Alan Appelbaum (CRD#: 500336) is a registered securities broker. Since 2015, Mr. Appelbaum has been associated with Aegis Capital Corp. at a branch office in Boca Raton, Florida.
Prior to that, this financial advisor was employed at Herbert J. Sims & Co. (2002 to 2015).
While at Herbert J. Sims & Co, Mr. Appelbaum faced several different complaints from investors. Among other things, customers alleged that Mr. Appelbaum recommended unsuitable structured products.
Below, we review the three most recent complaints filed against this broker.
Customer Complaints: Broker Alan Appelbaum
In August of 2014, Mr. Appelbaum settled an arbitration claim with a former customer for $25,000. Among other things, this investor raised allegations of breach of fiduciary duty and broker negligence.
In August of 2015, a client of this broker filed a complaint alleging unsuitable investment recommendations and excessive trading. As of May of 2019, this case is still listed as pending by FINRA. The investor is requesting $200,000 in damages.
In December of 2015, a customer filed a complaint alleging that, although he wanted to pursue a conservative and low-risk investment strategy, Mr. Applebaum instead put his money into complex and unsuitable structured products. This claim was eventually settled for $20,000 in damages.
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