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DAUGHTER OF CONNECTICUT CLIENT ALLEGES THAT RECOMMENDATIONS MADE BY HER MOTHER'S FORMER FINANCIAL ADVISOR FROM JANUARY OF 2013 THROUGH OCTOBER OF 2013 WERE INAPPROPRIATE AND EXCESSIVE, RESULTING IN A LOSS ESTIMATED AT $17,559.
Damage Amount Requested
$17,599.00
Broker Comment
CLAIM DENIED ON SEPTEMBER 10, 2014. ON REVIEW, THE RECOMMENDATIONS MADE BY THE FINANCIAL ADVISOR AND THE TRANSACTIONS IN THE ACCOUNT WERE CONSISTENT WITH THE CLIENT'S STATED INVESTMENT OBJECTIVE.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.