Stoltmann Law Offices is investigating Jeffrey McAleney, a Morristown, New Jersey-based investment advisor with JP Morgan Securities. Mr. McAleney was accused of recommending unsuitable unit investment trust products, making unsuitable recommendations, recommending unsuitable investments in closed-end funds, and preferred securities products, and misrepresenting material facts. He was also accused of trading excessively. This is a particularly egregious violation of securities rules, and is against securities laws and internal firm rules. His firm, J.P. Morgan, may be liable for investment losses because it did not properly supervise him while he was registered there.
According to his online BrokerCheck report with FINRA, Mr. McAleney was previously registered with Gibraltar Securities in Florham Park, New Jersey from October 1981 until September 1999, Tucker Anthony Inc. in Boston, Massachusetts from September 1999 until March 2002 and RBC Dain Rauscher in New York, New York from March 2002 until December 2005. He is currently registered with JP Morgan Securities in Morristown, New Jersey and has been since November 2005. He has 10 customer disputes against him, two of which are currently pending.