Mitchell Kurtz Allegedly Engages In Unauthorized Outside Business Activities

The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker Mitchell Kurtz. According to his publicly available FINRA BrokerCheck report, Mitchell Kurtz has been the subject of multiple disputes that include customer complaints, employment terminations, and a FINRA sanction.

Mitchell Kurtz was a New York based securities broker. He worked in the securities industry for twenty-four years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Advest, Inc. (1994-2006)


• Raymond James Financial Services (2006-2009)


• Henley & Company Wealth Management (2010-2018)

The Allegations

• In June 2003, a customer alleged that Mitchell Kurtz churned their account and recommended unsuitable securities. This case was settled for $400,000 in damages.


• In May 2009, a customer alleged that Mitchell Kurtz breached his fiduciary duty, breached contract, churned their account, executed unsuitable transactions, executed unauthorized transactions, made negligent and intentional misrepresentations, and engaged in fraud. This case was settled for $1.1 million.


• In December 2009, Mitchell Kurtz was discharged from his position at Raymond James Financial Services. This was due to a pending legal claim that involved large losses as well as an alleged failure to follow the firm's policy about altered documents.


• In April 2010, a customer alleged that Mitchell Kurtz breached his contractual duty, recommended unsuitable securities, made material misrepresentations, and breached his fiduciary duty. This case was settled for $35,000.


• In August 2012, Mitchell Kurtz was officially sanctioned by FINRA. This was in relation to his termination from Raymond James. The findings in the investigation concluded that he allegedly altered information on specific new account forms. Due to these allegations, he was fined $10,000 and suspended by FINRA from acting as a broker in any fashion for a period of forty-five days.


• In July of 2018, Mitchell Kurtz was terminated from his position at Henley & Company Wealth Management. It had been concluded that Mitchell Kurtz violated both FINRA and SEC rules and firm policies by engaging in outside business activities without permission. It was also alleged that he breached his fiduciary duty and violated professional standards and the firm's code of ethics.


• Mitchell Kurtz was barred by FINRA from acting as a securities broker in any fashion in December 2018, after allegedly failing to comply with their investigation into his alleged outside business activities.

What Does This Mean?

Securities brokers are not allowed to engage in outside business ventures without first obtaining their member firm's authorization. This is because outside business dealings can often create significant conflicts of interest for securities brokers. Often times they can have a financial stake in a private security that they then recommend to their member firm customers, or may be receiving cash kickbacks from other companies in exchange for recommending privately traded securities to their member firm customers. This can lead to stock brokers recommending privately traded investments to member firm customers that are woefully unsuited for them. It is the responsibility of the securities firm to prevent this type of thing from taking place. They must adequately monitor their registered brokers in order to be cognizant of all outside business activities taking place.

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 Mitchell Kurtz, 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.