Ira Bauman: Raymond James Advisor Receives $220K Complaint

New York City financial advisor Ira Bauman (CRD# 1079115) recently received an investor complaint alleging that his conduct resulted in losses. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Raymond James & Associates, whose website shows that he is a representative of the practice Bauman Wealth Management.

Mr. Bauman’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in January 2024, alleges that as a representative of Raymond James & Associates, he failed to follow the customer’s instructions to reinvest dividends from certain securities. The pending complaint alleges damages of $220,000.

In a statement included with the pending complaint’s disclosure, Mr. Bauman defends himself against the allegations. “I fulfilled my obligations with regards to this client and believe the evidence will show that her allegations have no merit,” he writes. “I intend to fully defend myself from this claim.”

A second investor complaint, filed in 2008, alleged that as a representative of UBS Financial Securities, he sold an investment in auction rate securities prior to the widespread illiquidity in the ARS market. The complaint reached a settlement constituting the firm’s agreement to repurchase the securities at par value from the client for $1.6 million.

Raymond James & Associates’ website includes a profile of Mr. Bauman that describes his background and experience as the Managing Director of Bauman Wealth Management, a group within the firm. “Throughout a career that has spanned nearly four decades, Ira has found great fulfillment in helping people plan their financial lives,” it states. “He gains a good understanding of each client’s needs in order to establish a clear objective and develop a tailored strategy, and provides his guidance to help ensure they continue on their financial path.”

According to the Financial Industry Regulatory Authority, Ira Bauman holds 41 years of securities industry experience. Based in New York City, he has been registered as a broker and an investment advisor with Raymond James & Associates since 2016. His past registrations include Morgan Stanley, UBS Financial Services, Painewebber, and Drexel Burnham Lambert. His credentials include the passage of five securities industry qualifying exams: the National Commodity Futures Examination, or Series 3; the General Securities Representative Examination, or Series 7; the Interest Rate Options Examination, or Series 5; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 27 state licenses. (Information current as of June 10, 2024.)

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