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Michael Applebaum: Investor Complaints Allege Suitability, Breach of Fiduciary Duty

Michael Applebaum Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 13, 2018 indicate that New Jersey-based Janney Montgomery Scott broker/adviser Michael Applebaum has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Applebaum (CRD# 1628443).

Michael Applebaum has spent 31 years in the securities industry and has been registered wth Janney Montgomery Scott in Marlton, New Jersey since 2016. Previous registrations include Wells Fargo Advisors in Marlton, New Jersey (2010-2016); Morgan Stanley Smith Barney in Voorhees, New Jersey (2009-2011); Morgan Stanley & Company in Voorhees, New Jersey (2007-2009); Morgan Stanley DW in Voorhees, New Jersey (2006-2007); Citigroup Global Markets in Mt. Laurel, New Jersey (1993-2006); Lehman Brothers in New York, New York (1992-1993); Smith Barney Harris Upham & Company in New York, New York (1988-1992); and Blinder Robinson & Company (1987-1988). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 25, 1987, and Series 7 (General Securities Representative Examination), which he obtained on February 21, 1987. He is a registered broker and investment adviser with eleven US states and territories: Arizona, California, Colorado, the District of Columbia, Florida, Maryland, New Jersey, New York, Ohio, Pennsylvania, and South Carolina. He is registered with three self-regulatory organizations (SROs): FINRA, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, he has received two customer complaints, one pending customer complaint, and six denied customer complaints.

In July 2018 a customer alleged Michael Applebaum, while employed at Janney Montgomery Scott, recommended an unsuitable investment. The customer is seeking $15,000 in damages in the pending complaint.

In 2016 a customer alleged Michael Applebaum, while employed at Wells Fargo Advisors, breached his fiduciary duty by not placing stop limit orders. The complaint settled for $7,500.

In 2006 a customer alleged Michael Applebaum, while employed at Citigroup Global Markets, failed to follow instructions regarding investments. The complaint settled for $700.

In 2003 a customer alleged he, while employed at Citigroup Global Markets, executed unauthorized trades in products including mutual funds and unit investment trusts. The customer sought unspecified damages in the complaint, which was denied.

In 2003 a customer alleged he, while employed at Citigroup Global Markets, recommended unsuitable investments. The customer sought unspecified damages in the complaint, which was denied.

If you or someone you know has a complaint regarding Michael Applebaum, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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