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Fortitude Advisor Daniel Raupp Has Investor Complaints
Port Jefferson financial advisor Daniel Raupp (CRD# 4079107) has received multiple investor complaints alleging he recommended unsuitable investments and engaged in other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Fortitude Investment Services, offering securities through Concorde Investment Group.
Mr. Raupp’s BrokerCheck report discloses five pending investor complaints. The most recent, filed in April 2022, alleges that while at Concorde Investment Services, he recommended unsuitable investments, committed fraud, violated the New York Consumer Protection Act, breached contract, breached his fiduciary duty, and was negligent. The pending complaint alleges damages of $225,000.
A second complaint, filed in May 2021, alleges that he recommended unsuitable investments, seeking damages of $70,000. A third complaint, filed in April 2021, similarly alleges he recommended unsuitable investments and seeks damages of $950,000. Two final pending complaints, both filed in 2020, similarly allege that he recommended unsuitable products, seeking damages of $400,000 each.
Mr. Raupp’s BrokerCheck report also discloses five investor complaints that reached settlements. A complaint filed in 2021, for instance, alleged that as a representative of J.P. Turner & Company, he recommended an unsuitable non-traded real estate investment trust. The complaint reached a settlement of $25,000.
An earlier complaint, filed in 2020, alleged that Mr. Raupp recommended unsuitable REITs and direct investments while at Concorde Investment Services. The complaint reached a settlement of $40,000.
Another 2020 complaint alleged that Mr. Raupp breached his fiduciary duty, made misrepresentations regarding investments, and recommended unsuitable products. The complaint reached a settlement of $262,000.
A 2019 complaint, finally, alleged that Mr. Raupp misrepresented material facts, committed fraud, and made unsuitable recommendations in relation to limited partnership investments. In 2022 the complaint reached a settlement of $250,000.
According to the Financial Industry Regulatory Authority, Daniel Raupp holds 22 years of securities industry experience. Based in Port Jefferson, New York, he is a representative of Fortitude Investment Services, offering securities through Concorde Investment Group. His past registrations include J.P Turner & Company, Gunnallen Financial, Harrison Securities, Ehrenkrantz King Nussbaum, and Weatherly Securities. His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He holds 49 state licenses. (Information current as of July 10, 2022.)
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