Randy Moshtael Allegedly Charged Excessive Commissions
Randy Moshtael (CRD# 1036474), a broker registered with Oppenheimer & Company, charged excessive commissions, according to an investor dispute. MDF Law is investigating the Los Angeles-based financial professional for similar conduct. If you are a current or former customer with concerns about your portfolio, we encourage you to reach out for a free consultation.
Continue reading to learn more about the allegations involving Mr. Moshtael. This post is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on February 20, 2025.
Firm Settled 2024 Dispute
On October 15, 2024, an investor filed a dispute alleging that Mr. Moshtael failed to handle their account and charged excessive commissions. On January 6, 2025, his member firm settled the dispute for $140,000.
A “Broker Statement” found on the claim’s disclosure contains Mr. Moshtael’s comment on the allegations. In this statement, he asserted that the customer had requested a commission discount that was agreed to but not implemented. “When the customer complaint was received, the firm agreed and offered the client an appropriate adjustment, which the client rejected,” he added. “The firm and the client eventually settled for the original agreed-upon commission adjustment, plus a small amount for legal fees.”
Past Dispute Alleged Unauthorized Trading
The 2024 dispute is not the only one in Mr. Moshtael’s past. In 2015, another investor filed a dispute alleging that he “made excessive, unauthorized, and unsuitable futures trades” in the account. In 2016, the complaint reached a settlement of $97,500.
Why Did Randy Moshtael Resign from Smith Barney?
On September 6, 2002, Smith Barney filed a disclosure regarding Mr. Moshtael’s departure from the firm. As it states, the firm permitted his resignation following allegations that he gave money to the client. He issued a “Broker Statement” regarding the allegations, specifying that the client was a friend of more than 20 years. “He became a client at the end of 1999,” he wrote. “When I wrote the check I had completely forgotten he was a client, since I had written checks to him in 1997 and 1998 as well.”
Oppenheimer Broker Focuses on High Net Worth Clients
As his BrokerCheck profile reflects, Mr. Moshtael is a representative of Oppenheimer & Company. That firm’s website features his professional biography, in which he describes his experience and process. “I use an in-depth discovery process that leads to a true understanding of each client’s specific situation, time horizon, and risk tolerance,” he writes. “I focus on growing and protecting the assets of high net worth clients (individuals, families, corporate executives, and businesses), including leveraging the resources and leadership at Oppenheimer to help clients pursue goals and solve complex financial issues.”
FINRA: Moshtael Based in Los Angeles
Mr. Moshtael launched his career as a broker in 1982, when he registered with E.F. Hutton & Company. Over the following years, he went on to work at a number of firms, including Shearson Pacific and Salomon Smith Barney. He joined his current member firm, Oppenheimer & Company, in 2003, and still works at its Los Angeles office today. With 41 years of experience as a broker, he has completed six industry exams, including the Series 3 and the Series 7.
You May be Able To Recover Investment Losses
If you lost money working with Randy Moshtael, you may have grounds to file a FINRA arbitration claim for damages. Call MDF Law to speak with an attorney for free, especially if there were unsuitable investments in your account. We accept cases on a contingency basis, which means we only collect a fee if our clients recover losses. Call 800-767-8040 for a free consultation with our team today.