Court Room

Harold Alan Schwartz (also known as Hal Schwartz) of Lutz Florida a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related written complaint on January 27, 2020 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that the customer was placed into a unsuitable investment strategy which involved exchanged traded fund and stock transactions being effected by Schwartz during the time that he was associated with Royal Alliance Associates Inc.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Schwartz has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while employed by Leaders Group. Schwartz is the subject of a customer initiated investment related arbitration claim which was settled for $118,223.13 in damages based upon allegations that the customer had been inappropriately placed into a variable universal life insurance policy by Schwartz during the time that the stockbroker was associated with Leaders Group.

On November 19, 2018, another customer initiated investment related arbitration claim concerning Schwartz’s activities was resolved for $100,000.00 in damages founded on accusations that the Leaders Group customer was provided with misleading information by Schwartz in regard to the guarantees on an annuity. FINRA Arbitration No. 18-02946. According to the claim, the customer was led by Schwartz to believe that the customer’s principal investment in an annuity would double in ten years when it was only the income base of the annuity which doubled.

FINRA Public Disclosure also indicates that Schwartz has been fined $5,000.00 and suspended from associating with any FINRA member in any capacity based on the stockbroker’s consent to findings that he engaged in unauthorized activities. Letter of Acceptance Waiver and Consent No. 2019061715601 (Nov. 21, 2019).

Schwartz was terminated from Royal Alliance Associates on February 1, 2019 based upon accusations of him failing to comply with proper communication protocols. He has been registered with DMK Advisor Group Inc. since February 7, 2019.