Joseph Edward Faherty of Old Tappan, NJ, a stockbroker registered with Royal Alliance Associates Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that Faherty made unsuitable invstment recommendations of Business Development Companies or “BDCs” during the time that Faherty was associated with Royal Alliance Associates Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00636 (March 9, 2021).
This is not the first time that Faherty has been referenced in a customer initiated investment related dispute concerning Faherty’s conduct in the securities industry. FINRA Public Disclosure shows that Faherty was also referenced in a complaint filed on July 28, 2016, in which the customer requested $800,000.00 in damages based upon allegations that Faherty mismanaged investment accounts containing real estate securities holdings when Faherty was associated with Royal Alliance Associates Inc.
Faherty was associated with Royal Alliance Associates Inc. in Old Tappan, NJ, as a stockbroker from March of 2005 to December of 2021, and associated with Royal Alliance Associates Inc. in Jersey City, NJ, as an investment advisor representative from April of 2005 to December of 2021.
Faherty has been associated with LPL Financial LLC in Tappan, NJ, as a stockbroker since December 15, 2021, and associated with LPL Financial LLC as an investment advisor representative since December 21, 2021.
