Shimshon Plotkin, of Chevy Chase, Maryland, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Plotkin effected unsuitable transactions in the customer’s account, breached his fiduciary and contractual duties to the customer, engaged in negligent activities concerning the customer’s investment portfolio, and made misrepresentations to the customer in reference to direct participation programs and real estate investment trust transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Plotkin has been identified in six additional customer initiated investment related disputes containing allegations of Plotkin’s misconduct while employed with Royal Alliance Associates, Inc., Pacific West Securities. Specifically, on November 16, 2001, a customer filed an investment related written complaint involving Plotkin’s conduct, where the customer requested $5,000.00 in damages based upon allegations that Plotkin overconcentrated the customer’s assets in technology stocks.
Subsequently, on May 14, 2003, a customer was awarded $55,391.08 in damages according to an investment related arbitration claim concerning Plotkin’s activities, based upon allegations of unsuitability, negligence and misrepresentation in reference to the customer’s variable annuity purchase effected via a rollover from the customer’s individual retirement account. Further, on November 5, 2004, another a customer was awarded $25,000.00 in damages according to an investment related arbitration claim involving Plotkin’s conduct, based upon allegations that Plotkin breached his fiduciary duties and effected unsuitable mutual fund transactions in the customer’s account.
Moreover, on January 14, 2016, a customer filed an investment related written complaint regarding Plotkin’s activities, based upon allegations that Plotkin breached his fiduciary obligations to the customer, omitted investment related information from the customer, and mishandled the customer’s investments in direct participation programs and unit investment trust investments.
Guiliano Law Group
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