Bruce Hartzmark: Oppenheimer Advisor Faces $500K Complaint

A recent investor complaint against Beachwood, Ohio financial advisor Bruce Hartzmark (CRD# 1106323) allegedly recommended a private placement that resulted in six-figure damages, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Oppenheimer & Company.

Mr. Hartzmark’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2024, alleges that as a representative of Oppenheimer & Company, he breached his fiduciary duty, acted negligently, breached contract, and violated state securities laws in connection with a private placement investment. The pending complaint alleges damages of $500,000.

In a statement included with the complaint’s disclosure, Mr. Hartzmark defended himself against the allegations. “I at all times conducted myself in an appropriate and professional manner,” he wrote. “I deny all allegations of wrongdoing, and intend to vigorously defend myself and the firm against the false, unwarranted and unsubstantiated allegations concerning the investment.”

An earlier investor complaint, filed in 1999, alleged that as a representative of Fahnestock & Company, he recommended unsuitable investments, breached contract, and breached his fiduciary duty. The complaint reached a settlement of $30,000.

Oppenheimer & Company’s website includes a profile of Mr. Hartzmark that describes his approach to working with clients. “ 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.”

According to the Financial Industry Regulatory Authority, Bruce Hartzmark holds 40 years of securities industry experience. Based in Beachwood, Ohio, he has been registered as a broker and an investment advisor with Oppenheimer & Company since 1988 and 2006, respectively. His past registrations include Fahnestock International (1988), Fahnestock & Company (1985-1988), and Thomson McKinnon Securities (1983-1985). His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 25 state licenses. (Information current as of May 27, 2024.)

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