Mitchell Hirsch is Involved in a $1 Million Investor Dispute
Mitchell Hirsch (CRD #:1147538), a broker registered with Fortune Financial Services is involved in an unsuitability dispute according to his BrokerCheck record accessed on January 10, 2022. He is also a registered investment advisor at One Seven.
According to the allegations filed on October 29, 2021, Mitchell Hirsch breached his fiduciary duty by investing investors’ money in unsuitable, redundant hedge funds for the sole reason that these investments generated substantially higher fees. The investors are seeking $1,000,000—the case is still pending.
Recommending Unsuitable Investments is a Breach of FINRA Rule 2111
“Suitability” is the term used to describe an ethical, enforceable standard for investment advisers. An investment is only considered “suitable” if it meets the suitability criteria outlined in FINRA Rule 2111.
A financial advisor must have exercised due diligence and have an adequate reason for believing that an investment will also be suitable or beneficial for the investor. Investors who rely on their investment advisors for recommendations may be able to recover their losses through FINRA arbitration if their broker recommended an unsuitable investment.
On May 13, 2013, Mitchell Hirsch discharged a bankruptcy.
Mitchell Hirsch has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)
- Mitchell Hirsch is a registered broker in 11 states. He is also a registered investment advisor in Florida and Texas.
Mitchell Hirsch has worked with the following firms:
- International Assets Advisory (CRD#:10645)
- Wells Fargo Advisors Financial Network (CRD#:11025)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)
- Morgan Keegan & Company (CRD#:4161)
- Oppenheimer & Co (CRD#:249)
- A & J Advisory Services (CRD#:146332)
- Lebenthal & Co., (CRD#:145750)
- Alexandra & James Co. (CRD#:106032)
- Mid Atlantic Financial Management (CRD#:109771)
- Wachovia Securities (CRD#:19616)
- First Union Capital Markets Corp. (CRD#:6124)
- Salomon Smith Barney (CRD#:7059)
- Painewebber Incorporated (CRD#:8174)
- Prudential-Bache Securities (CRD#:7471)
- J. B. Hanauer & Co. (CRD#:6958)
Kurta Law Can Help
If you have worked with Mitchell Hirsch and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.