Mark Kaplan, Former Financial Advisor At Vanderbilt Securities, LLC in Woodbury, NY, Barred From Associating With Any FINRA Brokerage Firm
The Wolper Law Firm is currently investigating claims against former Vanderbilt Securities, LLC Financial Advisor, Mark Kaplan, of Woodbury, NY. According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), effective March 2018, Mark Kaplan was barred from associating with any FINRA member brokerage firm. Effectively, this means that Mark Kaplan is unable to work as a registered Financial Advisor.
This disciplinary action was prompted by an allegation that Mark Kaplan engaged in unauthorized trading in unsuitable securities in an account held by a senior investor with dementia. It is alleged that Mark Kaplan effected more than 3,500 transactions in the customer’s accounts, generating losses of more than $700,000, and more than $700,000 in commissions. A customer complaint was subsequently filed and a settlement of more than $400,000 was reached with the client.
Mark Kaplan has numerous reported customer complaints, including but not limited to, the following:
- 2018—Pending customer complaint for $100,000
- 2016—Customer complaint settled for $240,000
- 2016—Customer complaint settled for $500,000
- 2015—Customer complaint settled for $470,000
The allegations that formed the basis of the aforementioned settled customer complaints relate to, among other things, unsuitable investment recommendations.
If you or someone you know has been victimized by Mark Kaplan or Vanderbilt Securities, LLC., please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.