Advisor Leslie Goldstein (Goldstein), currently employed by Securities America, Inc. (Securities America) has been subject to at least four customer complaints, two regulatory actions, and one employment termination for cause. According to a BrokerCheck report some of the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.
In December 2018 a customer complained that Goldstein violated the securities laws by alleging that the financial advisor did not explain the impact of an early withdrawal from a variable annuity on the client’s future annuity income benefits. The claim was withdrawn.
In July 2018 a customer filed a complaint alleging that Goldstein violated the securities laws by alleging concentrated positions in illiquid investments, annuities, life insurance and non-traded REITs which were unsuitable. The allegations also include churning, excessive commissions, breach of fiduciary duty, and negligence. The claim alleged $1,000,000 in damages and is currently pending.