have sued dozens of brokerage firms in the past, recovering millions of dollars for investors who have suffered investment losses.

VIEW BROKERCHECK REPORT HERE.

If you lost money with Steven Schmitt or Morgan Stanley, please Contact Us at (206) 795-5798 for a free evaluation of your case.

PARAMUS, NEW JERSEY Did you invest with financial advisor Michael Brickman in Paramus, New Jersey? The securities and investment fraud law firm of Israels & Neuman is reviewing allegations against Michael Brickman, who previously worked with Pruco Securities (Prudential). He was barred from the securities industry by FINRA, according to FINRA’s Disciplinary Database.

Mr. Brickman voluntarily resigned from Pruco Securities while he was under an internal investigation for accepting checks from a client. That led to the FINRA investigation. After he failed to respond to FINRA’s investigation, he was barred.

Brickman was registered with Pruco Securities from May 2018 to August 2023. He worked in Paramus, New Jersey and was also the subject of a June 2023 customer complaint.

Israels & Neuman has recovered millions of dollars for investors in the past and have represented numerous investors in New Jersey.

FINRA AWC can be found HERE BrokerCheck Report can be found HERE

If you lost money with Michael Brickman, or Pruco Securities, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

Robert Lax was a registered representative of Park Avenue Securities from 1999 to May 2021. He has worked at branch offices in Paramus, New Jersey. Lax was affiliated with a number of businesses, including R&L Financial Services, Affordable Storage Solutions, Integrity Properties, and others.

Brokerage firms like Park Avenue Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Park Avenue Securities.

View BrokerCheck: Lax, Robert BrokerCheck 6.23.21

If you lost money with Robert Lax or Park Avenue Securities, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.