Last Updated: February 2025 (Norcross, GA)
National securities fraud lawyers at Patil Law P.C. are investigating current Dempsey Lord Smith, LLC broker Rajesh C. Jyotishi (CRD #2204676) regarding allegations of unsuitability and misrepresentation in direct investment products. The investigation stems from a recently filed FINRA arbitration complaint in November 2024 alleging serious misconduct in the handling of client investments.
Critical Insights About Norcross Financial Advisor Rajesh Jyotishi
- Advisor Name: Rajesh C. Jyotishi
- CRD: 2204676
- Location: Norcross, GA
- Current Employer: Dempsey Lord Smith, LLC
- Classification: Registered Representative & Investment Adviser Representative
- Primary Location: 3790 Holcomb Bridge Road 103, Norcross, GA 30092
- Can Rajesh Jyotishi be sued in FINRA arbitration: Yes
- Customer Disputes: Two disclosures (One pending, One settled)
- Current Registrations: Licensed in 3 states
- Years of Experience: Since 1992
- Previous Employers: Kovack Securities Inc., Resource Horizons Group LLC
- Professional Qualifications: Series 7, 63, 65 licenses
- Business Name: Shalin Financial Services (President since 2001)
- Current Status: Active with Dempsey Lord Smith, LLC since 2015
Details Of Current Investigation
The recently filed FINRA arbitration (Case 24-02384) alleges:
- Unsuitability of investment recommendations
- Misrepresentation of investments
- Breach of fiduciary duty
- Claims involving Direct Investment Products (DPP & LP Interests)
- Multiple types of damages sought including consequential and punitive damages
- Violations of industry regulations and standards
Analysis Of Alleged Misconduct
The allegations raise serious concerns about:
- Investment suitability standards
- Risk disclosure practices
- Fiduciary duty obligations
- Due diligence procedures
- Client communication protocols
- Portfolio management practices
- Compliance with regulatory requirements
History of Customer Disputes
Previous settled complaint from 2010 involved:
- Variable annuity misrepresentation allegations
- Claims of unsuitable recommendations
- Settlement amount of $20,000
- Individual contribution of $4,999
- Filed with FINRA Southeast Regional Office
Other Business Activities Raising Concerns
Mr. Jyotishi maintains multiple outside business activities including:
- Insurance sales through Shalin Financial Services
- Employee benefits sales
- Various website operations
- Time commitment issues during trading hours
- Potential conflicts of interest
Regulatory Framework And Investor Protection
FINRA Rules And Their Significance
- Rule 2111 (Suitability)
- Rule 2010 (Commercial Honor)
- Rule 2330 (Variable Annuity Requirements)
- Rule 3270 (Outside Business Activities)
Regulatory Requirements
- Due diligence obligations
- Risk disclosure requirements
- Documentation standards
- Supervision protocols
- Client communication requirements
Red Flags For Investors
- Multiple customer disputes
- Variable annuity complaints
- Direct participation program concerns
- Multiple outside business activities
- Significant time commitments outside brokerage
- Suitability questions
- Fiduciary duty issues
- Risk disclosure concerns
Implications For Current And Former Clients
Current and former clients should:
- Review all investment recommendations
- Examine portfolio allocations
- Verify risk disclosures
- Document all communications
- Assess investment performance
- Compare fees and costs
- Evaluate outside business relationships
- Consider independent review
Patil Law P.C. Will Help You Recover Your Investment Losses
If you have concerns about unsuitable investments or misrepresentations in your account handled by Mr. Jyotishi, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
