Zvi Feldman: $800K Complaint Against Former Leumi Advisor
Aventura, Florida financial advisor Zvi Feldman (CRD# 5316260) has received an investor complaint alleging his investment recommendations resulted in six-figure losses. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that he is an investment advisor with 1818 Private Client Services and was formerly a broker with Leumi Investment Services, though he is no longer registered as a broker.
Mr. Feldman’s BrokerCheck report discloses one pending investor complaint against him. Filed in June 2022, the complaint alleges that as a representative of Leumi Investment Services, he made misrepresentations and recommended unsuitable debt and equity securities. The pending complaint alleges damages of $800,000.
FINRA rules require stockbrokers to follow a standard known as “suitability.” In short, this stipulates that they must “have a reasonable basis to believe a recommended transaction or investment strategy” is appropriate for the customer, based on the customer’s “investment profile.” An investor’s profile is based on an evaluation of their age, financial situation, investment objectives, tax status, risk tolerance, and other data points. FINRA Rule 2111 explains that brokers must “have a firm understanding of both the product and the customer.” These standards are explained further on FINRA’s website.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Zvi Feldman holds 14 years of securities industry experience. Based in Aventura, Florida, he has been an investment advisor with 1818 Private Client Services since September 2021. He was formerly registered as a broker and investment advisor with Leumi Investment Services in Aventura, Florida from 2007 until 2021. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed as an investment advisor in Florida. (Information current as of July 17, 2022.)
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