Scott Goldman from Arlington Heights, Illinois Suspended by FINRA
Have you lost money with financial advisor Scott Goldman from Arlington Heights, Illinois? We are currently investigating allegations made against Scott M. Goldman, who previously worked with LPL Financial and H. Beck. FINRA (the Financial Industry Regulatory Authority) brought a regulatory action against Goldman, alleging that he recommended an unsuitable investment strategy to a customer to invest in risky precious metal funds.
Our attorneys have previously represented customers who lost money investing in precious metal funds with Scott Goldman. The claim filed by our attorney alleged that Goldman recommended that his customers invest in leveraged mutual funds that had precious metal holdings.
FINRA’s allegations are similar to those made previously by our attorneys. FINRA alleged that Goldman recommended that his customer invest $135,000 in leveraged precious metal funds within a variable annuity and outside of the annuity. FINRA alleged that these investments in precious metal funds were unsuitable in light of the customer’s financial situation and needs. To settle these allegations, Goldman agreed to a twenty-day suspension and a $10,000 fine.
Scott Goldman was a registered representative and financial advisor of LPL Financial from September 2009 to December 2009. He was also affiliated with H. Beck from January 2010 to May 2016; and with Cambridge Investment Research from May 2016 to the present. He worked at branch offices in Arlington Heights, Illinois. According to Goldman’s BrokerCheck report, he has been the subject of at least six customer complaints. He also operates companies called Champion Advisory Services and Planning Dynamics, Inc.
Broker-dealers like World Equity Group have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, such as to refrain from excessively trading a customer’s account. When broker-dealers 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 Chicago; Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration in all 50 states, including over 150 investors in the past from throughout the Chicagoland area, Northern Illinois, and Central Illinois.
We have an office in Chicago, Illinois to better service investors in Chicago and the surrounding suburbs. Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in Addison. He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb, Illinois. Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington. He also previously lived in the Ravenswood neighborhood on the north side of Chicago.
Click to view: Goldman, Scott FINRA AWC
Click to view: Goldman, Scott BrokerCheck 12.20.16
IF YOU LOST MONEY WITH SCOTT GOLDMAN, LPL FINANCIAL, H. BECK, OR CHAMPION ADVISORY SERVICES, PLEASE CONTACT ISRAELS & NEUMAN AT (720) 599-3505 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.