Beneficiary Alleges Paul Mandel Made Unsuitable Use of Margin

Paul Mandel (CRD #: 1970104), a broker registered with Morgan Stanley, is the subject of a pending dispute, according to his BrokerCheck record, accessed on May 26, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 20, 2023, a beneficiary to a trust filed a dispute alleging that Paul Mandel made unsuitable use of margin in the trust’s accounts. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their age, tax status, and risk tolerance when recommending investments.

Suitability also applies to investment strategies. An example of a potentially unsuitable investment strategy is overconcentration, which can expose investors to a level of risk beyond what is appropriate for their financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Criminal Charge

On October 21, 2021, Paul Mandel was convicted of a criminal charge.

Background Information

Paul Mandel has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Paul Mandel is a registered broker in 33 states as well as the District of Columbia and the Virgin Islands. He is also a registered investment adviser in New Jersey and Texas.

He has also worked for Citigroup Global Markets (CRD#:7059).

Kurta Law Can Help

If you worked with Paul Mandel and you 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 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.