Highlands Ranch, CO & Lakewood, CO
Howard Schwartz, formerly of Royal Alliance Associates, Subject of Missouri Complaint
Have you lost money with financial advisor Howard Schwartz or Hal Schwartz of Highlands Ranch, Colorado? We are looking into allegations made by the Missouri Securities Commission. Missouri alleged that Schwartz’s brokerage firm, DMK Advisor Group, failed to follow a heightened supervision plan over Schwartz. Schwartz was under a heightened supervision plan after he impersonated a customer over the phone, in which he was later suspended for two months from the securities industry. Missouri alleged that DMK Advisor Group failed to submit quarterly reports of the supervision plan.
Howard Schwartz also known as Hal Schwartz was a financial advisor and registered representative of Royal Alliance Associates from June 2015 to February 2019. He has been affiliated with DMK Advisor Group since February 2019. He worked at a branch office in Lakewood, Colorado. Schwartz was also “permitted to resign” by Royal Alliance, and he’s also been the subject of three customer complaints, including a complaint regarding the sales of ETFs.
Brokerage firms like Royal Alliance Associates have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Royal Alliance Associates.