Neal Scott Allegedly Breaches His Fiduciary Duty

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, investors who have lost money in this fashion may be entitled to damages. The law firm of Oakes & Fosher is currently interested in hearing from investors who feel this may be them.

Oakes & Fosher is currently investigating the possible misconduct of securities broker Neal Scott. According to his publicly available FINRA BrokerCheck report, Neal Scott has been the subject of multiple customer disputes over the course of his career.

Neal Scott is currently operating as a New York-based securities broker. He has worked in the securities industry for thirty-seven years. During his career, he has been registered with twelve different securities firms.

His Registrations

• E.G. Frances Co. (1982-1984)


• Philips, Appel & Walden, Inc. (1984-1986)


• Emanuel and Company (1986-1993)


• First Asset Management, Inc. (1993-1998)


• Joseph Gunnar & Co. (1998-2001)


• U.S. Securities & Futures Corp. (2001-2002)


• J.P. Turner & Company (2002-2004)


• Westpark Capital (2004-2006)


• Bishop, Rosen & Co. (2005-2007)


• Euro Pacific Capital (2007-2015)


• Windsor Street Capital (2015-2018)


• Joseph Stone Capital (2018-Present)

The Allegations

• In April 1991, customers alleged that Neal Scott misrepresented material details. This case was settled for $84,099 in damages.


• In July 1997, a customer alleged that Neal Scott sold them unregistered securities. The customer also alleged misrepresentation, fraud, and unsuitability. This case was settled for $262,000 in damages.


• In September 2015, a customer alleged breach of fiduciary duty, breach of FINRA conduct, and breach of suitability rules. This case was settled for $8,000 in damages.

What Does This Mean?

The relationship between investors and securities brokers exists on a foundation of trust. The reason that investors can generally feel secure in trusting their broker is because they are aware that brokers are obligated to always act in their customers’ best financial interests. This obligation is also known as the broker’s fiduciary duty. Brokers who breach this duty work toward the erosion of that trust, which in turn can significantly damage the broker/investor relationship.

Oakes & Fosher can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Neal Scott, please contact Oakes & Fosher for a free and private consultation.