The Financial Industry Regulatory Authority (FINRA) provides new information regarding securities broker Douglas Keith Ellman (CRD#: 1673088, Boca Raton, Florida). Namely, the securities broker, who worked for Shearson Financial Services beginning in June 2003, is involved in three investor disputes where investors allege sales practice violations. Because of this, you should take a look at the allegations against this broker and what you could do if you suffered damages.
Evidently, a client of Shearson Financial Services brought a dispute about Douglas Ellman in April 2020. This matter concerns investment losses on stock trades. Supposedly, Ellman caused the client to sustain losses on equities trades from February 2019 to November 2019. However, it appears that the client withdrew the complaint in June 2020.
Also, it appears that a Shearson Financial Services client brought a dispute about Douglas Ellman’s trading practices. Supposedly, between December 2010 and March 2015, Ellman made unauthorized trades. Allegedly, Ellman also mismanaged the client’s account. It appears that the client’s damages relate to agency mortgages. Evidently, Shearson Financial Services opted to settle this matter with the client by making a $14,999 payment in October 2015.
FINRA BrokerCheck also shows that a client of Shearson Financial Services complained about Douglas Ellman. Supposedly, Ellman caused the client to experience investment losses on unit investment trusts. The broker denies the client’s suitability claim and alleges that the client’s account grew at the company. Evidently, Shearson Financial Services denied this client’s complaint and request for compensation.
Securities broker Douglas Ellman denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? 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 compensation for many US clients who have experienced losses from their securities brokers and financial advisors.
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