Did You Lose Money with Caroline Korn of Brighton Securities Corp?

Stoltmann Law Offices is interested in speaking to those investors who may have lost money with Caroline Korn, a former advisor with Brighton Securities Corp. The Financial Industry Regulatory Authority (FINRA) alleged that Brighton Securities Corp failed to adequately supervise Caroline Korn when she made unsuitable recommendations to her customers to switch from Class “A” shares of one mutual fund to another. They typically have upfront commissions of 2% to 5% and Korn was recommending that six of her clients exchange these shares between March 2013 and March 2014. These clients were paying 2% to 5% commissions on a short-term basis, and FINRA alleged that this was excessive and unsuitable. FINRA also previously brought a separate regulatory action against Korn for the same conduct. Brighton Securities was ordered to pay restitution of $19,453 to six customers, and ordered to pay a $50,000 fine for her misconduct.

According to her online, FINRA BrokerCheck report, Ms. Korn was previously registered with A.G. Edwards & Sons in St. Louis, Missouri from November 2003 until December 2005 and Brighton Securities Corp in Rochester, New York from December 2005 until March 2014. She is currently registered with Pinnacle Investments in Rochester, New York and has been since April 2014. She has three customer disputes against her, alleging unsuitable securities recommendations, unsuitable stock purchases, and abuse of discretionary authority , providing unsuitable investment advice, charging excessive commissions and engaging in churning activity. She has one criminal disposition against her.