Public records provided by the Financial Industry Regulatory Authority (FINRA) on March 7, 2016 indicate that New York-based Windsor Street Capital broker Joseph Thurnherr is the subject of pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Thurnherr (CRD# 5045624).
Joseph Thurnherr has spent seven years in the securities industry and has been registered with Windsor Street Capital in New York, New York since November 2015. Previous registrations include First Standard Financial Compliance Company in Staten Island, New York; National Securities Corporation in New York, New York; Obsidian Fianncial Group, which has been expelled by FINRA, in Red Bank, New Jersey; Legend Securities in New York, New York; National Securities in Iselin, New Jersey; and JP Turner & Company in Staten Island, New York. He is a registered broker with seventeen US states and territories.
According to his BrokerCheck report, Joseph Thurnherr is the subject of two pending customer complaints.
In June 2016 a customer alleged Joseph Thurnherr, while employed at First Standard Financial, made unsuitable investment recommendations and over-concentrated the account. The customer is seeking $93,624 in damages in the pending complaint.
In June 2015 a customer alleged Joseph Thurnherr, while employed at Legend Securities, churned investments, made excessive and unauthorized transactions, breached his fiduciary duty, breached contract, acted negligently, and made misrepresentations of material facts related to investments. The customer is seeking more than $536,000 in damages in the pending complaint.
Churning, also known as excessive trading, refers to the excessive execution of transactions in a customer account for the primary purpose of generating commissions. In churning cases, a broker does not buy, sell, or trade securities in order to advance a client’s investment goals. Instead, large volumes of transactions are made in order to increase fees and charges. Account churning generally arises in situations where a broker has the control over making investment transactions on a client’s account. Situations where this can occur usually involve discretionary or managed funds, or some margin funds. Brokers who engage in excessive trading may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Joseph Thurnherr, you may be eligible to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You might have a limited time to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.