Gary Ginsberg, Formerly of Royal Alliance Associates, Facing Customer Dispute Involving Alternative Investment Losses

The client alleged that the due diligence review performed on an alternative investment was unreasonable.

The Sonn Law Group is investigating allegations that Gary Ginsberg committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Gary Ginsberg (CRD#: 1175258) is currently registered as a broker and investment adviser with Ameriprise Financial Services in West Orange, NJ, where he has been employed since June 2020. Previously, Ginsberg was registered as a broker and investment adviser with Royal Alliance Associates from 1992 until June 2020. 

Ginsberg has five disclosures on his BrokerCheck report.

September 2020 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges Royal Alliance’s due diligent review of an alternative investment was unreasonable
• Damage Amount Requested: $100,000.00

August 2020 Customer Dispute

• Status: Denied
• Allegations: Client alleges that the purchase of a non-traded REIT was unsuitable.
• Damage Amount Requested: $5,000.00

January 2012 Customer Dispute

• Status: Settled
• Allegations: Customer alleges that he requested that a beneficiary IRA account be opened in connection with the purchase of a variable annuity, but that a traditional IRA was opened instead and that this allegedly caused an increased tax liability.
• Damage Amount Requested: $40,000.00
• Settlement Amount: $30,000.00
• Broker Comment: The matter was settled as a business decision to avoid the costs associated with protracted litigation.

December 2010 Regulatory Judgment

• Status: Final
• Initiated By: State of New York Insurance Department
• Allegations: State of New York Insurance Department conducted investigations in the sale of annjuity contracts in NY by company not authorized to sell products in NY. Further, State investigated whether I knowingly submitted applications purportedly signed in NJ that I knew were signed in NY.
• Resolution: Stipulation and Consent
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $20,600.00

Contact Us Today

The Sonn Law Group is currently investigating allegations that Gary Ginsberg committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.