Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 13, 2019 indicate that California-based Stifel Nicolaus broker/adviser Joel Davidman has received a pending customer complaint and was recently sanctioned by state regulatory authorities. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Davidman (CRD# 861180).
Joel Davidman has spent 37 years in the securities industry and has been registered with Stifel Nicolaus & Company in Los Angeles, California since 2015. Previous registrations include Morgan Stanley in Beverly Hills, California (2009-2015); Morgan Stanley & Company in Beverly Hills, California (2007-2009); and Morgan Stanley DW in Beverly Hills, California (1981-2007). He has passed seven securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 28, 1997; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 9, 1979; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 3 (National Commodity Futures Examination), which he obtained on January 31, 1989; Series 5 (Interest Rate Options Examination), which he obtained on December 11, 1982; Series 7 (General Securities Representative Examination), which he obtained on December 16, 1978; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on May 1, 1986. He is a registered broker and investment adviser with nine US states and territories: Arizona, California, the District of Columbia, Florida, New York, North Carolina, Ohio, Oregon and Wisconsin. He is registered with seven self-regulatory organizations (SROs): Cboe BZX Exchange, FINRA, NYSE American, Nasdaq PHLX, the Nasdaq Stock Market, and the New York Stock Exchange.
According to his BrokerCheck report, he has received two regulatory sanctions, one customer complaint, and one pending customer complaint, and he was discharged from one of his former employers.
In April 2019 a customer alleged Joel Davidman, while employed at Stifel Nicolaus & Company, recommended unsuitable investments in corporate bonds and listed equities. The customer is seeking unspecified damages in the pending complaint.
In February 2018 the California Department of Insurance suspended his insurance license for ten days as the result of his 2017 FINRA sanction. His license was suspended from March 1, 2018 until March 10, 2018.
In 2017 FINRA sanctioned him in connection to allegations he effected discretionary trades without authorization from the customers or approval of the accounts as discretionary from his firm. He was issued a suspension of 45 days and a $5,000 fine.
In 2015 he was terminated from his position at Morgan Stanley Smith Barney in connection to allegations he exercised unauthorized discretion.
In 2009 a customer alleged he, while employed at Morgan Stanley & Company, failed to suitably manage the trust. The complaint settled for $225,000.
If you or someone you know has complaints regarding Joel Davidman, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.