Barry Snyder (CRDNumber: 2385901), a registered representative with Snowden Account Services LLC at Coral Gables, Florida, is currently involved in a customer dispute where a client alleges that he engaged in excessive and unauthorized trading from December 6, 2013, to January 31, 2015. The customer, represented by Haselkorn & Thibaut, filed the claim on August 22, 2019, is requesting $500,000 in damages. The claim is pending and has moved to arbitration, based on Barry Snyder’s BrokerCheck report accessed on September 18, 2019.
Barry Snyder Complaints
This is not the first time that Barry Snyder has been involved in a dispute. On November 2, 2018, a customer filed a dispute, alleging”loss in value of the account in focused positions.” Concentrated positions occur when an investor holds shares of stocks that constitute a huge portion of their portfolio, resulting in a lack of diversification. The client is seeking unspecified damages and the dispute is pending. On August 20, 2013, Barry Snyder was discharged from Credit Suisse Securities over”concerns linked to the precision of records regarding certain orders the representative said he took out of customers”
Barry Snyder History
Barry Snyner worked for five additional firms along with Snowden Account Services (CRD#: 149794). He has also worked:
Lampost Capital, L.C. (CRD#: 43706) of Boca Raton, Florida
JP. Morgan Securities, LLC (CRDNumber: 79) of Palm Beach Gardens, Florida
Credit Suisse Securities (USA), LLC (CRDNumber: 816) of West Palm Beach, Florida
Deutsche Bank Securities Inc. (CRD#: 2525) of Palm Beach, Florida
Goldman, Sachs & Co. (CRDNumber: 361) of New York, New York
If you have worked with Barry Snyder or have questions regarding concentrated positions, don’t hesitate to speak to the securities attorneys of Haselkorn & Thibaut. Call 1- 888-628-5590 for the free consultation.
Red Flags For Investment Fraud
How do successful, financially intelligent men and women fall prey to investment fraud? Researchers have found that investment fraudsters reach their targets with an array of persuasion techniques that are tailored to the victim’s psychological profile. Here would be red flags to search for:
Watch for “phantom riches.” compare promised yields with current returns on well-know stock indexes. Any investment opportunity that claims you are going to receive substantially more could be highly risky — and that means you might lose money. Claims such as these are hallmarks of extreme risk or outright fraud.
“Guaranteed returns” are not. Every investment carries some degree of risk, which is reflected in the rate of return you can expect to receive. If your cash is perfectly safe, you’re most likely get a low return. High returns entail high risks, possibly such as a total loss on the investments. Most fraudsters spend a lot of time trying to convince investors that extremely significant returns are”guaranteed” or”can not miss.” They try to plant an image in mind of what your life will be like if you are wealthy. Do not believe it.
Beware the “halo” effect. Investors could be blinded credibility could be faked. Check out actual qualifications.
“Everyone is buying it.” Watch out for more pitches that stress how”everybody is investing in this, so that you should, too.” Consider whether you’re interested in the item. In case a sales presentation focuses on the number of others have purchased the product, this might be a red flag.
Pressure to send money RIGHT NOW. Scam artists often tell their victims that this is really a once-in-a-lifetime offer and it’s going to be gone tomorrow. However resist the pressure to invest quickly and choose the time you want to investigate before sending cash.
Reciprocity. Fraudsters often attempt to lure investors You, such as supplying a free lunch, you will do a big favor for them and invest in their product. There is never a reason to make a quick decision in an investment. Should you attend a free lunch, then take the material house and research both the investment and the person selling it before you invest. Always make sure the item is suitable for you and that you understand what you’re buying and all the associated fees.
Tom, aka T Rex, is seasoned financial pro that cut his teeth on the Chicago trading oil futures in 1995. In less than 3 years he bought his own seat and set up shop on the exchange. For the next 10 years Rex traded his own account and some institutional accounts. In 2017, he decided to move to Florida and focus on educating traders and writing for financial websites.