Advisor Alert: Our Attorneys Are Investigating Arthur Grossbard For Investment Fraud
Did You Lose Money Because of Arthur (Artie) Grossbard?
Filed: January 16, 2024
Arthur Grossbard (also known as Artie Grossbard) currently has one (1) pending customer complaint. Overall, he has been the subject of two (2) regulatory events and three (3) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Arthur Grossbard.
Who Is Arthur Grossbard of Ameriprise Financial Services, LLC?
- Advisor Name: Arthur Grossbard
- Aliases: Arthur Solomon Grossbard, Artie Grossbard
- CRD: 1020971
- Location: West Orange, New Jersey
- Current Employer: Ameriprise Financial Services, LLC
- Previous Firms: Royal Alliance Associates, Inc. and New Century Financial Group, LLC
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 2
- Can Arthur Grossbard Be Sued: Yes, in Private Arbitration
- Can Arthur Grossbard’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $250,000
- Highest Settlement: $65,000
If you have suffered investment losses by Arthur Grossbard, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Arthur (Artie) Grossbard For Broker Misconduct
As of this publication date, Arthur Grossbard has been the subject of 2 regulatory events and 3 customer disputes. Let’s review them below.
In March 2023, a FINRA arbitration was filed against or in reference to Arthur Grossbard by multiple customers of Royal Alliance Associates, Inc. alleging that Mr. Brossboard recommended an alternative investment that was unsuitable. Per the customers, they lost over $101,001 because of Mr. Grossbard’s actions. As of this publication date, this claim remains pending.
In November 2021, a FINRA arbitration was filed against or in reference to Arthur Grossbard by a customer of Royal Alliance Associates, Inc. alleging that Mr. Grossbard recommended an investment that was unsuitable. Per the customer, he/she lost over $250,000 because of Mr. Grossbard’s actions. On April 6, 2023, Mr. Grossbard settled the claim for $25,000, and some or all of this amount may have been paid by Mr. Grossbard’s employer and/or insurance carrier.
In April 2020, a FINRA arbitration was filed against or in reference to Arthur Grossbard by multiple customers of Royal Alliance Associates, Inc. alleging that two $50,000 private placement investments (in same fund but involving each individual claimant—claimants were sisters) were inappropriately recommended to the claimants. Per the customers, they lost over $100,000 because of Mr. Grossbard’s actions. On October 16, 2020, Mr. Grossbard settled the claim for $65,000, and some or all of this amount may have been paid by Mr. Grossbard’s employer and/or insurance carrier.
In August 1987, National Association of Securities Dealers, Inc. initiated a regulatory action against or in reference to Arthur Grossbard.
In November 1986, Vermont initiated a regulatory action against or in reference to Arthur Grossbard for violations against the company, including “switching” of long-held mutual funds, failure to meet “full-disclosure” and “know your client” standards under 9 v.s.a. sections 4221a(4) and 4224.
How To File A Claim Against Arthur (Artie) Grossbard of Ameriprise Financial Services, LLC (previously with Royal Alliance Associates, Inc. and New Century Financial Group, LLC) To Get Your Money Back
If you have questions about Arthur Grossbard, Ameriprise Financial Services, LLC, Royal Alliance Associates, Inc., New Century Financial Group, LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.