Securities Lawyers Blog
The attorneys at Gana Weinstein LLP represent clients of financial advisors and brokerage firms in investment disputes against their firms, such as Chelsea Financial Services. Our services cover a wide spectrum of broker misconduct, including unsuitable investments, failure to supervise, and losses in various investment products. Our firm can analyze your brokerage accounts, determine the extent of your investment losses, and understand the issues and remedies available.
Chelsea Financial Services is a full-service brokerage firm that provides investment, retirement, and financial planning advice through its financial professionals and offers no proprietary products. Founded in 1999 and headquartered on Staten Island, New York, the firm is licensed in 51 states and territories and serves clients nationwide.
Chelsea Financial Services – By the Numbers:
- CRD #: 47770
- Regulatory Events: 4
- Broker Employees: 88
Chelsea Financial Services – In the News:
FINRA v. Chelsea Financial Services (Case #2018059111001) – From January 2016 through July 2018 (the “Relevant Period”), Chelsea Financial failed to establish and maintain a supervisory system, and failed to establish, maintain, and enforce written supervisory procedures (“WSPs”), that were reasonably designed to achieve compliance with FINRA’s suitability rule as it pertains to excessive trading. In addition, Chelsea Financial and Vetrano—who was the Firm’s designated supervisory principal responsible for conducting suitability reviews—failed to reasonably supervise a former registered representative, CB, who, while registered through Chelsea Financial, recommended unsuitable and excessive trading in three customer accounts. As a result of the foregoing, Chelsea Financial and Vetrano violated FINRA Rules 3110 and 2010.
Our attorneys have successfully represented hundreds of investors in investment disputes with their brokers and brokerage firms, including firms such as Chelsea Financial Services. Our consultations are free and we welcome all inquiries.