Adam S. Feierstein of Redondo Beach, California, a stockbroker registered with Concourse Financial Group Securities Inc. (FKA ProEquities), is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $400,000.00 in damages based upon allegations that Feierstein made the unsuitable investment recommendation of variable annuities when Feierstein was associated with Concourse Financial Group Securities Inc. (ProEquities). Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01029 (May 16, 2022).
FINRA Public Disclosure shows that Feierstein is referenced in three other customer initiated investment related disputes concerning Feierstein’s conduct while associated with securities broker dealers, including Woodbury Financial Services Inc. On March 5, 2019, a customer filed an investment related complaint involving Feierstein’s conduct in which the customer requested compensation based upon allegations that Feierstein made unsuitable recommendations in connection with the sale of variable annuities.
On May 27, 2021, another customer filed an investment related complaint involving Feierstein’s conduct in which the customer requested compensation based upon allegations that Feierstein made misrepresentations of material fact in connection with the recommendation and sale of variable annuities.
Feierstein is also referenced in a FINRA securities arbitration claim in which the customer requested $50,000.00 in damages based upon allegations that Feierstein breached his fiduciary duties, committed fraud, was negligent, made misrepresentations of material fact, and made unsuitable recommendations of variable annuities. FINRA Arbitration No. 22-00629 (March 24, 2022).
On May 5, 2021, Feierstein was barred from associating with any FINRA member in any capacity because Feierstein failed to respond to FINRA’s request for information. Case No. 2020068495301. Public Disclosure shows that FINRA issued Feierstein a Notice of Suspension dated February 2, 2021, and a Suspension from Association letter dated February 26, 2021. The regulator automatically barred Feierstein following a three-month period in which Feierstein failed to comply with its request or otherwise request the termination of his suspension.
Feierstein was associated with ProEquities Inc. in Redondo Beach, California, as a stockbroker from December of 2018 to October of 2020, and was associated with Woodbury Financial Services Inc. in Redondo Beach, California, as a stockbroker from December of 2013 to December of 2018.
Feierstein was discharged by ProEquities Inc. on October 28, 2020, based upon allegations that Feierstein made unauthorized communications with customers regarding securities business.
