Heath Grossman Facing Suitability Disputes

Investors File Disputes About Heath Grossman (Silver Oaks Securities, JB Capital)

Soreide Law Group provides you with an important update regarding Heath Geoffrey Grossman (CRD#: 4018002, Wethersfield, Connecticut). Evidently, Grossman worked as a securities broker with Silver Oak Securities (July 2012 to April 2017), and is a financial advisor with JB Capital as of April 2014. Notably, FINRA BrokerCheck shows that he is facing several client disputes concerning allegations of unsuitable transactions, omissions of tax consequences, and failure to conduct due diligence. Here’s more on the allegations that clients made against Grossman.

JB Capital Client Alleges Heath Grossman Overlooked Tax Consequences Arising Out Of Asset Sale

Notably, in a dispute dating back to August 24, 2021, the JB Capital client makes accusations of Heath Grossman initiating an investment plan that did not account for the client’s tax liability. Supposedly, the securities broker caused a serious tax consequence to the client. For this reason, they asked for $30,000 in compensation in this ongoing matter.

Client Dispute Alleges Silver Oak’s Failure To Supervise

Evidently, in a Silver Oak Securities client’s complaint dated November 24, 2020, a client alleged that the investment firm failed to supervise its employees, violated suitability rules, and failed to conduct adequate due diligence. It appears that the client sustained losses on alternative investments including non-traded REITs that Heath Grossman sold. For this reason, they asked for $80,000 in compensation to resolve this matter.

Client Accuses Heath Grossman Of Not Disclosing Difference In Mutual Fund Fees

Further, on August 24, 2018, a client accused Heath Grossman of not disclosing the difference in fees as a result of changing from class A to class F mutual fund shares. However, this matter closed without resolution.

Grossman Accused Of Recommending Unsuitable REITs, Not Disclosing Fees

Also, a Silver Oak Securities client complained about Heath Grossman on December 28, 2016. Specifically, the client alleges that Grossman recommended four unsuitable non-traded REITs. Additionally, the client alleged that they never received a prospectus. Supposedly, Grossman recommended fixed annuities in companies with B ratings as opposed to A or better ratings. Lastly, the client complains that the securities broker did not apprise them on the fees pertaining to advisory accounts. Evidently, on May 23, 2019, Silver Oaks Securities settled the complaint by paying $49,306 to the client.

Losses Through Heath Grossman?

Did you suffer losses because of Heath Grossman? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for hundreds of United States investors who have incurred losses because of their financial advisors and securities brokers. Please note that Grossman denies all allegations of his sales practice violations.