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Elderly Primary Target for Troubled Brokers

The Wall Street Journal has identified 16 hot spots across the country where troubled brokers are going after their elderly targets. Investigating around 550,000 stockbrokers, the WSJ found parts of New York’s Long Island, South Florida, Detroit, Las Vegas and California cities where these brokers are targeting the elderly.

One such troubled broker is, Rafael Golan, who knows all too well of taking advantage of the elderly. Working in Florida, he would invite potential clients to a financial seminar with the incentive of a FREE meal. Dinners like this landed him clients, some have now lodged complaints against him. Golan is now part of a group of brokers with a troubled regulatory record and 5 disciplinary red flags.

BLOG PIC Courtesy: Wall Street Journal

FINRA’s Susan Axelrod, who serves as executive vice president of regulatory operations says, “FINRA has offices in the hot spots identified by the Wall Street Journal, which means we have dedicated significant regulatory resources in these geographic locations.”

Please don’t let yourself or someone you love get taken advantage of by these troubled brokers. Avoid the temptations of a FREE meal offer, if something seems too good to be true, it’s too good to be true. Our law firm is here to help if you have become a target of troubled brokers, contact us today to discuss your claim.

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