The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Steven Roffman. According to his publicly available FINRA BrokerCheck report, Steven Roffman has been the subject of a customer dispute and an employment termination.

Steven Roffman is a New York based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with thirteen different securities firms.

His Registrations

  • Johnson, Lane, Space, Smith & Co. (1987-1988)
  • Interstate/Johnson Lane Corporation (1988-1990)
  • Lehman Brothers Inc. (1990-1993)
  • Dean Witter Reynolds (1993-1995)
  • Prudential Securities (1995-1999)
  • A.G. Edwards & Sons (1999-2001)
  • First Allied Securities (2001-2004)
  • North Coast Securities (2003-2008)
  • Morgan Keegan & Company (2008-2013)
  • Raymond James (2013-2015)
  • Ameriprise Financial Services (2015-2016)
  • IFS Securities (2016-2019)
  • Chelsea Financial Services (2019-Present)

The Allegations

  • In June 1998, a customer alleged that Steven Roffman executed an unauthorized and unsuitable annuity exchange. This case was settled for $12,000 in damages.
  • In April 2012, a customer alleged that Steven Roffman recommended unsuitable securities, executed unauthorized trades, churned their account, and recommended excessive IRA distributions that had unforseen tax consequences. This case was settled for $65,000 in damages.
  • In March 2016, Steven Roffman was discharged from his position at Ameriprise Financial Services following allegations that he engaged in unauthorized discretionary trading, solicited customers to invest in inverse and leveraged securities, and mismarked solicited orders as unsolicited.

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 Steven Roffman, please contact Oakes & Fosher for a free and private consultation.