Gary David Ginsberg of West Orange, New Jersey, a stockbroker formerly registered with Royal Alliance Associates Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $65,000.00 in damages based upon allegations that Ginsberg made unsuitable alternative investment recommendations while associated with Royal Alliance. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02947 (September 16, 2021). According to the claim, Royal Alliance failed to conduct reasonable due diligence on a a real estate investment trust before the recommending it to the customer.
FINRA Public Disclosure shows that Ginsberg has been identified in three more customer initiated investment related disputes containing allegations of his conduct while employed by Royal Alliance Associates. Ginsberg is identified in a customer initiated investment related FINRA securities arbitration claim which was resolved for $30,000.00 in damages founded on allegations of a unsuitable variable annuity recommendations by Ginsberg when he was registered with Royal Alliance Associates.
On January 15, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Ginsberg’s activities was settled for $12,500.00 in damages supported by accusations of Ginsberg causing the customer to face unreasonable risks by investing in a real estate investmnet trust. FINRA Arbitration No. 19-01394.
Ginsberg is also referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought damages based upon the allegation that Ginsberg made unsuitable recmmendations in connection with the sale of non-traded real estate investment trusts while Ginsberg was associated with Royal Alliance Associates.
Ginsberg’s stockbroker and investment adviser representative registrations with Royal Alliance Associates were terminated on June 19, 2020. Since June 17, 2020, Ginsberg has been registered with Ameriprise Financial Services.