Michael Rubel – Financial Advisor/Broker Suspended by FINRA | Recover Losses

Michael Rubel – Financial Advisor/Broker Suspended by FINRA | Goodman & Nekvasil, P.A. May Recover Investor Losses

Michael Rubel CRD #4935564

Michael Rubel is a licensed financial advisor with B Riley Wealth Management. Michael Rubel was a previously licensed financial advisor with Capitol Securities Management. FINRA reports that Michael Rubel will be suspended from the securities industry for 45 days in October 2020.

According to FINRA Allegations:

Rubel consented to the sanction 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 Rubel recommended that certain of his customers roll over UITs more than 100 days prior to maturity, on approximately 276 occasions. Indeed, although his customers’ UITs typically had a 24-month maturity period, Rubel recommended that they sell their UITs after holding them for, on average, only 244 days, and, in some instances, use the proceeds to purchase a new UIT. Of the approximately 276 early rollovers recommended by Rubel, 13 were series-to-series rollovers. In other words, on those 13 occasions, Rubel recommended that his customers roll over a UIT before its maturity date in order to purchase a subsequent series of the same UIT, which, as noted above, generally had the same or similar investment objectives and strategies as the prior series. Rubel’s recommendations caused his customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions.

Goodman & Nekvasil P.A. May Recover Investor Losses

If you lost money on investments with Michael Rubel 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 Michael Rubel’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 Michael Rubel 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.

Some of the information in this blog post was obtained on 9/3/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.

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