Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures concerning securities broker Robert Nelson Rasbach [CRD: 1204704, Westport, Connecticut]. Rasbach worked for David Lerner Associates Inc. from April 7, 2000, to February 22, 2021. He then worked at Benchmark Investments LLC from February 17, 2021, to May 19, 2023. Evidently, he joined Kingswood Capital Partners LLC on May 19, 2023. Evidently, client disputes have emerged regarding Rasbach’s activities, including allegations of misrepresentation and unsuitable recommendations. Keep reading to learn more about these allegations and their potential impact.
Evidently, Rasbach was involved in FINRA Arbitration No. 22-00475, settled on February 14, 2024. A client accused him of making unsuitable recommendations, breaching fiduciary duties, and misrepresenting material facts related to Energy 11 and Energy Resources 12 products. David Lerner Associates settled the case by compensating the client with $239,036.
On September 20, 2023, a client of David Lerner Associates filed FINRA Arbitration No. 23-02548, alleging that Robert Rasbach made unsuitable recommendations and misrepresentations with regard to the sale of Energy 11 and Energy 12 products. The client asked for $500,000 in damages, claiming that these actions caused financial harm. This matter is currently pending a resolution.
On April 24, 2018, another client of David Lerner Associates made a complaint about Rasbach, seeking $14,820 in damages. The client alleged that Rasbach made unsuitable recommendations involving mutual funds. The brokerage firm denied the complaint, and no compensation was awarded.
FINRA BrokerCheck also reveals a client complaint filed on April 26, 2012, involving Rasbach’s conduct. The client alleged that Rasbach misrepresented material facts regarding real estate securities while associated with David Lerner Associates Inc. However, the complaint was closed without any further action by the client.
Contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney for more information. Rasbach and the firms he worked for deny committing any sales practice violations. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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