Randy Moshtael: $400K Complaint Against Oppenheimer Advisor

Los Angeles financial advisor Randy Moshtael (CRD# 1036474) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Oppenheimer & Company.

Mr. Moshtael’s BrokerCheck report discloses two investor complaints. The most recent, filed in October 2024, alleges that as a representative of Oppenheimer & Company, he failed to maintain and handle a customer’s account based on their instructions to not let the value fall below $250,000. He also allegedly charged excessive commissions. The pending complaint alleges damages of $400,000.

An earlier investor complaint, filed in 2015, alleged that as an Oppenheimer & Company representative, he “made excessive, unauthorized and unsuitable futures trades” in the customer’s account. In 2016 the complaint reached a settlement of $97,500.

Oppenheimer & Company’s website includes a profile of Mr. Moshtael in which he describes his approach to working with his clients. “I use an in-depth discovery process that leads to a true understanding of each client’s specific situation, time horizon, and risk tolerance.,” he explains. “I focus on growing and protecting the assets of high net worth clients (individuals, families, corporate executives, and businesses), including leveraging the resources and leadership at Oppenheimer to help clients pursue goals and solve complex financial issues.”

According to the Financial Industry Regulatory Authority, Randy Moshtael holds 41 years of securities industry experience. Based in Los Angeles, California, he has been registered as a broker and an investment advisor with Oppenheimer & Company since 2003. His past registrations include Morgan Stanley, Salomon Smith Barney, Lehman Brothers, Shearson Pacific, and EF Hutton & Company. His credentials include the passage of six securities industry qualifying exams: the Direct Participation Programs Representative Examination, or Series 22; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Connecticut, Idaho, Michigan, Nevada, New York, Oregon, Texas, and Washington. (Information current as of November 11, 2024.)

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