San Juan Capistrano, California financial advisor Ashley Romiti (CRD# 7636987) recently received an investor complaint alleging that her conduct resulted...
Read MoreCarlson Law Represents Archie Block Client Against Buckman, Buckman, & Reid
Carlson Law is representing a former client of Archie Block, a Little Silver, New Jersey-based financial advisor licensed with Buckman, Buckman, & Reid, Inc. Our firm currently has a pending arbitration for a customer based in New York.
Our claim alleged that Block churned the accounts of our client, a 93-year-old man with declining mental faculties, leading to losses of over $2.25 million. It further alleged that the losses consisted of nearly $1.9 million from trading stock options (including $825,000 in commissions) and $281,000 of margin interest and that the trading in our client’s accounts was outrageously excessive. We alleged that the trading employed by Block had no chance of generating profits and could only have been designed to extract commissions out of our client’s accounts.
Alfred “Archie” Block is a registered representative who has been registered with Buckman since February 2017. Block works out of a Buckman office in Little Silver, New Jersey. Block had previously been registered with four other broker-dealers since 1983, two of which have been expelled by FINRA.
Block has a long regulatory history. Block was a previously a partner in Marsh, Block & Co. Inc, an NASD-registered broker dealer, that was barred by the Securities and Exchange Commission (“SEC”) in 1999. Block was personally barred from association in a supervisory or proprietary capacity with any broker, dealer, investment adviser, investment company or municipal securities dealer. The SEC found, among other things, that Block falsified records.
Block’s BrokerCheck report also discloses several customer complaints, including settlements and an adverse arbitration award.
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
