Adam Feierstein Gets Suspended By FINRA

FINRA Suspends ProEquities Broker Adam Feierstein

FINRA BrokerCheck contains alarming information in regard to securities broker Adam S. Feierstein (CRD#: 6033082, Redondo Beach, California). Evidently, the securities broker worked for Woodbury Financial Services (2013 to 2018) and ProEquities (2018 to 2020). Notably, since 2019, Feierstein has been: targeted in a client dispute; terminated from ProEquities for alleged misconduct; and suspended by FINRA for failing to respond to requests for his information. Let’s take a closer look at these disclosures.

FINRA Sanctions Adam Feierstein In February 2021 For Failure To Respond

Supposedly, FINRA asked Feierstein to provide information – but Adam Feierstein did not respond. While it is unclear what information FINRA is seeking, it likely has to do with the circumstances of Feierstein’s departure from ProEquities, or that a client alleged that he committed sales practice violations.
Feierstein’s failure to respond to FINRA was met with a February 2021 suspension, meaning that the securities broker cannot currently work as a securities broker for any FINRA-member securities firms. Also, if he does not either satisfy FINRA’s requests or ask for his suspension to be lifted, then he will be barred in May 2021.

ProEquities Disaffiliates With Feierstein In October 2020 For Alleged Misconduct

Securities firm ProEquities disaffiliated with Adam Feierstein in October 2020. Supposedly, Feierstein used an outside email account so that he could do securities business. Also, ProEquities alleged that Feierstein did not fulfill his training requirements but instead asked his assistant to handle it.

Woodbury Financial Services Client Alleges That Adam Feierstein Sold Unsuitable Annuities

Evidently, in March 2019, a client of Woodbury Financial Services accused Adam Feierstein of sales practice violations. Specifically, Feierstein supposedly sold variable annuities that were not suitable for the client. It is possible that these products did not match up with their goals, liquidity needs, risk tolerance or other suitability criteria. Apparently, the client requested compensation; however, the securities firm denied this complaint.

Have You Experienced Losses From Feierstein?

Supposedly, Adam Feierstein denies allegations of his sales practice violations. Have you experienced losses by investing with this person? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have been wronged by their securities brokers or financial advisors.