Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 1, 2017 indicate that Florida and New York-based Cadaret Grant & Company broker/adviser Lee Rosenberg has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Rosenberg (CRD# 1010402).
Lee Rosenberg has spent 33 years in the securities industry and has been registered with Cadaret Grant & Company in Jericho, New York and Boca Raton, Florida since 1990. Previous registrations include Nathan & Lewis Securities; Home Life Equity Sales Corporation; and Home Life Insurance Company. He is a registered broker with 25 US states and territories.
According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.
In February 2017, a customer alleged Lee Rosenberg, while employed at Cadaret Grant & Company, recommended unsuitable investments in variable annuity and mutual fund products. The customer is seeking $250,000 in damages in the pending complaint.
In 2009, a customer alleged Lee Rosenberg, while employed at Cadaret Grant & Company, failed to follow instructions in connection to investments in mutual funds, unit investment trusts, and other products. The complaint settled for $450,000.
A unit investment trust, or UIT, is an entity that issues securities representing undivided interests in a fixed portfolio of securities. They are usually assembled by a sponsor into a portfolio, placed into a trust, and sold in a public offering. UITs are redeemable securities issued for a specified term, and investors are entitled to receive a proportionate share of the UIT’s net assets on redemption or at termination. A unit investment trust is typically offered in a one-time public offering of a set number of units, though UIT sponsors often create secondary markets in which individual UIT owners can sell those units back to their sponsors, thus extending the opportunity for new investors to buy UITs. Unit investment trusts involve expenses such as sales charges; creation and development fees; and operating expenses, typically charged against the UIT’s portfolio of assets. Sponsors generally offer discounts, including breakpoints, which let investors reduce fees by increasing the size of their investments, as well as discounts on rollovers and exchanges. Brokers and investment advisers who engage in misconduct related to unit investment trusts may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Lee Rosenberg, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.