The law firm of Oakes & Fosher is currently investigating the possible misconduct of securities broker Adam Moldof. According to his publicly available FINRA BrokerCheck report, Adam Moldof has been the subject of a customer dispute.

Adam Moldof is a Florida based securities broker. He has worked in the securities industry for twenty-two years. During his career, he has been registered with two different securities firms.

His Registrations

  • Prudential Securities (1995-2003)
  • Wells Fargo (2003-Present)

The Allegations

In August 2018, a customer alleged that Adam Moldof made unsuitable investment recommendations in 2015. This case was settled for $50,000 in damages.

What Does This Mean?

Securities brokers have a fiduciary duty to always act in the best financial interests of their customers. A major part of this means only recommending securities to customers that are suited for them. Securities brokers, like Adam Moldof, are expected to conduct the necessary due diligence required to determine an investor’s suitability based on factors like investment objectives, financial situation, liquidity needs, and risk tolerance. Because of this, brokers cannot excuse themselves by claiming they were unaware that an investment was unsuitable.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Adam Moldof, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.