Eric Baron: $156 Complaint Against Former SW Advisor

Hauppage, New York financial advisor Eric Baron (CRD# 2758724) recently received an investor complaint alleging he engaged in unauthorized trading and other forms of misconduct, leading to six-figure damages. Financial Industry Regulatory Authority records show that he is a broker Network 1 Financial Securities, having previously been registered with Spartan Capital Securities and SW Financial.

Mr. Baron’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2022, alleges that as a representative of SW Financial, he recommended unsuitable investments, engaged in excessive trading, charged excessive commissions, effected unauthorized transactions, and acted negligently. The pending complaint alleges damages of $156,127.

A second investor complaint, filed in 2019, alleged that as a representative of SW Financial, he made excessive trades, recommended unsuitable transactions, committed fraud, engaged in negligence, breached contract, and breached his fiduciary duty. The complaint reached a settlement of $39,998.

A third investor complaint, filed in 2018 alleged that he churned investments, recommended unsuitable products, acted negligently, executed unauthorized trades, and breached contract as an SW Financial representative. In 2019 the complaint reached a settlement of $14,999.

A fourth investor complaint, filed in 2017, alleged that as a representative of Blackbook Capital, he churned investments and recommended unsuitable securities. In 2019 the complaint reached a settlement of $2,000. In a statement included with the complaint’s disclosure, he wrote that he denied the claims, adding: “The client was never my customer. I never had contact with the client. The account was placed in my rep code only after the client closed his account. I settled with the client to avoid any further litigation costs.”

A fifth investor complaint, filed in 1999, alleged negligence, breach of contract, fraud, misrepresentation, and breach of fiduciary duty while he was at First Allied Securities. The complaint reached a settlement of $80,000.

According to the Financial Industry Regulatory Authority, Eric Baron holds 22 years of securities industry experience. Based in Hauppage, New York, he has been a broker with Network 1 Financial Securities since 2022. His past registrations include Spartan Capital Securities, SW Financial, Laidlaw & Company, Blackbook Capital, CK Cooper & Company, Global Arena Capital Corporation, Rockwell Global Capital, PHD Capital, New Castle Financial Services, A&F Financial Securities, Pointe Capital, Investors Capital, Great Eastern Securities, Benson York Group, LH Ross & Company, JP Turner & Company, Cardinal Capital Management, Glenn Michael Financial, and First Allied Securities. He currently holds 28 state licenses. (Information current as of April 8, 2023.)

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