Broker Investigation: Robert Ginsberg

Robert Ginsberg (CRD#: 5177531) is a registered broker and investment advisor with Woodbury Financial Services, Inc. (Woodbury) in Wallingford, CT. Ginsberg has been with Woodbury since 2016. He was previously employed by Investors Capital Corp. between 2008 and 2016.

Customer Complaint: $1M in Losses

According to his CRD report, Ginsberg has recently come under scrutiny for two 2017 customer disputes regarding “suitability” and “suitability of investments in REITs.” One client is seeking damages in the amount of $1 million for alleged losses suffered from Ginsberg’s recommendation of the unsuitable REIT investments. Both complaints are still pending.

Because Ginsberg was employed by Woodbury at the time of the complaint, the firm may also be liable for losses sustained by his customers. FINRA rules require member firms to supervise broker activity while they are registered with the firm. If Woodbury is found to be lacking in their supervisory role, the may be liable as well.

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