Philip Martin Hanover of Melville New York is a stockbroker formerly registered with Oppenheimer and Co. Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought one million one hundred eight thousand one hundred fifty-six dollars in damages based upon allegations of (1) churning (2) suitability and (3) breach of fiduciary duty in regard to master limited partnership and equities transactions effected in the customer’s account between 2010 and 2015. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02978 (Nov. 10 2017).

FINRA Public Disclosure additionally confirms that on April 27, 1999, a customer initiated investment related written complaint pertaining to Hanover’s conduct was settled for $12,000.00 in damages supported by accusations that an account was established without the customer’s permission and that purchases had been made in the customer’s account that the customer never authorized. Moreover, the customer alleged that the customer’s conservative objectives had been communicated to Hanover; however, the customer’s assets were placed into investments which poorly performed.

Hanover’s registration with Oppenheimer & Co. Inc. was terminated on March 6, 2015. He was later associated with Vanderbilt Securities, LLC between March 9, 2015 and December 16, 2016.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)