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Milind Dalal: $500K Complaint Against Clarity Wealth Advisor

San Jose financial advisor Milind Dalal (CRD# 2368965) recently received an investor complaint alleging his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker with Purshe Kaplan Sterling and an investment advisor with Clarity Wealth Advisors.

Mr. Dalal’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2023, alleges that as a representative of Clarity Wealth Advisors, he acted negligently, breached his fiduciary duty, and gave poor advice. The pending complaint alleges damages of $500,000.

An earlier investor complaint, filed in 2009, alleged that as a Pruco Securities representative, he misrepresented material facts and made an unauthorized transaction. The complaint alleged damages of $62,000 and was denied by the firm.

Clarity Wealth Advisors’ website includes a profile that describes Mr. Dalal as the firm’s Managing Director. “He has over 20 years of experience in the financial services industry advising both individuals and small businesses and helping them with their financial needs and objectives,” it reads. “Prior to joining Clarity in 2013, he was a senior advisor with Prudential Financial and also spent a few years in management where he helped hire and develop new advisors.” Elsewhere, the website describes the firm’s process as “designed to promote transparency and understanding,” with a focus on simplicity and clarity.

According to the Financial Industry Regulatory Authority, Milind Dalal holds 29 years of securities industry experience. Based in San Jose, California, he has been a broker with Purshe Kaplan Sterling Investments and an investment advisor with Clarity Wealth Advisors since 2013. He was previously registered with Pruco Securities in San Jose, California from 1993 until 2013. His credentials include the passage of seven securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, New Jersey, New York, Oregon, and Texas. (Information current as of August 27, 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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