Haselkorn & Thibaut has opened an investigation into Benjamin M. Schick, a stockbroker currently registered with Cobalt Capital, Inc. in Lake Mary, Florida. If you’ve invested with Mr. Schick or have concerns about your investments, understanding his regulatory history and potential red flags is crucial for protecting your financial interests.
Who is Benjamin M. Schick?
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Benjamin Melvin Schick (CRD# 4897243) operates as a stockbroker and financial advisor from Cobalt Capital’s Lake Mary office at 801 International Parkway, Suite 500. While his current role positions him as a financial professional managing client investments, his regulatory record reveals concerning patterns that investors should carefully consider.
Understanding the Red Flags in Schick’s Background
When evaluating a financial advisor, regulatory disclosures serve as critical warning signs about potential risks to your investments. Mr. Schick’s record contains several significant red flags that warrant careful examination:
Customer Disputes and Complaints
The most concerning aspect of Schick’s record involves multiple customer complaints filed against him. These aren’t just administrative issues – they represent real investors who believed they were harmed by his conduct. Here’s what the record shows:
| Complaint Type | Number Filed | Key Concerns |
|---|---|---|
| Customer Disputes | 3 Total | Allegations of unsuitable investment recommendations |
| Settled Complaints | 2 Settlements | Financial compensation paid to resolve disputes |
| Pending Matter | 1 Active | Ongoing dispute awaiting resolution |
Why These Numbers Matter
Let’s break down why three customer complaints represent a serious concern:
- Industry Average: Most financial advisors go their entire careers without a single customer complaint
- Pattern of Behavior: Multiple complaints suggest ongoing issues rather than isolated incidents
- Financial Impact: Two settlements indicate firms found enough merit to pay compensation
- Ongoing Risk: The pending complaint shows potential current problems
Common Allegations in the Complaints
Based on available information, the complaints against Schick typically involve:
• Unsuitable Investment Recommendations: This occurs when an advisor suggests investments that don’t match your risk tolerance, financial goals, or investment timeline. For retirees or conservative investors, unsuitable recommendations can be devastating.
• Misrepresentation of Investment Risks: Investors need accurate information to make informed decisions. When advisors downplay risks or overstate potential returns, clients can suffer significant losses.
• Failure to Follow Client Instructions: Your advisor should execute your investment strategy, not pursue their own agenda or chase commissions through excessive trading.
What This Means for Current and Former Clients
If you’ve worked with Benjamin Schick, now is the time to review your account statements and investment performance. Consider these important questions:
• Have your investments performed as promised or expected?
• Were you fully informed about all risks before investing?
• Did your portfolio match your stated investment objectives?
• Have you noticed unusual trading activity or unexpected fees?
Protecting Your Investment Rights
The securities industry maintains strict rules about advisor conduct for good reason – your financial future depends on receiving honest, suitable investment advice. When advisors violate these standards, investors have rights to seek recovery of losses.
Important factors to understand:
- Time Limits Apply: Securities claims have statute of limitations, typically six years from the incident
- Documentation Matters: Preserve all account statements, emails, and notes from meetings
- Recovery Options Exist: FINRA arbitration provides a forum for investors to seek compensation
Why Professional Legal Review Matters
Evaluating potential securities fraud requires expertise in complex regulations and industry standards. An experienced investment fraud attorney can review your situation confidentially and help determine if you have grounds for recovery.
Key benefits of professional review include:
• Case Evaluation: Understanding if your losses resulted from misconduct
• Recovery Assessment: Calculating potential damages and likelihood of success
• Strategic Guidance: Navigating the FINRA arbitration process effectively
About Cobalt Capital, Inc.
As Schick’s current employer, Cobalt Capital bears supervisory responsibility for his activities. Brokerage firms must monitor their advisors and can be held liable for failing to prevent misconduct. This supervisory liability often provides an additional avenue for investor recovery.
Take Action to Protect Your Investments
If you’ve invested with Benjamin M. Schick or have concerns about your Cobalt Capital account, don’t wait to seek professional guidance. Investment losses compound over time, and delaying action could impact your ability to recover damages.
Haselkorn & Thibaut (investmentfraudlawyers.com) offers free consultations to investors nationwide. With over 50 years of experience, a 98% success rate, and millions recovered for clients, the firm operates on a no recovery, no fee basis – meaning you pay nothing unless they recover money for you.
Call 1-888-885-7162 today for your free, confidential consultation. An experienced investment fraud attorney will review your situation, explain your rights, and help you understand your options for potential recovery. Your financial future is too important to leave to chance – get the professional guidance you deserve.
