Mitchell Silverman Focus Of Raymond James Investor Disputes

Securities Broker Mitchell Silverman Facing Disputes From Raymond James Clients

Soreide Law Group has new information to share with you in regard to securities broker Mitchell Louis Silverman (CRD#: 500504, Boca Raton, Florida). Notably, the Financial Industry Regulatory Authority (FINRA) shows that six investors filed investment disputes about the securities broker, who worked for securities firm JB Hanauer before joining Raymond James Associates as securities broker and financial advisor in 2002. Let’s take a closer look at the allegations that clients made about him, and what you could do if you experienced losses.

Raymond James Associates Client Alleges Unsuitable Stock Transactions By Mitchell Silverman

Evidently, a client of Raymond James Associates brought a dispute about Mitchell Silverman in October 2019. Mainly, the client alleged that Silverman made unsuitable trades. It is possible that the client’s suitability profile did not match up with the manner in which the account was traded. Supposedly, because of Silverman, the client incurred losses on stock trades. However, Raymond James Associates denied this client’s dispute in March 2020.

Client Of Raymond James Alleges Breach Of Fiduciary Duty In Dispute About Silverman

Notably, a client of Raymond James Associates disputed Mitchell Silverman’s sales practices. In this May 2018 FINRA Arbitration Claim, the client first alleged that Silverman breached a fiduciary duty to them on sector concentration and equities investments. Secondly, the broker is accused of negligence. Thirdly, the client alleges that Raymond James acted in breach of contract and violated conduct rules. For this reason, the client supposedly experienced damages from September 2004 to April 2018. It appears that Raymond James Associates settled this matter through paying the client $10,000 in July 2018.

Mitchell Silverman Accused Of Poor Recommendations To Raymond James Associates Client

In a prior dispute on Mitchell Silverman’s BrokerCheck record, a client of Raymond James Associates alleged unsuitable recommendations. It seems that Silverman invested the client in municipal debt products. Those trades seemingly conflicted with the client’s investment profile and poorly performed. For this reason, the client sought compensation. However, Raymond James denied this dispute.

Prior Disputes Contain Allegations Of Failure To Supervise

In the first three disputes on Mitchell Silverman’s BrokerCheck record, clients collectively allege failure to supervise. These disputes come from at least two JB Hanauer clients. It seems that they possibly incurred losses on bad limited partnership investments. One of those clients who alleged churning and misrepresentation received $500,000 in the settlement of their dispute although the investor reportedly withdrew claims against Silverman prior to the settlement.

Did You Sustain Damages By Investing Through Mitchell Silverman?

Did Mitchell Silverman cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled 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 millions of dollars for investors who incurred losses because of their financial advisors and securities brokers. Please note that Silverman denies all allegations of his sales practice violations.