When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
Statement of Claim alleges the financial professional recommended an unsuitable investment. Claimant suggests the financial professional failed to provide adequate guidance.
Damage Amount Requested
$500,000.00
Settlement Amount
$70,000.00
11/9/2016
Customer Dispute
Denied
Allegations
Client is upset that the performance of her annuity has been unsatisfactory and alleges the annuity was unsuitable for her investment needs.
Broker Comment
RR reviewed client suitability information prior to introducing product. This investment was based on the client's investment objectives and time horizon. This product provides a lifetime income stream which the client desired. RR believed this product provided the client with more appropriate options than her initial annuity investment.
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.
Loading...
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.