Background Of Brentwood Financial Advisors (Founder’s CRD: 2282699)
Goldstein entered the securities industry in 1992 as a general securities representative.
Over his 28 years in the industry, Goldstein has been associated with six FINRA member
firms. In April 2010, Goldstein associated with McNally Financial Services Corporation
(MFS) and registered with FINRA as a general securities representative. On February 28,
2020, MFS filed a Form U5 terminating Goldstein’s association with the firm and
registration with FINRA. Although Goldstein is not currently registered with FINRA or
associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction
pursuant to Article V, Section 4(a) of FINRA’s By-Laws, which provides for a two-year
period of retained jurisdiction over formerly registered persons.
Respondent does not have any relevant disciplinary history.
Activity(s) Reported – Brentwood Financial Advisors
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a…person
associated with a member, or any other person subject to FINRA’s jurisdiction, to
provide information orally, in writing, or electronically…and to testify at a location
specified by FINRA staff…with respect to any matter involved in [a FINRAJ
investigation.” FINRA Rule 8210(c) states that “[n]o…person shall fail to provide
information or testimony…pursuant to this Rule.” A violation of F1NRA Rule 8210 is
also a violation of FINRA Rule 2010, which requires associated persons, in the conduct
of their business, to “observe high standards of commercial honOr and just and equitable
principles of trade.”
On October 30, 2020, in connection with an investigation into whether Goldstein engaged
in unsuitable excessive trading in a customer’s account, FINRA staff sent Goldstein a
written request for on-the-record testimony, pursuant to FINRA Rule 8210. As stated
during a phone call with FINRA staff on November 2, 2020, anc1lin an email to FINRA
staff on November 2, 2020, and by this agreement, Respondent acknowledges that he
received FINRA’s request and will not appear for on-the-record testimony at any time.
By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule
8210, Respondent violated FINRA Rules 8210 and 2010.
Can you expose the broker trying to trick you?
FINRA offers the free web tool BrokerCheck, which allows users to check a broker’s credentials, registration, and employment history. The disclosure part of BrokerCheck includes information on client conflicts, disciplinary proceedings, and specific financial and legal issues on the broker’s record.
Penalties And Sanctions
A bar from association with any FINRA member in any capacity.
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is defined
in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of the
Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Recent Activity(s)Of The Individual/Firm
In connection with FINRA’s investigation regarding whether Goldstein engaged in
unsuitable excessive trading in a customer’s account, FINRA staff issued Goldstein a
request for on-the-record testimony pursuant to FINRA Rule 8210. Goldstein refused to
appear for on-the-record testimony.
As a result, Goldstein violated FINRA Rules 8210 and 2010.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Brentwood Financial Advisors
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Brentwood Financial Advisors. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Similar Report: Ryan Tarjanyi
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
