Richard Shotz, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses | Richard Shotz, Financial Advisor Suspended from Securities Industry 

Richard Shotz was a formerly licensed financial advisor with Wells Fargo Clearing Services, LLC and Morgan Stanley. FINRA reports that Richard Shotz was suspended for 4 months in February 2018.

ACCORDING TO FINRA: Richard Shotz consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of short-term trading of unit investment trusts (UITs) in customer accounts. The findings stated that in connection with these 486 customer accounts, Richard Shotz repeatedly recommended that the customers purchase UITs and then sell these products well before their maturity dates. The majority of the UITs that Richard Shotz recommended had maturity dates of at least 24 months and carried sales charges ranging from 1.95% to 3.95%. Nevertheless, Richard Shotz continually recommended that his customers sell their UIT positions less than a year after purchase. Indeed, the average holding period for the UITs purchased in these customers' accounts was 143 days. In addition, on approximately 1,200 occasions, Richard Shotz recommended that his customers use the proceeds from the short-term sale of a UIT to purchase another UIT with identical investment objectives. Richard Shotz' recommendations caused the customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions.

If you lost money on investments with Richard Shotz and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Richard Shotz’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Richard Shotz and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.  

Juergen Weber was previously licensed with Benjamin & Jerold Brokerage I, LLC. FINRA reports that Juergen Weber was barred from the securities industry in September 2018.

According to FINRA: Juergen Weber consented to the sanction and to the entry of findings that Juergen Weber failed to appear and refused to provide on-the-record testimony requested by FINRA in connection with its investigation into allegations that he made unsuitable recommendations and executed unauthorized trades in a customer account.

If you lost money on investments with Juergen Weber and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Juergen Weber’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Juergen Weber and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.  

 

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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