Florence Capital’s Greg Hersch Allegedly Caused $1MM Losses

New York City broker and investment adviser Greg Hersch (CRD# 3254629) is the recipient of a $1.4 million pending investor complaint alleging he engaged in multiple forms of misconduct, records maintained by the Financial Industry Regulatory Authority (FINRA) show. Hersch is currently a representative of Old City Securities and Florence Capital Advisors in New York, New York.

The single complaint listed on Greg Hersch’s BrokerCheck report was filed in December 2020. It alleges that as a representative of Florence Capital Advisors, Hirsch breached his fiduciary duty to place the investor’s interests above his own, committed constructive fraud, intentionally misrepresented facts, concealed facts, negligently misrepresented facts, and acted negligently with regards to investments in a private fund. The pending complaint alleges damages of $1.4 million.

According to Financial Industry Regulatory Authority (FINRA) records, Greg Hersch holds 19 years of experience in the securities industry and has been a registered representative of Old City Securities in New York, New York since 2017 and Florence Capital Advisors in New York, New York since 2020. (Florence Capital is also known as Braddock Advisors, according to its SEC-maintained Investment Adviser Firm Summary.) His previous registrations include Fusion Analytics Securities in Coral Springs, Florida; Innovation Partners in Charlotte, North Carolina, UBS Financial Services in New York, New York; Citigroup Global Markets in New York, New York; and Bear Stearns & Company in New York, New York. He has passed four securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He currently holds eight state registrations: California, Connecticut, Florida, New Jersey, New York, Ohio, South Dakota, and Texas, where he is registered as an investment adviser. (Information current as of June 10, 2021.)