Stuart L. Pearl (Stu Pearl) is a previously registered broker facing multiple accusations of misconduct. Allegations against Pearl include that he engaged in unauthorized trading and made unsuitable investments. Damages are estimated in the six figures. Pearl was twice suspended by the Financial Industry Regulatory Authority (FINRA).
At Meyer Wilson, we represent investors who have sustained losses related to broker misconduct. Broker misconduct may include unsuitable investment recommendations, churning, unauthorized trading, and more. We fight to get you the best possible outcome in your case. If you sustained losses after investing with Stuart Pearl or another broker accused of wrongdoing, contact our office at (614) 532-4576 to schedule a free consultation.
According to the BrokerCheck report for Stuart Pearl (CRD#: 1500833), the previously registered broker has 11 disclosures and has been accused of investment fraud several times. Two of the disclosures are pending customer disputes.
The first dispute alleges that Pearl made unauthorized and excessive equity listed (common & preferred stock) trades on the client’s account. The unauthorized trading reportedly occurred from 2007 until 2010 while Pearl was employed with Citigroup Global Markets, Inc. Damages are estimated at $725,000.
The second, and most recent dispute, includes similar accusations that the broker made unauthorized and unsuitable investments in a customer’s account. The client also alleges that Pearl engaged in churning from 2010 to 2015 during his employment with Ameriprise Financial Services, LLC. Damages are estimated at $635,000.
In addition to multiple customer disputes, Pearl has been suspended by FINRA twice.
The first suspension was issued in 2017 after the regulatory agency found that he engaged in discretionary trading on several occasions without prior written authorization. FINRA also found that he made unsuitable recommendations involving the use of margins. Pearl was discharged from his position with Ameriprise Financial Services, Inc. on similar findings.
The second suspension was issued in 2021 after he reportedly “recommended the purchase of leveraged and inverse traded funds (collectively Non-Traditional ETFs or NT-ETFs)” without fully disclosing the risks. The recommendations were deemed unsuitable. Prior to the suspension, Pearl had been permitted to resign from his position with David A. Noyes & Company.
Five customer disputes involving Pearl have been settled. Many of the disputes involved unauthorized trading and the use of margin borrowing. While Stuart Pearl is no longer a registered broker, he is currently registered as an investment adviser. He is employed with International Assets Investment Management, LLC.
If your broker or financial advisor made unsuitable investment recommendations that caused you to suffer losses, you need to speak to an attorney. Depending on the situation you might be able to recover your losses through legal action. Contact our office at (614) 532-4576 to schedule a free, no-obligation consultation.