Harold Alan Schwartz of Lutz Florida a stockbroker formerly employed by Royal Alliance Associates Inc. has been terminated from the securities broker dealer on February 1, 2019 based upon allegations that Schwartz violated its procedures or policies through his unauthorized transactions pertaining to a customer’s investment account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Schwartz is referenced in two customer initiated investment related disputes containing accusations of his violative conduct while employed with Leaders Group. In particular, a customer initiated investment related civil action involving Schwartz’s conduct that was brought in the Comal County Texas District Court has been resolved for $118,223.13 in damages supported by allegations that the customer was sold a variable life insurance policy by Schwartz when the insurance contract failed to be suitable. Civil Action No. C2003-0024C.
Also, on November 19, 2018, a customer initiated investment related arbitration claim regarding Schwartz’s conduct was settled for $100,000.00 in damages founded on accusations that Schwartz falsely stated that the customer’s principal invested in a variable annuity would be worth twice as much in ten years, inducing the customer to purchase the policy during the time that Schwartz was employed by Leaders Group. FINRA Arbitration No. 18-02946.
Since February 7, 2019, Schwartz has been registered with Stephen A. Kohn Associates Ltd.
