Soreide Law Group, based in Pompano Beach, Florida, was recently contacted a client who was unhappy with the performance of the investments recommended by Aegis Capital Corporation of Boca Raton, broker:


Alan Appelbaum was previously registered with Herbert J. Sims & Company, Inc. of Boca Raton.

According to Alan Appelbaum’s BrokerCheck report, which is available to the public on FINRA’s website, Appelbaum has 14 Disclosures on his report.  Of the 14 disclosures, 3 are regulatory, and 11 are customer disputes.  FINRA conducted a review of the CRD’s of all 663,000 registered representatives, only 2,751 (.41%) had been the subject of 3 or more customer complaints. Appelbaum’s customer disputes rank him in the top one-hundredth percent of all registered representatives for customer complaints. 

The following are examples of some of Alan Appelbaum’s customer disputes that have settled:

In October of 2001, following allegations of, “Clients expressed dissatisfaction with the recommendation of various municipal bonds made by AE Alan Appelbaum. No damages were specified.” The settlement amount was, $75,000.00.

In May of 2002, the allegations were, “Client expressed dissatisfaction with the recommendation of various municipal bonds made by Mr. Appelbaum.” The settlement amount was, $15,000.00.

In December of 2003, the allegations were, “Customer alleges negligence, breach of fiduciary duty and improper management and monitoring of his account.” The settlement amount was, $42,500.00.

In March of 2006, following allegations of, “Customer feels brokers mark-up on bonds were excessive. Improper conduct.” The settlement amount was, $250,000.00.

In August of 2014, the allegations were, “Client alleges breach of fiduciary duty, a failure to supervise, negligence, fraud, breach of contract and violation of NASD and FINRA rules.”  The settlement amount was, $25,000.00.

In December of 2015, the allegations were, “Allegations include failure to recognize claimants change in circumstances and desire to pursue a low risk conservative strategy, unsuitable trading in proprietary investments and structured products between the years of 2012 and 2014.”  The settlement amount was, $20,000.00.

Alan Appelbaum has 43 years of experience in the securities industry and has been listed with 7 firms.  He is currently listed with the following firm since 7/8/2015:




Alan Appelbaum was also listed with:

06/05/2002 – 07/06/2015  HERBERT J. SIMS & CO. INC. – BOCA RATON, FL 

If you’ve also experienced investment losses due to the recommendations of former Herbert J. Sims & Co., and currently with Aegis Capital, both of Boca Raton, Florida, broker, Alan Appelbaum, contact Soreide Law Group conveniently based in Pompano Beach, Florida, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group represents clients nationally before FINRA on a contingency fee basis.