Advisor Alert: Our Attorneys Are Investigating Shimshon Plotkin For Investment Fraud
Did You Lose Money Because of Shimshon Plotkin?
Filed: March 13, 2024
Shimshon Plotkin (also known as Shim Plotkin) currently has two (2) pending customer complaints. Overall, he has been the subject of eleven (11) 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 Shimshon Plotkin.
Who Is Shimshon Plotkin of Plotkin Financial Advisors, LLC and Independent Financial Group, LLC?
- Advisor Name: Shimshon Plotkin
- Aliases: Shim Plotkin
- CRD: 2431863
- Location: Chevy Chase, Maryland
- Current Employer: Plotkin Financial Advisors, LLC and Independent Financial Group, LLC
- Previous Firms: Pacific West Securities, Inc., Cambridge Investment Research, Inc., and Royal Alliance Associates, Inc.
- Number of Known Customer Complaints: 11
- Can Shimshon Plotkin Be Sued: Yes, in Private Arbitration
- Can Shimshon Plotkin’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,000,000
- Highest Settlement: $250,000
If you have suffered investment losses by Shimshon Plotkin, 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 Shimshon Plotkin For Broker Misconduct
As of this publication date, Shimshon Plotkin has been the subject of 11 customer disputes. Let’s review them below.
In September 2023, a FINRA arbitration was filed against or in reference to Shimshon Plotkin by a customer of Independent Financial Group, LLC alleging that the one investment that did not perform as expected was unsuitable. Per the customer, he lost over $280,000 because of Mr. Plotkin’s actions. As of this publication date, this claim remains pending.
In January 2023, a FINRA arbitration was filed against or in reference to Shimshon Plotkin by a customer of Independent Financial Group, LLC alleging that certain investments were not suitable. Beneficiary of the estate is making a posthumous (account holder died in 2019). Per the customer, he/she lost over $300,000 because of Mr. Plotkin’s actions. As of this publication date, this claim remains pending.
In June 2021, a FINRA arbitration was filed against or in reference to Shimshon Plotkin by a customer of Independent Financial Group, LLC alleging that investments were not suitable. Per the customer, he/she lost over $5,001 because of Mr. Plotkin’s actions. On June 7, 2023, Mr. Plotkin settled the claim for $45,000, and some or all of this amount may have been paid by Mr. Plotkin’s employer and/or insurance carrier.
In June 2019, a FINRA arbitration was filed against or in reference to Shimshon Plotkin by a customer of Independent Financial Group, LLC alleging over-concentration in alternative investments and lack of diversification. Per the customer, he/she lost over $500,000 because of Mr. Plotkin’s actions. On July 16, 2021, Mr. Plotkin settled the claim for $145,000, and some or all of this amount may have been paid by Mr. Plotkin’s employer and/or insurance carrier.
In June 2016, a FINRA arbitration was filed against or in reference to Shimshon Plotkin by a customer of Pacific West Securities and Independent Financial Group, LLC alleging negligence; misrepresentations; breach of contract; breach of fiduciary duty; unsuitable investments in connection with REITs and direct participation programs purchased through 2 broker-dealers from approximately 2007-2014. Per the customer, he/she lost over $1,000,000 because of Mr. Plotkin’s actions. On February 12, 2018, Mr. Plotkin settled the claim for $250,000, and some or all of this amount may have been paid by Mr. Plotkin’s employer and/or insurance carrier.
In January 2016, a complaint was filed against or in reference to Shimshon Plotkin by a customer of Pac West Securities alleging mismanagement, non-disclosure, breach of fiduciary duty and conflict of interest in connection with investments purchased in 2008.
In May 2005, a NASD arbitration was filed against or in reference to Shimshon Plotkin by a customer of Royal Alliance Associates, Inc. alleging unsuitable mutual fund portfolio from 2000 to July 2002. Per the customer, he/she lost over $142,388 because of Mr. Plotkin’s actions. On June 9, 2006, Mr. Plotkin settled the claim for $70,000, and some or all of this amount may have been paid by Mr. Plotkin’s employer and/or insurance carrier.
In July 2003, a complaint was filed against or in reference to Shimshon Plotkin by a customer of Royal Alliance Associates, Inc. alleging misrepresentation and unsuitable recommendations. Per the customer, he/she lost over $90,000 because of Mr. Plotkin’s actions.
In October 2002, a NASD arbitration was filed against or in reference to Shimshon Plotkin by a customer of Royal Alliance Associates, Inc. alleging unsuitable investments and breach of fiduciary duty. Per the customer, he/she lost over $586,189 because of Mr. Plotkin’s actions. An arbitration panel found that Shimshon Plotkin was negligent and awarded $25,000 in favor of the customers.
In January 2002, a NASD arbitration was filed against or in reference to Shimshon Plotkin by a customer of Royal Alliance Associates, Inc. alleging misrepresentation, negligence, unsuitability for purchase of variable annuity in 1995 and IRA rollover in 2000. Per the customer, he/she lost over $411,404 because of Mr. Plotkin’s actions. An arbitration panel found that Shimshon Plotkin was negligent and awarded $55,391.08 in favor of the customers.
In November 2001, a complaint was filed against or in reference to Shimshon Plotkin by a customer of Royal Alliance Associates, Inc. alleging that the portfolio consisted of too high a concentration of technology growth securities instead of a portfolio with an objective of growth and stability of principal. Per the customer, he/she lost over $5,000 because of Mr. Plotkin’s actions.
How To File A Claim Against Shimshon Plotkin of Plotkin Financial Advisors, LLC and Independent Financial Group, LLC (previously with Pacific West Securities, Inc., Cambridge Investment Research, Inc., and Royal Alliance Associates, Inc.) To Get Your Money Back
If you have questions about Shimshon Plotkin, Plotkin Financial Advisors, LLC, Independent Financial Group, LLC, Pacific West Securities, Inc., Cambridge Investment Research, Inc., Royal Alliance Associates, Inc., 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.