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Matthew Steinberg: $2.5 Million Complaint Against Oppenheimer Advisor
Fort Washington, Pennsylvania financial advisor Matthew Steinberg (CRD# 2430032) recently received an investor complaint alleging he violated FINRA rules in connection with municipal bond and private equity investments. Financial Industry Regulatory Authority records show that he is a broker and an investor with Oppenheimer & Company.
Mr. Steinberg’s BrokerCheck report discloses one investor complaint. Filed in November 2023, it alleges that as a representative of Oppenheimer & Company, he breached his fiduciary duty, committed fraud, breached contract, violated FINRA rules, and used margin in connection with investments in municipal bonds and private equity. The pending complaint alleges damages of $2.5 million.
In a statement included with the complaint’s disclosure, Mr. Steinberg pushed back against the allegations. “In response to the recent claim, I maintain that my conduct has been professional and appropriate,” he wrote. “I refute the claims of wrongdoing and will vigorously challenge these groundless accusations.”
Oppenheimer & Company’s website features a profile of Mr. Steinberg that notes he is a Managing Director at the firm. “Matthew Steinberg’s financial services practice focuses on five main areas: investment needs, education savings, life insurance, retirement and wealth planning strategies,” the profile states. “Matthew’s training enables him to assist clients with tax-advantaged investments along with designing both retirement and financial planning strategies for high net worth individuals.”
According to the Financial Industry Regulatory Authority, Matthew Steinberg holds 29 years of securities industry experience. Based in Fort Washington, Pennsylvania, he has been a broker and an investor with Oppenheimer & Company since 1994 and 2005, respectively. He was previously registered with Dean Witter Reynolds in Purchase, New York from 1993 until 1994. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 32 state licenses. (Information current as of December 3, 2023.)
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