Sherman Felix is Not Currently Affiliated With Any Broker-Dealer

Sherman FelixPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 15, 2016 indicate that former New York-based Cova Capital Partners broker Sherman Felix is currently not affiliated with any broker-dealer. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Felix (CRD# 3003343).
Sherman Felix has spent fourteen years in the securities industry and was most registered with Cova Capital Partners in Syosset, New York (2016). Previous registrations include Newport Coast Securities in New York, New York; Joseph Stone Capital in Mineola, New York; National Securities in Westbury, New York; Spartan Capital Securities in Garden City, New York; Rockwell Global Capital in Melville, New York; Woodstock Financial Group in Garden City, New York; Brookstone Securities, which has since been expelled by FINRA, in Uniondale, New York; Prestige Financial Center, which has since been expelled by FINRA, in Garden City, New York; Reid & Rudiger in New York, New York; JP Turner & Company in Westbury, New York; Commerce One Financial in Westbury, New York; LH Ross & Company, which has since been expelled by FINRA, in Boca Raton, Florida; Ehrenkrantz King Nussbaum, which has since been expelled by FINRA, in Melville, New York; Harrison Securities, which has since been expelled by FINRA, in Port Washington, New York; and Andrew Alexander Wise & Company in New York, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, Sherman Felix has received one customer complaint and one pending customer complaint.
In 2010 a customer alleged Sherman Felix, while employed at Brookstone Securities, executed unauthorized trades, effected excessive transactions, and churned the account. The complaint settled for $70,000.
In November 2015 a customer alleged Sherman Felix, while employed at Spartan Capital Securities, made unsuitable investment recommendations. The customer is seeking $31,711 in damages in the pending complaint.
Churning, or excessive trading, refers to a 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 complaints regarding Sherman Felix, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.