Paul Blum; RBC; West Palm Beach, Florida

Stoltmann Law Offices is investigating Paul Blum, a former registered broker with RBC in West Palm Beach, Florida. Blum was accused of selling junk bonds which were unsuitable for clients. Many of the bonds were related to the oil and gas and energy sector and the investments he recommended lost clients hundreds of thousands of dollars. It is against securities rules and regulations for a broker to recommend investments that are unsuitable for clients. He or she must take into account the client’s net worth, age, investment objectives and investment sophistication before recommending securities. Securities in the energy and oil and gas sector tend to be especially risky securities, and illiquid. If a broker recommends a security that is not suitable for a client and the client loses money, the broker’s investment firm or former investment firm, can be sued for those losses.

According to Blum’s online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, he was registered with JB Hanauer & Co. in Parsippany, New Jersey from July 1981 until September 1990, Prudential-Bache Securities in New York, New York from September 1990 until February 1991, JB Hanauer in West Palm Beach, Florida from February 1991 until October 2009 and RBC Capital Markets in West Palm Beach from October 2009 until November 2015. He has 22 customer disputes against him, 12 of which are currently pending. This amount of customer disputes is a high number for a registered broker. He is not licensed within the industry. Please call our law firm today if you invested and lost money with Paul V. Blum. We may be able to help you recover your financial losses on a contingency fee basis.

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