The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Jeffrey Alan Fladell. According to his publicly available FINRA BrokerCheck report, Jeffrey Fladell had been the subject of multiple customer disputes over the course of his career. He is no longer working as a securities broker in any fashion.

Jeffrey Fladell was a New Jersey-based securities broker who had worked in the securities industry for fourty-five years. During his career, he had been registered with seven different securities firms.

His Registrations 

  • Bernard Schnitzer (1970-1974)
  • Hermes Securities (1971-1975)
  • Travelers Equities Sales (1972-1984)
  • Swanton Securities (1976-1979)
  • Halpert and Company (1979-1988)
  • J.B. Hanauer & Co. (1988-1993) / (1995-2005)
  • RBC Capital Markets (2009-2017)

The Allegations 

  • In October 2013, a customer alleged that Jeffrey Fladell had recommended unsuitable investments and over-concentrated investments in municipal bonds. This case was settled for $265,000 in damages.
  • In June 2014, a customer alleged that Fladell had recommended unsuitable investments and over-concentrated investments in municipal bonds. This case was settled for $75,000 in damages.
  • In September 2015, a customer alleged that Fladell had recommended unsuitable investments and over-concentrated investments in municipal bonds. The customer further alleged that Fladell had excessively traded in their account. This case was settled for $500,000 in damages.
  • In December 2015, a customer alleged that Fladell had made unsuitable recommendations of Puerto Rico bonds. This case was settled for $295,000 in damages.
  • In April 2016, a customer alleged that Fladell had made unsuitable recommendations of Puerto Rico bonds. This case was settled for $1,400,000 in damages.
  • In June 2017, a customer alleged that Fladell had recommended unsuitable investments and over-concentrated investments in municipal bonds. This case was settled for $115,000 in damages.
  • In November 2017, a customer alleged that Fladell had recommended unsuitable investments and over-concentrated investments in municipal bonds. This case was settled for $750,000 in damages.
  • In March 2019, a customer alleged that Fladell had made unsuitable recommendations of Puerto Rico bonds. This case was settled for $445,000 in damages.
  • In March 2021, FINRA officially sanctioned Fladell following allegations that he made unsuitable recommendations to a customer, a senior over 100 years old, which resulted in her extreme overconcentration in high-yield municipal bonds. As a result of these findings, Fladell was suspended from acting as a securities broker in all capacities for a period of three months and fined $5,000.

What Does This Mean?

Less than scrupulous securities brokers may often target more vulnerable individuals when perpetrating their financial misdeeds. This includes the elderly population. These individuals often rely heavily on their securities broker to handle their accounts in a fashion suitable for them. Securities brokers like Shane Appelbaum may take advantage of this trust and use the opportunity to manage their elderly client’s account in a way that is beneficial to them (the broker) but detrimental to the customer. This is also known as financial elder abuse and is a real problem for many investors.

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 due to this fraud or negligence 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 Jeffrey Fladell, 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.