Mitchell Hirsch: $1mm Complaint Against Everglade Parkland Adviser

Fortune Financial Services stockbroker Mitchell Hirsch (CRD# 1147538) allegedly breached his fiduciary duty, according to a pending investor complaint against him. Financial Industry Regulatory Authority records show that he is presently associated with Fortune’s office in Coral Springs, Florida. He is also an investment adviser with Everglades Parkland Advisors in Coral Springs.

An August 2021 complaint disclosed on Mr. Hirsch’s BrokerCheck report alleges that as a representative of Everglades Parkland Advisors, failed to fulfill his fiduciary obligations, investing the claimants’ funds “in redundant hedge funds for the sole reason that such investments generated substantially higher fees.” The pending complaint alleges between $1 million and $10 million in damages.

Mr. Hirsch has denied “any involvement” in the investments described in the complaint, according to a statement included in the disclosure. “Hirsch was not involved in the due diligence or approval of these investments,” he wrote, commenting that he “feels he was named in this arbitration because he handles another portion of the client’s investments, separately from the named investments.”

The pending 2021 complaint was not the first Mr. Hirsch has received. His BrokerCheck report discloses an earlier complaint, filed in 1993 by a client of Prudential Securities, alleging that too much of the client’s funds were invested in limited partnerships. The complaint reached a settlement of $35,323.

FINRA records also describe two complaints against Mr. Hirsch that were denied by the firms to which they were submitted. A 2004 complaint alleged that as a representative of Wachovia Securities, he recommended unsuitable mutual fund and annuity investments, alleging $106,000 in damages. And a 1999 complaint alleged that as a representative of Smith Barney, he placed the client in unsuitable mutual funds, alleging more than $5,000 in damages. Both of these complaints were denied.

According to the Financial Industry Regulatory Authority, Mitchell Hirsch holds 38 years of securities industry experience. He has been registered with Fortune Financial Services in Coral Springs, Florida since 2020 and holds 13 state licenses. His past registrations include International Assets Advisory (Coral Springs, Florida; 2017-2020), Hayden Royal (Coral Springs, Florida; 2017-2018), Wells Fargo (Coral Springs, Florida; 2013-2017), Merrill Lynch (Coral Springs, Florida; 2011-2013), Morgan Keegan & Company (Coral Springs, Florida; 2010-2011), and Oppenheimer & Company (Coral Springs, Florida; 2008-2010). His credentials include the passage of four securities industry qualifying exams: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8. (Information current as of April 1, 2022.)

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