Imagine that someone trusted a Cetera advisor with their hard-earned money, expected professionalism, and the promise of fiduciary duty. However, rather than getting sound investment advice, they experience a breach of trust. They appear to be on a financial tightrope, dangling precariously close to a significant loss with no safety net supporting them. The allegations made against renowned financial advisor Edward Rosenblatt (CRD# 2658712) of Mission Viejo, California, have brought this story back to life.
Edward Rosenblatt: who is he?
Table of Contents
Records from the Financial Industry Regulatory Authority (FINRA) show that Rosenblatt is a broker and investment advisor for Cetera Advisor Networks. Rosenblatt, who established his life in Mission Viejo, California, has a long-standing partnership with Cetera Advisor Networks that dates back to 1995. He seems like a reliable person with 27 years of securities industry experience, right? But sometimes things are not what they seem.
Rosenblatt’s Tale of Multiple Complaints
If one looked a little deeper into the story, one would see episodes where investors were complaining about Rosenblatt. Do you recall how light shines the brightest when it’s dark? The significance of these facts increases when you realize that a financial advisor’s integrity is essential to their line of work. What, then, is the narrative of these unsettling chapters?
The most recent in line is a still-pending complaint from June 2023 that claims he violated his fiduciary duty, broke a contract, and failed to perform his supervisory duties regarding mutual fund investments. The patient has a staggering $200,000 in alleged damages and is still on the operating table.
If you go back to 2017, the story reveals a settled complaint that Rosenblatt misrepresented an investment in a mutual fund. A settlement of $33,777.58 closed this chapter of the story.
The plot becomes more complex as you travel further back to 2010. According to the complaint, Rosenblatt mismanaged the customer’s accounts and carried out unauthorized transactions, which is a recipe for anxiety and disappointment. With a $14,999 settlement, this act came to an end.
Let’s go back even further to 2004 when Rosenblatt allegedly advised Financial Network Investment Corporation clients to invest in unsuitable mutual funds. This flashback was resolved with a notable $150,000 settlement.
These stories of unrest act as a sobering reminder of the value of trust and openness in the financial sector.
Legal Support for Investing
You are not helpless if you or a loved one has suffered the most from investment losses. An eager hand is extended by Haselkorn & Thibaut, a law firm that specializes in defending investors against financial advisors and investment companies across the United States. For a free, private consultation, please get in touch with us at 1-800-856-3352 or use our online form. After all, having financial security is a chapter in our stories that we all aspire to have.
