Milind Dalal Subject of a Half-Million Dollar Dispute

Milind Dalal (CRD #: 2368965), a broker registered with Purshe Kaplan Sterling Investments, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 21, 2023. Details are provided below. 

On July 20, 2023, an investor alleged that Milind Dalad was negligent when he provided bad advice to a client in relation to an investment club called “Casa Blanca Investments.” The investor further alleged a breach of fiduciary duty. The investor is seeking $500,000.

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

FINRA 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Providing bad advice may violate this rule. 

Background Information 

Milind Dalal has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 26 Investment Company Products / Variable Contracts Principal Examination 

He is a registered broker in California, New Jersey, New York, and Oregon. He is also a registered investment adviser in California and Texas. 

Milind Dalal has registered with the following firms: 

• Purshe Kaplan Sterling Investments (CRD #: 35747) 
• Clarity Wealth Advisors (CRD #: 157913) 
• Prudential Financial Planning Services (CRD #: 5685) 
• Pruco Securities (CRD #: 5685) 
• Prudential Securities Incorporated (CRD #: 7471) 

Kurta Law Can Help

If you worked with Milind Dalal and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.