Daniel Raupp: Concorde Rep Involved In $1 Million Complaint

A pending investor complaint against Port Jefferson, New York broker Daniel Raupp (CRD# 4079107) alleges his recommendations resulted in losses of $1 million. According to Financial Industry Regulatory Authority (FINRA) records, Raupp is currently registered with Concorde Investment Services.

Daniel Raupp’s BrokerCheck report lists a total of six pending customer complaints against him, all filed in the last several years.

A complaint filed in April 2021 alleges that as a representative of Concorde Investment Services, Daniel Raupp recommended unsuitable direct investments in 2016 and 2017. The pending complaint alleges damages of $950,000.

A complaint filed in 2020 alleges that as a representative of Concorde Investment Services, Daniel Raupp recommended unsuitable direct investments and real estate investment trust products in 2014 and 2015. The pending complaint alleges unspecified damages. In a comment about the disclosure, Raupp said the claims were made against the firm and not him.

A complaint filed in 2020 alleges that as a representative of Concorde Investment Services, Daniel Raupp made unsuitable recommendations that the customer invest in direct investments and non-traded REITs. The pending complaint alleges damages of $400,000. In a comment about the complaint, he states that the claims are against the firm and not him.

A complaint filed in 2020 alleges that as a representative of JP Turner, he recommended unsuitable products, including real estate securities and direct investments. The pending complaint alleges damages of $400,000. In a “Broker Comment” about the disclosure, he said: “The claims are against the firm named and not me personally. To the extent that these claims involve me I intend to defend myself rigorously.”

A complaint filed in 2020 alleges that as a representative of Concorde Investment Services, he breached his fiduciary duty, misrepresented material facts, and made unsuitable investment recommendations from July 2017 to February 2018. The pending complaint alleges damages of $514,000. In a “Broker Comment” about the disclosure, he said: “I believe the Claimants erroneously named me as their financial advisor in the Statement of Claim. They were clients of a former representative who I believe is their friend and the appropriate target of the claimants Complaint.”

A 2019 complaint alleges that as a representative of Concorde Investment Services, he made misrepresentations, committed fraud, and recommended unsuitable limited partnership investments. The pending complaint alleges damages of $1 million. A “Broker Statement” by Raupp says in part: “I am not the representative who signed the investment forms that were signed by the client, however, I believe this client was fully informed and the investments were suitable.”

Financial Industry Regulatory Authority (FINRA) records show that Daniel Raupp holds 21 years of securities industry experience. He has been a registered broker with Concorde Investment Services in Port Jefferson, New York since 2015. He holds 48 state securities licenses. (Information current as of June 10, 2021.)