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Harley Shulevitz: $721K Complaint Against Schwab Advisor

San Francisco financial advisor Harley Schulevitz (CRD# 6336369) allegedly provided poor investment advice, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Charles Schwab & Company, where he’s been registered since 2016.

Mr. Schulevitz’s BrokerCheck report discloses one investor complaint. Filed in December 2022, the complaint alleged that he “provided poor advice which resulted in significant losses due to changes in interest rates.” The complaint alleged damages of $721,500 and was denied by Charles Schwab & Company. Investors should be aware, however, that a firm’s denial of a complaint does not necessarily mean the allegations themselves are without merit.

For reference, the provision of poor investment advice may be considered a violation of FINRA Rule 2111, which requires brokers like Mr. Shulevitz to make investment recommendations that are suitable for a customer’s background and objectives, based on reasonable diligence into the investor’s profile. It may also be considered a violation of FINRA Rule 2010, which requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade” while conducting their business. Brokers who breach these rules may be held liable for damages.

According to the Financial Industry Regulatory Authority, Harley Shulevitz holds six years of securities industry experience. Based in San Francisco, California, he has been a broker and an investment advisor with Charles Schwab & Company since 2016. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Colorado, Connecticut, the District of Columbia, Florida, Hawaii, Massachusetts, Nevada, New Jersey, Oregon, Pennsylvania, Texas, Washington, and Wyoming. (Information current as of January 14, 2023.)

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.

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