Andrew Pesner: 6-Figure Complaint Against VCS Advisor

A recent investor complaint against Hauppage, New York financial advisor Andrew Pesner (CRD# 1971579) alleges that his advice resulted in damages of more than $250,000. Financial Industry Regulatory Authority records show that he is a broker with VCS Venture Services, having previously been registered with Joseph Stone Capital.

Mr. Pesner’s BrokerCheck report discloses several investor complaints. The most recent, filed in September 2023, alleges that as a representative of Joseph Stone Capital and VCS Venture Services, he recommended unsuitable over-the-counter equities and acted negligently. The pending complaint alleges damages of $295,531.50.

An earlier investor complaint, filed in 2003, alleged that as a Milestone Financial Services representative, he made unauthorized and unsuitable trades. In 2004 the complaint reached a settlement of $23,500.

A third investor complaint, filed in 1997, alleged he breached contract, acted negligently, and breached his fiduciary duty while a representative of First Asset Management. In 1998 the complaint reached a settlement of $50,000.

A fourth investor complaint, filed in 1996, alleged that as a representative of Chatfield Dean & Company, he recommended unsuitable investments, made misrepresentations of material facts, failed in his supervisory responsibilities, and breached his fiduciary duty. In 1997 the complaint reached a settlement of $125,000.

According to the Financial Industry Regulatory Authority, Andrew Pesner holds 33 years of securities industry experience. Based in Hauppage, New York, he has been a broker with VCS Venture Services since 2021. His registration history includes Joseph Stone Capital (Hauppage, New York; 2013-2022), First Midwest Securities (Hauppage, New York; 2007-2013), American Capital Partners (Hauppage, New York; 2002-2007), Milestone Financial Services (Bohemia, New York; 1998-2002), First Asset Management (Garden City, New York; 1995-1998), Chatfield Dean & Company (Greenwood Village, Colorado; 1994-1995), and Lew Lieberbaum & Company (Garden City, New York; 1990-1994). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Investment Banking Registered Representative Examination, or Series 79TO; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 44 state licenses. (Information current as of October 3, 2023.)

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