Erez Law is currently investigating former SW Financial broker Scott Hechler (CRD# 5277526) regarding unsuitable investment recommendations. He has been registered with Spartan Capital Securities, LLC in New York, New York, since 2023. He was registered with SW Financial in New York, New York, from 2019 to 2023, Worden Capital Management LLC in New York, New York, from 2016 to 2019, and Legend Securities, Inc. in New York, New York, from 2013 to 2016.
Scott Hechler Customer Complaints
He has been the subject of three customer complaints between 2015 and 2024, according to his CRD report:
March 2024. “Time Frame: Not specified. Alleged Allegations: Statement of Claim (SOC) filed by 36 Different (Individuals) Claimants. All stating the same allegations of unsuitability, excessive trading/commissions, unauthorized trading negligence.” The case was settled for $140,000. The complaint took place while he was registered with SW Financial, and it was regarding equity OTC and common and preferred stocks.
March 2022. “Churning, excessive commissions, unauthorized trading, unsuitability, negligence, breach of contract, fraud.” The customer sought $42,359.96 in damages, and the case was settled for $3,500. The complaint took place while he was registered with Worden Capital Management LLC, and it was regarding equity OTC and common and preferred stocks.
June 2015. “Statement of claim alleges: deception, churning, and miscommunications with customer on trades.” The customer sought $130,000 in damages, and the case was settled for $24,999. The complaint took place while he was registered with Legend Securities, Inc., and it was regarding equity OTC and common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, SW Financial may be liable for investment or other losses suffered by Scott Hechler’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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