Shimshon Plotkin, or Shim Plotkin, of Chevy Chase, MD, Allegedly Over-Concentrated Clients in Alternative Investments which Purportedly Lacked Diversity
Shimshon Plotkin, or Shim Plotkin, allegedly over-concentrated clients in alternative investments which lacked diversity, according to a Pending Customer Complaint under review by investor rights attorney Alan Rosca.
Investor rights attorney Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Shimshon Plotkin’s alleged over-concentration of client funds in alternative investments and a lack of portfolio diversity. Investors who believe they may have lost money in activity related to unsuitability and misrepresentations in connection with Shimshon Plotkin’s alleged over-concentration of client funds in alternative investments and a lack of portfolio diversity are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
The aforementioned Pending Complaint was filed on June 21, 2019, and has requested a Damage Amount of $500,000.00, FINRA notes.
Shimshon Plotkin has attached the following Broker Statement to his FINRA BrokerCheck Report:
Statement of Claim alleges Claimant suffered losses from several investments that were profitable as well as omitting other profitable investments in order to highlight certain, specific investments in their allegation of damages without factoring in the entire portfolio performance. Characteristics, features, and risks were fully disclosed to Claimant at the time of the recommendations. Risk tolerance alleged in the Statement of Claim is not what Claimant expressed to Advisor nor what is documented on numerous forms executed by the Claimant. The representative is not named; firm intends to defend suit as it is without basis in fact.
Shimshon Plotkin Has Settled Two Customer Disputes which Alleged Negligence & Unsuitability, Respectively; Amounts of $250,000 & $70,000 Were Awarded
Shimshon Plotkin settled a Customer Dispute which had alleged negligence, misrepresentations, breach of contract, breach of fiduciary duty, and unsuitable investments in connection with REIT’s and purportedly directly participated in programs purchased through two broker-dealers from roughly 2007 to 2014, FINRA states.
Said Dispute was settled on June 20, 2016, and originally requested $1,000,000 in Damages, but was ultimately settled for $250,000, FINRA notes.
Shimshon Plotkin has attached the following Broker Statement to his FINRA BrokerCheck Report:
INVESTMENTS WERE SUITABLE TO THE CLIENT’S INVESTMENT OBJECTIVES AND RISK TOLERANCE. THE CHARACTERISTICS, FEATURES AND RISKS WERE FULLY DISCLOSED AT THE TIME OF THE RECOMMENDATION. REGISTRANT DENIES THE ALLEGATIONS AND DEFENDS THE TRANSACTION. ON OR AROUND 2/12/18, WITHOUT ADMITTING OR DENYING THE ALLEGATIONS SET FORTH IN THE CLAIM, THE PARTIES SETTLED THE MATTER TO AVOID FURTHER EXPENDITURE OF TIME, RESOURCES AND COSTS ASSOCIATED WITH THE DISPUTE. REGISTRANT DID NOT CONTRIBUTE TO THE SETTLEMENT.
Shimshon Plotkin also settled a Customer Dispute on May 4, 2005 which alleged recommendations of an unsuitable mutual fund portfolio from 2000 to July 2002, FINRA states.
Said Dispute originally requested $142,388.00 in Damages, but was ultimately settled for $70,000, FINRA notes.
Shimshon Plotkin has attached the following Broker Statement to his FINRA BrokerCheck Report:
NO COMPLAINT WAS EVER FILED BY THE CLIENT. THE CIRCUMSTANCES THAT LED TO THIS WERE THE 2000-2002 STOCK MARKET LOSSES. THE CLIENT, WHO IS FINANCIALLY INDEPENDENT, REQUESTED TO BE INVESTED IN AN AGGRESSIVE GROWTH PORTFOLIO FOR THE BENEFIT OF HER CHARITABLE BENEFICIARIES. THE SETTLEMENT OF THIS CASE IS ENTIRELY DUE TO THE INSURANCE COMPANY’S UNWILLINGNESS TO STAND UP TO THIS UNWARRANTED COMPLAINT, WHICH WAS ALL ABOUT MY FAILURE TO PREDICT THE STOCK MARKET DECLINE.
Shimshon Plotkin has been registered with Independent Financial Group, LLC in Chevy Chase, Maryland since October 31, 2011, and has served for 25 years in the securities industry, FINRA states.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Shimshon Plotkin’s alleged over-concentration of client funds in alternative investments and a lack of portfolio diversity. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Shimshon Plotkin’s alleged over-concentration of client funds in alternative investments and a lack of portfolio diversity may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
