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Broker to Rich and Famous Suspended

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Trust is everything when choosing an investment advisor or stockbroker. Apparently that was lost on Bambi Holzer, Hollywood stockbroker to the rich and famous. She has been suspended by regulators–for a second time. I’m not surprised that variable annuities were part of this breach in trust.

Ms. Holzer, who has been affiliated with at least 10 different brokerage firms during her career, has been suspended before. In 2005, she was fined $100,000 and suspended for 21 days related to the alleged misrepresentation of variable annuities, according to her public report on Finra’s website. Ms. Holzer neither admitted nor denied the allegations.

“What took so long?” said Philip Aidikoff, a Beverly Hills-based securities lawyer who said he has represented at least a dozen clients in claims against Ms. Holzer’s sales practices over the years. “This wasn’t someone who was right on the edge, this is beyond what I’ve ever seen in number of customer complaints, with the exception of a couple boiler-room brokers in the early ’90s.”

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.