Daniel Raupp (Daniel Phillip Raupp) is a broker currently registered with Concorde Investment Services in their Port Jefferson, New York branch office. Before joining Concorde, Raupp was previously registered with J.P. Turner & Company, LLC, Gunallen Financial, Inc, and Harrison Securities, Inc., which FINRA expelled in 2004.
Daniel Raupp Disclosures
Daniel Raupp has 7 disclosures on his publicly-available FINRA BrokerCheck report, which includes 6 customer disputes and 1 employment separation after allegations:
September, 2020: A customer dispute alleged that “various investments recommended by the representative in 2014 to 2016 were unsuitable.” $400,000 in damages are requested and the claim is pending as of this writing.
May, 2020: A customer dispute alleged that “various investments recommended by the representative in 2013 and 2016 were unsuitable.” $400,000 in damages are requested. The claim is pending as of this writing.
March, 2020: A customer dispute alleged “breach of fiduciary duty, misrepresentation, and suitability relating to investments made in July 2017 to February 2018.” $514,000 in damages are requested. The claim is pending as of this writing.
September, 2019: A customer dispute alleged “suitability, negligence and breach of fiduciary duty in relation to investments made with the firm in 2016-2018, as well as illiquid non-traded REIT purchased at prior BD and transferred to the firm.” $500,000 in damages was requested. The case settled for $135,000.
June, 2019: A customer dispute alleged “misrepresentation, fraud, and suitability in relation to limited partnership investments made in June and October of 2017.” $1,000,000 in damage are requested and the claim is pending as of this writing.
December, 2011: A customer dispute alleged that “purchase of BDSI was not in line with his investment philosophy or appetite for risk.” $48,000 in damages was requested and the claim was closed with no action.
November, 2011: An employment separation after allegations disclosure states that Daniel Raupp voluntarily resigned from EKN (Ehrenkrantz King Nussbaum) “under investigation for misappropriation of property and improper alteration of original customer documents.” Raupp’s comments in the disclosure state that he is innocent of the allegations and blame the issue on a clerical error.
Allegations Of Unsuitable Investments, Misrepresentation
The customer disputes against Daniel Raupp allege unsuitability of investments they were sold. As a registered broker, Raupp is regulated by FINRA rules and federal securities laws, which require that a broker has a “reasonable basis” to recommend a transaction or strategy. To know what is suitable for a given customer, the broker must understand the customer’s investment profile, including factors such as their age and tolerance for risk.
Some of the customer disputes also allege misrepresentation. Misrepresentation can occur when all material facts and costs related to an investment or strategy are not disclosed. It can also occur when inadequate due diligence is performed, or unrealistic assumptions are provided.
Did You Invest With Daniel Raupp?
If your stock broker or financial advisor put his financial interests ahead of yours, misled you about an investment, or recommended an unsuitable investment, you may have a claim to recover your losses through FINRA arbitration.
Silver Law Group represents investors nationwide in securities and investment fraud cases. Our experienced lawyers may be able to help you recover investment losses due to stockbroker misconduct. If you have any questions about your account, call us at 800-975-4345. We take most cases on a contingency fee basis, meaning that you owe us nothing unless we recover your money for you. Contact us today.